Fibonacci Pattern Recognition Indicator for NinjaTrader
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NinjaTrader pattern indicator for pattern recognition software will scout out and find for you all the patterns on any future, forex or stock. If you would rather use a metatrader indicator for forex, you can find that on the Metatrader 4 Fibonacci Indicator page.
Unique Feature: Length of our PRZ lines tell how you long the pattern will take to play out.
Not only can you customize the look and feel of the indicator, but for total flexibility you can also customize the ratios, which patterns to scan, how specific you wish to be with the ratios and the amount of room you want to give the ratios. This is important so that you can adjust these depending on the market you trade. For example, with stocks you can be a little more specific because everyone can see the same price, but with the forex and since there isn’t one exchange you can allow a bit more wiggle room within the ratios.
What do we mean by no repainting? It means that when a pattern is detected, it will not change. In the image below you will see the high was created and the pattern was discovered. But even as price goes higher the “D” point of the pattern does not move. Repainting would mean the D point would also move higher. This is not to your advantage as a trader because you forget the initial move the pattern was created from.
Automatically Places Exact Ratios
The ratios for each pattern are drawn exactly on the screen between each leg segment to allow you to quickly pick out which patterns are most interesting.
Exclusive Feature: “Flexible Ratios”
These patterns work off specific ratios. These ratios have to be exact for a pattern to be formed. Because they are technical, if price goes one penny further it could invalidate the pattern by moving a ratio up 1% or less. Flexible Ratios allow us to decide how much room or flexibility we want to provide the patterns.
Custom patterns are much needed for the additional patterns you might want to add to the indicator, as well as changing any specific ratios. Each pattern you want to add, you just need to fill in the ratios and then save the template with all the settings. If you want to test out your own ratios or add in new patterns, this would be the way to go!
With a 2% flex built into the indicator you’ll give the pattern a bit of wiggle room with the ratios. For example, if a crab pattern has a B point of a 61.9 you would not see the pattern shown with 0% of flex because it exceeds the maximum of a 61.8. However, if the flex was set to 2% to give it a bit of room, then a 2% buffer around the 61.8 ratio would still draw in the pattern. You would see the ratios on the screen so you’ll know how much over the fib ratios price had went.
Unique Feature: Adding a bit of “flex” can expose more patterns that are very close to the ratios.
Scan Any Market for Patterns in the Market Analyzer
Don’t miss another pattern and see which instruments you trade have current patterns.
The Market Analyzer for NinjaTrader will scan any market for patterns showing you a present look at where the patterns exist. No longer do you have to waste countless time cycling through your charts to find a pattern, now all the patterns will appear however you have it configured.
The market analyzer is very customizable allowing you to adapt it for your needs. If you use any other indicators with the patterns you can add those into the market analyzer too and show which patterns for example are on the 1 hour time frame and the current value of RSI or any other built in indicator. The market analyzer puts you in ultimate control to see what you want and only what you want to see. If you are familiar with Ninja Trader all the cell conditions, alert conditions can be customized for you too.