Based on the popular 3-bar reversal pattern for day trading suggested by TradingSim, ninZa.co developed Trio Reversal for NinjaTrader 8 with the addition of bar-size control options, signal markers, alerts and graphical highlights.
The Strict mode of Trio Reversal lets you decide how this pattern is defined:
- Strict mode enabled: It is required that the signal bar's close must exceed the previous bars' extremes (high for bullish trio, low for bearish trio).
- Strict mode disabled: The signal bar's high is required to be higher than previous bars' high as for bullish trio, and the signal bar's low is required to be lower than previous bars' low as for bearish trio.
You can use Trio Reversal to trade either pullbacks or trend reversals. However, please keep in mind that trio reversal patterns alone are not trading signals. You will need to analyze trio reversals in their contexts. Please consider other factors like market condition (trending or choppy) and support/resistance.
Key features:
- Identify trio reversals based on the Strict mode you select
- Allow specifying the minimum size of signal bar based on ninZaATR
- Allow specifying the minimum size of center bar based on ninZaATR
- Paint signal bars based on their states: bullish or bearish
- Trigger alerts on trio detected
- Print markers on trio detected
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_State: 1 = bullish, -1 = bearish, 0 = no signal
Bonus
Upon purchasing this indicator, you will receive 2 FREE sounds that read “trio reversal” in male and female voices for alerts. FYI, these sounds are created with our Alert Sound Maker.
- 08 Jun 2021 - Massive changes, fixes and improvements were made (DPI, display name, Z order, alert properties, marker string, bar painting, chart info, property naming/positioning/grouping); regular ATR was replaced with ninZaATR for better performance; alert popup was visually enhanced.
- 09 Mar 2020 - The indicator was released (built new).
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