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$49.00

Remaining Daily Range NT7   download

Please, download and try the add-on before buying. Evaluation period is 12 days.

Add-on for NinjaTrader 7 Trading Platform.
NinjaTrader

Remaining Daily Range

References

We all aware on basic static references like the previous day's high, low and settle, the opening price of the pit session, weekly high and low, etc. All of them are basic yet very significant levels. A market behavior around those references carries an important information. There are also a plenty of dynamic references so liked by short-term and day traders. Some of the simplest but most powerful are levels based on Average Daily Range.

Average Daily Range (ADR)

ADR is one of the genuine metrics of the market's volatility. This makes the levels based on it to be usable in any type of market conditions. Such natural adaptability and the fact that everyone is able to quickly calculate ADR made these references into the basis of potential target forecasting technique used by floor traders and many other professional day traders. The Market will actually change its personality from month to month, from season to season. Quiet summer, aggressive September, active winter… Once it is done trading in a certain fashion it will change for an upcoming period of time. The technique will still work because of using daily range calculations which looks at a recent period of time.

Though you will often see some sort of reaction around these levels (and this may be of interest to scalpers), the main application remains to be a target forecasting for intraday and short-term position traders. Professionals use that statistical fact that the market* often establishes one of the daily extremums early in a pit session. If you can identify that the low or high have been formed early enough in a session you can then project average range from that low or high to estimate a level as to where price likely headed.

Short demo:

With the Remaining Daily Range you can simply put those levels on the chart. No more need to keep a daily spreadsheet. No more need to adjust level lines manually when a current session extends its range. Unnecessary things to take care of might be unwelcome in the heat of the battle. And the most advantageous is that the Remaining Daily Range makes it easier for you to make investigations on a long period of historical data of your traded instruments.

Features

Installation

If you are new to NinjaTrader please watch these two short videos on how to download and install add-ons:
Part I — How to install an indicator in NinjaTrader.
Part II — Purchasing and license generation.

1. Download the .zip archive with the NinjaScript assembly (see the link at the foot of the page).

2. Run your NinjaTrader trading platform, go to the “File→Utilities” menu and choose “Import NinjaScript…”.
Import NinjaScript

3. Select downloaded .zip archive and click “Open”.
Then if the installation was correct you will see the success message.
Install success

After that you can add installed indicator to your chart.
Adding the indicator

If you want to uninstall add-on, please use “Remove NinjaScript Assembly…” item of the “File→Utilities” menu.

Please, download and try the add-on before buying. Evaluation period is 12 days.

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