Trade Detector V2 Free

Functionality:

 

• Transaction Detection: TradeDetectorV2’s core function is to identify and display major transactions within a very short timeframe at specific price levels. It particularly focuses on limit orders where large volumes are traded at the same price. It classifies the magnitude of these transactions using three different volume thresholds (500, 1000, and 1500(customizable)). It is recommended when switching from Minis to Micros to increase the volume threshold
• Visual Signals: When a significant transaction is detected, the indicator visually marks this event on the chart with:
  • Dots: Colored green for bullish transactions (buying) and purple for bearish ones (selling).
  • Lines: These extend from the transaction price to the current median price, providing a clear visual cue of market direction.
• Alerts: Users can configure audio alerts for both buy and sell signals, allowing them to react to market changes without constantly monitoring the chart. The sounds for these alerts are customizable, with default paths set for each.
• Display Options: Traders have the flexibility to show additional information like the exact time or volume of the transaction, which appears as text near the transaction’s price point on the chart. This can be toggled on or off based on user preference.

How It Works:

• Initialization: Upon setting up, the indicator configures itself to calculate on bar close and overlay on the chart.
• Bar Update: With each new bar update, the indicator checks if the current volume meets or exceeds any of the predefined thresholds within a one-second timeframe. This check ensures that only significant, quick trades are highlighted.
  • Time and Volume Check: It calculates the time difference between the current bar and the previous one-second bar to determine if the transaction was instantaneous. If both time and volume criteria are met, it proceeds to display signals.
• Drawing on Chart:
  • Dots are drawn at the median price of the bar where the transaction occurred.
  • Lines connect from the transaction point to either show time, volume, or both, based on the settings.
  • Text for time or volume is rendered next to these lines for quick reference.
• Alerts: If enabled, alerts play specific sounds to notify the trader of buying or selling signals, which is crucial in fast-paced trading environments where every second counts.
• Customization: The indicator allows for extensive customization via NinjaTrader’s properties panel, where users can adjust thresholds, time frames, alert options, and visual aspects like colors and text size.