In this article you will learn how to set up the Menthor Q Levels Indicator for NinjaTrader.
What is NinjaTrader?
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Indicator Features
Within the NinjaTrader Indicator you have the following features:
- Integration via API
- Full Customization of Levels Plots and Labels
- Daily Levels + Historical Levels
- Access Multiple Levels Type:
- Gamma Levels
- Gamma Levels Intraday
- Gamma Scalping
- Gamma Scalping Intraday
- Blind Spots
- Swing Levels
- Real Time Alerts
- Trading Roadmap
- Levels Conversion. You can convert all Levels Type from one asset to the other using Auto or Manual Ratio
How to set up the Menthor Q Levels Indicator for NinjaTrader
Check out our Tutorial Video on how to set up your NinjaTrader Indicator.
Step 1. Join our Membership and Download the Indicator
The indicator is available for Premium and Pro Members. Once you sign up you will find the download link in the Integration Section of your Account Dashboard.
Step 2. Send Menthor Q your Maching ID to enable your access.
Once you sign up for Premium and downloaded the indicator, fill in this form and share your Machine ID with the Menthor Q Team. It could take up to 24 hours to get activated.
We will need your Machine ID to be able to enable your access. You can find your new Machine ID by navigating to the: Help > About window in NinjaTrader Desktop’s Control Center.
Step 3. Access the Daily Levels via API
The NinjaTrader Indicator allows you to leverage our API to update the levels. You can find the API Key within the Ninja Integration menu.
Step 4. Install the indicator in NinjaTrader
Next you will need to install the indicator into NinjaTrader. Please install the new version by selecting Tools > Import > NinjaScript Add-on and overwrite any files if prompted.
Step 5. Choose the Menthor Q Levels indicator and add to your chart.
Now that the install is complete you will be able to find the Menthor Q Levels indicator within your indicators. Add to the chart.
Step 6. Update via API
Paste the API Key to connect and update the levels. You can find the API Key within the MenthorQ Dashboard.
Indicator Settings
You can then customize your Indicator Settings. Here you will be able to choose the colors of the lines, select the levels you want to plot or hide and choose if you want to plot the levels value to the chart. Then click ok and you will be active into NinjaTrader.
Daily vs Historical Mode
Within the Indicator you can access Current Levels or Historical Levels.
- The Daily Mode will plot the latest levels available for the asset
- The Historical Model will plot the last 30 days of levels for the asset
You can also customize the Historical mode using the dedicated settings.
Once historical mode is selected you will be able to go back in time and replay how the levels played out.
Gamma Levels Settings
In this section you can customize the Gamma Levels Settings and what levels to show. You can select All Levels, None or Selected Levels. You can then choose the background, opacity, offset and width. By selecting show price the price will be shown next to the level.
Within the Gamma Levels Section you can select the Gamma Model:
We have two models: Gamma Levels and Gamma Scalping.
- Gamma Levels is our core gamma exposure model — the foundation of our options-based trading framework. It’s available in both End of Day (EOD) and Intraday versions, and it’s the same model displayed in our TradingView Indicator.
- Gamma Scalping is a specialized version of our gamma model, also offered in EOD and Intraday formats. While the Primary Levels remain the same as in Gamma Levels, this model applies a narrower calculation range when ranking the top 10 Gamma Exposure (GEX) levels. This narrower focus means the GEX 1–10 levels can differ from the main model — creating a denser cluster of actionable support/resistance zones.
For Futures, both Gamma Levels and Gamma Scalping are provided in End of Day (EOD) format, while for Stocks, ETFs, and Indices, we offer Intraday versions that update continuously during market hours. Futures traders who want intraday levels can reference the corresponding ETF or index and convert those levels to the relevant futures contract.
You can then customize each of the level color, type and decide if you want to show the level.
Save Template
The indicator allows user to save their template. Once you customize your indicator once you can apply the settings to each chart.
- To save the template right click and select Template – Save As
- To load a template right click and select Template – Load
Blind Spots Levels Settings
Within the Indicator you can plot Blind Spots Levels and define the BL Levels settings.
