Introduction
The Dynamic Price Pivots indicator has been designed and developed to help you take advantage of leading price action in several different ways. We call it dynamic because that’s what it is, dynamically signaling changes in sentiment at the live edge of the market using a three-candle pattern. If the centre candle has lower highs and lower lows than the candles on either side, then a pivot low is triggered, and conversely, if the centre candle has higher highs and higher lows, then a pivot high is formed. The indicator is triggered on the close of the candle.
The Dynamic Price Pivots indicator can be used in several different ways, which is why we refer to it as the ‘Swiss Army Knife’ of trading indicators – a simple yet powerful indicator.
First, the indicator can be used to identify changes in market sentiment, as the market ebbs and flows from bullish to bearish and back again. Second, the indicator can be used to identify support and resistance regions as they build in real time. The pivot highs and the pivot lows define the floor and ceiling of support and resistance dynamically. Finally, the pivots can also be used to define the upper and lower regions of trends, again, as they build dynamically.
The Dynamic Price Pivots indicator is not an entry or exit signal indicator, but one that is used with a variety of others, including volume, to help define the market state in real time. Are you in a congestion phase which is building, or a trend which is developing. The Dynamic Price Pivots indicator will help to tell frame the market conditions, which you can then confirm with all your other trading indicators.
The Quantum Dynamic Price Pivots indicator works in time-based charts and other chart types.
Installation
Open your NinjaTrader 8 platform and select a chart.
Right click the chart to bring up a menu which looks like the following image:
Select Indicators… which will open the following window. Alternatively, you can open this window by clicking the Indicators button in the chart toolbar or by pressing Ctrl + I while focused on the chart.
In the Indicators window under Available section, go to Quantum > Quantum Dynamic Price Pivots and click it to select the indicator. Once selected, click “add” under the Configured section which will put it on the list of active indicators to be added in the chart.
Before clicking the OK or Apply button to complete, the indicator has several configurable options. You can click the Apply button at any time, and this will apply any changes you have made to the indicator without closing the window. This will allow you to see the changes you have made to the indicator, without closing with the OK button or the Cancel button.
Configuration
All user input can be configured at the right-hand side of the Indicators window under the Properties section. These are the default settings when you add the indicator in a chart.
Main Settings
Alert
The following settings affect the indicator’s alert notifications displayed in the Alerts Log. You can open the Alerts Log from your NinjaTrader 8 client’s menu bar in the main window at New > Alerts Log.
Alert On Isolated High
When enabled, the indicator sends an alert notification in the Alerts Log when an Isolated High pattern is detected which is marked with a downward arrow on a candlestick.
Alert On Isolated Low
When enabled, the indicator sends an alert notification in the Alerts Log when an isolated Low pattern is detected which is marked with an upward arrow on a candlestick.
Alert Rearm Time (Seconds)
This adds a delay to the next alert notification, expressed in number of seconds.
Alert BG Color
This setting allows you to customize the background color of the indicator’s messages as they appear in the Alerts Log.
Alert Text Color
This setting allows you to customize the color of the text as the indicator’s messages appear in the Alerts Log.
Alert Sound File
You can change here the sound file the platform uses when this indicator triggers an alert. By default, it uses the Alert1.wav file packaged with your NinjaTrader installation. Please make sure that the file is supported and the absolute path to the sound file is entered correctly.
Parameters
Offset
Adjusts the position of the arrows’ away from the candlestick bars.
Other Settings
Data Series
Input Series
Opens the indicator Input Series dialogue which allows you to select the source of data for your indicator’s calculations.
Setup
Calculate
Sets the frequency at which the indicator performs its calculations.
Label
The label of the indicator’s instance displayed on the chart.
Maximum bars look back
Determines the maximum number of bars the indicator can look back to perform calculations on historical data. This is set to 256 by default (the most memory-friendly setting), but it can be changed to “infinite” to allow for a greater look back period.
Visual
Auto scale
When enabled, the indicator will be included in the chart panel’s vertical automatic scaling.
Displacement
Sets the number of bars by which to displace the indicator plots.
Display in Data Box
Enables or disables the inclusion of the indicator’s plot values in the Data Box
Panel
Sets the panel in which the indicator is plotted. If you select “Same as input series,” the indicator will be linked to the Input Series and automatically move if the Input Series is modified to a different panel.
Price marker(s)
When enabled, the indicator value is plotted in the axis selected under the “Scale Justification” property.
Scale justification
Sets the scale on which the indicator will be plotted. Possible values are “Right,” “Left,” and “Overlay”.
Visible
Enables or disables visibility and function of the indicator on the chart.
Plots
Sets a variety of parameters, such as color, for the plots drawn by the indicator.
- IsolatedHigh
- IsolatedLow
Unloading the indicator
Here are the steps to remove the indicator in the chart.
Right-click on the chart then select Indicators… from the menu. Select Quantum Dynamic Price Pivots from the Configured section and click “remove” then OK to confirm and the indicator should be unloaded from your chart.
Using the Quantum Dynamic Price Pivots in the NinjaTrader Market Analyzer
Valid Rows
The Quantum Dynamic Price Pivots indicator works in any instrument.
Adding the Quantum Dynamic Price Pivots as a Market Analyzer Column
Here are the basic steps to add the Quantum Dynamic Price Pivots in the Market Analyzer:
Make sure valid rows are present in the Market Analyzer window.
Right-click anywhere in the Market Analyzer window then select “Columns…” in the context menu.
The Columns window appears. In the Available section, go to QuantumMarketAnalyzerColumns folder then double-click the Quantum Dynamic Price Pivots to add the indicator as one of the columns in the Market Analyzer.
Set the timeframe of the indicator in Properties > Data Series section with the following user inputs:
Type – select a time-based series such as Minute or Day
Value – set the interval for the type of series selected above
After you have finished all your configurations, click OK to confirm your chosen settings and to add the indicator as a column in your Market Analyzer window.
Column Options
The Quantum Dynamic Price Pivots in the Market Analyzer displays only 1 type of signal, so it does not have a Column property.
- Pivot – displays the direction (Isolated Low or Isolated high) of the last arrow created by the indicator and the number of bars passed since the arrow was detected.
Tip: You can change the Label property of the column to describe what type of signal you choose to display.
