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.
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 …
The following 3 users say Thank You to cory for this post:
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
