Do we have the breakout indi for ninja ?

[blazer]

Hello ,

There is an intersting indicator for mt4 in forex factory.

Anyone made it for ninja or we have something equivalent ?

http://www.forexfactory.com/showthread.php?t=38467

Thank you

B

[Elliott Wave]

I think Affordable Indicators has something similar to this which is available for purchase, but I'm unaware of any other indicators in the shared section that are similar.






I made a quick edit of an existing indicator that might help, its the same as the pattern recognition indicator but only shows breakout patterns, to prevent the chart from getting too cluttered...

With tight stops it could be useful for capturing small moves. If it proves at all useful I might try to figure out how to draw some congestion boxes.

[Ninja B]

^^^ Thanks for the work.

[blazer]

Thank you very much for your work.

When I try to import through utilities the progie says I have programing errors.When i paste the indi in the folder with the @ in front it doesnt recognise the indi. What should I do ?

Thank you

B

[Elliott Wave]

what you could do is try to edit any NinjaScript in the editor, and then complile it. Even if you don't make any changes it will tell you what file has the programming error.

Move or delete that file from the dir and you should be fine.

Unfortunately because all scripts are contained within a single Visual C# project file (NinjaTrader.Custom.csproj) an error in any one script prevents you from importing or compiling others.

[blazer]

I did it.Compile ,delete the file,problrm solved.Thank you very much.

B

[Elliott Wave]

Glad I could help.

[Trevor.Richter]

Using breakout indi in strategy

Hi Elliott Wave -- Imported your breakout indicator and it looks great.

How would I implement it in a streategy??

Thanks in advance.

[Elliott Wave]

Unfortunately (like many NT indicators), its visual only and can't be used within strategies at this point.

[Elliott Wave]

--Update--

When I went to edit it, I noticed it was already compatible with strategies.

Anyway I made a few minor cosmetic changes and cleaned up the code a bit.

I also did a quick test and it seems to work surprisingly well in strategies as long as you set a reasonable target and stop.

Here's how to create it with the condition builder. Then simply set the action to Enter Long. Use the bear breakout plot to go short.

[Elliott Wave]

I added the option for a sound alert and to change the text offset value (depending on the time frame the text could be too far above/below the bars).

I've submitted the indicator to the file sharing section.

http://www.ninjatrader-support2.com/vb/local_links.php?action=jump&id=164&catid=1

[Bogan7]

I am not trying to be critical but from my testing it seems the breakout picks a lot of bottoms and tops (Which is real life i suppose) Have you any strategy to use with this indicator?

I added the option for a sound alert and to change the text offset value (depending on the time frame the text could be too far above/below the bars).

I've submitted the indicator to the file sharing section.

http://www.ninjatrader-support2.com/...id=164&catid=1

[Elliott Wave]

I am not trying to be critical but from my testing it seems the breakout picks a lot of bottoms and tops (Which is real life i suppose) Have you any strategy to use with this indicator?

I just did a quick test strategy to see if it would work. Using the standard settings and a profit target of 40 pips (no stop) on a 5 min EURJPY chart from the beginning of the year 61% of the trades were profitable, even though the strategy was a loser overall.

On its own it, it's probably not much, but it could still be useful as part of a system.

If its picking tops and bottoms then just go short instead of long etc. Most traders lose anyway


Or try playing with the Bollinger band period and StdDev to see what settings work best for whatever you trade.

[Bogan7]

Yeah I was thinking the same thing simply doing the opposite as from what you can grab quite a few small scalps that way if you are that sort of trader more investigation needed though.

Thanks for the quick response

I just did a quick test strategy to see if it would work. Using the standard settings and a profit target of 40 pips (no stop) on a 5 min EURJPY chart from the beginning of the year 61% of the trades were profitable, even though the strategy was a loser overall.

On its own it, it's probably not much, but it could still be useful as part of a system.

If its picking tops and bottoms then just go short instead of long etc. Most traders lose anyway


Or try playing with the Bollinger band period and StdDev to see what settings work best for whatever you trade.

[Elliott Wave]

I just posted a quick update as well so you might want to re-download.

The StdDev variable was an int when it should have been a double. Now the StdDev parameter can be fully tweaked when before it could only accept whole numbers (useless).

Please report back if you figure out if you find any good ways to use it.


(*by the way, this thread might be better in file sharing discussion or indicator development. Mods?)