Scan for patterns with the Candlestick Patern indicator

[chrille]

I just found the builtin Candlestick Pattern indicator. It's just what I have been looking for and it would be great to have it in the Market Analyzer to scan for patterns in say 5 min, 15 min, 60 min and daily timeframes for the patterns available. As it is "out-of-the-box" I need to select a pattern to scan for, but I want to be alerted whenever any of the patterns emerge. What would be the best/simplest way to achieve that?

[NinjaTrader_PatrickH]

Hello chrille,

Thank you for your post.

You could set this up in the Market Analyzer with the Candle Stick pattern indicator. Please right click int your Market Analyzer > select Columns > select Indicator > Add > select the Candle Stick Pattern from the indicator drop down. Set the pattern you are looking for the bar type and period. Once configured you can then right click in the Market Analyzer and configure your alerts.

For information on Columns please visit the following link: http://ninjatrader.com/support/helpG...th_columns.htm
For information on Alerts please visit the following link: http://ninjatrader.com/support/helpG...-us/alerts.htm

Please let me know if you have any questions.

[chrille]

As far as I understand the indicator can only scan for one selected pattern, which means I need to set up 25 different columns, one for each pattern.

[NinjaTrader_PatrickH]

Hello chrille,

Thank you for your response.

That is correct. It would need to be configured for each pattern you are looking for.

Please let me know if you have any questions.

[Willow]

Resource Intense?

Hi Patrick, would running that many (or at least a large number) of instances of this indicator be resource intensive?

[NinjaTrader_PatrickH]

Hello Willow,

Thank you for your post and welcome to the NinjaTrader Support Forum!

Running multiple instances of an indicator alone should not be resource intensive. The Market Analyzer does not render as the Chart does and therefore has less cost for performance as it is not plotting or drawing even though calculations and values are being processed for the Market Analyzer.

You can find details on our Performance Tips at the following link: https://ninjatrader.com/support/help...ance_tips2.htm

Please let me know if you have any questions.