Best Free NinjaTrader Indicators That You Should Always Keep

When you search for the best free NinjaTrader indicators, you often come across a long list of suggestions and options to choose from. While many of these indicators serve you well, the question remains: which ones should you always keep in your trading arsenal? In live trading, it’s crucial to use the right tools to get the precise information for an informed decision. However, trying out all the relevant indicators at your disposal, can become overwhelming, leading to confusion, conflicting signals, and ultimately poor trading decisions. If you’re a beginner or an experienced trader, selecting the right tools for your strategy plays a vital role behind a good move. 

In this post, we’ll explore the top free NinjaTrader indicators you should always keep, that can help streamline your trading process. By focusing on the most effective indicators, you can make quicker, smarter, and better data-driven decisions that improve your trading efficiency. So, let’s dive in! 

What Are NinjaTrader Indicators? 

NinjaTrader indicators are tools that traders use to analyse price data, trends, and market volume on the NinjaTrader platform. These indicators help traders make informed decisions by providing valuable insights into market conditions. Simply put, an indicator is a mathematical calculation based on price, volume, or open interest. When applied to a chart, they visually highlight trends, momentum, volatility, and potential reversal points. 

Why Indicators Matter 

Indicators are essential because they assist traders in making well-informed decisions. Here’s why they matter: 

• Trend Analysis: Indicators help identify whether the market is trending or in a range-bound state, providing clarity on when to enter or exit trades. 
• Signal Clarity: They remove the noise from raw price data and offer more structured signals. 
• Market Momentum: Some indicators measure momentum, helping you identify whether a trend is likely to continue or reverse. 
• Risk Management: By using indicators, traders can set more precise stop-loss and take-profit levels, reducing potential losses. 

How NinjaTrader Indicators Differ 

NinjaTrader indicators stand out in several ways when compared to platforms like MetaTrader or TradingView: 

• Customisation: NinjaTrader allows traders to deeply customise indicators to suit their unique strategies, offering a level of flexibility that can’t always be matched by other platforms. 
• Advanced charting: The platform offers advanced charting features, including market depth indicators and volume profile analysis, which are particularly useful for active traders. 
• Data-driven decisions: NinjaTrader provides robust backtesting capabilities, so you can test your indicators on historical data before applying them to live trades, a feature that’s often more refined than in other platforms. 

Top Free NinjaTrader Indicators You Should Know About 

1. Volume Profile Indicator 

Volume Profile is an indicator that displays trading volume at various price levels over a specified time period. It highlights where the most significant volume occurred, showing potential support and resistance areas. This helps traders identify zones where price might struggle to break through. 

Best use cases: 

• Ideal for both intraday and swing traders who need to identify critical price levels. 
• Perfect for identifying key support and resistance zones, as well as areas of high buying and selling interest. 

Advantages and limitations: 

• Advantage: Offers clear insights into where market participants are most active. 
• Limitation: Less effective in volatile or fast-moving markets where price action is unpredictable. 

2. SuperTrend Indicator 

SuperTrend is a trend-following indicator that uses the Average True Range (ATR) to calculate and display a line above or below the price. When the price is above the line, it indicates an uptrend, and when it’s below, it signals a downtrend. 

Best use cases: 

• Trend-following traders can use this indicator to identify clear trends and potential reversals. 
• Best used in strong trending markets, where it helps to capture price movements over time. 

Advantages and limitations: 

• Advantage: Simple and easy to understand. Provides clear buy and sell signals. 
• Limitation: It can lag during sideways markets, giving false signals when there is no clear trend. 

3. MACD Divergence 

The MACD Divergence is a variation of the traditional MACD indicator, focusing on the divergence between the MACD line and price action. When price moves in one direction while the MACD shows a different signal, it hints at potential momentum shifts. 

Best use cases: 

Great for spotting momentum shifts and trend reversals. 

• Ideal for traders who want to enter or exit trades before major market moves. 

Advantages and limitations: 

• Advantage: Helps anticipate market reversals before they happen. 
• Limitation: It can be less reliable in trending markets and often gives false signals during consolidating price action. 

4. VWAP (Volume Weighted Average Price) 

VWAP calculates the average price of a security weighted by its trading volume. It’s used mainly to show the average price at which an asset has traded throughout the day, which is valuable for intraday analysis. 

Best use cases: 

• Short-term traders looking for an intraday trend analysis. 
• Great for spotting entry points when the price is near the VWAP level. 

Advantages and limitations: 

• Advantage: Helps traders determine fair value for a stock during the trading day. 
• Limitation: Not effective for long-term trading strategies, as it focuses on intraday movements. 

