The award-winning NinjaTrader platform includes over 100 indicators as well as multiple chart types and styles to accommodate all trading styles and analysis approaches.
In our ongoing effort to provide industry leading software with user-driven features and tools, a new Trend Lines indicator was recently added to NinjaTrader 8!
What are Trend Lines?
A trend line is a line drawn on a price chart indicating the general direction within a selected timeframe. Normally trend lines are manually drawn using a line, ray or polygon drawing tool.
How Does the Trend Lines Indicator Work?
Instead of drawing trend lines manually, the Trend Lines indicator draws them automatically. This helps to save time and filter through price action to identify emerging and past trends.
When a high swing is followed by a lower swing high, a trend line high is automatically plotted. Conversely, when low swing point is followed by a higher low, a trend line low is automatically plotted. An opaque trend line is plotted for the most current trend whereas past trends are plotted with partial opacity and are less noticeable.
In the example above, the current trend is indicated by an opaque blue line and is a trend line high since it is a lower high from a previous swing high. Depending on the number of trend lines you specify, previous trends may be shown but are not as prominent.
Get the Trend Lines Indicator
Add Trend Lines to Your Chart
Using the Trend Lines indicator can be accomplished in just a few simple steps.
- Within your chart window, right click and select Indicators.
- Select Trend lines from the list in the upper left-hand section, and then click add.
- Configure any necessary parameters such as the number of lines displayed as well as the color, thickness and style of the lines.
- Once your parameters are configured click OK.
- To modify the parameters of the Trend Lines indicator, right click and select Indicators.