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We do a lot of price structure analysis here at TradingCoders, and we have put our skills to good use to build an institution-class mirroring engine for NinjaTrader. 

Price builds complex, fractal patterns, and although these can appear chaotic and random, we believe there is enough structure in the formations to build some predictions of the future. Algorithmic trading is now the majority of volume on the NYSE, so a lot of big money people are using computers to analyze and forecast price movement. Computer models can and do create structures in the market, and we think we can see them in the lines of force shown by our new indicator, MirrorLines.

 

MirrorLines paints graphics on the chart that spread out like a torch beam. The lines are created on the bar where the boundary lines go from thin to thick, as shown with the arrow below. Everything to the right is prediction.

Watch this video for a quick overview!

How does it work?

 

The shapes that price creates as it thrusts, wiggles and meanders up and down contain a huge amount of information. There are some commonly used techniques to try to predict what will happen next after a particular price pattern. One of the more famous methods is Elliott Wave Theory, finding patterns of 3 or 5 'waves' in price. Other simpler chart formations that are routinely taught are things like Head and Shoulders, Triangles, Pennants and Flags, Saucers etc.

The problem with these standard chart patterns is that they only use forms simple to find with the human eye.

MirrorLines uses information within price structure that is too complex for humans to calculate.

There is a lot of calculation going on under the hood of MirrorLines. Without boggling you with the fine details, multiple rays and significant trend vectors (angles of thrust) are discriminated and can be plotted on a chart. These graphics fade off gradually into the background, so that the chart isn't a mess of lines that would simply add more confusion to your trading day. You can tell at a glance how "fresh" or not the lines are, and perhaps how likely price will recognise and react to the price levels the lines indicate. The length of the lines is calculated automatically for you, yet you can adjust them with a user parameter to make them shorter or longer to suit your needs. There is no magic "right" length; we have been amazed at how long after MirrorLines creates a prediction that price will turn - almost to the tick of where the line is - days, weeks, months, even years later!

MirrorLines has a drop-down menu available from the chart menu bar, with 7 presets. These presets roughly translate to short term through to long term analysis. We consider the two presets 'MAIN THRUST" and "MAIN TREND" to be the standard settings, yet you can look at shorter (smaller) and longer (larger) types of analysis which are all very effective. 

 

MirrorLines recalculates immediately, live on the chart while you watch.

MirrorLines has a drop-down menu available from the chart menu bar, with 7 presets. These presets roughly translate to short term through to long term analysis. We consider the two presets 'MAIN THRUST" and "MAIN TREND" to be the standard settings, yet you can look at shorter (smaller) and longer (larger) types of analysis which are all very effective. 

MirrorLines recalculates immediately, live on the chart while you watch.

You can load MirrorLines onto a chart multiple times, and set each one to a different preset, to see a fuller "roadmap" of lines for price to follow. Both the foreground color (light blue is default) and the background color (dark blue) are adjustable with inputs. 

 

A second dropdown menu provides some advanced options. You can
 

  • change the calculation method used to a more complex model using more data, which can reveal additional forecasts.

  • change what is displayed on the chart, choosing from 

  •      Major Trendlines (the 'torchbeams' with the thick boundary lines)

  •      Rays (individual lines that spread out similar to a Gann Fan)

  •      All (both Major Trendlines and Rays)

  • change the display preference for when MirrorLines "adapts".
     

Adapting

 

MirrorLines creates a prediction soon after price forms a pivot, or swing, either High or Low. Yet sometimes price continues to push and will continue further, creating a new Lower Low swing or a new Higher High swing. In these scenarios MirrorLines can "adapt" the prediction forward to the new swing and recalculate. The default setting, Adaptive, shows these adapted lines. 
However, you can also choose to see the lines from each swing remaining on the chart, up until they were adapted forward. This is the AdaptiveWithHistory setting.
You can also choose to see everything staying permanently on the chart, and this is the Permanence setting.

There are some additional parameters available within the indicator's standard parameter dialogue window, which allow you to change the colors and configure various display preferences. One important parameter available here is Visual Extension, which scales the lines on the chart to be shorter or longer. So if you wanted to see much longer lines than the standard setting of 1 you could change to 3, for example, and the lines would be triple the normal length on the chart.

 

How do I use MirrorLines in my trading?

 

MirrorLines isn't a trading system on its own. What you can use it for is to see revealed on the chart the dynamic levels of Support and Resistance that have previously been hidden from your view. MirrorLines can also reveal the direction of the next trend that is about to unfold, which to describe as helpful would be an understatement!
MirrorLines can incorporate into your current trading method and enhance it by a giant leap.
 

  • Looking for an entry? See great choices for price levels nearby where the market might turn

  • Looking for a smart stoploss level? Place it behind a MirrorLines TrendLine or Ray

  • Looking for a great profit target? Price will often reach forward to kiss the vectors of force revealed by MirrorLines

  • Watch for confluences, or junctions of multiple lines, where price can be irresistably drawn.
     

Try it FREE

 

Download MirrorLines and try it free for 7 days. 

 

If you're ready to purchase this institution-class trading tool, MirrorLines is $99USD. (originally $795 !) 

You can also purchase in AUD ($129) or EUR (€89).

 

DOWNLOAD FREE TRIAL for NinjaTrader 7

Click here to PURCHASE

 

TO INSTALL:

Install via NinjaTrader's menu File/Utilities/Import NinjaScript, selecting the zip file downloaded from this website. 
 

You will find the indicator in the "T"s in the Indicator list, named TC_MirrorLines

 

TO UNINSTALL:

Uninstall via NinjaTrader's menu File/Utilities/Remove NInjaScript Assembly

MirrorLines

Incredible trend forecasts in NinjaTrader 7 (now just $99 USD) Click here to PURCHASE