System Documentation For Using the NinjaTrader 8 Dynamic Trigger Range Indicator
Once you’ve installed the NinjaTrader “Power Emini Dynamic Trigger Range Indicator” there are several Parameters you will want to customize. The examples below are for the Ninja 8 indicator, but if you’re using NT7 everything should be similar. (NOTE: For NT 7, a setting that is “False” is the same as having a check-box unchecked in NT 8).
The download / install page has the recommended settings for the color scheme, depending on whether you are using the light or dark Ninja color scheme on your charts. The image below has the recommended settings for the dark color scheme and you can see all the available parameters.
To access the indicator settings, right click on your chart and choose “indicators” (or you can click the indicator icon at the top of your chart). This is the screen you will see for customizing the indicator parameters.
Choosing the System Algo
The top parameter “Power Emini system” setting in the indicator has a drop-down box where you can select from the Scalper, Momentum, or M1 Channel.
NOTE: The M1 Channel is used for testing purposes.
It is important to understand that your chart settings (symbol and timeframe) and indicator settings (Momentum / Scalper) correspond to specific tabs in the Alert Software and you want to be sure everything is set correctly so they match up.
Below are examples of how you would have your chart / timeframe / indicator system and Alert Software tab for ES. To switch to a different symbol simply change the symbol on your Ninja chart and then switch to the corresponding tab in the Desktop Alert Software.
Note that you can have as many charts with as many different symbols as you want up on your screens. Just apply the indicator to each chart individually and make sure you have everything set to correspond to one of the tabs in the Alert Software.
Here’s a “collage screenshot” of how your chart settings and indicator system settings should look to correspond to the ES-S tab in the Alert Software.
ES Scalper System setup
The ES Scalper entry triggers off a 20-second chart and you want to make sure the indicator “system” is set to Scalper and you have ES (or MES) selected as the instrument. This corresponds to the ES-S tab in the Alert Software.
Configuring a 20-second chart for the Scalper
NOTE: A 20 second chart timeframe isn’t a default in NT8 so you will need to click the time interval on your chart, then click “configure”. Select “Second” then select “15” over on the right – hit “edit” and change the “value” to 20. Click Apply and OK and now you have a 20-second chart available in your drop-down box for selecting the timeframe.
Momentum Target System Settings
Here’s how your chart settings and indicator system settings should look to correspond to the ES-M “Momentum Target System” tab in the Alert Software.
ES Momentum Target System
The ES-M tab in the Alert Software corresponds to the Momentum system choice in the “system parameter” setting in the indicator. The Momentum system entry triggers off a 1-minute chart, however after you trigger in we recommend using a 5-minute chart to follow along with the Targets and Trailing Stop.
Important Note: When you are trading the Momentum Target System be sure that the check-box in your Ninja indicator for “Dynamic Targets” is unchecked. This is because the Momentum system system generates its own specific targets. For the Momentum Target system the next Target will show up as a thick orange dotted line on your chart. Also remember that Alerts for this system are not based on the price breaking out of the range – follow the Trade Price Barrier Alert in the Desktop Alert software.
Turning On the System Trailing Stop for the Momentum Target System
By default the Trailing Stop parameter is turned off – so you will need to check the box in the parameters to turn it on for the Momentum Target System. There’s no system trailing stop for the scalpers – you want to use the recommended initial and trailing stops for the Scalpers discussed on their respective documentation pages.
Turning On the Parabolic Stop – For the Momentum Target System
The indicator allows you to employ two types of Trailing Stop Alerts. The main system trailing stop represents the wide stop designed to keep you in the bigger runners. The parabolic exit stop (orange rectangles) is triggered by high momentum/parabolic price moves that are unsustainable over the short term and can help a trader protect and capture extra ticks by tightening the stop. Note: The default setting for the Parabolic Stop Threshold is 2.00 points. This means in the case of a LONG that the low of the bar must close at least 2.00 points past the main barrier to allow the parabolic stop exit to trigger. (High of the bar in the case of a SHORT). Preferred settings are: ES Scalper = 2.00 NQ Momentum = 5.00 CL Momentum = 0.25 and ES Momentum = 4.00
Plotting The Dynamic Trigger Range Indicator
When you have correctly plotted the Dynamic Trigger Range Indicator on your Ninja Chart the indicator will automatically connect to the back-end system and receive the same alert information as your Power Emini Desktop Alert software.
The Dynamic Range Indicator is an On-Chart Extension to the Desktop Alert Software system alerts and is online when the main systems are online. The Indicator receives alerts real-time only. The indicator is designed to install in the Basic setup mode by default. This includes the Dynamic Trigger Range High/Low, the 2 visual proximity alerts, (i.e. green diamond, pink dot) and Basic Alert Price information and time stamp.
(If you think you see any discrepancy on your chart or it ever appears to be stuck, you can right click on your chart and choose “Reload NinjaScript” and or “Reload All Historical Data”.)
If you are using White charts you can choose “shading” for the Dynamic Range in the parameter settings, just change the color to something light enough that you can still see the price bars when the price is still in the range. Light Gray is a popular choice and also looks good on the Black or dark charts.
You will also want to make the following chart settings.
Right Click on chart – choose properties -> Right Side Margin = 150
(so the price bars aren’t squished into the Range High and Range Low value labels)
Time Schedule for When the Various Systems are Online and Live
NOTE: You will only see the Dynamic Trigger Range appear on your charts when that specific system is online.
The Scalper systems (-S tabs) run around the clock when the Futures market is open – including the Globex session.
The Momentum systems (-M tabs) start up 5 minutes after the cash session starts. You won’t see the Dynamic Trigger Range on the charts until the system comes online. Note that the system will generate an Alert only after the price breaks out of the Dynamic Trigger Range. Depending on the price action it may be shortly after a breakout – or it may take some time.
When the price is inside of the Dynamic Trigger Range there won’t be any alerts (we are trading breakouts of the range).
Saving your settings as a Template
Note: Anytime you customize and save settings to your Dynamic Trigger Range indicator you can save your entire chart as a Template and this will lock in your settings for future use should you wish to reload to a new chart. Right click on your chart and choose Templates -> Save As: and give your chart + indicator a name for future use.
Once you have everything set up and working – and your parameters are configured the way you want them – be sure to SAVE your Workspace in NinjaTrader. When you close Ninja it’s a good idea to always click “yes to all” to save everything so that it will look exactly like you left it the next time you open Ninja.
Here is the link to the online documentation for NinjaTrader 8
If you need help learning the basic functionality of the NinjaTrader8 platform please refer to their manual.
If you have questions or need help with the Power Emini NinjaTrader indicator please email email@example.com