This indicator tracks the bar prices whenever a BloodHound signal occurs. A BloodHound template file must be loaded into this indicator for it to work, and a logic template must be selected. The indicator will not work with the BloodHound Standard edition.
On the image above, when a signal occurs, you can see the high and low prices are plotted and tracked forward on the chart until the next signal occurs. All bar prices are tracked, including unique body high and body low prices.
This indicator was created for systems that have “Setup” or “Qualification” bars, prior to trade signal. These type of systems wait for price or an indicator to break above/below the Setup bar. When the break occurs that is commonly called the “Confirmation” or “Signal” bar. The indicator can also be used in BlackBird to set a stop-loss to the Setup bar’s low or high price.
We are sure traders will find many other uses for this indicator as well.
Tip: The BloodHound file loaded into this indicator should be a separate stand-alone file to help prevent editing/modifications while being used by this indicator. And, to help prevent infinite self referencing loops. It is recommended the BloodHound file not be loaded into BloodHound and this indicator at the same time. Unknown issues may occur.
WARNING: The BloodHound template loaded into this indicator must NOT create a circular reference (a self referencing loop). i.e. This indicator is intended to be used within a BloodHound system, therefore when you are creating a BloodHound system it is possible to load the same BloodHound file into this indicator creating a circular reference. A circular reference will crash NinjaTrader and possibly corrupt files.
E.G. Let's say you create a moving average crossover bar breakout system. You name the Bloodhound template file “MA XO Breakout“. The first logic template is a simple MA crossover signal. This Setup Bar Prices indicator will use the signals from the first logic template to identify and then track the crossover bar prices. The second logic template will identify when the market breaks out of the MA crossover bar prices. To do that, another crossover solver is used, and Input B is set to use this indicator. This indicator is set up to load this same Bloodhound file (MA XO Breakout), and use the first logic template. That creates a circular reference, because the MA XO Breakout file is being used within itself via this indicator.
This video is from the June 17th 2016 workshop, which took place prior to the official release of this indicator.
For more benefit please watch in full screen mode, as this video is recorded in HD.