OpenClose Plus Indicator for NinjaTrader

What is the OpenClose Plus ?

This is an enhanced version of the OpenClose Setup with a special trend filter that improves the performance of the signals.

OpenClose is a configuration that is mainly related to the color of the bars.

Hence the name, since the color of the candle depends on whether the close is above or below the open.

For example, an OpenClose of 2 Candles, looks for 2 consecutive candles of the same color, as in this example:

If we look at these signals. they are identifying pivots; of maximums and minimums

Now, if we only paint those long signals where the last maximum is greater, and the last minimum is also greater than the previous one, we have the following signals:

We only have one long because the current minimum is higher than the previous one (the previous minimum did not break) and also the current maximum is higher than the previous one (the market has broken the previous maximum)

This is the filter of the New OpenClose Plus ...


We only have Long Signals if the minimum is sustained and the previous maximum was broken.

We only have Short Signals if the maximum is sustained and the previous minimum was broken.



The dedicated indicator TIS_OpenClose_Plus has this and many more options, both filtering and viewing.


For example, it is possible to paint the background of the chart according to the trend determined by each signal.

You can also get the trend from other indicators, from the builder or from Markers.

The signals can be copied with Markers Plus and used as Fast Signals.



Here you can see all its parameters:

As can be seen, it is possible to select the color of the signals.
If fast signals or arrows are used (Enable Plot Signals)
If the new filter is used (PLUS Mode)
If the color of common candle or HeikenAshi is used
If the trend is shown (to be used externally)
If the Background is painted
If once the trend is defined we give a number of expiration candles.
And then for each Signal; Longs and Shorts, we can define:
The number of consecutive candles that meet the conditions
Bar Up / Down sees the color (common or HeikenAshi)
You can also specify if the N candles must have Higher High, Higher Low, Greater Closing, Wick at the top, Wick at the bottom.
If signals are repeated, or only the first one is displayed, etc.











For more information you can see the following video:

Purchase TIS_OpenClose_Plus for NinjaTrader

    Pablo Maglio