Exit Target Indicators
By providing the trader with exit targets, these indicators help a trader to know when she may have outstayed her welcome in the trade.
These kind of indicators use statistics of past price movements and the characteristics of statistical distributions to determine the likely range of current price movement. They consist of:
- Osi_BreakoutExtents - This measures the likely extent of a breakout of a single candle, after the user specifies a percentile rank based on past breakouts. It must be used on time-based charts, and times faster than 10-minutes generally provide results that may not justify trading, as the ticks that the market indicates are available for profit tend to be rather small.
- Osi_TimeSliceRange - This measures the likely extent of price travel in a specified time interval, by using an average based on ranges that have been traversed over an immediate past number of days, as specified by the user in the PropertyGrid. It must be used on time-based charts, and times faster than 15-minutes generally provide meaningless results.
- Osi_SwingExtents - This measures the likely extent of price travel in the current swing, after the user specifies a percentile rank based on past swing lengths. As are all Swing type indicators, it is best used on charts that are constructed with some kind of trend indicating bars. The best bar types tend to be some kind of overlapping Renko-bar type, such as Osi_Renko, UniRenko or NTRenko charts.
The Osi Exit Target Indicators are out of beta test, and were discussed in a webinar that we presented, in the "NinjaTrader ecoSystem" series.
You may access the playback of the webinar and the slides that were used by going to the Development and News pages.
The indicators are, for now, available from the promotion page from the webinar, albeit the promotion has expired.
Here is that page.
Trials are still available from the same page.