NinjaTrader™ NinjaTrader is the preferred active trader platform for traders worldwide including our clients. Whether you are just getting started or have been trading for years, NinjaTrader’s easy to use and feature rich platform provides everything you need to be successful day trading the markets. Jun 14, 2012 Chart Pattern Recognition Hello Everyone, I was wondering if someone had tried to develop indicators based on chart patterns for NinjaTrader (or MultiCharts ). ![]() I've just received the Metastock Add-in by John Murphy of TA of Futures Markets Fame. There are two explorations which identify head and shoulders tops/bottoms, double/triple tops/bottoms and ascending/descending/symmetrical triangles. The small booklet that accompanies the software is refreshingly honest about how difficult it is to define and identify patterns and there are three tables of results for 3 selected years (with varying market conditions) that give an average hit rate of around 50%. This can be improved by the user by judicious selection of patterns. For current market there is one signal. SMWH - double top breakout My first thoughts on the software are positive. Darth, I too have used John Murphy's CPR in the past. On the odd occasions that it does identify chart patterns, they are certainly definitive patterns. One small qualm I have though is that I do truly believe that it is near impossible to mathematically quantify all permutations of a group of chart patterns. With all the variations in time horizon, depth and width, I prefer to keep the process of identifying chart patterns manual. I do like to automate my filtering for breakout patterns (or other dpending on current market charachter). From that point, after having a short-list of possible candidates, I will visually assess the chart pattern situation (as the chart pattern will generally dictate my entry and exit strategies). Irrespective, it's always good to have another tool in your arsenal, and like they say, if it leads to just one good trade, then it's paid itself off! Regards, Austrader. Tips For Trading With Indicators Whether you use MT4, NinjaTrader or even spread bet, trading with indicators can be dangerous. Having added your new indicator to your chosen trading platform testing your trading method must be your first port of call. Expert advisors need to be tested just as much as any indicator if not more. Make sure you test back and forth to find any errors in your system. Once you like the results you see you can now try your method on a demo account. After demo'ing your trading system, move on to live trading. ![]() But remember a system is only as good as its weakest link; make sure you know what it is. Don't keep trying to improve a working trading method. System trading with indicators can only as good as the trader using them. MT4 Trading Guide The MT4 trading platform is a very simple trading platform which has brought financial trading in to peoples home across the world. Whilst predominantly for forex (fx) trading the popularity of the platform has allowed for expansion into other financial markets such as commodities and futures. Below is simple guide to using your MT4 Platorm. Installing Metatrader Indicators is quick and easy and you can have your trading system up and running in a matter of minutes. Mutliple MT4 Servers allow you to choose which broker can provide your platform data and which provider you would like to trade through all without having to have multiple platforms installed. ![]() Custom indicators are the ultimate benefit of trading vis MT4 platforms. You can create indicators that are completely custom to your needs. Expert Advisors allow you totrade your systems automatically allowing you time to research and create new trading methods. Chart Pattern Recognition Software FreeDon't worry all is not lost. If your platform is set up correctly lost charts will be a thing of the past.
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