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Ninja Trader Indicator to calculate Range bar settings as equivalent to time period.
Ninja Trader 8 indicator idea.
I have been using an Metatrader utility which uses a preset time interval as a reference and automatically calculates and sets the Range Bars on the chart to match the implied time period.
I understand that automatically adjusting the Range Bars setting in NT8 is not a great idea in a day trading environment. Perhaps an indicator with simple on screen text output to suggest say 15Min bars equivalent =70R YM and 30R ES bars etc, and it will vary by time of day and ticker of course.
I trade with Range bars intraday and it is a helpful indicator to have.
Thanks and great trading to all.
Can you help answer these questions from other members on NexusFi?
what you want is Richard's virtual bar, just specify how many bars you want to group together.
"Z20091123VirtualBars.cs"
You may be able to get someone to covert it to NT8 if you need it.
I may have other versions of the indicator but will need to check my archives but they will all be NT7.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
That is very interesting. However it is not what I have in mind. I am attaching an actual screenshot of an MT4 chart and an indicator setting pop up. I was thinking of something very similar, maybe without auto changing the actual range bars setting.
Not quite. That chart paints regular range bars. But the actual range setting for the range bars is auto calculated by the indicator to roughly correspond to the predetermined time setting ( I chose 15 min). For instance if I was to change the time setting to 3 min the range bar setting would be immediately reset to a much smaller number, like 20 or 25. Effectively the chart is populated with range bars which in one day span the same space as the time based bars. It is still a pure range bar with every tick updates.
I paid for this indicator in MT4 when I used the MT4 for algo development. The developer is fabulous but to my knowledge he only codes in MT4 which is based on C+.
the ones in my example happened to be 69 Range in forex, about 7 range in the futures. No overlay. The MT4 software fits the needed range bar settings to average out an approximate fit on the daily or hourly basis. Personally I have been visually fitting range settings in NT8 to approximate corresponding minute charts over the day. I like to see about a day and a half of intraday data on the chart ( kind of like if it was a 10 min or 15 min chart). I only see regular Range bars and very little overlays of any kind. Very minimalist charts for me.
