Nr4/ib

[bet14022012]

Hi,

WANTED TO ASK IF THIS FLAG nb4/IB SCHEDULED FOR NINJA TRADER.

Thanks a lot

[NinjaTrader_CalH]

Hello Bet14022012,

Could you please elaborate more by what you mean?

[bet14022012]

The NR4/IB is basically a technique of input intradays developed by Lawrence A. Connors and Linda Bradford Raschke in his famous bestseller "Street Smarts". Those initials stand for "Narrow Range 4 Bar / Inside Bar" and, when caught many possibilities of immediate rupture sudden movement occurs.

The pattern which identifies this indicator is the appearance of a series of 4 bar, in which the fourth and last meets two conditions: the first (NR4), its maximum and its minimum are lower than the three stripes of the foregoing, therefore be close or narrow bar 4 bar; and, as a second condition, that the last bar does not exceed either maximum or minimum which precedes, which would be a bar "inside" or inside bar.

I'm interested to know if this indicator was developed in ninja trader. The following link talks about it but I am not able to find it.

http://www.ninjatrader.com/support/forum/showthread.php?t=10459&highlight=nr4

Thanks again

[Harry]

I think that the concept of narrow range and inside bars goes at least back to Toby Crabel, see his book "Day Trading With Short Term Price Patterns and Opening Range Breakout". That book was published 6 years earlier than "Street Smarts".

The indicator that I have coded is available here:

https://www.bigmiketrading.com/download/ninjatrader-7/indicators/1450-download.html?view

Membership is required for downloading indicators, but you can also send me a private message instead.

With default settings you may display:

Narrow range bar (NR7): a bar with a smaller range than the prior 6 bars

Narrow range inside bar (IB4): an inside bar with a smaller range than the prior 3 bars

Narrow range inside bar (IB7): an inside bar with a smaller range than the prior 6 bars

Double inside bar (DI4): an inside bar that is preceded by an inside bar and which has a smaller range than the preceding 4 bars

Wide range bar (WR7): a bar with a larger range than the prior 6 bars

Wide range outside bar (OB4): an outside bar with a larger range than the prior 3 bars

Wide range outside bar (OB7): an outside bar with a larger range than the prior 6 bars

Three bar triangle (LBR): a bar which lies inside the combined range of the prior two bars

You may unselect patterns not needed. All patterns can be displayed as simple paintbars or by adding a diamond or text when a pattern is detected.

[bet14022012]

I am grateful to the answer.

thank you very much