5. RSI Divergence 

RSI Divergence compares the Relative Strength Index (RSI) with price action. When the price makes new highs or lows but the RSI does not, it signals a potential reversal. 

Best use cases: 

• Excellent for spotting reversal points in both trending and range-bound markets. 
• Especially useful when combined with other trend-following indicators. 

Advantages and limitations: 

• Advantage: Helps identify potential turning points in the market. 
• Limitation: The RSI can be false in strong trends, especially if the market is extremely overbought or oversold. 

6. EMA Crossover 

EMA Crossover is a strategy that involves two Exponential Moving Averages (EMAs). The shorter EMA (e.g., 9-period) crosses above the longer EMA (e.g., 21-period) to signal a buying opportunity, and when it crosses below, it signals a sell. 

Best use cases: 

• Ideal for identifying the beginning of new trends. 
• Works well in both short-term and long-term trading. 

Advantages and limitations: 

• Advantage: Provides clear entry and exit points based on market trends. 
• Limitation: Can give false signals during periods of sideways or choppy market conditions. 

7. Zone Drawing Indicator 

The Zone Drawing Indicator by Rize Capital is a free tool for NinjaTrader 8.0.x.x and 8.1.x.x platforms that allows users to manually draw Demand/Supply or Support/Resistance zones. Green zones are drawn below and Red zones above the current market price. Higher timeframe (TF) zones appear with dotted borders on lower TF charts, and a zone changes color when first touched by price. Zones stop plotting after the price passes through but remain visible on the original TF. 

Best use cases: 

• Ideal for manually marking key support and resistance zones. 
• Useful for multi-timeframe trading by keeping higher TF zones visible on lower TF charts. 

Advantages and limitations: 

• Advantage: Provides a clear and customizable visual representation of key price zones, enhances manual trading strategies, and improves decision-making by tracking touched and untouched zones. 
• Limitation: Limited to certain chart timeframes (15 min, 60 min, 240 min, daily, weekly, monthly, quarterly) in the free version; additional features require a subscription. 

8. Multi Time Frame Trend Line Indicator 

The Multi Time Frame Trend Line Indicator by Rize Capital allows traders to draw and view trend lines from multiple timeframes on the same chart without changing the TF. Each trend line is labeled with its originating timeframe and price. An EMA line is plotted to show trend direction. When an uptrend or downtrend line breaks, it stops plotting and displays an arrow at the break point. Higher TF trend lines appear on lower TF charts, but not vice versa. 

Best use cases: 

• Ideal for multi-timeframe trend analysis without switching between charts. 
• Helpful for tracking major trend breaks across key timeframes like 15 min, hourly, daily, and weekly. 

Advantages and limitations: 

• Advantage: Simplifies market structure analysis across timeframes and highlights trend reversals with visual alerts. 
• Limitation: Limited customization in the free version compared to the premium version; only broken lines of matching TFs are recognized. 

9. Stochastic Oscillator 

The Stochastic Oscillator compares the closing price of an asset to its price range over a specific period. The indicator ranges from 0 to 100, and readings above 80 indicate an overbought condition, while readings below 20 indicate an oversold condition. It consists of two lines: %K and %D, where crossovers can signal potential buy or sell opportunities. 

Best use cases: 

• Ideal for identifying overbought and oversold conditions. 
• Works well in range-bound markets where price tends to move between support and resistance levels. 

Advantages and limitations: 

• Advantage: Effective in spotting short-term reversals in price, especially in ranging markets. 
• Limitation: Can provide false signals in trending markets, as it may indicate overbought or oversold conditions even when the trend is strong. 

10. ADX (Average Directional Index) 

The Average Directional Index (ADX) measures the strength of a trend, ranging from 0 to 100. A reading above 25 indicates a strong trend, while a reading below 20 suggests a weak or no trend. ADX is often used with the Positive directional indicator (DMI+) and Negative directional indicator (DMI-) lines to indicate the direction of the trend. 

Best use cases: 

• Best used in trending markets to assess the strength of the trend. 
• Helps traders avoid range-bound markets where trends are weak or non-existent. 

Advantages and limitations: 

• Advantage: Helps identify strong trends and avoid market conditions with weak price movement. 
• Limitation: Does not indicate the direction of the trend, only the strength, requiring additional indicators for directional confirmation. 

11. Pivot Points Indicator 

The Pivot Points Indicator calculates key price levels based on the previous period’s high, low, and close to identify potential support and resistance levels. It automatically plots the main Pivot Point (P) along with multiple support (S1, S2, S3) and resistance (R1, R2, R3) levels on the chart. These levels act as potential turning points where the price may reverse or experience a breakout. 

