Using ELWAVE with NinjaTrader Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 1- Using ELWAVE with NinjaTrader TRADEMARK USAGE NinjaTrader®, NinjaScript® are trademarks of Ninja Trader LLC All trademarks in this document are used solely to refer to the respective products or technologies provided by their respective owner. DISCLAIMER The Customer acknowledges and agrees that neither Prognosis Software Development (Owner), nor its employees, make any representation or guarantee regarding how this product may perform now or in the future, nor will this product guarantee profits for the Customer. The Customer is advised to test the software thoroughly before relying upon it. The user accepts to assume the entire risk of using the software. In no event shall Owner be responsible for any special, consequential, actual or other damages, regardless of type, and any loss or lost profit resulting from the use of this software or printed material. Customer acknowledges that success depends upon Customer’s ability to utilize the information, software and techniques described in this product. Customer’s payment, returning of the registration card or signature shall be evidence of Customer's acceptance of all of the License agreement. The software is for personal use only, therefore Customer is prohibited to distribute analysis results of ELWAVE in any way without prior consent of Owner of the software COPYRIGHT Copyright © 1996-2011 Prognosis Software Development. P.O. Box 2944 2601 CX Delft Netherlands This manual is copyrighted. No part of this manual may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Prognosis Software Development. Every effort has been made to ensure complete and accurate information concerning the material presented in this manual. However, Prognosis Software Development can Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 2- Using ELWAVE with NinjaTrader neither guarantee nor be held legally responsible for any mistakes in printing or faulty instructions contained in this book. Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 3- Using ELWAVE with NinjaTrader CONTENT TRADEMARK USAGE ................................................................................................... 2 Disclaimer....................................................................................................................... 2 Copyright ........................................................................................................................ 2 CONTENT ...................................................................................................................... 4 1 Introduction.................................................................................................................. 5 1.1 General ................................................................................................................. 5 1.2. Installation............................................................................................................ 5 1.3 Activation .............................................................................................................. 8 2 Using ELWAVE with Ninjatrader ............................................................................... 12 2.1 Adding the ELWAVE NinjaScript indicator.......................................................... 12 2.2 Inputs (parameters) ............................................................................................ 15 2.3 Additional settings............................................................................................... 15 2.4 Remove indicator................................................................................................ 15 3 Additional resources.................................................................................................. 16 Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 4- Using ELWAVE with NinjaTrader 1 INTRODUCTION 1.1 General ELWAVE by Prognosis Software Development, has been specially designed for traders in order to apply the "Elliott Wave Principle" to their trading. The Elliott Wave Principle generally is regarded as the most successful forecasting method ever discovered, but difficult to apply because of its complexity. ELWAVE is the only software that has managed to make Elliott Wave useful in practice without simplifying the technique itself. Instead, it faithfully captures all nuances and signals and present them in a way that is easy to comprehend. ELWAVE can be used with many different file formats and if your ELWAVE license includes the UDS ServerFeed you can also use it with data from your NinjaTrader software. This version of ELWAVE was designed to work with NinjaTrader 7. It may or may not work with older or newer versions of NinjaTrader. Again, to use this version of ELWAVE with NinjaTrader you need a license for the UDS ServerFeed module. 1.2. Installation In order to use ELWAVE with NinjaTrader the NinjaScript archive ELWAVE_NinjaTrader_plugin.zip must be imported into your NinjaTrader environment. When you install ELWAVE, the ELWAVE Setup Wizard will copy this file to Program Files\Common Files\PrognosisUDS. If ELWAVE was able to detect the presence of NinjaTrader on your system it the NinjaScript archive will also be copied to My Documents\NinjaTrader 7\bin\Custom. After the ELWAVE installation has completed start NinjaTrader. In NinjaTrader's Control Center select File|Utilities|Import NinjaScript... as shown below: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 5- Using ELWAVE with NinjaTrader This will bring up the Import NinjaScript Archive File (.zip) window as shown below: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 6- Using ELWAVE with NinjaTrader If the ELWAVE_NinjaTrader_plugin.zip file is not present click the « in the folder to navigate to the folder Program Files\Common Files\PrognosisUDS. Here you should find the ELWAVE_NinjaTrader_plugin.zip file as shown below: Once you have selected ELWAVE_NinjaTrader_plugin.zip click the Open button to import the script into NinjaTrader. If you get any warnings about files already existing on your PC click Yes if you want to install anexisting script with the one you are trying to install now. Click No or Cancel if you want to keep using the script already installed. if you choose to overwrite an existing installation you may need to shut down and restart NinjaTrader for the change to take effect. If the import procedure is succesfull you should get the following confirmation message: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 7- Using ELWAVE with NinjaTrader You are now ready to activate ELWAVE and start using it with NinjaTrader. If you have already activated ELWAVE you may skip to chapter 2 Using ELWAVE with TradeStation12. 