2 Finger Salute

The AlgoBox™ 2 Finger Salute is an indicator-based strategy specifically designed for range bars.

The 2 Finger Salute indicator detects a 2-bar pattern using proprietary algorithmic criteria.

The only range bar charts in the default AlgoBox™ workspaces are the Tide and Wave charts, which are the highest "time frame" sized charts of the AlgoBox™ system. Since the 2 Finger Salute is designed only for range bars, it is not recommended as an entry strategy by itself.

The 2 Finger Salute indicator is a powerful tool for identifying market bias and setting targets. Combine it with the Order of Operations for a comprehensive trading approach.

The 2 Finger automatically plots suggested potential levels for Target 1, Target 2 and Target 3.

The two green lines represent Target 1 and Target 2, and the red line represents Target 3.

There are 3 levels of 2 Finger Salute strength:

• Loose

• Moderate

• Super

With a Super 2 Finger Salute, aiming for the red line (Target 3) may provide a higher probability of hitting than aiming for Target 3 with a Loose 2 Finger Salute.

2 Finger Salute Settings

1. Audio

The audio alerts you once a 2 Finger Salute is plotted on the chart. You can customize these alerts by changing the audio to a preferred voice or sound, or turn them off entirely.

Sound Alert: Receive sound alerts when a 2FS is detected on the chart, with the option to add your own custom sound.

AlgoVoice: You can enable or disable real-time audio alerts as per your preference.

Voice Rate: You can customize the speed of the AlgoVoice alerts to your preference.

All custom sounds must be in .wav file format only.

2. Calculations

Allows you to control how frequently the 2 Finger Salute indicator recalculates. The Calculation sets the frequency of these calculation cycles. Customization allows for greater control over data update rates.

Calc Override: Default setting is unchecked. Check this setting to customize and utilize Calc Interval.

Calc Interval: Set your custom desired calculation interval. The smaller the number, the more frequently the indicator will recalculate, which increases processing load on your system's CPU. The default setting of 1000 is in milliseconds, which is equal to 1 second. If you wanted the 2 Finger Salute to calculate every half second (twice as fast as default 1000ms), then you would enter 500 in this field.

Limit # of Bars (Performance): Set the maximum number of bars the indicator will use to calculate 2 Finger Salutes.

Show Strict: Setting on "Yes" will calculate/plot Super 2 Finger Salutes on the chart.

Show Moderate: Setting on "Yes" will calculate/plot Moderate 2 Finger Salutes on the chart.

Show Loose: Setting on "Yes" will calculate/plot Loose 2 Finger Salutes on the chart.

3. Custom Settings

Popup Alerts: Setting on "Yes" will display a popup alert via NinjaTrader when a 2 Finger Salute plots on the chart.

Show Text: Setting on "Yes" will display text labeling each 2 Finger Salute that plots on the chart.

4. Data Series

Displays the current chart instrument, contract date and configurations applied.

Input Series: This setting determines which chart the indicator is displayed on, linking the indicator to the selected chart data.

5. Setup

Allows you to add a label, set the maximum bars to look back, and configure calculations based On Price Change, On Bar Close, or On Each Tick.

On Price Change: Updates the indicator only when there is a change in the instrument's price.

On Bar Close: Updates whenever a new bar closes, recalculating based on the finalized bar data to reflect the latest market conditions and changes in trends. Be mindful of whether you are using AlgoBars or range bars. This is the default setting for this indicator.

On Each Tick: Updates with every price change or tick in the market, providing real-time adjustments and reflecting the most current data. This setting increases CPU processing load.

6. Visual

Allows you to customize line colors of target lines and modify the display settings to suit your preferences. The Visual Settings shown are default settings which usually do not need to be changed unless specified in release notes or instructional video, live stream or on Discord etc. Auto scale is recommended to be unchecked.

Auto Scale: Automatically adjusts the indicator’s scale to fit within the chart’s price axis, ensuring it’s properly visible without manual adjustments.

Displacement: Shifts the indicator's plot forward or backward on the time axis. This setting is useful for aligning the indicator with price bars or other chart elements, especially in cases where you want to visualize future or past data relative to the current price.

Display in Data Box: Determines whether the values are shown in the Data Box, which is an on-screen display that provides detailed information about the current values when you hover over or click on the chart.

Panel: Specifies which panel or sub-panel the indicator is displayed in on the chart. Indicators can be placed in separate panels above or below the main price chart, allowing for organized and uncluttered visualization of multiple indicators.

Price Markers: Controls the display of markers or symbols on the price axis associated with the indicator's values. This setting helps highlight specific price levels or events directly on the price chart for better visibility and analysis.

Scale Justification: Determines where the indicator is positioned on the price scale, such as to the right or left side of the chart.

Visible: Toggles the overall visibility of the indicator, allowing you to hide or show it on the chart as needed.

Video Tutorials: 2 Finger Salute

Only available on AlgoBox™ for NinjaTrader 8. Try AlgoBox™ for free today.

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