Best use cases: 

• Ideal for intraday and short-term traders to quickly identify important price zones. 
• Effective for planning entry, exit, and stop-loss points based on historical price action. 

Advantages and limitations: 

• Advantage: Provides a simple, automatic, and widely accepted method to predict market turning points. 
• Limitation: Less reliable in highly volatile or trending markets where price may ignore pivot levels. 

12. Parabolic SAR 

The Parabolic SAR (Stop and Reverse) is a trend-following indicator that places dots above or below the price chart. When the dots are below the price, it signals an uptrend, and when above the price, it signals a downtrend. The indicator tracks price movement, with the dots moving closer as the trend continues. 

Best use cases: 

• Perfect for trend-following traders looking to spot potential trend reversals. 
• Can be used for setting stop-loss levels to trail behind the price during a trend. 

Advantages and limitations: 

• Advantage: Provides clear signals when the trend is changing, helping traders identify potential entry and exit points. 
• Limitation: Can produce false signals during choppy or sideways markets where trends are weak. 

So, if you're following a trend, looking for reversals, or analysing volume at price levels, these indicators can help improve your decision-making process. 

Tip: Experiment with these indicators on your demo account to find the best combination for your trading style. Start simple, combine a few tools, and refine your strategy as you gain more experience. Check out more discussions on various strategies and indicators. 

Key Considerations When Choosing NinjaTrader Indicators 

1. Personal Trading Style 

Your trading style plays a huge role in selecting the right NinjaTrader indicators. Different strategies require different tools. Here’s a quick overview: 

• Day Trading: If you’re a day trader, you need indicators that help spot short-term trends and quick entry/exit points. Popular indicators for day traders include Moving Averages, RSI, and Bollinger Bands, as they help track fast market movements. 
• Scalping: Scalpers rely on indicators that can capture rapid price movements. Volume Profile and MACD (Moving Average Convergence Divergence) are great for scalping, as they can identify momentum and market strength in short time frames. 
• Swing Trading: Swing traders benefit from indicators that highlight medium-term trends. Tools like the SuperTrend Indicator and ADX (Average Directional Index) help identify market strength over a few days or weeks. 

2. Market Conditions 

Understanding market conditions is essential for choosing the right indicators. Here’s how to pick indicators for different market environments: 

• Trending Markets: In a trending market, you want indicators that can confirm the direction of the trend and help you ride it. Moving Averages, ADX (Average Directional Index), and Parabolic SAR (Stop and Reverse) are ideal for this, as they help identify whether the market is moving strongly in one direction. 
• Range-Bound Markets: In a ranging or sideways market, indicators that help identify support and resistance levels are key. RSI, Stochastic Oscillator, and Pivot Points can help pinpoint where the price might reverse within the range. 

3. Customisation and Flexibility 

One of the greatest advantages of NinjaTrader is the ability to customise indicators. Tailoring indicators to fit your unique strategy is important for trading success. NinjaTrader offers: 

• Adjustable Settings: Modify parameters like period length or overbought/oversold levels to fit your trading needs. 
• Combining Indicators: Use multiple indicators together to create a strategy that suits your style. For instance, you can combine RSI with Moving Averages to spot trend reversals more effectively. 

Next, we’ll explore ways to set up and integrate indicators to enhance your strategy. Stay tuned! 

How to Set Up and Integrate These Indicators on NinjaTrader 

Setting up and configuring your indicators on NinjaTrader is simple. Follow these steps to get started: 

1. Open NinjaTrader: Launch the NinjaTrader platform and open a new chart. 
2. Access the indicator list: Right-click on the chart, and a menu will appear. Select “Indicators” to open the indicator window. 
3. Choose your indicator: In the window, scroll through the list of available indicators. Select the one you want to add (e.g., Volume Profile, SuperTrend, or RSI). 
4. Configure the settings: Once you select an indicator, a settings panel will appear. Here, you can adjust parameters such as period length, ATR multiplier, or others depending on the indicator. These settings influence how sensitive or smooth the indicator will be. 
5. Apply the indicator: After configuring the settings to your liking, click “OK” to apply the indicator to your chart. You can add more indicators in the same way, and they will appear on your chart. 

