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dpLadder v1
What is a Fib? Or support/resistance? Or a supply or demand level? All of these terms describe areas on a chart where price action does something; they represent areas where professional traders reveal themselves and their intentions. I had this indicator built by TradingCoders out of Australia, they’ve built many indicators for me and all work extremely well. James, the head developer, can code anything you can think up.
The dpLadder is a swing-based indicator. But what is a swing? It’s a place where price has had a change of heart. I wondered what a chart would look like if, between swing-points, I plotted Fibs. I’m sure many of you had the same thoughts and I decided to automate it. Add the Ladder to your chart. It will automatically use two recent swings as the high and low and plot a Fib between them and will then propagate the ‘rungs’ of the ladder above and below those two swing-points while plotting Fibs between the rungs.
The indicator also has the ability to use a second timeframe and repeat the ladder-building process. So, while my chart may be a 1 minute, internally the indicator can be using a 30-minute data series to plot wider swings and therefore a second set of Fibs. All the Fib lines are color/style/thickness/opacity adjustable.
The controls for the indicator are placed on the chart for fast access. The ‘dpLadder Update’ button will cause the indicator to look for new swing-points. The ‘Show-Hide Fibs’ button will hide the ‘internal’ Fib lines while keeping the primary swing-points, the 0% and 100% lines, which make the rungs of the ladder. The ‘PriceL’ and ‘PriceH’ input fields allow the user to manually choose the swing-points and the indicator will then redraw the chart with those points as the basis for all ladder rungs and Fibs. Input for those fields is entered from the right side.
Category
NinjaTrader 8 Indicators and More
Details:
dpLadder v1
Category:
NinjaTrader 8 Indicators and More
March 2nd, 2023
Size: 9.36 KB
Downloaded: 863 times
Keywords:
fibs
swing-points
2619
DaveP711
Comments/ratings
Trader604
March 2nd, 2023 08:17 PM
I have been doing this manually so THANK YOU!!
ballhaj
March 3rd, 2023 08:29 AM
thanks
prutrader
March 3rd, 2023 11:38 AM
Excellent , Thanks
tcwairoa
March 4th, 2023 01:53 AM
Awesome, many thanks.
thkamm
March 6th, 2023 07:22 AM
Gives me reliable levels and targets. Thank you for this!!!
fquan44
March 6th, 2023 08:23 AM
This is awesome
cv2low
March 6th, 2023 08:55 AM
Thanks, this is great. I reset it after the open and it's really useful.
sukhsan
March 8th, 2023 08:53 AM
No Comment
Rickb
March 8th, 2023 02:20 PM
Thanks
Rickb
March 8th, 2023 02:20 PM
No Comment
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