NinjaTrader 8
Reversal Indicator
Angels and Demons
- Purpose: The Angels and Demons Indicator is designed to show professional and institutional buying and selling signal bars.
- Description:
- The Eminiwizard System allows users the flexibility to define their own parameters for RTH or Globex markets.
- Our system is a variation of the Signal Bar Strategy taught by Kevin Haggerty of Fidelity Investments.
- This Indicator plots Angels and Demons as the battle between them ensues.
- The Angel (long side signal) is born to test the Demon, and the Demon (Short side signal) is born to test the Angel.
- If they are violated, a new one needs to be formed for safer entry
- Multiple broken Angels, for example, suggest a market searching for support.
- Our indicator plots the midpoint value.
- A reversal signal is given when an angel or Demon is tested and not violated.
- NinjaTrader Use:
- Displayed as two boxes, with a midpoint.
- The original version typically used a 5 minute bar. We use a 3 minute bar.
- Customizable parameters according to User’s preferred style
- We color code the Angel and Demon.
- A large Angel or Demon needs to have risk reward considerations factored in to reduce risk.
- Prior Angels and Demons can be made visible or not depending upon User preference.
- Practical Example:
- On our ES chart example, the Angel and Demon are identified.
- Selected NT8 tools may be added to the chart to provide valuable insights.
- The midpoint is easily recognized by the different color boxes.
- Price reversals are seen in hindsight, but relatively quickly.
