Indicators are liars! Support and Resistance Trading for the S&P emini

[pismo10]

We're in the 6th os right now on the 16k chart. Still going up for now. Wild day...

 

[pismo10]

PL,

What do you use the wavy blue/red line below the histogram for? What is it?

Thanks

 

[ProfLogic]

Quote from pismo10:

PL,

What do you use the wavy blue/red line below the histogram for? What is it?

Thanks

The histogram is the confirmation of the immediate direction of price and the wavy blue/red line below the histogram is the Ergodic. I only use it to define the Trend. I only use Trend to show me the overall strength of THAT particular chart.

 

[pismo10]

Quote from ProfLogic:

The histogram is the confirmation of the immediate direction of price and the wavy blue/red line below the histogram is the Ergodic. I only use it to define the Trend. I only use Trend to show me the overall strength of THAT particular chart.

Thanks, I thought the histogram was the ergodic. What is it? another faster one?

Such nice charts.

Thanks

 

[ProfLogic]

Quote from pismo10:

Thanks, I thought the histogram was the ergodic. What is it? another faster one?

Such nice charts.

Thanks

Thanks.
The histogram is simply an incrementally faster version of the exact same indicator settings.
Quieting the noise is all about eliminating the tangible inconsistencies & variables.
Just like a high end luxury car . . . you want a smooth ride.

 

[TraderZones]

Quote from ESResistance:

Hi everyone

Please find attached todays levels.

Always remember to use the numbers as a guideline for potential areas of high probability plays

Always use a set up based upon your system to enter a trade.

Good trading all

I hope you are not from that website. They are clueless when it comes to actually making it work. Avoiding posting some losses, etc. Yes, I have been on the site in the past...

 

[1a2b3cppp]

Quote from ProfLogic:

Thanks.
The histogram is simply an incrementally faster version of the exact same indicator settings.
Quieting the noise is all about eliminating the tangible inconsistencies & variables.
Just like a high end luxury car . . . you want a smooth ride.

I don't suppose you want to share your settings with us, do you?

They must be awfully high ergodic settings for it to be that smooth over so many bars. At 343 volume bars on the ES... that's an awfully huge chart too, actually

 

[Cold Brew]

Quote from TraderZones:

I hope you are not from that website. They are clueless when it comes to actually making it work. Avoiding posting some losses, etc. Yes, I have been on the site in the past...

what site?

 

[Cold Brew]

Quote from pismo10:

f9,

Nice b/a accumulation today around 12:47pm prior to the 20+ pt emini rally.

Cheers

I think I see what you're referring to. Looks like the cumulative ask volume was a little more than twice the cumulative bid volume? Is that what you are referring to?

 

[ProfLogic]

Quote from 1a2b3cppp:

I don't suppose you want to share your settings with us, do you?

They must be awfully high ergodic settings for it to be that smooth over so many bars. At 343 volume bars on the ES... that's an awfully huge chart too, actually

Lately the 343 is way too fast. The 2401 is what I use in these markets for entry/exit decisions, the 16807 for trading direction decisions and finally the 117649 for my overall strength decisons.

When it all compliments each other . . . watch out.

The Ergodic is a great indicator but the way it is created within each software package is different. I use a 49/147/49 settings(Ave 1/Ave 2/ Ave) for all markets and all increments and use MultiCharts. My programmer could probably give you a better explanation but he won't even speak to his wife.