What You’ll Get
Real-time NinjaTrader Indicator for pattern recognition that identifies all 123 wave patterns (a.k.a. ABC wave patterns) for both up (buying the low) and down (selling the high) directions. After a 1 point is identified, the indicator will find and label all 2 and 3 points associated with the 1 turning point. There would be several 2 and 3 points for waves of different size depending on the length of the trend. This indicator is fully customizable with options to adjust the sensitivity of the pattern recognition thresholds and use the patterns as part of your stop-loss conditions.
A 123 wave pattern is a strong reversal and trend signal that occurs when a market or stock makes a new high or low.
*The basic version of this NinjaTrader Indicator from Indicator Warehouse is for use with one NinjaTrader computer license. Multiple license packages are available.
- Labels the bars and candlesticks on the chart with a 1, 2, or 3 with the given chart pattern formation.
- Alerts you when the 3 point on the wave pattern occurs with either an sound alert, up/down triangle, or through an email alert.
- Adjust the indicator “Maximum Bars” parameter to specify how many bars in between the 1 and 3 points are allowed.
- Likewise, the indicator “Minimum Ticks Between 1 and 3″ parameter allows you to specify how close the 1 and 3 points can be and still be valid. For example, if you use “10″ for this setting, the 3 point can’t be within 10-ticks of the 1 point. This helps filter out signals you consider too “noisy” or short term.
About: Getting a competitive edge in day trading means using more than one technical analysis tool. To take full advantage of NinjaTrader's high-performance futures, forex, and equities trading platform, traders should be able to equip their own tool boxes with the perfect combination of indicators. IndicatorWarehouse.com is the right place for you to get this done - and win.