Find Trade Setups Faster Using Automated Technical Analysis

Analyzing multiple markets in search of trading opportunities can be a tedious, time consuming process. Leveraging automated trading tools can help traders save time, increase efficiency and identify potential trade setups.

Scan Multiple Futures Contracts with Market Analyzer

NinjaTrader’s Market Analyzer helps traders automate their technical analysis by ‘scanning’ multiple futures contracts for potential trade setups.

The Market Analyzer provides real-time market scanning of multiple instruments based on your own custom criteria. You can use the Market Analyzer to display indicator, market and trade data in a highly customizable manner. To open the Market Analyzer in NinjaTrader, follow the steps below:

  1. From within the Control Center window, click ‘New’ and select ‘Market Analyzer’
  2. Right click the Market Analyzer window and select ‘Add Instrument(s)’
  3. Select the futures contracts you would like to analyze

The graphic below displays a number of futures contracts selected in the default Market Analyzer window:

NinjaTrader Market Analyzer

Customizing the Market Analyzer

The Market Analyzer allows traders to add a variety of custom columns ranging from day trading indicators to position information. Adding the ideal datasets to your Market Analyzer can help streamline identifying potential trade setups.

The below image showcases the Market Analyzer with the RSI Indicator included as a column. Leveraging the ‘Cell Conditions’ feature allows traders to define the display behavior of a cell based on the cell’s value. You can choose to alter both the color and text of a cell. The Cell Conditions in the below example will display the RSI indicator value in red when its below 50 & green when it’s above 50.

Market Scanner

Set Alerts for Potential Trade Setups

The Market Analyzer can alert a trader once all preprogrammed market conditions are met. For example, technical indicator levels like the RSI, contract volume and price action are all types of tools useful for identifying the optimal market environment to enter a trade and viewable from your trading platform.

To Set Alerts:

  1. Right click from within the Market Analyzer window
  2. Select ‘Alerts’

What Can an Alert do?

When an alert condition is triggered, you can define exactly how the alert behaves allowing you to:

  • Display a custom message on the Alerts Log
  • Play a sound
  • Share the content via Email, Facebook, StockTwits or Twitter
  • Display a popup dialog with a custom message
  • Submit a custom order

Apply Alert Conditions to a Trade

Setting alert conditions can potentially allow for greater efficiency in making trade decisions. For example, if basing a trade on the value of the RSI indicator, the trader can be alerted when the user defined condition has been met.

Below is a graphic of the alerts window with the RSI cell conditions configured as an alert to play a sound and trigger a message:

Trading Alerts

Watch this quick video for a brief overview of Market Analyzer:

As always, remember past performance is not indicative of future results and you should always trade within your risk tolerance levels.

As an award-wining futures broker, NinjaTrader provides deep discount commissions and unmatched support. Download NinjaTrader free today and start setting up conditional alerts to identify potential trades!