Swing Levels Settings
The indicator also allows to show Swing Levels. Swing Levels are available for Stocks, ETFs and Indices. For Futures you would need to convert the levels to the future. For example you can convert SPX Swing Levels to ES or QQQ Swing Levels to NQ.
Converted Levels Settings
Levels conversion helps traders overlay price levels from indices like SPX, QQQ, and NDX onto futures charts (ES, NQ, etc.). Since futures and spot prices differ, adjustments using a spread or ratio ensure accuracy. Futures prices trade at a spread or ratio to their respective indices. Without conversion, levels will be misaligned due to price differences.
Check out the Levels Conversion Video Tutorial:
These are some of the common Levels Conversions:
- SPX Gamma Levels to ES
- SPY Gamma Levels to ES
- QQQ Gamma Levels to NQ
- NDX Gamma Levels to NQ
- SPX Intraday Gamma Levels to ES
- QQQ Intraday Gamma Levels to NQ
- SPX Swing Trading Levels to ES
- QQQ Swing Trading Levels to NQ
- GLD Levels to GC
- DIA Levels to YM
- USO Levels to CL
- NVDA and MAG7 Levels to QQQ
Within the Indicator you can customize the color of the lines and background.
To convert levels type the ticker in the From box, select the ticker you are looking to convert in the To box and select the ratio type: auto and manual. Check our Levels Conversion Guide for more info.
Here is the difference:
- Manual Ratio. The user manually calculates the ratio and updates the value.
- Auto Ratio. The indicator automatically calculates the spread/ratio based on the previous day’s closing price and applies it to today’s levels.
Note: To run an Auto Ratio conversion, the indicator needs access to both the price of the underlying Index or ETF and the Futures contract you want to convert to. If one of these price feeds is missing because the platform requires (and you don’t have) a data feed subscription, the indicator won’t be able to complete the calculation and will return an error. You might need to subscribe to a data feed to run the auto ratio. If you do not wish to subscribe to an additional feed then you can use the manual ratio.
Trading Roadmap
The Trading Roadmap within the MenthorQ indicator serves as a structured guide or “GPS” for traders to navigate short- to medium-term market movements.
Its purpose is to transform uncertainty into a clear plan by highlighting statistically significant price levels, forecasting how the market has behaved around these levels historically, and suggesting what types of strategies might align with the expected price range.
Enable Roadmap
Turns the roadmap feature on or off. When enabled, it overlays roadmap boxes on your chart.
Roadmap Input
Defines how the width of the roadmap boxes is calculated. You can choose between Ratio (proportional to price) or Points (absolute value).
Roadmap Value
The key setting that controls how wide each roadmap box will be.
- If set to Ratio, the width is scaled relative to price movements. For example:
- A ratio of 2 or 3 can be used when trading ES (S&P futures) or NQ (Nasdaq futures) to make boxes wide enough to capture meaningful swings.
- If set to Points, the width is measured directly in points. For example, setting it to 10 would make each box 10 points wide.
Roadmap Color
The color of the roadmap boxes (here shown as Yellow).
Roadmap Opacity
Controls transparency of the roadmap boxes (50 = half transparent).
Hide Levels
When checked, it hides the internal levels/lines inside the roadmap boxes for a cleaner chart.
- Ratio is adaptive — it scales with the instrument’s price level and volatility. Best when you want the roadmap to automatically adjust across assets.
- Points is fixed — good when you want a consistent, absolute box size regardless of price scale.
Real Time Alerts
You can also enable Real Time Alerts based on the levels selected within the indactor.
Play Sound
When checked, an audible alert will trigger. You can select the specific sound file from the dropdown.
Sound
Lets you choose which sound file (e.g., Alert4.wav) will play when the alert condition is met.
Send to Alert Window
When enabled, the alert will also appear in the platform’s dedicated alert window for quick reference.
Send to Email
Allows alerts to be sent to your email. You’ll need to specify the email address in the field below.
Email
Field to enter the email address where alerts should be delivered.
Reactivate Alerts after (mins)
Controls how often the alert can be re-triggered. For example, if set to 1 minute, the same condition won’t trigger another alert until at least 1 minute has passed.
