How to Use the Data Box

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Video Transcript:

Hello, traders! Welcome to the NinjaTrader tutorial and the second module, charting. In this lesson, I’m going to show you how to use a data box. The data box is a cool feature on NinjaTrader that will allow you to get even more information out of your chart, so you can make better decisions when you’re trading, and of course so you can better analyze your charts and price action itself.

Now let’s jump to Euro/US Dollar Forex Chart and let’s start with the lesson. Okay, so here’s the Euro/US Dollar Forex Chart and there are two ways to pop out the data box onto your chart. The first one is to right-click on the chart and click here on show data box. And the second one is to click here on this icon that has a magnifying class onto it and click on it.

Databox ninjatrader

data box

Now this is what the data box looks like. As you can see here on the panel one, we are looking, in fact, at the Euro/US Dollar four-hour chart. And the information that we have on the data box is pretty straight forward. We have the time that the candle opened. We have the price that it opened. We have the high, the low, and the closing price, and we have a very important piece of information, which is the volume traded during that period of time.

Now let’s go and let’s look at… Well, first of all, let me thicken this out for you guys, because I think we need a thicker chart for me to show you what this data box actually can do. There you go. Now let’s say that we want the information off of this candle right here, which is the candle that broke with this entire corrective move to the upside. Now if you hover your mouse over the candle, you will get the information that the candle is providing in the data box. For example, this candle opened at 8:00 a.m. in the morning at a price of 13.72. And as you can see, at the right of the chart on vertical axis, you can see that my cross point is actually at 13.72, which is the opening price. The closing price is 12.57. And you can see on the data box, it’s also 12.57, and the high and the low of the candle.

Plus you get the volume of the candle. There were 6,651 trades during this four-hour time frame. If you go back a few candles for instance, this small candle during this rangy market, you can see that there were only 7,092 trades on it. So by looking at the data box, you can know when the volume is coming in and when you have momentum to either the upside or the downside.

Now this is not the only cool thing about the data box. If you use indicators, the data box also will show you the exact readings of the indicator at the time you want. Now let’s add a couple of indicators to the chart. Let’s start by adding a 14-period RSI and then let’s add a 50-period simple moving average. Now we have both of these indicators on the chart. And as you can see, we are going to go to the same bar that we were analyzing before.

Now if you look closely at the simple moving average, at the time of this candle, the simple moving average was at 13.62. This means that the candle opened above the 50-period simple moving average and broke violently to the downside, meaning that this could be the end of a corrective move and the start of a continuation of a move to the downside. If you pinpoint, for example, the end of this move right about this low, you can see that at this point right here the RSI was in fact reading 9.51, which means that we were in very oversold territory, which gives you another information for you to start looking to close your short position or maybe star a long position.

data box shown in ninjatrader

But this is what the data box does. And the cool thing about the data box is, for example, let’s say that right now we want to look at the close of last Friday’s price action. So what we’re going to do, we’re going to go to last Friday, which was July the 10th right about here at the close. And the close is at this candle right here and you can see that the close of this candle was 07.44. So what we’re going to do is we’re going to grab a horizontal line and we are just going to go to the data section of the horizontal line’s properties, 07.44. And there you go. You have the closing price of last Friday. And as you can see right now, we are testing this closing price. This might be a good time to go long on the Euro/US Dollar given the fact that we have tested this area a couple of times.

So this is why it’s important for you to know how to work the data box, because the data box is going to give you more information than just looking at the charts themselves.


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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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