We are proud to present the first ATR-based tick charts type and ATR-based Heikin Ashi tick charts for NinjaTrader. As many already know ATR stands for Average True Range and is commonly used to determine market volatility.
Many traders love Tick charts and Heikin Ashi Tick charts. However, until now there was no way to determine which tick size to use. Most traders settle for a 512 tick chart, or a 2000 tick chart no matter the market's volatility. Since markets are always changing choosing a tick size based on how volatile the market seems like a better idea.
This is why we designed the ATR-based Tick & ATR-based Heikin Ashi Tick bar type.
- automatically adjusts the tick size based on the current market volatility.
- you never have to guess again what tick size to trade.
always use the correct tick size for current market conditions
- Use the same charts no matter if you are trading micro's or mini's
During high volatility, this bar type will automatically increase the tick size. When the market returns back to normal or low volatility the tick brick size will be lowered as well.
ATR period and timeframe settings
You can choose the ATR timeframe (in minutes) and ATR period to use for calculating the optimal Renko brick size. By default, the tick size gets calculated by using a 1min timeframe and 30-period ATR as shown in the screenshot below.
The same chart on Micro's and Mini's
One of the advantages of using the ATR tick charts is that now you get to see the same chart on both the micro and mini futures contracts. In general, the micro's have less volume than the mini's and normally you would have to use a lower tick size on the micros. For example, a 2000 ES tick chart would correspond with a 952 MES tick chart. With the ATR-based tick charts, you never have to think about this again. Since the chart auto-adjusts to market volatility the micro and mini tick charts now look the same, as shown in the following screenshot.
- ATR based tick bar type
- ATR badsd Heikin Ashi tick bar type
- Automatically adjusts tick size in real-time based on market volatility
- Allows you to change the ATR timeframe & period.
- supports tick replay
- Works with any market
- Works with any NinjaTrader license
- released the first version