Building a market scanner with NinjaTrader 8’s Market Analyzer
July 18th, 2024
In the recent NinjaTrader Ecosystem webinar, “How to Build a Market Scanner,” Ferenc Meszaros of Remek! Trading Systems discussed how to build an effective market scanner using NinjaTrader 8’s Market Analyzer.
With a market scanner, traders can use quantitative tools to create objectivity that makes trading easier, allowing them to monitor multiple markets efficiently and simultaneously.
Building a market scanner with multiple indicators from disparate sources allows for standardization. There are hundreds, even thousands, of market scanners out there for use by traders. This market scanner:
- Converts visual information into numbers
- Attaches emails and sound notifications to events
- Identifies correlations between markets
- Standardizes risk and price movement
- Identifies setups and triggers
- Keeps you informed without relying on charts
- Executes trades with your strategies in place
Meszaros says that when you use this market scanner, you can still open the charts, but you don’t have to. All the information—everything you need for trading—is in one easy to view and simple to digest format.
Furthermore, this trading tool is designed to help traders not feel chained to their desks, studying their monitors for 8-10 hours a day. With email and audio alerts, you can move around throughout the day, only receiving notifications when the asset class or commodity you’re monitoring breaks out or moves in a manner that requires you to make a trading decision.
Meszaros goes in depth on their market scanner in the full presentation. Watch a sample clip here:
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