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Note: This download requires NinjaTrader 8 release 8.1.3 or newer.

Introduction to Ergodic Oscillator

The Ergodic Oscillator, a technical analysis tool for NinjaTrader, is designed to identify market trends, momentum, and potential reversals. Developed by William Blau, it builds upon the concept of the True Strength Index (TSI), which measures the strength of a trend by comparing price changes. The Ergodic Oscillator enhances TSI by smoothing price data and incorporating multiple periods, reducing noise and providing clearer signals. This makes potentially effective for traders seeking to identify optimal entry and exit points in various market conditions.

Advanced Features of Our Modified Ergodic Oscillator

1. Custom Data Source: Users can select from various data inputs, enhancing flexibility beyond just closing prices.
2. Internal Averaging Methods:
   • The indicator supports multiple averaging methods, including Exponential, Simple, Hull, Weighted, VWMA, TMA, TEMA, and Wilders, allowing traders to customize the smoothing process to fit different market conditions.
   • Averaging method for the main curve and the signal line are independent.
3. Customizable Periods:  The indicator allows users to adjust the long period, short period, and signal period, tailoring the indicator to specific trading strategies and timeframes.
4. Automatic Trend Display: It features an automatic trend display option, providing clear visual signals of market direction upon request.
5. Dynamic Display: The indicator both the True Strength Index and the Ergodic histogram. The user has the choice to disable any of the displays.

How the Modifications Enhance the Original Indicator

• Enhanced Flexibility: The ability to choose custom data sources and internal averaging methods makes the indicator adaptable to various trading styles and asset classes.
• Improved Signal Accuracy: Customizable periods and advanced display options provide more precise entry and exit points, reducing false signals and potentially improving trading performance.
• User-Friendly Interface.

Review the screenshots for setup options.

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