1.3 Activation After installation your copy of ELWAVE needs to be activated before it can be used. You can do this either by start ELWAVE manually by selecting Start|(All) Programs|ELWAVE 9.5|ELWAVE or |All Programs|ELWAVE 9.5|ELWAVE or by double clicking the ELWAVE icon on your Desktop. Alternatively you can simply wait for the activation box to come up when you attach the ELWAVE NinjaScript to one of your NinjaTrader charts. Regardless of how you get here, the activation procedure is as follows. First you will be asked to enter your serial number: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 8- Using ELWAVE with NinjaTrader Enter your serial number in the Serial number field as shown and click Next. This will take you the next page: Here you can select between the two available licensing options. Simply put, Fixed is best if you are going to use ELWAVE on one computer only. If you intent to use ELWAVE on more than one computer, be sure to select Floating on all computers on which you install ELWAVE. For more information please read the article How our online activation system works on our website. After selecting your licensing method click Next > to take you to the final step: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 9- Using ELWAVE with NinjaTrader Here you have the option to indicate that you are behind a corporate firewall that does not allow access to our license server from ELWAVE. This is rather uncommon so normally you should leave this checkbox empty and click Finish to start the actual activation procedure. If an Internet connection is available the following message should appear in just a few seconds: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 10- Using ELWAVE with NinjaTrader ELWAVE is now ready for use. If you start ELWAVE through the Window Start menu it will now open. However to use ELWAVE with your NinjaTrader data you must use ELWAVE through the ELWAVE NinjaScript indicator that you imported into your NinjaTrader environment. You will learn how to do this in the next chapter. Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 11- Using ELWAVE with NinjaTrader 2 USING ELWAVE WITH NINJATRADER 2.1 Adding the ELWAVE NinjaScript indicator If you have succesfully installed and activated ELWAVE and the ELWAVE NinjaScript Indicator (see previous chapter), you are now ready to use the Elliott Wave analysis featurres offered by ELWAVE. First you need to open a chart in NinjaTrader. Then either click the button on the chart's toolbar or right-click on the chart and select Indicators... from the popup menu as shown below: . This will bring up the Indicators window. Use the scrollbar to scroll down to where the ELWAVE indicator is displayed as shown below: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 12- Using ELWAVE with NinjaTrader You can either click the New button or double click ELWAVE to add the indicator to the chart. After you do this it should appear on the bottom halve of the Indicator list as shown below: Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 13- Using ELWAVE with NinjaTrader At this point you can configure the ELWAVE indicator by changing it's properties as shown on the right. There's nothing of interest to configure really except for the AutoClose parameter. By settings this to True you can cause ELWAVE to automatically close a chart that you have open in it if the corresponding chart in NinjaTrader is closed. This is a matter of personal preference and you may want to try out both settings. If the chart is left open ELWAVE will attempt to keep updating it in real-time by checking if another chart with the same symbol is open in NinjaTrader which also has the ELWAVE indicator attached to it. If ELWAVE is unable to obtain real-time data an clear alert will be shown in ELWAVE to inform you of this. You can now click OK to add the ELWAVE indicator to your NinjaTrader chart. In NinjaTrader itself the only visible result will be the name of the ELWAVE indicator being shown in the upper left corner of your chart. You will also notice that the actual ELWAVE application is started automatically with a chart open that is linked to your NinjaTrader chart: it has the exact same historical price data as your NinjaTrader chart and this chart will be updated in real-time if your NinjaTrader software is connected to a real-time feed for this symbol. Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 14- Using ELWAVE with NinjaTrader Depdending on ELWAVE's configuration and your ELWAVE license details the chart will be analyzed automatically or you may be asked if you want it to be analyzed. After the analysis has completed the usual ELWAVE analysis results will be shown: a completely labeled chart, automatically placed trend lines, red/yellow Target Clusters. In addition the Summary Inspector will show a tabular summary of the analysis results on multiple time frames. Again, the exact scope of analysis results depends on your ELWAVE license details. 2.2 Inputs (parameters) There's nothing to configure from within NinjaTrader except for the AutoClose parameter. By settings this to True you can cause ELWAVE to automatically close a chart that you have open in it if the corresponding chart in NinjaTrader is closed. This is a matter of personal preference and you may want to try out both settings. 2.3 Additional settings There are several other settings that affect how ELWAVE analyzes your charts. These can be viewed and changed by starting ELWAVE itself and selecting Options|Analysis… from the ELWAVE menu bar. For more information about this we refer you to the ELWAVE User’s Manual which can be accessed through Start|(All) Programs|ELWAVE 9.5 or through the ELWAVE Help menu. 2.4 Remove indicator If you wish to remove the ELWAVE indicator from your NinjaTrader, simply right-click on your charts background (be careful not to click on the bar chart or candlesticks) and select Indicators... from the popup menu. Alternatively you may click the button on the chart's toolbar. This should bring up the same window as shown on page 14. Highlight the ELWAVE indicator in the bottom halve of the indicators list and click on Remove to have it removed from your chart. When removing an ELWAVE indicator, the corresponding chart in ELWAVE will not be closed unless you have set AutoClose to True. Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 15- Using ELWAVE with NinjaTrader 3 ADDITIONAL RESOURCES To learn more about using ELWAVE and how to get the best out of your ELWAVE software license, be sure to check out the Getting Started, Advanced Topics and Elliott Wave Theory documents which you will find under the ELWAVE Help menu or under Start|(All) Programs|ELWAVE 9.5. Also be sure to check our website as additional resources may become available such as video tutorials. Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 16- Using ELWAVE with NinjaTrader INDEX Activation........................................................................................................................ 8 ELWAVE ........................................................................................................................ 5 ELWAVE_NinjaTrader_plugin.zip ........................................................................... 5, 7 Fixed activation..................................................................................................................... 9 Floating activation..................................................................................................................... 9 Remove ....................................................................................................................... 15 serial number.................................................................................................................. 8 Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 17- Using ELWAVE with NinjaTrader Prognosis Software Development, phone: +31 (15) 2123543, email: info@prognosis.nl - 18-