Proposed NEW indicator- Ease of Movement Individual Candle (EMIC) Indicator

[safari steve]

Hi – I’m not a coder and have no idea how hard it is to create the proposed indicator. I would be grateful for advice on how to proceed.

Is it possible to borrow code from other existing indicators on NT8 to make this indicator? Could I teach myself how to code and make it myself? Or do I need to consider the services of a professional coder, and what type of cost is that likely to entail?

Outline of the requirements for the proposed Ease of Movement Individual Candle (EMIC) indicator:
I want to identify candles that are moving more “easily” compared to the candle before, and assign a value to the relative 'ease of movement.' Each completed candle can be analyzed in terms of how many contracts on average it takes to move one tick. This can be done by dividing the number of contacts over a time period by the total number of ticks moved. For the purposes of my strategy I am only interested in analyzing how far the candle moves between the OPEN and the CLOSE. I am not interested in the HIGH or LOW. I know that NT8 has an Ease of Movement Indicator, but it is based on a calculation of the HIGH and LOW of the candle not the OPEN and CLOSE. It is also based on positive and negative values for bull and bear candles respectively.

Below is an illustration of the relevant calculations I want to achieve for three example candles.

	# of Ticks between OPEN and CLOSE	# of Contracts for that candle	Number of contracts per tick	Comparison of the ‘contracts per tick’ compared to previous candle	Interpretation of the result
Candle 0	2	18238	9119	-	-
Candle 1	25	21813	872	9119/872 = 10.4	Candle 1 is moving 10.4 times more easily than Candle 0 between the OPEN and CLOSE
Candle 2	12	13807	1150	872/1150 = 0.8	Candle 2 is moving 0.8 times more easily than Candle 1 between the OPEN and CLOSE

I only want to focus on candles that are moving at least 2 times more easily than the previous candle.

In terms of visualisation I would like to have the relevant number appear on the bottom or top of the relevant candle. For a bull candle that has moved at least 2 times more easily than the previous candle it would appear as a number at the bottom of the candle. In my example above candle 1 would have the number 10.4 below it. Candle 2 would have nothing because it failed to have a value greater than 2.

For a bear candle that has moved at least 2 times more easily than the previous candle it would appear as a number at the top of the candle. I have attached a picture of the type of result I am hoping to achieve.

[NinjaTrader_ChelseaB]

Hello safari steve,

I always encourage taking a shot at creating it. You'll learn a lot and may even be better at being able to direct someone if it comes to that.

Below is a link to a forum post with helpful resources on getting started with NinjaScript and C#.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/indicator-development/97575-sample-scripts?p=786040#post786040

With 'Number of contracts per tick', are you referring to the volume?
That would be Volume[0].

https://ninjatrader.com/support/helpGuides/nt8/iseries_volume.htm

Ticks between the Open[0] and Close[0] (not the high or low, and using the absolute value so either the close or open can be higher):

double ticksOpenToClose = Math.Abs(Open[0] - Close[0]) / TickSize;

https://ninjatrader.com/support/helpGuides/nt8/open.htm

https://ninjatrader.com/support/helpGuides/nt8/close.htm

https://ninjatrader.com/support/helpGuides/nt8/ticksize.htm

https://learn.microsoft.com/en-us/dotnet/api/system.math.abs?view=net-7.0