Weekly MGI Overview
Market Generated Information (MGI) is a collection of objective data derived from the market’s past behavior. This data is used to analyze market structure and context, identifying significant areas of price action that could potentially serve as Support and Resistance in the near future.
The Weekly MGI indicator automates the identification and plotting of these structural market levels that are derived from market activity that took place during current and prior weeks.
Weekly MGI Indicator Highlights
This indicator is included in our MGI Package.
- Comprehensive list of commonly used weekly MGI values including price-based and Orderflow levels such as Value Area and VWAP
- Range Highlighting and Range Extensions for many values
- Inline Tooltips on Indicator Properties menu
- Streamlined User Interface that only shows inputs relevant to current selections
- Multiple fully customizable plot styles including regular plots and edge plots
- Enhanced Plots menus allow customization of every aspect of plots including plot names and ability to conveniently turn plots on/off individually
- Highly customizable and easy to use
- Does not require NinjaTrader’s Lifetime license
- Does not require Tick Replay
Information offered by Weekly MGI
- Weekly Initial Balance view chart
- Current Week Range view chart
- Current Week Value Area view chart
- Prior Week Range view chart
- Prior Week Value Area view chart
- Weekly VWAP view chart
