Price Action Pattern Indicator

By Galen Woods ‐ 3 min read

Easily spot and study five popular price patterns

This nifty Price Action Pattern Indicator for NinjaTraderâ„¢ (both NT7 and NT8) will help you find five effective price patterns featured on Trading Setups Review.

You can get it from our Ko-fi shop.

👉 Buy from our Ko-fi Shop

Features

> Five price patterns to choose from

The indicator includes five popular price action patterns we reviewed.

Click on the links below to learn more about each pattern

  1. ID/NR4
  2. Hikkake
  3. Three Bar Reversal (for Day Trading)
  4. Three-Bar Inside Bar
  5. Pin Bar

> Charts price action patterns

Marks out price action patterns with color arrows. Great for learning historical patterns and confirming price patterns in real-time.

> Scans for price action patterns

With  NinjaTraderâ„¢’s Market Analyzer, you scan for potential price action trading setups across a universe of instruments.

Extremely useful for swing traders looking for trade opportunities.

> Filters trading patterns with the trend

You can choose to use an exponential moving average to filter the signals according to the market trend.

How to Import the Indicator

  1. Click here to create a NinjaTrader account.

  2. Follow the instructions on this page to install NinjaTrader 8 Desktop.

  3. Download the indicator from our Ko-fi shop.

  4. Follow the instructions on this page to import the file PriceActionPatternsNT8.zip.

  5. Connect to a data source. You can use the in-built free end-of-day data. Learn more about it here

  6. Launch a chart and apply the indicator.

How to Setup the Indicator

The indicator will be displayed as Price Action Patterns under the list of available indicators.

Parameters

  • Select pattern - Price pattern to be displayed. Each instance of the indicator displays one price pattern. Use multiple instances for displaying multiple patterns. The price patttern will be colored in shades of gray with a printed text label.

  • EMA Period - Look-back period of exponential moving average used as a trend filter. A value of 0 will disable the trend filter.

Scanning for Price Patterns

  • To scan for price patterns, follow the instructions here to setup a Market Analyzer, making sure to display the PatternFound plot.

  • Bullish patterns will return the value of 1, and bearish patterns will return -1. (Exception: If no trend filter is set to false, all ID/NR4 patterns will return a value of 1.)

How to Really Use the Indicator

Do not trade blindly according to the price patterns marked out by this indicator. Any price pattern in isolation is unlikely to give a trading edge.

The purpose of this indicator is to highlight price patterns for your further analysis.

Have fun with the price action patterns. Please contact us if you have any feedback.

You can get it from our Ko-fi shop.

👉 Buy from our Ko-fi Shop

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