What Charts Can Do in NT8?
NinjaTrader 8 (NT8) is a powerful and intuitive trading platform that provides traders with the ability to analyze the markets, place and manage trades, and develop automated strategies. One of the most powerful features of NT8 is the ability to use charts. Charts in NT8 range from basic line and bar charts to complex technical indicators that help traders make better decisions. With the right knowledge and skills, traders can use charts to identify trends, make predictions, and develop strategies that can help them achieve their trading goals.
Charts in NT8 can be used to identify trends and patterns in the markets. For example, traders can use price action to identify support and resistance levels, trend lines, and other chart patterns that provide information about the direction of the market. By studying the charts, traders can also identify potential entry and exit points for trades. Additionally, traders can use technical indicators to help them gain a better understanding of the markets and make more informed trading decisions.
How to Link Charts in NT8
One of the most useful features of NT8 is the ability to link charts together. Linking charts together allows traders to analyze different time frames and compare multiple markets simultaneously. It also makes it easier to identify correlations between different markets and develop strategies that take advantage of these correlations.
To link charts in NT8, traders must first open the Chart Trader window. This window can be accessed by selecting the “Charts” tab from the main menu. Once the Chart Trader window is open, traders can click the “Link Charts” icon at the top of the window. This will open a new window that allows traders to link multiple charts together. To link two charts, traders must select the “Link” option in the “Charts” menu and then click the two charts they wish to link together.
Once two charts have been linked, traders can use the “Compare” option in the “Charts” menu to view the charts side by side. This makes it easier to identify correlations between different markets and develop trading strategies based on these correlations. Additionally, traders can use the “Unlink” option in the “Charts” menu to unlink the two charts when they are no longer needed.
Advantages of Linking Charts in NT8
There are several advantages to linking charts in NT8. The first is that it makes it easier to compare multiple markets simultaneously. This can be very useful for traders who want to identify correlations between different markets and develop strategies based on these correlations. Additionally, linking charts also makes it easier to identify support and resistance levels, trend lines, and other chart patterns. This can help traders make more informed trading decisions.
Linked charts also make it easier to spot reversals and other chart patterns. By studying the charts in different time frames, traders can better identify potential entry and exit points for trades. Additionally, linking charts makes it easier to track a trade’s progress and adjust the strategy accordingly. Finally, linked charts can also help traders develop automated strategies and test them on different markets.
Conclusion
Linking charts in NT8 is a powerful feature that can help traders make better trading decisions. By linking charts together, traders can compare multiple markets simultaneously and identify correlations between different markets. Linking charts also makes it easier to identify support and resistance levels, trend lines, and other chart patterns. Additionally, linking charts makes it easier to spot reversals and other chart patterns, track a trade’s progress, and develop automated trading strategies. By utilizing the features available in NT8, traders can take their trading to the next level.