Integration with Other Indicators 

To make your trading strategy even more powerful, you can combine multiple indicators for a more robust approach. Here’s how to integrate them (some of them are discussed here): 

1. RSI + SuperTrend: Combine the RSI with SuperTrend for a comprehensive strategy. Use RSI to identify overbought or oversold conditions. When the SuperTrend confirms a trend (e.g., price above SuperTrend in an uptrend), you can take action based on the RSI signals. 
2. MACD + EMA: The MACD can signal momentum shifts, while the EMA crossover helps confirm the direction of the trend. When the MACD shows divergence or convergence and the EMA crosses in the same direction, you get a powerful confirmation for your trade. 
3. Volume Profile + VWAP: Combining these two indicators can help pinpoint key price levels (support/resistance) while using VWAP for intraday trend analysis, making it easier to find high-probability trade setups. 
4. ADX + EMA Crossover: Combine ADX with EMA Crossover to enhance trend confirmation. Use ADX to determine the strength of the trend (above 25 for a strong trend), and when the EMA Crossover confirms the direction (e.g., 9-period EMA crossing above the 21-period EMA in an uptrend), you can enter trades with greater confidence. 
5. Parabolic SAR + MACD Divergence: Integrate Parabolic SAR with MACD Divergence for a more reliable trend reversal strategy. Use Parabolic SAR to spot potential trend changes with its dots shifting above or below the price. When MACD Divergence shows momentum weakening (e.g., price making new highs but MACD not following), it can serve as an additional confirmation for a reversal. 
6. RSI + Stochastic Oscillator: Combine RSI with the Stochastic Oscillator to improve reversal signals. Use RSI to identify overbought (above 70) or oversold (below 30) conditions. Confirm these signals with the Stochastic Oscillator, which shows the momentum and potential turning points when its lines cross in the overbought or oversold zone. 
7. MACD Divergence + VWAP: Combine MACD Divergence with VWAP for intraday trend analysis. Use MACD Divergence to spot momentum shifts, and when VWAP indicates that the price is above (bullish) or below (bearish) the average price for the day, it confirms the direction of the market. This strategy helps you trade with the intraday trend. 
8. EMA Crossover + SuperTrend: Combine EMA Crossover with SuperTrend to confirm trends and entry points. Use the EMA Crossover for identifying when the trend changes direction (e.g., a 9-period EMA crossing above a 21-period EMA) and confirm the trend with SuperTrend. When the price is above the SuperTrend line, it confirms a strong uptrend. 

Tip: When combining indicators, make sure they provide complementary information. Too many indicators that give the same data can clutter your chart and create confusion. 

Optimising Your Strategy 

To get the best out of your indicators, follow these optimisation tips: 

• Adjust for market conditions: If the market is volatile, reduce the periods of your indicators (e.g., shorter EMA periods) to capture more sensitive signals. In quieter markets, lengthen the periods to smooth out the signals. 
• Backtest your strategy: Before using any strategy in live trading, backtest it on historical data. This helps you see how your strategy performs under different market conditions and adjust accordingly. 
• Customise the appearance: Adjust the colour, style, and thickness of your indicators for clarity. This ensures that they’re easy to read and doesn’t overwhelm your chart with too many colours. 

Now that you know how to set up and optimise your indicators, let’s take a look at common mistakes to avoid while using the indicators. 

Common Mistakes to Avoid with NinjaTrader Indicators 

1. Overloading on Indicators 

One of the most common mistakes traders make is using too many indicators on their charts. Why it happens? Traders sometimes believe that using several indicators will give them more reliable signals. The problem: Too many indicators can create conflicting signals. For example, one might indicate a buying opportunity, while another suggesting selling. This confusion makes it harder to make clear decisions. 

Tip: Focus on a few key indicators that complement each other. For instance, combine RSI (to spot overbought or oversold conditions) with SuperTrend (to confirm the trend direction). This combination offers a more reliable strategy than using multiple indicators that give similar data. 

2. Not Backtesting Indicators 

Another mistake is jumping into live trading without backtesting your indicators first. Why it happens? Traders get excited to use new tools and want to see immediate results. The problem: Without backtesting, you can't be sure how the indicator will perform in real market conditions. Relying on untested indicators can lead to poor trading decisions and unexpected losses. 

Tip: Always backtest your indicators using historical data to see how they would have performed in the past. This helps you understand their strengths and weaknesses, so you can refine your strategy before risking real money. 

3. Ignoring Market Conditions 

Using indicators without considering market conditions can lead to poor outcomes. Why it happens? Traders sometimes follow signals blindly without considering whether the market is trending or consolidating. The problem: Some indicators work well in trending markets but fail in sideways (range-bound) markets. For instance, trend-following indicators like SuperTrend may give false signals when the market is not trending. 

Tip: Always assess the market condition before relying on indicators. Use trend indicators like EMA in trending markets, and oscillators like RSI in range-bound markets. 

