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While the NinjaTrader platform is not as well known as other trading platforms, it has a strong and loyal following who value some of the advanced functionality that the NinjaTrader platform has to offer. Unfortunately, not many Forex brokerages offer the platform to their clients however it is possible to download the platform and use it standard features for free. This allows you to make use of certain features but will not allow you to place live trades via your brokerage. Despite the limited number of brokerages offering the platform, many will be interested in some of the advanced functionality which sets the NinjaTrader platform apart from more well known competitors such as MetaTrader 4 & 5 and the increasingly popular cTrader platform.


 

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Advanced Charting

NinjaTrader Review

 

One of the main selling points of the NinjaTrader platform are the advanced charting features that come built into the platform. The platform comes packed with a 100 plus indicators and allows for the development of custom indicators via the NinjaScript language. There is also a large library of custom indicators which can be used in conjunction with the platform. All the charting functionality you would expect from a modern trading platform is also included, but the thing I most appreciate about the NinjaTrader platform is how crisp and clean the charts are which makes the charts a joy to read. The customisation settings also allow you to adapt how the indicators appear meaning that the charts can be customized to the exact look and feel you prefer.

Market Analyser

The Market analyser tool is something which is likely to appeal to those who trade multiple markets. Essentially the market analyser tool makes it a much easier task to monitor a wide range of markets, allowing users to set up rules which alert them when they should buy and sell a certain market. The job can also be done by creating custom criteria using the platforms NinjaScript language allowing you to easily keep track of buying and selling opportunities across a array of different markets.

Trade Simulator & Market Replay

The Trade Simulator and Market Replay tools are something that are really interesting, and are also features that are unique to the NinjaTrader platform. The real time Trade Simulator allows you to enter into real time trades with full order and account simulation, allowing you to test out new strategies without placing your own money at risk and without the need to have a separate demo account for testing. With the realistic fill engine giving you more accurate indication of how a trade would have performed if placed for real. Related to the Trade Simulator, is the Market Replay feature which allows you to record live data for playback in the future, this allows you to get access to true tick by tick data which you can then replay at the speed you choose. Additionally, NinjaTrader allows for users to use a simulated data feed which can help test trend following automated trading strategies while also serving as an excellent tool for getting to grips with the NinjaTrader platform.

Automated Trading

There is a huge amount of interest in automated trading and NinjaTrade has functionality that allows traders to automatically trade a range of financial markets. The platform uses the NinjaScript language which is closely related to C# which is also used by other trading platforms such as cTrader. This means that there should be limited worked involved in converting many trading scripts over to NinjaTrade and also means that there is a large pool of qualified programmers available to work on any projects which you are unable to implement yourself. The platform provides a full testing suite allowing you to back and future test your automated trading scripts. What is unique about the Additionally, the platform supports Monte Carlo testing which is something that may appeal to the more statistically minded trader.

Analytic Tools

The platform also boasts some nice analytic tools which help the user gain a deeper insight into the markets they are trading, with the platform allowing traders access to both Level II data and Time & Sales Data. While this is becoming standard across trading platforms as the industry continues to move towards STP/ECN execution, it is still a very nice feature to have. The platform also allows you to integrate a RSS feed into the platform meaning that you don’t have to look elsewhere for any breaking news.

Conclusion 

Those interested in some of the advanced and unique functionality of NinjaTrader should certainly head over to the NinjaTrader site and try out the free version of the platform. Despite some of the impressive features of the platform, only a limited number of brokerages offer the platform to their traders and often only to those who meet certain predefined requirements. Additionally, while the platform provides support for automated trading the size of the NinjaScript community is relatively small meaning there are less readily available trading scripts for those who do not want to write their own. The large community writing and programming Expert Advisors for MT4 is a big reason why the platform remains so popular many years after its initial release in 2005. Those who are able to access to the platform via their broker or who are simply looking for a powerful and professional trading platform should definitely take the time to try out the NinjaTrader platform, to review whether they can make use of the platforms advanced features.

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