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Trend Change Indicator - Premium Indicator
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Indicator Details:
Trend Change Indicator is developed by Rize Capital to use on NinjaTrader 8 trading platform. This indicator is used to plot significant trend changes before they actually take place. This indicator is developed with an intention to produce quality trend change signals with more accuracy. Thus you will see less number of signals on the chart which will provide you option to take longer term trades with huge Risk-Reward ratio. Those who has small account, this indicator can be the answer to your question of how to grow account with small capital.
As shown with green and red arrows in Image -1, it will plot ‘MB’ to indicate potential market direction change to up trend and ‘MT’ to indicate potential change in current market trend to down trend. Now you can also manage your entries / exits with these plots or you can manage your exits as per your risk management strategy.
This indicator needs minimum 30 days data on the chart, otherwise you will get a reminder text like the one shown in Image – 2 so that you can load more data. This indicator works on any market, any instrument. But it only works with intra-day and daily time frame charts. If your chart is not with correct time frame, it will show you a reminder text as shown in Image -3 so that you can change chart time frame as necessary.
Now you can customize some parameter values marked by white rectangle in Image – 4 . Here you can customize Period, Smooth and Scanning period for your test to find your right settings. If you would like to change the text plots on the chart, you can do that from the settings options marked within lime green rectangle in Image – 5. But it is recommended not to make any changes to the default settings, marked by red rectangle in Image – 6.
If you still have got further query, please do watch the video tutorial above on how this indicator and settings works.
Upgrade Notes:
Version: 5.2.0.1
- This can be used on any instrument
- Minimum data loaded on chart checks added
- Indicator folder location updated
- Script optimized
- Auto update and announcement added
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