There is basically no cost to adapt the indicators to work with an input series. The modifcation needed to the code can be implemented in a few hours for all 15 or 20 something indicators concerned. Furthermore there is no downside if you allow that Stochastics or the CCI maybe applied to indicators as input series.
Example:
The Stochastic RSI is a default indicator. This indicator was created by applying the Stochastics to the RSI. Basically what you do is to apply one oscillator to another oscillator.
Let us assume that we want to build a Stochastic CCI. With NinjaTrader 7 you would simply apply the Stochastics to the input series CCI, and there you go. With NinjaTrader 8 this is currently impossible. When you apply the Stochastics to any input series other than price, it returns the Stochastics - from price! This is useless. You would expect that the Stochastics is being calculated from the CCI and not from price. There is not a single argument for the current sitaution, where the indicator always returns price.
Look at your oscillators. Please explain, why you decided that
* Forecast Oscillator, Momentum, MACD, ROC, RSI & WilliamsR maybe applied to an indicator as input series, while
* Aroon oscilator, CCI, Chaikin Oscillator, Double Stochastics, Stochastics,RVI and Ultimate Oscillator may not be calculated from any input series other than price
It seems that some oscillators are more equal than others .....
Indicator Categories:
There are basically 3 indicator categories:
CAT 1: indicators that already may use an indicator as input series
CAT 2: indicators that are affected by the change in the architecture and that should be adopted to using an indicator as input series
CAT 3: indicators that require price or volume data as input
Actually there are only few indicators that belong to the third category. The only ones that I have found amongst the NinjaTrader default indicators are
- CurrentDayOHL
- Darvas
- Keltner (without option to use ATR)
- PriorDayOHLC
- Range
- VOL
- VOLMA
- VolumeCounter
- Volume Oscillator
- Volume UpDown
- Volume Profile
- VolumeZones
All other indicators should work with an indicator as input series.
Just go for it. It is easy to implement.
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