ZoneTraderPro For NinjaTrader 8
ZoneTraderPro is pleased to announce that the system has been converted to ZoneTraderPro For NinjaTrader 8 and has been updated. The first beta ZoneTraderPro for NinjaTrader 8 has been received and is currently in testing. The initial testing does not show any significant bugs that need addressing. Visually you are not going to see much difference between the NinjaTrader 7 version and this version. But one of the huge under the hood differences can be seen in the new and improved Order Flow Power indicator.
Order Flow Power Indicator
The Order Flow Power indicator has also been updated. Previously the percentage of buying and selling was based on the ZigZag indicator. When a ZigZag occurred, a new ratio percentage would be displayed. This feature is still available in the new version, however the ratio may now be displayed based on a look back of X number of bars.
One of the reasons that NinjaTrader 8 is superior to the 7 version is its ability to build a bar without having to use market replay. So the order Flow Indicator will now print on the historical chart. The Accumulation Distribution indicator still needs a live feed for its information.
Here you can see the difference between the two indicator settings. The indicator in Pane 2 has the bars back setting of 15. So what it is telling you is the ratio of buyers to sellers over the last 15 bars. This is a great way to spot divergences, especially at the Tick Divergence trade. The Power indicator in Pane 3 is using a 6 and 6 setting. That means it is based on a 6 ZigZag setting looking at 6 price levels.
In the following example you have good divergence. There is also a nice V shape pattern. V shaped patterns are a good indication of reversal.
What happens when there is no divergence? We can see from the following trade that there was a tiny fraction of divergence.
The trade went 6 ticks in your favor and then entered a strong trend. What is even more important is what the indicator is telling you at the next Tick Divergence trade. The indicator is solid green and going sideways. There is no selling and only strong buying. Price rises to strong trend resistance and keeps climbing. This is where the indicator becomes invaluable for trading. The Power Indicator keeps you from making bad mistakes.
Upgrade to the ZoneTraderPro NinjaTrader 8 indicator for free if you have purchased a NinjaTrader 8 lifetime license. The indicator will be in testing for several weeks. If you would like to have the beta version please contact me.
New Order Flow Indicator
With the newest version of NinjaTrader 8, they released charts that can now show order flow. You need to have a lifetime license for these. I have already made a programming request to have some very highly profitable patterns coded to take advantage of the new NinjaTrader functionality. These patterns will identify exhaustion, trapped buyers and sellers, ratios, and the exclusive ZoneTraderPro Order Flow pattern. All of these patterns will be extremely helpful in your trading, so stay tuned.