System Documentation For Using the NinjaTrader 8 Dynamic Trigger Range Indicator
Once you’ve installed the NinjaTrader “Power Emini Dynamic Trigger Range Indicator” your chart will look something like this. (Note the Trigger Range only appears on the chart when the Momentum System is online).
The example above shows what the indicator will look like when set to the Momentum System algo and there’s an active Alert. If there is not an alert at the time you will just see the Dynamic Trigger Range on the chart (during market hours when the system is online).
Switching between Momentum and Scalper
The top parameter “Power Emini system” setting in the indicator has a drop-down box where you can select from the Momentum or Scalper. When you first install / apply the indicator to your chart, the Default will set on Momentum.
SAVE Your Workspace Whenever you Close Ninja
Be sure to save the workspace to prevent having to apply the indicator to your charts all over again. When you configure or change any Parameters be sure to SAVE the Workspace again. It’s a good idea to always click Yes to Save the Workspace when you close NinjaTrader so it opens back up looking just like you left it.
You can use this indicator on any chart type, and also have concurrent charts open for ES, MES, NQ, MNQ, YM, MYM etc. if desired and run the indicator on each. You can also choose between the Momentum and Scalper system for any of the symbols – everything you see on the chart reflects the corresponding Tab in the Alert Software.
To change the “system” just right-click on your chart and select “Indicators”. Scroll up to the top of the Parameters and click next to the word Scalper or Breakout to get the drop-down box to change systems. (Parameter #1)
The indicator automatically knows which symbol to use based on the chart you have the indicator loaded on. Just change the Symbol on your Ninja chart and the indicator will automatically adjust everything on the chart. The Dynamic Trigger Range lines will only appear on the chart when the corresponding system – Momentum or Scalper – is online and active.
Here are the available settings and default colors for the dark or black color skin charts – you can experiment with the colors to suit your preference. If you’re using white or light charts you will want to change the various colors so they show up good on your charts.
Choosing the System algo
The top parameter “Power Emini system” setting in the indicator has a drop-down box where you can choose the Scalper or Momentum algo.
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.
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 Target 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.
Power Scalper System Settings
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.
On your chart the Alert Price / Trade Price Barrier will display as a Green or Red horizontal line. The upcoming Target will show up as a thick orange horizontal dotted line.
The Dynamic Trigger Range is your Visual Reference Point
When you have correctly “applied” the Dynamic Trigger Range Indicator to 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 and receives real-time levels from the back-end server.
(If you ever 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”.)
To easily distinguish the Dynamic Trigger Range on your charts you can choose a color for the “Dynamic Range shading” in the parameter settings (it’s set to Gainsboro by default), just change the color to something light enough that you can still see the price bars when the price is inside the range. You can choose to make it transparent and there won’t be any background shading inside the range.
You will also want to make the following chart settings.
Right Click on chart – choose properties -> Right Side Margin = 120
(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). However there will be cases where the price breaks out of the range and you get an Alert, only to see the price move back into the Range. If the Alert isn’t “confirmed” by a 1-minute close past the Alert Price / Trade Barrier then the Alert may disappear after a period of time.
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