Here, we'll walk through how to install the Auto-signal Reversal Buy-Sell Indicator for NinjaTrader 8.
Access this indicator by signing up for Apex Evaluations through this Apex Coupon + Bonuses offer.
Auto-Signal Indicator Basics
This signal indicator uses bar measurement to provide signals, so it won't have the same issues as indicators based on moving averages and other lagging indicators.
As you can see, the indicator provides buy and sell signals in the form of green or red arrows. You can toggle long and short signals on/off, among other settings.
More on that in a minute, but first let's make sure you get it installed properly.
1) Download the zip file
Check your email for the download link labeled "AutoSignalRevBuySell.zip". Clicking the link will automatically download the file by that name.
You'll use the zip file for the installation, no need to extract the files.
2) Open NinjaTrader 8
Open NinjaTrader 8 on your trading computer and whatever workspace you prefer to use. You don't need to be connected to data for this install.
3) Import the zip file.
File import is a simple one-step process, just a few clicks:
1. Go to Ninjatrader Control Center, and click on 'Tools'
2. Click 'Import' to open the trade performance window.
3. Click 'NinjaScript Add-On'.
4. Select the zip file and click 'Open'.
5. You'll see this message, standard for installing any third-party indicator:
6. Click 'OK'.
7. Done! Next, we'll add it to the chart and adjust settings.
4) Indicator Setup
The indicator is installed but won't show up until you add it to a chart. Pick a chart to place it on, and follow these steps:
1. Right click on the chart, and on the menu that pops up, click 'Indicators...'
2. Scroll to find the 'Bus2BarSignals' indicator. Select it and hit 'add' under the 'configured' space.
3. You'll now see the Bus2BarSignals under 'Configured'.
4. Click 'Apply'.
You should now see some signals on the chart, green and red arrows, and possibly some yellow arrows.
Green arrows = buy signals
Red arrows = sell signals
Yellow arrows following a signal = invalidation of the signal
Next, we'll adjust one of the settings. As you can see, with the default settings on a five-minute chart, it can be a little noisy at times (multiple signals in short succession, a couple invalidations).
5. To reduce signal noise, either:
a) Increase 'Trending Bars'; or
b) Decrease 'Top Percent'
In this case, we'll only change 'Top Percent', reducing it from 20 to 10.
As you can see, this reduced the noise to an effective level.
Depending on what time interval you use, on what instrument, you should play with either or both of these numbers until you see a signal frequency you like.
A couple tips:
- 'Trending Bars' shouldn't go lower than 2. Raising it to 3, 4, or 5 will greatly reduce signal frequency. You can try going beyond that, but I've never seen that be necessary.
- 'Top Percent' will usually be most effective between 5 and 15. I wouldn't change it above 50.
Disclaimer: As with any setup or signal, it's not perfect. Results shown here are just examples, and results aren't typical. Performance isn't guaranteed.