Momentum Surge

The Momentum Surge NinjaTrader 8 indicator is an advanced trading tool designed to identify potential breakout opportunities by analyzing specific candlestick formations. This versatile indicator can be applied across various timeframes and trading instruments, making it suitable for a wide range of trading strategies.

For a long signal, the indicator looks for a formation of two consecutive green (up) candles, followed by a red (down) candle. This pattern indicates a potential surge in upward momentum, suggesting an imminent breakout to the upside.

Conversely, for a short signal, the indicator identifies a pattern of two consecutive red (down) candles, followed by a green (up) candle. This formation signals a potential surge in downward momentum, indicating a possible breakout to the downside.

Key Features:

• Versatile Application: It can be utilized across different timeframes and instruments, enhancing its adaptability for various trading strategies.
• Dual Signal Recognition: Identifies both long and short breakout opportunities, based on specific candlestick formations.
• Customizable Entry Conditions: Features adjustable parameters for minimum and maximum bars after the pivotal candle, refining entry points for both long and short setups.
• Enhanced Decision Making: Incorporates additional filters for setup validation, allowing traders to enter the market with increased confidence.

This indicator is strategically designed for moments of clear market momentum, whether seeking to capitalize on upward or downward movements. It can serve as a standalone tool or complement other indicators, providing traders with a comprehensive approach to market analysis.

• MinPullbackBars (int): Minimum number of bars to wait after the pivotal candle before considering an entry. Allows immediate entry if set to zero and the breakout condition is met.
• MaxPullbackBars (int): Maximum number of bars within which the breakout condition must be met, beyond which the setup is invalidated.
• Imbalance Filter Enabled (bool): Toggles an imbalance filter to enhance the setup's validity based on market conditions.
• Strong Close Filter Enabled (bool): Activates a filter based on the closing strength of the candles, refining entry conditions for both long and short positions.
• Plot Offset (Ticks) (int): Adjusts the visual distance between the plotted signal and the high/low of the bar, aiding in clearer signal representation on the chart.

• IndicatorSignalUp: Marks potential long entries with a triangle up symbol, adjusted by the plot offset for visual clarity.
• SignalUpLevel: Indicates the entry level for long positions with a hashed line, based on the breakout criteria.
• IndicatorSignalDown: Marks potential short entries with a triangle down symbol, similarly adjusted by the plot offset.
• SignalDownLevel: Indicates the entry level for short positions with a hashed line, aligning with the breakout criteria for downward movements.
• SignalUp (bool): same as IndicatorSignalUp, but instead of having a double type, we have a bool type. Its value is true when the conditions are met and false when they are not.
• SignalDown (bool): same as IndicatorSignalDown, but instead of having a double type, we have a bool type. Its value is true when the conditions are met and false when they are not.