NT7 vs NT8 - daily bars "fully formed"

[REI140205]

In NT7, I understood daily bars were received "fully formed" (so session templates did not affect the bars) and that the daily bars are used to build weekly and monthly bars. In effect my day/week/month charts were all RTH.

Comparing my NT7 and NT8 d/w/m charts (at least for ES), it looks like NT8 charts are ETH, while NT7 are RTH. Is there any more information available on this for NT8, including whether NT permits session templates to be applied?

Thanks.

[NinjaTrader_Kate]

Hello REI140205,

Thank you for your post.

For NinjaTrader 7, we used RTH values for daily. When we made the switch to NinjaTrader 8, we saw a greater demand to use ETH values for daily data. It would not be possible to change these settings as it relates to daily charts or any bar type built from daily data.

If you would like to apply a different session template to daily charts, you can use a period value of 1440 minutes instead of one day. To apply a different session template to a weekly chart, you could use a minute value of 10080 (1440 x 7).

Feel free to contact us if you are ever in need of support.

[REI140205]

My apologies for poor forum searching skills, as I found a 2-year ongoing thread on a subsequent search attempt. That thread has some 50 posts (reference SFT-1062). I now better understand the switch that occurred and that: 1) NinjaTrader 8 does not support RTH daily, weekly or monthly charts; 2) the "1440 minute/RTH session template" approach works to get Daily RTH charts; and 3) the "10080 minutes" or similar approach does not work for weekly or monthly because bar open/close is not guaranteed to coincide with start/end of week and month periods.

I see contributor Ronny was kind enough to post an interim measure, which I will try and then compare to d/w/m bars in NinjaTrader 7 for my own validation purposes. Thank-you Ronny.

Please add my vote to the list for adding the user option to select either ETH or RTH d/w/m bars. I see "demand" was listed as a major reason for the switch to ETH daily bars. Respectfully, I would like add a new reason for choosing one option over the other - pick the option you have proven to more accurately reflect market behavior. I believe accurately charting price is a goal that rightly takes precedence over trader preference. In the absence of proof, provide both options.

Personally, I favor RTH for d/w/m because I repeatedly observe instruments like ES to bounce very precisely off key RTH prices, most recently the bounce off the 200SMA_weekly in December. You saw it if you chart RTH, but not if you chart ETH. RTH 1440 minute charts would not have helped you. My observations accumulated over years serves for me as my proof to support my opinion that RTH more accurately reflects market behavior. In addition, I see many trading methods (like market profile) based on RTH, but not aware of any that emphasize ETH over RTH. As a retail trader, I endeavor to follow financial institutions not other retail traders, so if it was the former group was behind the demand for ETH over RTH then so be it, I defer to their better judgment.

I am willing to accept that proving one option is better than the other is extremely difficult if not impossible. In such cases, I believe the prudent approach is to offer both choices and let each trader decide based on their personal belief/opinion of which is better in the absence of facts. That way we respect all trading styles.

I look forward to seeing updates on SFT-1062.

[NinjaTrader_Kate]

Hello REI140205,

Thank you for your reply.

I have submitted your vote for SFT-1062 to our development team - our development team is still tracking interest.

Please let us know if we may be of further assistance to you.