1. Import or transfer the BWTPrecisionIndicators1.zip  file to your computer .

2. UnZip the file containing the BWT_NinjaTrader.exe  to the directory of your choice.

3.  Run the setup file by double clicking the file 

4. The first time you insert the BWT Indicators into a Ninja Trader Chart, you will be asked for a License Key. Email the machineID that appears in the window to BWT. A license key will be emailed to you – copy and paste and you will be good to go.

Chart Setup :

In Ninja Trader right click the chart, select Indicators, scroll to BWT and insert any or all of the BWT Precision Indicators.

The Chart below is an excellent example of using Range Bars on the EMini Russell.

In the 1 minute chart above we have the BWT Precision Trend plotted with the BWT Trend Paint Bars, the BWT Precision CCI and the Precision Confirmation Indicator (PreCon). 

 
Inputs:

BWT PRECISION TREND:

1.      Sensitivity: Lower is more sensitive, Higher is less noise. A setting of 1 or 1.4 is recommended.

2.      Paint Bar; Set True to Color Bars

3.      Show Me: Set True to show Dot, Arrow and Price

4.      Show Text: Set False if you DO Not wish to show price.

5.      Sound Alert: Fill in the name of the sound file you want – sound files are located in C:\Program Files\NinjaTrader 6.5\sounds.

BWT Precision Stop

1.      Trail Stop Type

a)      ATR Stop: Symmetrical looling plot creates dynamic support/resistance

b)      Volatility Stop: This is the same logic as the Trend Indicator, except it plot

2.      ShowVolStop: - Set to true to plot the same as the signals – they share the same algorithm. You can see the buy or sell stop one bar in advance with this setting. Set to false to plot an ATR stop. This will look more symmetrical in appearance. Set Sensitivity to the same setting as the Precision Show Me and Paint Bar studies.

3.       

4.      ShowVolAvg: Set to true to plot the VolStop as an average. Plot as dots or a line to show another appealing visual way to contain price, and show you which side of the market to trade. The rule for reversal if using the stop is a CLOSE  above or below

Trade Selection:

·         Simple Rules for usingh the BWT PreCon Indicator

Longs: Bars are blue and plotting above the PreCon

Shorts: Bars are red and plotting below the PreCon

·         If you are an experienced trader and you can execute with proficiency, the BWT Precision Indicators can be traded with a tight sensitivity. The Sensitivity above is set at 1 –A more sensitive setting will give you earlier signals, but may have more noise and whipsaws. If you are scalping, a sensitive setting would be appropriate. The CCI can be used to confirm overbought and oversold in all time frames.

One of the biggest problems traders face when they have put on a good trade is letting their profits run. The BWT Precision Stop will give you the confidence to stay in an extended move. Remember The Rule is a close above or below  the green trail stop would take you out of the trade. The average trail stop is less than 3 points in this case.  You do not have to wait for the indicator to reverse, profits can be taken anytime you have them, use you judgment and experience on how long to stay in a trade.

Using a long trade as an example, If a bar has not yet closed, and price goes above or below the small green dot, the BWT Precision TR will plot a larger dot, (as shown above at 1545.93) I price goes back below $1545.93 and the bar has not closed, the larger green dot will disappear. Discretion will be required when this occurs. Look to price pattern or your CCI or other favorite indicator for confirmation. A simple trendline can often be used as confirmation 

A 330 plus pip move is shown on Nov. 19, 2006 in the GBPUSD with the Precision Indicators. This move went on for another 300 pips….

Tips: To see  Volume  ON charts with no volume to be displayed such as FOREX – select format symbol and change the “For Trade Volume” box to “Tick Count”

** Please feel free to contact us with your questions. If our tools work for you please let us know, you will receive a bonus indicator for your written and dated testimonial. We also welcome ALL  your comments so that we may improve our products and service.

To Your Successful Trading,

Randy M. Sarrow, Developer

Blue Wave Trading Research and Development Inc.

Maui, Hawaii, USA