Chart Package for QQQ's

chamol -

FYI - QCharts can do tick and any integral minute bars (1, 2, 3, ...)

The timeframe drop down list has 1 and 5 minutes (since they're more common than 2, 3, or 4 minute charts), but all you have to do is type the # of minutes into the box and that's the timeframe of the chart you'll get.
 
chamol -

If you've got a QCharts trial going, you might also want to check out a trial of Trade Prospector. Their realtime program currently works with the QCharts datafeed but I like the charts better than those in QCharts because it automatically shows intraday support/resistance projections on the intraday charts and has some other technical, signaling, and confirmation studies that QCharts doesn't have. It also has what they call action maps so you can see a color coded maps of one or more sectors or your own customized list. TP also seems to be maintain better server connectivity.

The TP website is http://www.trade-prospector.com
Their nightly market update is usually worth a read - if you're registered they email it to you each night, but you can also get it at http://www.3mtinc.com/notes.htm
They're also usually pretty fast to respond if you email questions or suggestions.

Good luck.
 
Hi, ArchAngel

Thank you for tip to look at the TP website.

After reading through the site, I think TP looks very worthwhile as it is, not to speak of the products they list as in development. And I see they are full steam ahead on their own chart package, as this is the highest demand request they have from their clients.

I am certainly going to try it with my Q Charts package.

Any 'Heads Up' about integrating the two - I am curious how you set it up. I have 3 21" screens, of which IB fills the # 3 screen - screen numbering from the left - same as how airplane engines are numbered - 1 through 2/4 from the port or left side.

As you probably gathered, I trade only the QQQ's - not sure if you trade them or ? but interested in the studies you use if you do.

I currently use a 1 and 3/5/15 minute screen with stocs, MACD, and MA's. I usually have the variable time chart on the # 1 screen, and the 1 minute chart on the # 2 screen directly in front of me. Gives me a tick by tick presentation, and I like the larger screens better as I seem to need longer arms to read things.

Appreciate your help, thanks.
 
Hi, Lawrence

I spent a couple of full days with QQL, and liked it better than the IQ Charts package. I also tested the QChart package and found that the displays, information, scalability, and information that it provided suited my needs a bit better than QQL.

I did find the ability to present, through variable colors, on QQL was about as good as I have found. It provided a host of ranges so that I could really find tune it. Makes for an 'Easy on the Eyes' package, which is certainly worthwhile when one looks at the screen several hours a day, 5 days a week.

You should call QCharts and ask for a one or two day trial. Even though they say they don't give this, just talk to them. I found them very easy to work with, and exceptionally responsive and knowledgeable in set up.

Best regards
 
Hi chamol -

I use the end of day program's option analytics (the montage can use either the CBOE's realtime snapshot quotes (costs about $11/month) or the CBOE's free delayed quotes) and some of the scans/indicator panels to find potential plays. Although lately I've been primary focusing on swing trading index stocks like QQQ, BBH, and SMH - I'm also thinking of going to the index futures (higher leverage and more direct).

I use the realtime program with my QCharts feed instead of the Qcharts program - although you CAN use them both at the same time. The charts in TP will automatically show their projected support/resistance levels.

The volatility band study is useful - you can use it alone or with Bollinger Bands - I've seen a tendency for prices to breakout from the volatility bands and then keep moving either into a projected support/resistance level or the Bollinger Band - not 100% but what is?

I've also been using the program's buy/sell signal feature to construct an automatic buy/sell setup to use in conjunction with the SRs and other indicators. I've been monitoring the setup they use on the S&P futures (email them for a copy of the workspace) and it's worked pretty well, so I'm trying to tweak it for QQQ, etc.

They have what they call window clusters that let you create more than one chart and/or quote window and assign them to a cluster. If you then click on a symbol in a quote window or change the symbol in a chart, all the charts in that cluster automatically change. You can do that in QCharts, but it's clumsier.

You should have no trouble setting up your different timeframe charts with the stoch, MACD, and MAs. There's also what they call quicklist buttons that you can enable on charts. You can add multiple symbols and/or timeframes to the quicklists and switch between them by either selecting them from the quicklist symbol or timeframe menu or by clicking the buttons at the bottom of the chart.

To spread it across your screens is easy - just open the main window frame across the two screens and create/size/position your chart windows where you want them.

They've concentrated on the charting, studies, signals, action maps, etc. and haven't yet released their L2 and T&S components. So if you need those you can use just those in QCharts for the time being until they're made available in TP.

Be sure to read the release notes to see how each feature works. It's faster than just experimenting.
 
Chamol,

I'm, like you, mostly trading QQQ. I use TradeStation for their good charting features (3 minute is no problem) and CyberTrader for execution.

As a quite fresh trader when it comes to daytrading, I have much to learn and to perfection, and is always seeking new and better ways of visualizing what price and volume can tell me. Currently I mainly use RSI combined with candlesticks and pattern recognition for my trading.

I'm interested in trying Stochastics, but don't seem to find the good parameter values - do you have any tip on that? I'll also look into using Bollinger Bands as an alternative complement.

Greetings
Granville X
 
Hi, Try FibonacciTrader
(www.fibonaccitrader.com) I use it for 2 years now and do not want anything else.

Allows multiple time frames in 1 chart.

Also available full working one month trial.Dowmload from website. Great support and usergroup.

Also very good for futures.

Good luck
Rob
 
Hi, Granville X

Thanks for yours. I have gathered from my original question that some folks are interested in contributing to a 'Trading the QQQ's' thread, and I have promised to start one.

I am away for about a week, and when I come back I will do that. In the meantime, I use a combination of line charts, moving averages, and secondaries of both stochastics and MACD's.

I find the QQQ's to be less volatile than most equities, but still sufficiently so that a modest profit per share per day can be extracted in most cases. You will generally not 'Hit the Lottery' of having the benefit of a multi point move, at least not in recent times but you can look at it as more like a job, where a steady income can be derived, given that you handle yourself in a profitable way.

Caution, and passing on doubtfuls are important - remember - moves are just like trains - there is always another coming. Better to miss a good one than snag a few bad ones.

Well, signing off for now, but I will start the thread when I get back.

Best regards
 
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