Thursday, 31 December 2009

Chart Settings & Chart Definitions

I am being continually asked about chart settings. And although they are all in the posts and comments, I'm setting them out here as a Key Post to have them all in the one place:

Market Profile is the out of the box 30 minute sampling and I watch both 24 hour and RTH, splitting the Profiles into the relevant distributions.

The Range Bar Chart:
ES: 1.25 range, ET: 10 point range
Keltner Channel 30/3
EMAs: 33 and 99
CCIs: 45 and 6 superimposed
Volume Breakdown out of the box
Cumulative Volume Delta: Volume Breakdown cumulative back about 21 days (not critical, any larger number OK) but Averaged by 9 bars
MomDots:((HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;


CHART DEFINITIONS
Click on the links below

Range Bar Charts for MD or IRT
MP Charts
Otherwise, Kiki and I wish everyone

Happy New Year
Posted by at

19 comments:

  1. Bigsnack1 January 2010 at 00:58

    Happy New Year! What a great blog, thanks for all of the insight and information. Just by looking at your charts, I feel like I am starting to get an idea of exactly what triggers your entries, and at least your first exit. I'm having trouble getting WCCI to show up when I set my Periodicity to the 1.25 range in MarketDelta. It shows up fine when I select any other tick or time based option, but for some reason WCCI is blank when I switch to range bars. Have you had any issues with that? If not I will keep exploring the software and see what I can do. Thanks and take care!

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  2. leontancfa1 January 2010 at 13:12

    could you also tell me what trading soft you are using? Thanks.

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  3. Electronic Local1 January 2010 at 16:35

    leontabcfa, I'm a happy user of MarketDelta
    Bigsnack, thanks. I have had no issues at all with the WCCI. I have disabled all the bells and whistles (along the zero, 100 & 200 lines)which are of no use to me. The people at MD give top notch support and I'm sure they can sort it out for you.

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  4. Donald3 January 2010 at 03:38

    Hello EL,
    Just found this blog and enjoy your posts... What is it you like about 33/99 EMA's?

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  5. Electronic Local3 January 2010 at 07:17

    Donald, they show the trend and how it's changing. The 33 is also the centre of value at that moment (not in the MP sense).

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  6. Anonymous6 January 2010 at 22:31

    Electronic,
    This is an awesome blog!
    In your ealier posts you showed NT charts. Where can I get the volume studies for NT?

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  7. Electronic Local7 January 2010 at 05:49

    Anon, NT does not save bid and ask volume data so the volume studies in the users forum only work in real time - cannot load historical data. If you change a chart you lose the volume data. I used uptick and downtick in MultiCharts as a proxy but the MarketDelta studies work better for me and its all in one application.

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  8. Anonymous11 January 2010 at 13:07

    Hi EL,

    I like your blog very much and am looking forward to webinar this Saturday.
    If you don't mind, could you explain your MOM dots and WCCI, please:
    I tried your formula for MOM with MD software and it did't work.
    What is WCCI? Why "W"?
    Thank you in advance for your help.

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  9. maddog14 January 2010 at 07:34

    Hi....i was wondering about if you calculate your Momo dots starting 1 bar ago or 2 bars ago......i am not sure what is the naming convention in MD, so does HI.2 = 2 bars ago and current bar is 0 or HI.2 = 1 bar ago because current bar is 1......thanks

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  10. Richard19 January 2010 at 13:38

    Hi Tom,

    I guess related to Maddog's question above, I noticed that the post you made at the end of last year, has a slightly different forumula in it for the MomDots than the answer you posted on Dec 7th to Rino. The reply to Rino say's "the easy language forumula I use..." and appears to have reference to 1,2 and 3 days ago logic. However the post on Dec 31st references, 2,3 and 4 in the formula. Is this because the Easy Language requires different Syntax than perhaps Market Delta? I am still hunting around for the TradeStation equivalent to your Indicators, not that this is the Holy Grail, because we know it's not, but I want to be able to follow along on my charts what your trained eyes are seeing. Any help you can provide on this definition of the MomDots and the spot where I might locate all these codes for TradeStation, is deeply appreciated. Thanks again.

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  11. Anonymous4 February 2010 at 01:29

    Hello EL and Kiki,

    I can only echo others on how great and truly valuable is this blog. Thank you.
    Regarding Andy's Ninja template, I wasn't able to make it into an indicator. Is there a way to contact or be contacted by him to clarify how I could incorporate into my NT6.5 charts. my email is nzfaria1@yahoo.com. Maybe he can post some instructions here as well.
    Thank you.

    Nicolas Faria

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  12. Anonymous5 February 2010 at 11:55

    Please note I've developed a recording VB indicator using a file to store bid/ask information. It's called GomCD

    main thread :
    http://www.ninjatrader-support2.com/vb/showthread.php?t=23283

    post with indicators :
    http://www.ninjatrader-support2.com/vb/showpost.php?p=130804&postcount=1

    There are also lots of delta/vb indicators in bigmiketrading forum, in Elite downloads.

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  13. Electronic Local5 February 2010 at 12:13

    Thanks Gom. It's a shame that NinjaT can't take the information out of historical data. I don't really understand why. I travel a lot and could not exist without a backfill capability.

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  14. Glems11121 February 2010 at 18:36

    I was just wondering regading your set-ups and trading methods. I trade the crude oil market as well as es and like to know if you feel that order flow and setups would work with the crude oil market and other commdotie markets

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  15. Anonymous27 April 2010 at 00:15

    Just tried to import indicators into Multicharts 6 beta and got an function error code 1. Any help would be greatly appreciated.

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  16. Anonymous21 June 2010 at 08:13

    El, I'm glad I stumbled onto your blog. You are mentoring not only your daughter but also a lot of traders who want to get to a better place, I'm sure.

    I have a query regarding the chart settings... I infer that you use a 1.25 point i.e. 5 tick bar for ES. But in your webinar you speak about a 9 tick bar... Will appreaciate anybody here clarifying this please.
    - Ritwik

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  17. Electronic Local21 June 2010 at 08:43

    ES is 5 ticks (1.25 points), for Euro FX (6E) I use 5 or 9 points (0.0005/ 0.0009) depending on volatility

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  18. Toaksie12 June 2011 at 16:38

    What settings would be best for the range bar charts when trading the FESX?

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  19. Anonymous10 December 2011 at 22:06

    I tried to import the mom dots into TS but it states file no longer available. Is there an equivalant to mom dots in TS? I'm not sure what mom dots are. What range chart would you use on the YM(mini dow)? Thanks for your daily blog.

    Stan

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