Imbalance Index
Description
The Imbalance Index NinjaTrader 8 indicator calculates an index based on the number of imbalances created. Sometimes it is also called inefficiency.
This type of imbalance is not to be confounded with the OrderFlow imbalance.
Parameters
Period: Number of bars used in the calculation.
Imbalance Min Range: The minimum required distance between the two bars.
Plots
Value (double): will plot a value between 0 and 1. 0 means that in the last selected period, none of the bars created an imbalance that met the conditions.