Plotting the difference of price/indicator or of any 2 indicators in Ninjatrader
Has anyone created/used in ninjatrader an indicator calculating/plotting the difference between either price and any other indicator of interest, or any two indicators of interest? For ex plotting histogram of the difference between price and supertrend, or the difference between any moving avg and supertrend, or any other indicator of interest.
A difference between the ADX and the PPO does not make sense to me, because the indicators do not use the same scale. However, the objective might be achieved with calculating a difference from the z-scores.
The following user says Thank You to Fat Tails for this post:
When there is minimum of price f(x)
together with concomitant:
1) significant minimum of a measure of momentum, m(f(x)),
for ex. PPO (or MACD, or else? I do not know)
2) significant maximum of a measure of trend strength, t(f(x)),
for es. ADX (or other trend measuring function? I do not know)
the Price quite often, at different timeframes, goes in an uptrend
I did not consider the different scales of the two indicators, but I am using them combined only looking at the charts, which is time consuming. Anyway I was trying to find some help to convert this graphical analysis into a script for screening various instruments in various timeframes. I attach an image with a few examples.
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