Shark Indicators is a prominent player in the world of trading software, specializing in creating innovative tools and indicators tailored for the NinjaTrader platform. Their products, including BloodHound and BlackBird, have garnered both praise and criticism from traders. In this review, we will delve into the company’s product offerings, the strategies they support, developer reliability, the benefits they provide, and some key considerations for potential users.
Shark indicators Review
Shark Indicators primarily focuses on developing tools and indicators for the NinjaTrader platform. Their two flagship products, BloodHound and BlackBird, cater to traders seeking advanced solutions for strategy development and trade management.
Shark Indicators has established a reputation for delivering reliable trading tools over the years. Their focus on NinjaTrader, a trusted platform, adds to their credibility within the trading community.
A. BloodHound – The Trade Designer
BloodHound stands out as an exceptional tool for traders looking to craft and evaluate trading strategies visually. Key features include:
- Visual Strategy Building: BloodHound’s intuitive drag-and-drop interface empowers traders to create complex strategies graphically, eliminating the need for coding skills.
- Backtesting Capabilities: Comprehensive backtesting tools allow traders to fine-tune their strategies by analyzing historical data.
- Advanced Analytics: BloodHound provides valuable insights through metrics like trade expectancy, drawdown analysis, and historical performance statistics.
- Integration with NinjaTrader: Seamless integration ensures easy execution of trading signals generated by the strategies designed within BloodHound.
B. BlackBird – The Trade Manager:
BlackBird is another standout product designed to simplify the execution of trading strategies. Key features include:
- Automated Order Execution: BlackBird automates order placement, position management, and handling of multiple profit targets and stop-loss levels based on predefined rules.
- Trailing Stops: The tool excels in risk management with the ability to set trailing stops using various parameters.
- Multi-Strategy Support: For traders juggling multiple strategies, BlackBird offers a single dashboard for managing them efficiently.
- Real-time Monitoring: Users can stay updated on their positions without constant market monitoring.
Shark Indicators Benefits
Shark Indicators’ products offer several key benefits, as highlighted by user feedback:
- Time Savings: Automation of trading tasks frees up traders to focus on strategy development and analysis.
- Customization Options: Flexibility in tailoring strategies to specific needs caters to a wide range of trading styles.
- Enhanced Trade Management: Automation and precision in order execution and stop-loss management improve overall trade performance.
- Simplified Multistrategy Trading: Managing multiple trades becomes less complex with BlackBird’s consolidated dashboard.
- Real-time Monitoring Benefits: Users appreciate staying informed about position status without continuous manual oversight.
While Shark Indicators’ products have received positive feedback, there are some considerations for potential users:
- Learning Curve: Some users have found BloodHound’s visual strategy builder challenging, especially if they are new to trading or algorithmic strategy development.
- Pricing: The cost of Shark Indicators’ products may be relatively high for traders on a tight budget, although they do offer a free trial.
- Technical Support: Mixed experiences with customer support have been reported, with some users encountering delays or challenges in issue resolution.
Shark Indicators offers powerful trading tools that cater to the needs of both novice and experienced traders. Their products, BloodHound and BlackBird, have been praised for their time-saving automation and customization options, though users should be prepared for a potential learning curve and consider the pricing and support factors before making a decision.