Question for Grob/Hershey...

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BA Trader

I looked at the chart mgin linked a few posts ago and am curious about your ma on the volume. It looks like it almost draws the gaussians for you. What settings are you using for this? One problem I have with Ensign is that it doesnt allow you to do any studies on the volume area out of the box. There is probably a way to do it with their programming setup but Im not knowlegeble in that area. It would be terrific if we had someone who was good at that stuff using Ensign with us.
 
Easy,
on the chart you posted where you should have entered but didn´t, you have 4 arrows pointing out two bars and the volume - i´m looking, i´m looking again, i´m guessing, but i don´t really get it. What´s the clue that told you there was a high prob. for a trend change around 13:50?

Asking questions seems to be my main function in this thread. Hopefully someone else is on my low level and get´s something out of it too...
 
about moving average on volume - with sierrachart you can just take a moving average, choose volume as data item and put it in the same region as the volume bars, but maybe you can´t do it in the same way in ensign.
 

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Quote from Stalker:

Easy,
on the chart you posted where you should have entered but didn´t, you have 4 arrows pointing out two bars and the volume - i´m looking, i´m looking again, i´m guessing, but i don´t really get it. What´s the clue that told you there was a high prob. for a trend change around 13:50?

Asking questions seems to be my main function in this thread. Hopefully someone else is on my low level and get´s something out of it too...
More...

This was on a one minute chart which I go to when I suspect a turning point. I pointed out the previous spike to see if anyone would ask why.:) When I see a volume spike by itself out of nowhere it is a sign to me that theres a good possiblity that theres more coming which is why I was not looking to reverse there.I was watching this huge divergence on the macd which is a clue that a top may be coming.
Then we come to the new hi. You have the the high black volume bar, a couple of new highs but on less volume. Look at a lot of charts. You will see this over and over again.

p.s. Trying to reverse at tops and bottoms is not a beginners game. It is still just an exit point for me. When you see your exits are within a few ticks of tops and bottoms consistently then it may be time to start thinking about reversals.
 
thanks!
i guessed it had to do with a high bar and not enough volume, so i was at least looking in the right direction, i just didn´t understand the connection with the spike earlier.

It´s funny, because I actually papertraded something simular on YM yesterday - a long red bar with low volume. I suspected a trend change and i was right that time, but i think i have to finetune that strategy a lot before i dare using it with real money...

Time to study the charts again...
:)

/Stalker
 
Quote from Stalker:

about moving average on volume - with sierrachart you can just take a moving average, choose volume as data item and put it in the same region as the volume bars, but maybe you can´t do it in the same way in ensign.
More...

Ive used Sierra Charts. Its a nice package. It is one of the easiest to customise. Even I could do it.:) Quotetracker is a good package. I just cannot seem to find one that has everything I want. Ensign comes the closest.
 
sierra chart is very easy to understand, but i find more and more things that i want to do that is not possible with this program.
I also need historical data feed. I saw that that was included in the price with ensign.
/Stalker
 
Quote from icarus618:

These are some neat questions. You are really on the ball with this stuff. Here's my take:

Q: How does one properly scope and bound the 7 fractals to set the correct context down to the 5 min channel?

For ES, the primary charts I use are Q, M, W, D, 60m (or 30m), 15m, 5m. I use a few others, but these are sufficient and necessary for thoroughness. I study Q, M, W, and D (cash equivalents) on weekends. At the end of every trading day I view D, 60m, 15m, 5m as preparation for the next day. Every chart is annotated. The 5m is archived along with the YM 2m.

I find the IT best viewed on the 60m. This is just my preference. The 30m shows it fine too. You can go to 45m also. The D shows it, but not as usefully for intraday trading. It should be clear that "IT" does not refer to a (x)m chart, but to a degree of trend ("degree" as used in EW). Pull up a chart from August and you'll see 2 IT trends. The current one originated 8 days ago. Having a thoroughly annotated IT chart is key to making money. That is to say, if you don't know where you are in the IT at all times, you are trading in the dark. This is especially true for getting surprised at opens and the start of PM sessions.

The ST is the traverse of the IT. I use the 5m for the ST. On trend days there will be a single channel extending across the day which overlaps into the next day. It is a channel that contains the channels I draw for the trading fractal on the 5m. The 15m will show this clearly too. Carry this over to the next day's trading chart.

The last trading channel (5m) at the end of the trading day is the "carryover" channel for the next day. At times it is "broken" at the open the next day. The "carryover" channel is a good aid in getting oriented to the open quickly.


I'll comment on your other questions later as time allows.
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Icarus,

You're very generous.

D.
 
Quote from easyrider:

BA Trader

I looked at the chart mgin linked a few posts ago and am curious about your ma on the volume. It looks like it almost draws the gaussians for you. What settings are you using for this?
More...
Yeah that's the idea -- it's a 5 period simple MA. A 2 period is also useful.

I don't use it anymore but it was a useful learning tool... good for a few a-ha's.
 
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