Introduction

Deep Signal Cobra is an advanced trend reversal detection indicator for NinjaTrader 8.x, 64 bit. Its numeric oscillator swings above and below zero—positive values favor a long reversal, negative values favor a short reversal. The greater the value (in either direction), the stronger the potential turn.

Smart, on-chart controls. Cobra ships with intuitive thresholds: +10 for long setups and –10 for short. Adjust in seconds:

• Use the Properties dialog, or
• Tap the on-chart controls: L++ / L-- to tune long, S++ / S-- to tune short.

Trade the confirmation, not the guess. Cobra encourages disciplined entries: wait for an opposite-colored candle to confirm the reversal before acting.

As an example below, just before 9:55, Cobra flips yellow → red as it drops below the –10 short threshold. Wait for the first red candle to confirm—then strike.

This is the same timeframe and instrument but using a 2 minute chart. Using the same process as Deep Signal Renko we wait for the Red Candlestick confirmation at around 9:45 and then we strike!

Here is the same chart using 1 minute Heiken-Ashi bars. Please note, although the Cobra points drifted into our short threshold we wait until there is a confirmed red candlestick before entering a short trade.

Here are some examples of long trades. The chart below uses Deep Signal Renko with ES and a 12 tick bricksize. We wait for the green candle at 7:03 before getting a long trade entry confirmation.

Here is the same chart using 1 minute Heiken-Ashi bars. Please note on this chart there were a few false signals as well. Please be sure to review the chart and see if the Cobra signals match up. If there are many false signals then choose a new timeframe or bar type. You may need to look at several different bar types and time frames to find one that matches your instrument.

No Confirmation on Trade Signal        

If we get a trade signal where there is no confirmation, then it's a signal for the trend to continue. In the picture below, we get a long trade signal around 12:43, however since there is no green candlestick (long trade entry confirmation) after the signal then this shows a continuation of the trend. 

Futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.