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FP_PriceBox V1.0
This indicator plots a semi-transparent rectangle with user defined inputs for the Opacity, Border Color, Height and Width of the rectangle.
This rectangle stays centered over the CLOSING price, and moves with it, so you know how far away your limits are from the last traded price.
Useful to visualize how far away your total risk tolerance may be from current price upon entry.
Example:
if you know your max risk tolerance for a particular instrument is 20 tics, set the upper and lower limits to 20. Then you can visually see how far away your stop will be from your entry on your chart.
If you wanted to do targets too, add this indicator again to your chart, and make it a different WIDTH, and you can visualize your stop and your target at your time of entry.
Category
NinjaTrader 7 Indicators
Details:
FP_PriceBox V1.0
Category:
NinjaTrader 7 Indicators
June 23rd, 2011
Size: 2.28 KB
Downloaded: 712 times
941
forrestang
Comments/ratings
Rayzor
June 23rd, 2011 04:15 PM
Thanks a ton! This thing will help me take the "eye-ball-it" factor out of my entries
Ganymed
August 5th, 2011 05:49 AM
A super tool for my SL and TG settings thanks a lot
Default User
October 8th, 2011 01:50 AM
No Comment
Abde
January 13th, 2012 02:48 PM
No Comment
rdtw
December 3rd, 2012 11:32 AM
No Comment
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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.