Price Action Pattern Indicator For NinjaTrader


This nifty Price Action Pattern Indicator for NinjaTrader™ will help you find five effective price patterns featured on Trading Setups Review.

The Price Action Pattern Indicator is part of the TSR Indicator Pack.

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Features – Price Action Pattern Indicator

> Five price patterns to choose from

The indicator includes five popular price action patterns we reviewed. Click on the links below to learn more about each pattern.

  1. ID/NR4
  2. Hikkake
  3. Three Bar Reversal (for Day Trading)
  4. Three Bar Inside Bar
  5. Pin Bar

> Charts price action patterns

Marks out price action patterns with color arrows. Great for learning the historical patterns and confirming price patterns in real-time.

> Scans for price action patterns

With  NinjaTrader™’s Market Analyzer, you scan for potential price action trading setups across a universe of instruments.

Extremely useful for swing traders looking for trade opportunities.

> Filters trading patterns with trend

You can choose to use an exponential moving average to filter the signals according to the market trend.

How to Use the Indicator

First-time  NinjaTrader™ users should read this quick guide before returning to this page.

Importing Price Action Pattern Indicator

1. Open  NinjaTrader™.

2. Click on “File” > “Utilities” > “Import NinjaScript…”.

3. Select the Price Action Pattern Indicator zip file to import.

Setting up the Indicator

Parameters

1. EMA Period – Look-back period of exponential moving average used as trend filter.

2. Trend Filter – Choose if you want the trend filter to apply. If you choose “True”, the indicator will mark bullish patterns above the EMA and bearish patterns below the EMA. If not, it will mark all price patterns.

3. Price Pattern – Price pattern to mark out on chart. It marks bullish patterns with a green arrows and bearish patterns with red arrows.

(Except the ID/NR4 pattern when chosen without a trend filter. In that case, ID/NR4 patterns have no directional bias and are marked by a yellow background color on the chart.)

Plots

1. MA – It plots the EMA if trend filter is on.

2. Signal – This plot does not appear on the chart. We will use it for scanning.

Scanning for Price Patterns

1. Click on “File” > “New” > “Market Analyzer…”.

2. Right-click in the Market Analyzer window > “Columns…”.

3. Select “Indicator”.

4. Configure the indicator for scanning as shown below.

5. Bullish patterns will return the value of 1 and bearish patterns will return -1. (Exception: If no trend filter is set to false, all ID/NR4 patterns will return a value of 1.)

6. To set up audio alerts for the price patterns, you can follow the instructions on this page.

How to Really Use the Indicator

Do not trade blindly according to the price patterns marked out by this indicator. Any price pattern in isolation is unlikely to give a trading edge.

The purpose of this indicator is to highlight price patterns for your further analysis.

Have fun with the price action patterns. Please contact us if you have any feedback.

The Price Action Pattern Indicator is part of the TSR Indicator Pack.

Buy it now

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