In this lesson, we continue with the market strength indicator on NinjaTrader 8 and move to the world of stocks, but in addition, David has also added in the SPY and the XLK sector ETF, so it is a nice blend.
One point to note, which follows across all these market strength indicator lessons, is the multi-timeframe aspect, and just like our charts, here too, we use three timeframes to give us that all-important view across the time horizon. Remember, a trend starts in your fastest timeframe and then migrates through to your slowest if it is a strong trend, and this applies whether on a chart or an indicator. It is the same principle.
The stocks chosen here are Meta, Apple, Tesla, and Nvidia.