GENERAL

What is ProTradingTools?

ProTradingTools creates copyrighted, programmable templates designed for the non-programming trader to quickly and easily create and tweak their own indicators and strategies. The templates are extremely versatile and powerful and can be used to substitute or seamlessly supplement almost any existing system. They take a little time to learn, but once familiar, writing a program will be like writing a post-it note, and from there the possiblities are endless. Before long you will have them consolidating indicators, autodrawing fibonacci plots, and constantly updating you with objectively pre-qualified conditions.

How does ProTradingTools benefit me?

ProTradingTools is designed to help all levels of traders, primarily in the areas of focus, awareness, and confidence. Focus by minimizing distractions and busy work, awareness through advanced preparation and updates, and confidence by true ownership, knowing you will always be able to conceptualize, analyze, and capitalize in the market in a style that's comfortable for you.

BAR PROFILER

What is the Bar Profiler?

The bar profiler is an extremely flexible timing template used to flag bars that satisfy a series of pre-specified, synchronized conditions. The template hosts approximately 3 dozen parameters, maybe looking a bit intimidating at first glance. However, when you take a closer look you will see the parameters are replicas of themselves organized into 4 main studies (Volume, Spread, Extreme, and Close). Spend a few minutes to learn one section and the rest will come naturally. The remaining parameters are for setting prerequisite conditions, volatility, and signal configuration.

How does the Bar Profiler work?

You simply select parameters of interest from the profiler's cafe-style menu and set thresholds for them. All programming arguments within the bar profiler are cumulative “AND” statements. Each parameter is a logic gate.  You can also create an “OR” scenario by loading an additional Bar Profiler with alternate settings. Generally, changing a parameter's variable from zero activates that parameter to use the changed value as a threshold. Returning the variable to zero returns the parameter to an inactive state.

What is the purpose of the Bar Profiler?

The Bar Profiler is used to alert synchronized market conditions of interest that involve volume, candlesticks, efficiency, volatility, and combinations thereof. As a template, it is often loaded multiple times under multiple configurations. The Bar Profiler, like its cousin the Pivot Profiler, are "Now" timing signals, making them excellent trade triggers depending on how they are configured. Typical practice is to configure five 75% favorable buy and sell signals, which is not difficult to find. The idea is to then match them with high-probability "where" areas to trade them. Those can come from our matrix of trendlines, fibs, pivots or any existing system you have.

Why do I see all the bars flagged with red Xs when I first load the Bar Profiler?

This is normal expected behavior indicating your template is functioning correctly. The bar profiler is essentially a filter designed to flag conforming bars. Upon initial loading, nothing is being singled out yet so the template assumes all bars qualify and flags them all accordingly. The reason the flag is a red X is because it is the default text signal. The red Xs will remain until at least one filter is set or the template is switched off from its dashboard panel.

What chart types does the Bar Profiler work on?

The bar profiler works on all NinjaTrader chart types, time frames, and indices, provided the data being sought is available. Since volume is only provided on time charts, use of the volume parameters outside of these is irrelevant.

What if I lose track of the Bar Profiler settings I changed and want to reset the indicator?

Your options are to remove and reload a new iteration, which is the safest but more tedious choice, or you can examine each parameter line by line. Intrinsic variables can usually be reset to zero rather quickly and relational variables can be set to “Ignore”.  With NinjaTrader version 7.0, you will be able to save your indicator settings as a default.

How can I keep an external record the Bar Profiler settings I have created?

A MS Excel spreadsheet to log your profiler keys is available for the asking. Please write to TraderJoe@protradingtools.com.

ALL TRENDLINE AND FIBONACCI STENCILS

Why am I unable to see or keep lines on my chart when I scroll back?

There could be several possibities. The most likely reason is you are still connected to live feed. All of our drawing stencils contain code to remove or update lines to avoid clutter and obsolesense. When logged into a live feed, only the right side of your chart is kept current. If this is the case, simply disconnect from your account, scroll back to your origin of choice, and refresh your chart by pressing the F5 button. You should now see the lines re-appear and be able to watch the chart dynamically update as you move forward.

Another possibility is scaling. It is possible you have changed to an instrument where your current settings are no longer valid. In this case, you will have to adjust accordingly. If these methods do not resolve the issue, please let us know so we can look into it right away for you.

MATRIX

Why do my bar profiles often signal a bar late when exclusively reflecting Matrix data?

NinjaTrader processes indicators in the order they are loaded on the chart. Care should always be taken to make sure indicators that write information are loaded before indicators that read information. This allows the fraction-of-a-second latency it takes to write the update in time to be read. Use of a RAM disk can help considerably, and also reduce the wear and tear on your hard disk.

Why, when I involve the matrix, does my signal count only begin counting when advancing through a chart?

Fortunately, this only occurs when using historical data. Unfortunately however, NinjaTrader processes historical data horizontally rather than vertically. This means that rather than calculate through an indicator stack on a bar by bar basis like it seemingly does in real-time or forward testing, NinjaTrader processes from the beginning to end of the chart sequentially for each indicator in the stack. NinjaTrader has replied to our inquiries on this known issue stating they have no immediate plans for correction. Perhaps until a few more requests are made, back test results using the trade matrix will have to be obtained from forward testing through historical data. The trade matrix requires synchronization at the bar interval rather than at chart depth.