AB-PowerX is my take on Markus Heitkoetter's PowerX trading system. It's a simple, straight-forward and effective trend-following system that provides objective signals. This indicator brings that system to NinjaTrader along with a few nice extras that I find useful. Best of all, the source code is freely available and, especially if you're not a programmer, I'm very happy to add features upon request. I hope you find this indicator useful if you've been trying to implement the PowerX strategy but found it too time-consuming to do so manually in NinjaTrader.
The indicator constantly monitors the PowerX stack of indicators and automatically displays ‘trigger-lines’ on your chart. This quickly and clearly shows you where to place your buy/sell order to get you into a trade. The line colour and style can be customized.
stops & targets
The indicator checks market volatility using the Average Daily (Bar) Range each time a ‘trigger-line’ is drawn. Automatic stop and target levels are then drawn on your screen even before you take a trade! These are called ‘trade-helper lines’ because they help you plan your trade, see if the recommended levels make sense and then get into the trade clearly understanding your risk and potential reward.
Simply select your account and set a percentage risk amount in the indicator settings. The indicator will automatically calculate your position size (number of contracts to trade) on every signal and display it right next to your risk and target lines! No more separate calculators or switching windows to a spreadsheet.
The indicator has an option to draw up and down arrows on bars that trigger a trade according to the PowerX system. This makes it easy to look back in time and see what happened, or you can use them as a visual cue that you should get into that trade now!
You can customize the information labels drawn next to your ‘trade-helper’ lines. These can show you combinations of risk in ticks, risk in dollars, position size and entry/exit price. All values can be displayed per contract or cumulatively. You can switch the sides of the lines this information is shown on and pick and choose what information is displayed.
There’s a lot of things competing for your attention while trading including everything wanting to eat your valuable chart real estate. You can turn on “most recent only” mode and the indicator will only display the current trigger level. If there isn’t one, nothing will display. But rest-assured, as soon as a level is ready to go, it will appear on your screen so you can take action!
The indicator monitors the drawn levels and automatically removes them from your screen after they expire or if they are not triggered before another level is activated. This keeps your screen cleaner and reduces the chance you’ll act on an outdated level.
Virtually every aspect of this indicator is customizable. You can change the inputs for the base PowerX indicators, alter your Stop/Target levels, show or hide anything or everything and change the colours of anything drawn on your screen. The idea here is to make this great system work even better for you. Efficient information display goes hand-in-hand with a customized clean appearance.
I’d love your feedback and am more than happy to at least try implementing changes or improvements you suggest. If you are comfortable coding for NinjaTrader or in C#/.NET in general and want to contribute, check out my private git repo. If you can’t program but have ideas/suggestions, then shoot me an email!
Want to stay updated on new releases? Have questions or found a bug? Want to submit a feature request? Feel free to email me by clicking the button below. I'll be happy to answer any questions you have, help you get the indicator set-up, or let you know about incorporating your suggestion(s) into future versions. If you know how to program for NinjaTrader or in C#/.NET in general and want to contribute, email me using the button below or file an issue or pull request in the git repo (preferred).email me