This is our first release of the Ned Davis 4% indicator. Although it defaults to looking for a 4% weekly move, the indicator is generic enough to generate a colored candle based on percentage thresh hold.
You can read specifically about the Ned Davis/Zweig 4% system on our website here.. , as well as its current status.
|Up Color||The color for a move above the PctChange threshold|
|Dn Color||The color for a move below the PctChange threshold|
|MarkerEnable||Turns on or off the Diamond markers|
|PctChange||The amount the price has to move between closes to trigger a color change|
**Note to rlCandle indicator users, this indicator must be installed after the rlCandle indicator as both re-write the candle colors and the last indicator wins.
To use this indicator, install it with the NinjaTrader script import and put it on your charts. It will work with any symbol and with any time frame.
There is a Ned Davis / Zweig 4% strategy available also for premium members. You can find the strategy for test Pct move entries using any index to trade a 2nd instrument, ie, you can use pct moves to trigger in the S&P500 for a buy or exit in IBM for instance.
This indicator is free for registered users (which is also free):
This content is only available to premium members. If you would like to join and have access to all my indicators checkout the current special being offered here: <a href=”http://www.redliontrader.com/membership/”>Premium Membership </a>
To import these indicators use the import NinjaScript from the File –> Utilities menu selection:
If you are not sure how on install a custom indicator here is a short tutorial