The structure and its levels
The mid line with its bands and the retracements spread inside the leg, each in its colour.
Trend · NinjaTrader 8
Screenshot of the tool running.
Retracements, inside the trend that explains them.
A loose Fibonacci is two points picked by hand. This one places them for you: a mid line with volatility bands sets the direction, and the levels spread inside the leg that structure defines.
Direction is set by the close
It only switches sides when a candle CLOSES outside the band. An intrabar spike does not count, and that is where half of the false flips come from.
Levels that reposition
From 0.236 to 0.786 inside the current leg. When the structure changes they move on their own: nothing to redraw.
Measured on higher timeframes
Across 136,000 NQ bars, 93 % of legs open the window on 15 minutes against 35 % on 2. It works better higher up, and we say so because we measured it.
The status chip
Direction, how many bars it has run, which retracement price sits in, how far the leg went and which level is closest.
Multi-timeframe
The engine can run on a higher timeframe: here the candles are 2-minute and the structure wrapping them is 15.
What each term means
The names the indicator uses, and what each one means.
- Retracement. How much of the last leg price has given back.
- 0.236 · 0.382 · 0.5 · 0.618 · 0.786. The Fibonacci levels inside the leg.
- Band. The volatility margin around the mid line.
- Neutral zone. When price is not clearly on either side.
- Multi-timeframe. Running the structure on a timeframe other than the chart's.
Where it lives
Included in Starter, Essential and Complete. Starter is the free pack, so this indicator can be tried at no cost.