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.
The following user says Thank You to Fat Tails for this post:
I believe MXASJ has written a couple of things that do this here on futures.io (formerly BMT).
I'll ask him to take a look at this post.
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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.
Last edited by MXASJ; May 24th, 2010 at 08:53 PM.
The following 3 users say Thank You to MXASJ for this post:
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!