Advanced Tips for Getting the Most Out of Free NinjaTrader Indicators 

1. Optimising Indicator Settings 

To get the most out of your NinjaTrader indicators, you need to optimise their settings. This helps align the indicator’s behaviour with your trading strategy and market conditions. 

• Fine-Tune Based on Historical Data: Test your indicators using historical data to find the best settings for your style. For example, use shorter periods for indicators like RSI or EMA if you're trading volatile assets to capture quicker movements. 
• Customise Based on Your Trading Style: A swing trader for example, might prefer slower indicators to capture longer-term trends, while a day trader might need faster signals for quick entries and exits. Adjust the parameters accordingly to fit your trading style. 

2. Using Multiple Timeframes 

Using indicators across multiple timeframes enhances your ability to read the market accurately. Here’s how it can strengthen your strategy: 

• Broader Perspective: When you only look at one timeframe, you might miss out on larger market trends. For example, a buy signal on a 5-minute chart might be unreliable if the 1-hour or daily chart is showing a downtrend. 
• Confirm Your Signals: By using a higher timeframe for the overall trend (e.g., 1-hour or daily) and a lower timeframe for entry (e.g., 5-minute or 15-minute), you can confirm your trades. This way, you ensure your signals are aligned across timeframes, improving reliability. 

Tip: Start with a larger timeframe to identify the overall trend. Then, use a smaller timeframe to fine-tune your entries. This technique provides better clarity and more reliable trade setups. 

3. Combining Indicators with Price Action 

While indicators are powerful, combining them with price action analysis can give you a deeper understanding of market conditions and increase the accuracy of your signals. 

• Price Action Basics: Price action involves analysing raw price movements and patterns on the chart, such as candlestick formations or breakout patterns. These signals, when used with indicators, give a more comprehensive view of market conditions. 
• How to Combine: Use a trend-following indicator like SuperTrend to identify the overall trend, then look for price action patterns like pin bars or engulfing candles near key support or resistance levels to confirm entry signals. 

Tip: Don’t rely solely on indicators. Use them as a confirmation tool for price action setups. Combining both methods creates a more robust strategy and improves the likelihood of successful trades. 

Overcoming Common Stuggles with NinjaTrader Indicators 

1. Simplifying Indicator Choices 

For beginners, choosing the right NinjaTrader indicators can be overwhelming. There are so many options, but not all are necessary for every strategy. Here’s a simple framework to help you make better choices: 

• Step 1: Define Your Goal: Are you looking for trend-following indicators or reversal signals? For trend-following, use indicators like SuperTrend or EMA Crossover. For reversals, try RSI Divergence or MACD. 
• Step 2: Choose Complementary Indicators: Avoid using indicators that give the same type of data. For example, combining RSI with MACD is great, as they focus on momentum and market conditions, while Volume Profile adds insights into support and resistance levels. 
• Step 3: Start Simple: Begin with one or two indicators and expand as you get more comfortable. Overloading on indicators can lead to confusion and conflicting signals. 

2. Addressing Setup Confusion 

Setting up indicators on NinjaTrader can sometimes be tricky. Here’s a troubleshooting guide for common issues: 

• Problem 1: Indicator not appearing on the chart: Ensure you’ve applied the indicator correctly. Right-click on your chart, select “Indicators,” then make sure you’ve clicked “OK” after setting up. 
• Problem 2: Indicator settings seem off: If the indicator isn’t behaving as expected, adjust the settings based on the market conditions. For example, use shorter periods for volatile markets or longer periods in stable conditions. 
• Problem 3: Conflicting signals: If you see conflicting signals, try removing unnecessary indicators. Focus on the ones that align with your strategy, and remember, less is more. 

3. Staying Consistent 

Consistency is key when using NinjaTrader indicators. It’s easy to get caught up in tweaking and optimising your indicators, but this can lead to overfitting your strategy. 

• Stick to a Plan: Once you’ve tested your strategy, follow it consistently. Don’t change your indicators too often. 
• Avoid Over-Optimisation: Constantly adjusting indicator settings based on recent market data can make your strategy too tailored to past conditions. Stick to what works for you over time. 

Final Thoughts 

So, we’ve explored some of the best free NinjaTrader indicators that can help you make more informed and confident trading decisions. This post has aimed to provide actionable guidance on how to integrate and customise these indicators effectively. We’ve addressed common pitfalls and offered tips to optimise your strategy for better results. 

Next Step: Now that you’re familiar with these indicators, it’s time to put them into practice. Start by using one or two of these free NinjaTrader indicators in a demo account. Test their effectiveness and see how they align with your trading style. With hands-on experience, you’ll gain the confidence to apply them in live trades. Also check out free premium NinjaTrader indicators to enhance your trading knowledge.