Daytrading Charts: How to Set them Up

[KCalhoun]

For stock and ETFs, here's my setup; feel free to ask questions.

The main feature is the large 2-day 1 minute candle chart:

Tip: see how all charts show at least 2 hours of premkt price action? That's very useful, to follow gap movers before 9:30am.

Also in lower right corner is a closeup SPY chart showing most recent 4 1minute candles. It does a great job of showing immediate current market direction.

 

[Trader200K]

Today was relatively choppy generally sideways.

What is your criteria, indicator, multi-timeframe, etc that needs to be above some level before things get interesting enough for you to put a trade on?

With inverses it’s pretty easy to find something moving up, but many time the too just go quiet. Under what conditions would you just stay on the side?

 

[KCalhoun]

Today was relatively choppy generally sideways.

What is your criteria, indicator, multi-timeframe, etc that needs to be above some level before things get interesting enough for you to put a trade on?

With inverses it’s pretty easy to find something moving up, but many time the too just go quiet. Under what conditions would you just stay on the side?

Great question; right re chop.

Top criteria is always "is the S&P (or stock/etf) taking out a 2day high by 10AM?". Also I pay very close attention to the TRIN. Lots more to it.

 

[Tradex]

Top criteria is always "is the S&P (or stock/etf) taking out a 2day high by 10AM?".

Momentum is indeed a very important criteria!

I always suggest adding (or experimenting with) the fantastic VWAP indicator, a very useful filter for any trend-following and/or breakout strategy.
(Those interested can find more info here: https://www.investopedia.com/terms/v/vwap.asp )

Thanks again for sharing.