- Short: Lowest and anchor number of bars to lookback
- Intermediate: Middle range number of bars to lookback
- Long: Farthest number of bars to lookback
- Overbought: Value between 0 and 5
- Oversold: Value between 0 and -5
This nice indicator came from P.N. Haurlan idea, published in his book, several years ago but is still a good approach on how markets can be spotted as overbought and oversold based on the accumulation / distribution levels. QWT variation added a bold approach, exploring prices reversals with Fisher Transform.
This computation shows us a very smooth line that respects price action and works more efficiently that common RSI because uses Volume as part of its analysis.
We provide this as a free indicator and open code so traders can give a feed back how can they improve their analysis and probably adding some ideas to improve the performance. We also inserted green and red arrows to help the side interpretation. More info: quantwisetrading.com
- Calculate mode: OnBarClose
NinjaTrader Strategy Integration:
- Signal_: Index:
- Crossing above 5 = overbought
- Crossing below -5 = oversold
- Can be used in Strategy Builder
- Can be used in 3rd-party indicators, strategies
- Instruments: futures, indices, stocks
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: Any.
NinjaTrader 8 platform
|File Size||9.0 KB|
|# of Downloads||371|
Importing to NinjaTrader 8 is Easy!
To import your 3rd party app or add-on to NinjaTrader, simply follow these 3 steps:
- Download the app or add-on file to your desktop
- From the NinjaTrader Control Center window, select the menu Tools > Import > NinjaScript Add-On…
- Select the downloaded file from your desktop
Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.