Ninjatrader has changed the way Ninjatrader handles protected compiled indicators starting with version 7.0.1000.3. This had a side effect of making existing protected compiled indicators incompatible. Since I use one of these myself, I have refrained from upgrading. However it has been brought to my attention that my paintbar indicator that was available last year is not working with the latest Ninjatrader versions.
I’m now in the process of upgrading my Ninjatrader so that I can make a new release of my paintbar indicator. Which means it’s a good time to talk some indicators I have in development.
I stopped selling my paintbar because the Eminiwatch Pro Am Paintbar was released for Ninjatrader and quite honestly I felt the Eminiwatch Pro Am indicator was better. I’m not one to sell an inferior product.
However, for the past 6 months I’ve been hard at work on new ways of detecting professional activity which has resulted in two new indicators. The first will show professional buying & selling as a paintbar, and the second will show areas of high intensity buying and selling as markers on the chart.
At this point I want to point out that there is no magic indicator, pattern, or “setup” that can be traded mechanically to make money. This simply doesn’t exist and my indicators cannot be used in this way. My indicators simply make it easier to analyze the data.
For example, if i have determined a potential support level and I see professionals are buying that level, then that increases my confidence that the level will hold. It doesn’t mean, however, that any time I see professional buying that I’m going to go long. The most important part of trading is context and so any tools (indicators) must be used in context. I’ll be showing some examples of this in the future.
I’m still working on these indicators and how to get them to both display on a single chart in an unobtrusive manner (visually as well as performance). And I have a few more ideas that I want to prototype before they’re finished. I hope to make a beta demo version publicly available soon in order to get some feedback. If you’ve seen some of my ninjatrader charts lately on Twitter you may have already seen them.