Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I'm in need of and indicator that compares the difference of one indice to another. I've looked over NT's site and this one but have come up empty handed. The details are as follows:
value = (NQ closing price RTH - NQ current last price) / (ES closing price RTH - ES current last price)
What this gives me is the overall bias of the market. Currently I do this in my head throughout the day but life would be much easier if it was just plotted.
So if someone could point me in the right direction whether that is an existing indicator or something that would need programming, it would be much appreciated. Currently I'm using NT 7 beta 16.
Moderator Notice
Changed thread title from "Looking for an indicator" (non-descriptive) to "Compare the difference of one indice to another". Moved from Vendors/Commercial to Indicators. -- Big Mike
Can you help answer these questions from other members on NexusFi?
Such an indicator is not directly available. The indicators that are close to what you are looking for are
- Pairs Ratio from NinjaTrader Tim's Pairs Suite
- Ratio Indicator from kdoren
Both indicators can be downloaded from the NinjaTrader forum.
To get what you are looking for, you would have to normalize the ratio to 1 at the moment of the close. You could do this by adding a user defined value to the indicator to be adjusted manually or by autocalculating the factor from the ratio of the close values. To get the close values you would need to define the approriate session and let the indicator collect the values at session break.
This indicator plots the ratio between two instruments. The default quantity is 1 (1*x/1*y, for example), though that can be changed in the dialog.
Attached is a monthly chart of the Gold/Oil ratio as an example.
Version 3.12 posted 16 May 2010 by …
That indicator plots the ratio between two instruments of a given quantity. You could tweak the code in the RatioCalculator method to make it your own formula for spreads, differences, etc. Here is what that method looks like now:
As Fat Tails points out something that would require some thought is how to add the two new dataseries of a different session template if you want to use this indicator outside of RTH. If both yesterdays close and Now are only used for RTH it is fairly simple to do.
Thanks for the reply!
I'm in a situation where I can program just enough to be dangerous, I no nothing about NT programming. With that said if I could get you to help me maybe or you could do it? On your recommendation having this only work during RTH would be acceptable. Please advise.
OK I'm stumbling along.....I have found an indicator that I can hack. All I need to do is copy and rename the existing indicator so I can make some changes. But I'm not sure how to do that also keeping in mind that I want to continue to use the original indicator. Once I get past this point I can open the indicator in the NT editor and make the change and compile. Any help would be appreciated!
Thanks
copy or save it to My Documents\NinjaTrader 6.5\bin\Custom\Indicator (or ...\Strategy if a strategy cs file).
from the Control Center, Tools-Edit NinjaScript-Indicator (or ...-Strategy if that)
double click on any file name in the list that is displayed
…
copy or save it to My Documents\NinjaTrader 6.5\bin\Custom\Indicator (or ...\Strategy if a strategy cs file).
from the Control Center, Tools-Edit NinjaScript-Indicator (or ...-Strategy if that)
double click on any file name in the list that is displayed
…
So I was successful in hacking my 1st indicator!
William,
Did you post your version? I am thinking use this on range bars, historical, intraday monitoring of the ForX pairs, but not in a strategy. What did your modification consist of?