All of our available paid indicators are distributed in one package.
This package also includes a chart template (“PA_Indicators_ES_5min”) .
After installing the indicator package into NinjaTrader, that chart template can be
used to show a possible setup of the indicators for the ES E-mini 5 minute RTH chart.
Only the NinjaTrader 8 version of the Reversal Signal Bars indicator is compatible with BloodHound from SharkIndicators or can be used in the Market Analyzer/Strategy Builder of NinjaTrader. You can call it as well from your own NinjaTrader indicators or strategies.
This largely depends on context, trading style and stop loss (e.g. using a wider stop, than a bar stop), also on your ability to scale in. Please check out this separate post about Reversals. Also check out the Blog for more examples on how to use Reversal Signal Bars in your trading.
Confluence is very important in trading and means to have several (at least two) reasons to take a trade. Your 1st reason is the reversal signal bar/pattern and your 2nd reason can be e.g. support at HOY/LOY/COY, measured moves, trend line / trend channel line overshoot, Buying/Selling Pressure, Tick Failure Breakouts, Breakout Tests, a 2nd attempt to reverse and many more.
The default settings are “optimized” for the ES E-mini 5 min RTH chart and probably need to be tweaked especially to the “personality” and time frame of the instrument you’re trading.
If you trade the MES, load the indicator on the ES chart (the volume is much larger) and take the trades on the MES with the price from the ES contract. Sometimes the MES overshoots though.
Indicator name: PAReversalSignalBars
Show Last 200 Bars only
Show the indicator signals only for the last 200 bars, which will speed up a reload of the chart or indicator. Switch off for back testing.
Play a sound and show an alert in the alert window
Sound Alert File
Pick a .WAV file from the NinjaTrader sound folder
Enable or disable to show the different Reversal Signal Bars or Patterns
Draw Entry and Stop
The stop entry price and possible stop loss prices are drawn on the chart.
Show LMT C
Show a possible limit close buy/sell for a Signal Bar (instead of a stop entry above/below the Signal Bar). The features of the Signal Bar and relation to prior bars determine, if this shows up for a specific bar.
That is an experimental feature.
Signal Bar Color
Signal Bar Color and the thickness of the line to highlight them on the chart
IB PB and 2 Bar PB are the continuation setups
Enable or disable the display of text, text color, size and offset from Signal Bar high or low
The plots can be used in the NinjaTrader Market Analyzer.