Description:
This is an original indicator born out of curiosity and experimentation. It simply averages the pivot swing highs as one plot and does the same for the pivot swing lows. Once adjusted, the two plots should provide a solid reference to compare price action against. The swing size is adjustable and you get to choose how many of the most recent pivots you want to average. It’s a SMA of two of the most important data points of the price structure, the swing highs and swing lows.
Parameters:
* Span: defines the swing size (default = 7). The smaller the number the smaller the swings and the larger the number the larger the swings.
* PivotsToAvg: the number of the most recent pivots to average (default = 5, range from 1 to 99).
Plots:
* AvgPivotHi is the average of the last N swing pivot highs.
* AvgPivotLo is the average of the last N swing pivot lows.
* AvgPivotHiLo is the average of both the last N swing pivot highs and lows.
If trend shading is enabled, the following trend rules apply:
* To change to an UP trend: 2 consecutive lows must print above the average swing high plot, AvgPivotHi.
* To change to an DOWN trend: 2 consecutive highs must print below the average swing low plot, AvgPivotLo.
Suggestion:
* Set Span and PivotsToAvg to where the indicator hugs the price action in an up/down trend.
* Play around with the settings to discover the indicators benefits and limitations.
Included sound files for alerts (place in NT sound folder):
AvgHiLoSwingTrendUp.wav
AvgHiLoSwingTrendDown.wav
Updates:
2021-06-01 (Ver 1.1): Corrected bug in script where array list disallowed duplicate pivot values for both pivot highs and lows. This would cause the average to be incorrect if there was say two or more pivot highs or lows with the same value within the number of PivotsToAvg.
2021-06-24: Up loaded missing WAV files (look within zip file for WAV files).
Category NinjaTrader 8 Indicators and More
|
|
|
View Download Details
