Trend Trade Pattern
In the coming days the NinjaTrader version of ZoneTraderPro will be updated to include the trend trade pattern. The update is free to all registered users.
The update will feature a new pattern to the Ninja version. The new pattern is the eSignal version of the trend trade, but with a filter. The pattern for the trend trade is simple. First the market will trade at a blue countertrend zone (where you see -554 TICK value) and then market price will retrace to the intermediate zone (at the 293 TICK value).
Pattern Filter
There will be a filter built into the trade also. The filter will look at the TICK numbers and will have an initial value set to zero. A setting of zero will mean that as in the case of this short trade shown above, there must be a lower low at the blue counter trend zone, and a lower high when the price reaches the intermediate zone for the trade. Setting the filter to a higher value will loosen that requirement by the number input. If you want to allow the TICK value to be exceeded by 50 the variable Tick Filter would be set at 50. You also have the option of completely disabling the trend trade pattern by setting the enabled value to false.
The current version of the software identifies the pattern directly following an exhaustion trade as a trend trade. This will be changed, and now be called the Exhaust Trend pattern.
Two patterns – Same Trade
It is possible to have two patterns appear on a chart, especially following an exhaustion. It does not mean that there is greater odds if there are two signals, it just means that two patterns formed.
Here we see a being indicated
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