Daily Extremes - Premium Indicator

The Daily Extremes is a custom-programmed indicator developed by Rize Capital to be used on the NinjaTrader 8 trading platform. This indicator plots the potential daily top and bottom of the market using live data. When you add this indicator to your chart, it will look similar to Image 1. Now, if you look at Image 2, you will see the potential ‘Market Top’ and ‘Market Floor’ text plotted on the chart, which are marked by red down arrows. It also plots dynamic red and green lines, indicated by white down arrows in Image 2, to show you the historical top and floor of the market.

From Image 1 or on your chart, you will notice that sometimes the price goes through the market top and floor lines, which are indications that the market price is likely to reverse. You can use this indicator to manage your risk/reward, or you can use it for entries and exits—which will depend on your trading style or strategy.  

This indicator works on any market and any instrument. Please note that this indicator works on an intra-day time frame only, as its purpose is to plot the daily market top and floor. 

Now, you can change the period value or the colours of the plotted text from the indicator’s settings, which are marked by a lime green rectangle in Image 3. It is recommended not to change any of the default settings, which are within the red rectangle in Image 4, for the proper functioning of this indicator. 

Depending on your chart background or for any other purpose, if you decide to change the colours of the market top and floor lines, you can do so from the parameters marked with a white rectangle in Image – 5. However, if you still have any further queries, please watch the video tutorial above to understand how this indicator and its settings work.