[Free] ninZaATR

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Description

Only ninZaFamily members have access to
DOWNLOAD ZONE to get this freebie [contact]

Platform

Availability for:

  • NinjaTrader 7 platform: NOT PLANNED
  • NinjaTrader 8 platform: AVAILABLE NOW

Overview

Regular ATR takes into account previous bar’s close. This is okay on daily, weekly, monthly charts but a big issue on intraday charts (minute, tick, ninZaRenko…). Why? Because day-to-day gaps can be considerable, big, or huge – and then they scale up ATR abnormally and unreasonably!

That’s why in our ninZaATR, the first thing we changed is to eliminate previous bar’s close, and therefore remove gaps from ATR calculations. We only take into account bar ranges (bar low to bar high).

Next, we smoothed ATR to help ATR change much more slowly. As you know, ATR is a standard unit to measure distances on charts. One ATR is completely similar to a one-meter ruler. If its value changes quickly, our measurements become less accurate, less reliable. Imagine, how can we correctly measure things if our one-meter ruler is 3 feet in the morning but in the afternoon, the one-meter ruler collapses to only 2 feet? This is exactly what happens to regular ATR!

We solved this problem sweetly by smoothing ATR with 2 layers.
The first layer uses SMA, and the second layer uses ninZa.co’s special formula.

Finally, we derived ninZaATR: a smoothed ATR version that is very stable and immune to gaps.
It helps improve indicator performance significantly on intraday charts.

Now important: how to use ninZaATR? ninZaATR can be called from codes easily:

double atr = ninZaATR(Period)[0];

Recommended values for Period should be from 50 to 100.

We hope that ninZaATR can help improve your indicators or open-source indicators. You just need to replace the regular ATR with ninZaATR, using the statement mentioned above.

Key features

  • Eliminate gaps, especially day-to-day gaps
  • Smooth ATR with layer #1, using SMA
  • Smooth ATR with layer #2, using ninZa.co’s special formular

Media

Installation

Please read Installation Guide for details.

Download

Please hit the nice button below to go to a special page where you can download this freebie instantly. You will also have the download access to ALL of ninZa.co's freebies ($1000+ value).

If you have any questions, do not hesitate to contact us. Thank you!

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