MyDailyTake

Sharing indicators, strategies, tools, and lessons to help others grow in their trading journey. View Disclosures:

[MyDailyTake @mdtNotSoDaily]

Most momentum oscillators measure distance from a moving average. AlgoAlpha's measures distance from a rolling median — which one outlier bar can't drag around.

Free NinjaTrader 8 conversion.
https://t.co/M0tu2Ezu47

[MyDailyTake @mdtNotSoDaily]

Text at a fixed pixel offset looks right at one zoom level and wrong at every other one.

Using ChartControl so overlays hold up across zoom, bar spacing and panel size.
https://t.co/QDLvq4aOTW

[MyDailyTake @mdtNotSoDaily]

A volume profile rendered as a thermal heatmap on the price panel — 25 bins across the lookback range, each bar's volume distributed into them.

ChartPrime's Liquidity Flow Surge Profile, now in NT8.
https://t.co/nkARFz0DBH

[MyDailyTake @mdtNotSoDaily]

Draw.* works, but every call churns the drawing-object collection, and it shows on dense charts and long live sessions.

OnRender and SharpDX: drawing straight to the chart surface.
https://t.co/2OPetIKjXi

[MyDailyTake @mdtNotSoDaily]

QQE runs an EMA-smoothed RSI through ATR-of-RSI bands and produces a trailing line that flips on a close cross.

Mihkel00's MOD build of it, converted to NinjaTrader 8 and free.
https://t.co/iDC02OMcAQ

[MyDailyTake @mdtNotSoDaily]

Polling every bar with an if works fine until you need "the first time price touched this level" — then it fires forever.

Event detection and first-touch logic in NinjaScript.
https://t.co/9LpIIP08fz

[MyDailyTake @mdtNotSoDaily]

MFI divergences fire constantly. Most are noise, a few are pivots, and the chart won't tell you which is which.

AlgoAlpha's Money Flow Divergence Zones scores them instead. Free for NinjaTrader 8.
https://t.co/o5UhSHO2yJ

[MyDailyTake @mdtNotSoDaily]

A line says the trend is up. A background that deepens over three bars says the trend is up and strengthening.

Backgrounds are cheap to code and badly underused. Heatmaps and shading in NinjaScript.
https://t.co/T9oNv4Wz2F

[MyDailyTake @mdtNotSoDaily]

The RSI cousin of LuxAlgo's Inertial Stochastic — scan every RSI length on each closed bar and keep the one moving least.

Free NinjaTrader 8 conversion.
https://t.co/X6oZwzcIRu

[MyDailyTake @mdtNotSoDaily]

Arrows for entries, triangles for reversals, dots for bar-by-bar state. Draw.* ships enough marker types for most of it — and there's a way round it when it isn't enough.

Visual markers in NinjaScript.
https://t.co/Of3p3z2pfC

[MyDailyTake @mdtNotSoDaily]

The textbook liquidity grab: price spikes down, sweeps the stops under a recent low, snaps back. One candle, small body, long wick.

ChartPrime's Liquidity Hunter, converted to NinjaTrader 8.
https://t.co/AbXJZuNIEQ

[MyDailyTake @mdtNotSoDaily]

A line says where. A box says where and how wide. Fair value gaps, opening ranges and supply/demand zones are all the same drawing problem underneath.

Zones and boxes in NinjaScript.
https://t.co/QcwmgJMxYu

[MyDailyTake @mdtNotSoDaily]

A change of character is the cleanest tell that price has switched regimes — a new high taking out the last swing high while the trend was still down.

BigBeluga's CHOCH levels, free for NinjaTrader 8.
https://t.co/wi9BggizmQ

[MyDailyTake @mdtNotSoDaily]

Moving averages belong on price. RSI belongs in its own panel. Some indicators want both at once, and that's where people get stuck.

Plotting to different panels in NinjaScript.
https://t.co/nOafSYIoRY

[MyDailyTake @mdtNotSoDaily]

Let a market trend hard on a Renko chart and you get fifty identical bricks marching across the screen. Accurate, and unreadable.

I built one where each brick in a run is wider than the last, so the move stretches out instead.

Free for NinjaTrader 8.
https://t.co/1HiOkQg6lV

[MyDailyTake @mdtNotSoDaily]

A single-bar signal is one if block. "Setup bar, confirmation within three bars, then a trigger" turns into nested conditions nobody can debug.

Flags and a small state machine fix that.
https://t.co/XAEkivJpGo

[MyDailyTake @mdtNotSoDaily]

Pick a short stochastic lookback and it twitches. Pick a long one and it lags every turn.

LuxAlgo's Inertial Stochastic scans every length each bar and keeps the steadiest. Free NinjaTrader 8 conversion.
https://t.co/ZsjolAfBjy

[MyDailyTake @mdtNotSoDaily]

"My calculation is too jittery." You almost never need to write the smoother yourself — SMA, EMA, WMA, HMA and the rest all accept a Series as input, including one you built.

Smoothing your own data in NinjaScript.
https://t.co/n2NET4gyoO

[MyDailyTake @mdtNotSoDaily]

John Ehlers' Noise Elimination Technology sits on top of any oscillator and reports how directional its recent values really are.

alexgrover's RSI version, now native in NinjaTrader 8.
https://t.co/Ql2fVAysTN

[MyDailyTake @mdtNotSoDaily]

One SuperTrend is a single opinion. Zeiierman's SuperTrend Cluster runs five — each with its own ATR length, factor and weight — and takes the vote.

Converted to NinjaTrader 8, free.
https://t.co/UVMfFm65Lw