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Hi All,
I am reaching out to this online community to see if someone can help me converting an indicator to NinjaTrader platform.
I have found this little MT4 indicator which seems to be helpful in identifying the trend. It is called TMA (tunnel moving averages?) I am not sure if NinjaTrader has any similar indicator or not. I have looked at Keltner Channel indicator but it is too choppy as compared to this TMA indicator.
Explanation: As I understand this indicator consists of 3 parallel bands. Middle band is a LWMA (Linear Weighted Moving Average) which is typically set at 56 LWMA and outer bands are 2xATR(100). It would be great if some can point to a similar indicator on Ninjatrader or can code this to NinjaTrader in his spare time.
I am attaching a screenshot and MT4 code with this post.
Can you help answer these questions from other members on NexusFi?
Inspired by my time in Felton Trading live trading room, this ind. is a multi selectable MA(currently BMCollectiveMAv2, EMA, EMADouble, TEMA, EMAZeroLag, HATEMAZeroLag, TEMAZeroLag, HMA, HoltEMA, JMA, LinReg, SMA, TMA, TSF, VWMA, WMA) with offset …
Thanks for a quick helpful reply. The MA envelope indicator is very close to what I was looking for. I am tinkering with settings to see if I can fie tune it. It seems to be very flexible indeed.
I don't think this MA envelop alone can make profitable trades possible. It is just one of the pieces of a trend following system and I hope it would help in recognizing the breakouts & pullbacks.
Having said that, I have used this indicator with EMA 30 as the center MA with 2.5ATR envelope with promising results on a 30 minute Forex chart. YMMV
