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The most-used technical indicator must be moving average. However, the trading world seems to have forgot its brother which is mathematically a better measure of central tendency: moving median.
The concept of “moving” is the same. So, what is “median”? It is the one that stands exactly at the middle of a sorted series (if a series is unsorted, we have to sort it first). If a series has an even number of elements, its median is the average of the 2 middles. For example, the median of the series “3, 8, 12, 25, 31” is 12; the median of the series “3, 8, 12, 25” is (8 + 12)/2 = 10.
Why does a median measure central tendency better than an average? Because an average is much more sensitive to outliers, which are extreme values often observed at spike bars. Moving median tends to be a smoother and more stable plot.
ninZa.co is one of the only vendors that provides an accurate and professional moving median indicator. No trading platforms offer a built-in moving median indicator, except Interactive Brokers.
- Plot moving median with configurable period and optional smoothing (9 popular moving-average types)
- Colorize plot based on slope (rise, fall, flat)
- Colorize bars optionally based on plot color or relative position of price to plot
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals NT8 only
- Can be used in Market Analyzer
- Can be used in Strategy Builder
- Can be used in BloodHound
- Can be used in 3rd-party indicators, strategies, products
- Professional & clean signature for easy calling
Dedicated NinjaScript signals:
- Signal_State: 1 = price above moving median, -1 = price below moving median
- Instruments: CFDs, forex, futures, indices, options, stocks
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: whatever
- Ready to use out of the box
- Fully configurable & customizable with ease
Please read Installation Guide for details.
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NinjaTrader 8 version:
- 27 Sep 2018 – The indicator was re-exported to be compatible with recent changes of the platform; the toolbar menu was removed.
- 28 Sep 2017 – The indicator was re-exported to be compatible with recent changes of the platform.
- 02 Sep 2016 – Setting groups were reordered; the indicator was re-exported to be compatible with recent changes of the platform.
- 02 Jul 2016 – Fractional price format was added (for ZB, ZF, ZN…).
- 29 Mar 2016 – The indicator was released (converted from its NT7 version).
NinjaTrader 7 version:
- 02 Mar 2015 – The indicator was improved so that it can be used in Market Analyzer, Strategy Wizard and can be called by other indicators, strategies.
- 10 Oct 2014 – Pro Colorizer was integrated.
- 10 Sep 2014 – The indicator was released.