If you’ve been with us for some time, you probably know about our free news indicator for NinjaTrader 8. For those of you who just found us, you may want to jump right over to our downloads page and get going right away.
This video explains what our news indicator is and what it can do…
Basically, upcoming news events will automatically plot in the upper-left corner of the chart. They are color-coded for severity level. The [H] [M] and [L] relates to the color, designating a high, medium, and low impact news event, respectively. We tend to look out for the high-impact USD events. We stay out of the market while those news events are driving price up or down with increased volatility. Once that volatility subsides, we consider it safer to begin trading again. Sometimes this can take 15 min. or longer.
You may have noticed the default value for the number of news events is 15. This takes up a fair amount of space in the upper-left of the chart. Reduce that value to a number like 5 and you may be better off. If you only trade US markets, by all means, enable the option that allows only USD events to appear.
If you prefer to look at news events in a way that it separate from your chart, we have a page set up just for that, which is here.