NinjaTrader 8 Indicators and More - MarketRetrace

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 NinjaTrader 8 Indicators and More Indicators and Files in this section are compatible with NinjaTrader 8

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This indie looks at yesterdays High and Low and todays High and Low. It paints yesterdays High and Low on todays chart, as well as the mid and RMS values of yesterdays High and Low. The RMS values are estimated as 70.7% and 29.3% for a sine wave. It also paints todays High and Low. These values can be interesting turning points. All levels are labeled in the right side margin (I recommend a margin of 100). I posted a similar indie in NT7 called Pivots Plus that was very popular . This one does not have the pivots included, you can add that to the chart. This one does have a button to hide the indie if you want to declutter your chart.

Here is the wiki definition of RMS...
In mathematics and its applications, the root mean square (RMS or rms) is defined as the square root of the mean square (the arithmetic mean of the squares of a set of numbers).[1] The RMS is also known as the quadratic mean[2][3] and is a particular case of the generalized mean with exponent 2. RMS can also be defined for a continuously varying function in terms of an integral of the squares of the instantaneous values during a cycle.

I hope that you find it interesting....

Bob

Category NinjaTrader 8 Indicators and More

 Details: MarketRetrace Category: NinjaTrader 8 Indicators and More  January 27th, 2021 Size: 5.88 KB Downloaded: 453 times Keywords: high low pivots rms

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