Saturday, 5 December 2009

From Monday

I just finished setting up my charts in MarketDelta.  It was really quite easy.  I even did a little programming using their RTL with no problems, and I'm not a programmer by any means.

So from Monday, the charts will be Marketdelta. They are easier to print out as they have a white background.

Also,Kiki has twitterised me and she will tweet when the blog has been updated or there is some time sensitive information I want to pass along . You can follow me as electroniclocal. 

This is how I used to tweet in the 60's: tweet.


  1. Hello Boss,

    As of 11:44 Chicago time (Down the street from CBOT if you want me to say hi to someone, Lol) there is no Electroniclocal on Twitter. Maybe because you have not Tweeted yet, so how about a test tweet?

    Not sure how many you have following now, but don't be surprised by how many in the near future.

    Your Student (not really young, but always learning)


  2. Tom,

    after you did the programming I have two questions in terms of the momentum dots and the cummulative volume indicator.

    What are the dots based on? Is it a moving average as well?

    How do you smooth out the bid ask volume on the CDV indicator. I'm rebuilding the indicators at the moment in Ensign, which works quite well (I'm also far away from being a programmer), but these are a bit tougher to create. I tried to smooth out the volume with 100 or 200 MAs but the result is quite different.

    Of course everybody has to tweak everything on his own to make it ones setup, but I would like to start somewhere and your setup looks very balanced.

    Thanks and have a great weekend.

  3. Rino, Kiki has tweeted. Have a look here:
    I love Chicago. Lived there for a year. I'm married to an American.

    timokrates, its not the total volume I use but the volume at bid versus ask and then I add it during the day and smooth it. The smoothing is important for me. The unsmoothed is called Cumulative Volume Delta. Have a look for it on MarketDelta's site. Not sure how you can do it in Ensign and also your data feed needs to provide bid ask volume I think.

  4. Are you planning to completely switch over to MarketDelta? How do you smooth the volume delta? It is a moving average or some other calculation? Perhaps you can describe it or post a formula, if it can be shared...

  5. Could you please be more specific about the displaced MA? A 20 minute?



  6. Captain,

    When using range bars one has a choice of interval. (1 tick, 1 minute, 5 minute, etc)
    may I ask what you prefer?



  7. Tom, it would be great if you could explain a bit how you exit trades. You mentioned that you have your first scale out at a certain number auf ticks (10 for the FESX and 2 points for the ES). But do you have special rules how you exit the other portions. For example a recross of the CCI or a bar close against the direction of the trade.

    In general you mentioned S/R levels where you take out contracts, but do you wait for a kind of confirmation here before you exits parts or the whole position?

    Of course I know that you observe the order flow, but I'm just curious if you have "fixed" rules in your plan in terms of scale outs.

    Thanks a lot!

  8. Tom (and Kiki) THANK YOU

  9. Rino, range bars are not time or tick linked. see this link:
    The MomDot is based on Drummond's work and the easylanguage formula I use is:
    DrumDot = ((H[2]+L[2]+C[2])/3 + (H[1]+L[1]+C[1])/3 + (H[3]+L[3]+C[3])/3)/3;
    timokrates, I scale out at logical MP s&r that are far enough apart BUT I always exit when order flow and momentum tell me to. Art not science. My exits are often too early as you can see.

  10. Hello Boss,

    Sorry do not want to be a bother. TradeStation does give you a choice on what time or tick Interval to use with the range bars.
    When I use them with a 1 minute it does look a little different then a 5 minute. Naturally the bars will still have the designated range for each bar, such as 1.25, but with the 5 minute there is less bars.



  11. Rino, I haven;t used TS for years - they didn't have range bars then. It looks like the minutes are a data sampling parameter. Is there a 1 tick setting? I would use the shortest time I could otherwise the range won't be constructed properly. The 5 minute sampling has fewer bars because you are filtering out data. If 1 tick is too much for your pc, try using, say, 50 contracts/shares/volume or something like that. You need the rawest data to catch not only the range but the correct volume info,