Calculate Value Area

This is a NinjaTrader 8 port of the CalculateValueArea indicator by sbgtrading.

Just recently I read a free article on the "Value Area" and decided to write an indicator for it.

Basically, the Value Area is the price range where 70% of yesterday's volume traded. The theory being, if you know where this bulk of volume occurred yesterday, you can see if the market is in balance or out of balance today, and trade accordingly.

I've attached the indicator (V6.5 compatible), and I'm also attaching the PDF file that describes its use. The article was written by Larry Levin, but the theory is widely known by professional traders.

This version of this indicator runs best on 1-minute charts, but once the value area is calculated on a 1-minute chart, you can manually transfer the levels to any timeframe.



2/26/2018: Updated with a fix for a reported indexing issue, courtesy of sgbtrading.

Created By NinjaTrader_Jim
NinjaTrader Version 8
File Size 3.7 KB
Create Date 02/14/2018
# of Downloads 1989

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