ninZa.co is the home of professional NinjaTrader indicators, proudly supporting THOUSANDS of traders from all across the world – including professionals and hedge funds. At ninZa.co, we provide Essential + Affordable + Excellent + Elegant indicators for NinjaTrader platform.
They have anything that a trader needs to gain a competitive edge over the market: ninZaRenko, order flow, market profile, volume delta, volume, trend, reversal, sideways, price action, support/resistance, oscillator, order execution, utility… All under one roof!
Check out ninZa.co’s other premium indicators at ninza.co.
OVERVIEW
ninZaATR is ninZa.co’s special ATR formula. It’s the best smoothed NinjaTrader ATR indicator, which essentially contributes to the great success of many of our best sellers like Ruby River, Supply/Demand Discovery, Solar Wind, SuperTrend Pro…
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 formula
INSTALLATION
1. Download ninZa.co’s NT7 OR NT8 indicator (ZIP file) to your computer.
2. Go to Tools > Import > NinjaScript Add-on… at Control Center of NinjaTrader
3. Browse to and select the ZIP file you have downloaded previously.
4. Right click a chart where you want to attach the indicator to, then select Indicators (Ctrl + I).
5. Select the indicator from your indicator list. Please note that all ninZa.co’s indicators start with the “ninZa” prefix (e.g. ninZaDragonTrend, ninZaSuperiorIchimoku, ninZaMACrossover).
