Indicator based off of Level II

[ptamang]

Hi,

I was wondering if there is a add on or some indicator that takes the data from level II and shows the "future" prediction of the market in an indicator?
and if not, is it possible to create one?

[NinjaTrader_BrandonH]

Hello ptamang,

Thank you for your post.

I am not personally aware of an existing script but this thread will remain open for any community members that may know of one

Making a future prediction would require a technical study, however you could use OnMarketDepth() for reading level 2 data. OnMarketDepth() is called and guaranteed to be in the correct sequence for every change in level two market data (market depth) for the underlying instrument.

Here is a Help Guide link for more information about OnMarketDepth - https://ninjatrader.com/support/help...arketdepth.htm

OnMarketDepthEventArgs represents a change in level two market data also known as market depth and is passed as a parameter in the OnMarketDepth() method.

Here is a Help Guide link for the methods and parameters that may be used for OnMarketDepthEventArgs such as Price, Time, and Volume - https://ninjatrader.com/support/help...heventargs.htm

Please let us know if we may further assist.

[ptamang]

Hi,

Yes Technical analysis is definitely a go for sure. But I was more looking for an indicator line that would show where the market is going to head based off of level 2 . Yes I can always look at market Depth or SuperDOM or level 2 itself but was hoping that there was an indicator for easier view.

But yes, please do leave this post open so that if anyone knows of it, they could provide some insight!

Thank you
Prabin

[NinjaTrader_BrandonH]

Hello ptamang,

Thank you for your note.

I am not personally aware of an indicator that plots a line that shows where the market is going based on level 2 data. However, the MarketDepthMap indicator that comes with the NinjaTrader OrderFlow+ package can display level 2 data as a heatmap on the chart.

Here is a publicly available website link for more information about the OrderFlow+ package - https://ninjatrader.com/Order-Flow-Trading

Or, EdsLevel2 Indicator is publicly available on our NinjaTrader Ecosystem website:

https://ninjatraderecosystem.com/use...indicator-nt8/

Here is a basic guideline of how to import NinjaScript add-ons in NinjaTrader 8:

Note — To import NinjaScripts you will need the original .zip file.

To Import:

1. Download the NinjaScripts to your desktop, keep them in the compressed .zip file.
2. From the Control Center window select the menu Tools > Import > NinjaScript Add-on...
3. Select the downloaded .zip file
4. NinjaTrader will then confirm if the import has been successful.

Critical - Specifically for some NinjaScripts, it will prompt that you are running newer versions of @SMA, @EMA, etc. and ask if you want to replace, press 'No'

Once installed, you may add the indicator to a chart by:

• Right click your chart > Indicators... > Select the Indicator from the 'Available' list on the left > Add > OK

Please let me know if I can be of further assistance.

The NinjaTrader Ecosystem website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. The add-ons listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. NinjaTrader Ecosystem LLC is not responsible for the accuracy or content of any product, service or company linked to on this website.

Please let us know if we may further assist.