Tuesday, 19 January 2010

Thank you Mike

TradeStation from Mike and Multichart from EL.  The indicators for these platforms have been added under Key Posts & Information.


  1. I've just started reading your blog, and I must say I'm very impressed with both your understanding of the markets, as well as your simplicity in explaining these to people in a way everyone can understand.

    I use CQG for charting, and was wondering if you or any of your followers would be able to post your indicators that would translate on CQG's platform. Thanks in advance, and please keep up the good work,

    - Alex, NY

  2. Hello Boss,

    You make me want to be a better man. I think I heard that from a movie, but
    it is true none the less. Excuse me a second I need to ask Mike a question.

    Hello Mike,

    If good Karma is rewarded to those who invoke unselfish deeds, you will enjoy much peace
    and prosperity.

    Are you able to use the VB with TS Range bars? If you are using Range bars,
    may I ask what you have set for the time or tick option they give you? I think
    the Momentum bars are closer to what others have as Range bars. However,
    I can not get the VB to work with that either.

    Thank you both so much,


  3. Hello Boss and Mike,

    This is a follow up to my last post. I
    discovered that you have to make sure that
    you choose 1 tick for the Range bars.

    Also, TS has Momentum bars as well as Range bars. The difference between their Range and Momentum bars, is that the Range bar will create a new bar when it gets to the 1.25, where as the Mo bars will not create a bar until it gets to 1.5, like MP's Range bars.

    Mike, did you notice the Momo dots in TS look different then they do with MP? (Too close to bar)



  4. Okay last one I promise:

    Should be for Momdots (HI.4+LO.4+CL.4) instead of (H[1]+L[1]+C[1])




  5. Thank you Tom and Mike for providing the Indicators for TradeStation. I plan to load them tonight, and I am sure I may have a question or two as I create my charts to follow along with the trades both you and Kiki take Tom. Thank you very much again.


  6. Rino (and others), for MomDot discussion see:


    The Drummond Geometry people call these "PLdots".

    The PLdot from the last three bars is plotted as a dot or line on the next bar (shifted into the future by one bar) and this calculation can be accomplished in different ways.

    Calculate the “typical price,” which is the sum of the high, low, and closing prices, divided by three, for each of the last 3 bars, then apply the average of these to the current bar.

    Or you can use the same calculation for the current and last two bars and apply a 1 period SMA that you shift 1 bar to the right in it's setting.

    In Market Delta I just use the predefined token for "typical price" and apply a 3 period SMA which I shift 1 bar to the right.

    Hope this helps,

  7. Rino,

    Good catch on the MomDot. I'll make the change and create a new ELD and send to EL so that he can swith the old for the new.

    Glad you figured out the 1 tick setting for the range bars. That tripped me up for a while as well until I experimented with the various settings. Also, I'm going to switch to Momentum bars in TS. I've been wondering why their range bars worked different than MarketDelta and I didn't realize they had the Momentum bar feature.

    Karma is working for sure...you started out with questions but ended up helping me get squared away. Thanks!


  8. Rino, you're a Jack Nicholson fan too (You make me want to be a better man) :-) That was a great movie.