Closes Outside Index
Description
Closes Outside Index NinjaTrader 8 indicator calculates an index based on the number of bars that closed outside the range of the prior bar. The idea behind it is that the current bar closes outside the range of the preceding bar, and the price is not ranging.
Parameters
Period: Number of bars used in the calculation.
Plots
Value (double): will plot a value between 0 and 1, 0 means the price is ranging. 1 means that over the selected period all the bars closed outside the bar preceding them.