Software Used to Trade Jack Hershey Methods

This thread has been cleaned of all it's garbage and off-topic posts. Thanks to those who didn't respond to the trolls, for as I've said countless times when you respond/quote them it only:

1) reinforces and repeats what they said
2) gives them the attention they crave
3) encourages them to make further posts
4) gives the mods more work in cleaning up the mess

If any trolls or off-topic posters show up again please ignore them. Thanks.
 
Quote from WGTrader:

The biggest challenge will be the automation (or semi-automation) of the channels. :p
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A while back, I spent a three days weekend programming channels in excel.

IN the end I simplified things by eliminating VBA and instead relying solely one formulas (and array formulas). Here are a bunch of snapshots from today. You will notice that a channel will disappear once price returns back to point one. This is to free up the formulas for newer channels and keep the xls working efficiently (the old channel is no longer valid at that point).

I made no effort to mark gaussians, but I use volume to indicate breakouts.
 

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Quote from WGTrader:

I’m posting my reply here since this is the appropriate thread for JHM software discussion. Thanks for the comments. The model is Excel 2003 with VBA (Visual Basic for Applications). The data feeds are DDE links from OEC (Open Ecry) and TOS (thinkorswim). Everything updates in real-time including DOM (very fast!). I find that OEC’s DDE links to be quite robust. As I mentioned, I’m testing out this idea of a semi-automated model based on the principals of the JHM. The biggest challenge will be the automation (or semi-automation) of the channels. I wrote logic in an earlier model to draw the gaussians, but I believe that I’m going to re-think that logic. The model also calculates Str/Squ (but it is not shown right now). I do like using Excel because you can easily create logic tables based on binary switches and logic gates. One is only limited by their imagination (and time!). The other nice thing about using Excel is that it is very common. No expensive charting programs/services to buy. Of course IT DOES have its limitations. Ultimately I would like to have a self-contained application that could be distributed (maybe as an .xla file, Excel add-in, that is if I stick with Excel), but I don’t want to get ahead of myself just yet. :p
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I'll check out OEC later. Thank you WG
 
Quote from Clym:

A while back, I spent a three day weekend programming channels in excel...
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Hey Clym!

It looks like you've got plenty of tapes and channels on your charts! Is it all automated or does it require some user input? Do you add additional chart series (dynamically), or do you have a preset number of channels that your model will draw? Your one screen shot shows quite a few worksheets! Your chart looks a bit tight (bunched), but I think you are on the right track.
 
Quote from WGTrader:

Hey Clym!

It looks like you've got plenty of tapes and channels on your charts! Is it all automated or does it require some user input? Do you add additional chart series (dynamically), or do you have a preset number of channels that your model will draw? Your one screen shot shows quite a few worksheets! Your chart looks a bit tight (bunched), but I think you are on the right track.
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I am using live formulas for the channel calculations with no user input. Right now I use 6 sets of formulas for up and 6 for down (12 total). On a few occasions, I have had a need for a few more.
 
What charting software do you use for trading futures and what do you like/hate about it?

I'll start myself about mine...

I currently use quotetracker

pro:
-it's free
-has nice functions for drawing channels/qaussians
-does PRV

con:
-backfill sometimes messes up (in combination with interactive brokers) showing one large volume bar that is not correct. This one is really bad as volume is very important.
-doesn't have any scripting for automating ftp/fbp/...

and a second question: does anyone here use a mac for trading futures?
 
Quote from Clym:

I am using live formulas for the channel calculations with no user input. Right now I use 6 sets of formulas for up and 6 for down (12 total). On a few occasions, I have had a need for a few more.
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Can you shed some light as to which formulas you use for live channel calc.?
 
Quote from innersky:

.....

pro:
-it's free
-has nice functions for drawing channels/qaussians
-does PRV

con:
-backfill sometimes messes up (in combination with interactive brokers) showing one large volume bar that is not correct. This one is really bad as volume is very important.
-doesn't have any scripting for automating ftp/fbp/...
More...

Hi, I use IB with QT & Amibroker. I have never experienced a problem with QT backfill and volume bars. In fact the bars compare very well with Amibroker.

You can use QT paintbars to indicate the ftb/fpb etc.

The only issue I have found with QT is the annotation. Copying lines, text and moving them is a real pain with QT and hence I use Amibroker for my annotations.

In fact if I can annotate charts in QT as easily as I can with Amibroker I would stop using Amibroker asap.

NinjaTrader is showing promise but they have an issue with IB volume data. NT only updates the volume using the last trade snapshot message and ignore the volume update message. Since the last trade is a snapshot (every 5ms), the volume bar lags the actual volume buy about 10-20% on each bar (easy to see by comparing to QT and Amibroker using the same IB feed). Also it doesn't have vertical scrolling.



HTH
 
I use QT (without text annotation) -- it will mark inside/outside bars using paintbars, candle background, unfortunately, you cannot align the background change to the prior period. Only centered on candle or projecting forward into the future (which QT considers the current period).

NT does a good job if you know how to code what you want.

But if you do a lot of manual annotation real-time like I do, it is a nightmare to me.

Manually drawing the trendlines is horrible on NT after using QT for so long. With QT, I never have to remove my eyes from the chart because it is all done with the mouse. With NT, you need the keyboard to start any line and cannot turn projected extensions on & off. To switch from ray to line w/o ext requires DELETING and re-creating the line!!

When you adjust the slope of a line in QT, there's a "ghost" where the line was before the move began -- that is VERY helpful when lengthening a line - not so in NT - so you must be able to see the points when adjusting the line or have a very good artistic memory. You might as well delete the LTL and re-create if you need to stretch it out. My eye is just not good enough to manually extend the line without affecting the slope.

If you leave stay in draw mode active, then you cannot change line colors or thickness, or even edit/select the line for copying, deleting, or moving. I have no idea what they were thinking.

I have the impression, that unless NT implements a Channel draw tool as others like ensign & TOS do, and make extensions optional, I will never switch to NT for daily annotation.

I definitely consider QT worth registering & will continue to register it. Sure wish QT could record and replay market data...
That and painting prior candle periods are the only things I've requested that they've not done. Everything else I've requested, QT team has implemented now.

BTW, I pay for IQFeed because I wanted reliable data.
 
Quote from LostTrader:

When you adjust the slope of a line in QT, there's a "ghost" where the line was before the move began -- that is VERY helpful when lengthening a line - not so in NT - so you must be able to see the points when adjusting the line or have a very good artistic memory. You might as well delete the LTL and re-create if you need to stretch it out. My eye is just not good enough to manually extend the line without affecting the slope.

If you leave stay in draw mode active, then you cannot change line colors or thickness, or even edit/select the line for copying, deleting, or moving. I have no idea what they were thinking.

I have the impression, that unless NT implements a Channel draw tool as others like ensign & TOS do, and make extensions optional, I will never switch to NT for daily annotation.
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Thought I'd chime in with my Ninja experiences. If you need to extend an LTL line, a quick trick to do it is to click the line you want to extend, CTRL+C,CTRL+V, then use the line you just pasted as a guide for your original line as you extend it to keep the slope consistent.

As far as changing line colors and thickness, I had not noticed a problem. To get to draw mode, I just press F2 and draw my line. When I click the second time to place my line, it goes out of draw mode and lets me select the line so i can right click to edit thickness/color or to cut/paste.

I'm not sure what it is, but after getting used to NT I actually think it's easier to use than QT, and about on par with Ensign.
 
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