Oscillators Rest to Zero at Session Start

[aligator]

Dear Support,

Looking for a reference or a sample script to have an oscillator (i.e, %Change, RSI, etc.) reset to Zero at the start of a session or a certain user-defined time.

This was a feature request that has been tracked since 2013.

Many Thanks.

[NinjaTrader_AlanP]

Hello aligator,

Thank you for your note.

The following reference sample demonstrates how to reset variable at the start of a session, using

if (Bars.IsFirstBarOfSession && IsFirstTickOfBar)

https://ninjatrader.com/support/forum/showthread.php?t=19182

If you were to replace the above line with,

if(ToTime(Time[0]) >= 93000 && ToTime(Time[0]) < 93100)

Then the variables will be reset at 930.

Regarding a reference sample which would reset the oscillator to zero at the start of the session, I’m not sure I understand how this could be achieved given something like the RSI has two periods, ex 3 and 14, so it would need at least 14 bars of data to calculate. If you only wanted to use today's data, RSI output would not be available till the 14th bar. Perhaps you could provide more information on what you’re looking for and how you would like to deal with an indicator needing previous data.

Please let us know if you need further assistance.

[aligator]

Hello aligator,

Thank you for your note.

The following reference sample demonstrates how to reset variable at the start of a session, using

if (Bars.IsFirstBarOfSession && IsFirstTickOfBar)

https://ninjatrader.com/support/forum/showthread.php?t=19182

If you were to replace the above line with,

if(ToTime(Time[0]) >= 93000 && ToTime(Time[0]) < 93100)

Then the variables will be reset at 930.

Regarding a reference sample which would reset the oscillator to zero at the start of the session, I’m not sure I understand how this could be achieved given something like the RSI has two periods, ex 3 and 14, so it would need at least 14 bars of data to calculate. If you only wanted to use today's data, RSI output would not be available till the 14th bar. Perhaps you could provide more information on what you’re looking for and how you would like to deal with an indicator needing previous data.

Please let us know if you need further assistance.

Thank you for responding Alan,

The idea is to be able to compare performance of two or more instruments from a set time, let's say from the beginning of session at 9:30 AM to 16:00. Similar to RadarScreen indicator by Trade Station.

In the case of RSI, that ranges from 0-100, it will be re-set to 50 (mid-line) at 9:30 and progressing from that point to the end of session. A comparison of the RSI for two or more instruments will indicate which instruments leads or lags in strength during the session.

Same idea can also be applied to total change in price starting from 0% at 9:30 for comparing two or more instruments, comparing their accumulated % price change at any time during the session.

Many thanks.

[NinjaTrader_AlanP]

Hello alligator,

A percent change from the start of the day would be a different situation, as you only need the start price and the last price for any calculation. The RSI indicator takes 14 periods of input to produce an output. From a math perspective, I’m not sure how the RSI indicator could be re-set at 50 each day. On the bar after the opening bar for the day, the RSI output is going to be calculated off 1 bar today, and 13 on the previous day.

The solution to what it sounds like you’re looking to do, would be to have another indicator reference the change (point change or % change) in the RSI indicator from 930 throughout the day. Or you would have to write your own indicator which only uses today’s data for calculation, but this would be a custom script rather than a feature request for oscillators.

Please let us know if you need further assistance.

[aligator]

Hello alligator,

A percent change from the start of the day would be a different situation, as you only need the start price and the last price for any calculation. The RSI indicator takes 14 periods of input to produce an output. From a math perspective, I’m not sure how the RSI indicator could be re-set at 50 each day. On the bar after the opening bar for the day, the RSI output is going to be calculated off 1 bar today, and 13 on the previous day.

The solution to what it sounds like you’re looking to do, would be to have another indicator reference the change (point change or % change) in the RSI indicator from 930 throughout the day. Or you would have to write your own indicator which only uses today’s data for calculation, but this would be a custom script rather than a feature request for oscillators.

Please let us know if you need further assistance.

Thanks Alan,

So, perhaps the solution for RSI, as you suggested, is to create a %Price Change indicator (not the same as PPO) and set to 0 at the session open and use the RSI value as Input.

Thanks.