Why do people use Volume, Range and Tic charts?

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Quote from fearless9:

Come on people let us just stick to constructive comment and leave the personal stuff to others.

Life is a smorgasbord.
Just take what suits your palate at the time and leave the rest behind in good condition for others.

I think that I have made it very clear what I have learnt from this thread so far and there will be others who have mined far far more because their trading philosophy is much less defined and therefore more open (susceptible) to different approaches and opinions.

I would suggest that if you disagree with a post, then make your point and move on.
It is then up to other people to call for expansion and clarity if they are sufficiently interested.

FWIW my suggestion to newbies is to develop and refine a trading philosophy as soon as possible. I know that this is not easy to do as you feel that you need a critical mass of knowledge first. But just keep trying and adjusting as you go.
Goodluck
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Well said.

Anybody who does not agree with ProfLogic methods, please feel free to post constructive criticism with valid arguments. Please no more senseless bashing that clogs the thread.

Not a log time before this thread originated I started using volume based candles and was amazed how clear the signals are and how much chop is eliminated.

This thread can help a lot of people.

Regards,
redduke
 
Quote from JimmyJam:

Unfortunately QuoteTracker only has a look-back period of 10 days, so it doesn't lend itself to implementing the technique properly, but being familiar with the technique does give very good confirmation to my own trading process.

For the record, I'm anticipating a Higher Low right about the 1395 area (where the market attempted to establish Support on Friday) enroute to breaching the current highs in the 1407 area (ES contract).

Yeah, its been a profitable Sunday afternoon.

Best Regards,

JJ :)
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1397.75 . . . close enough. Nice run up from there. Great job! Might be getting a short term top up here. Now is where the caution comes in to play. I'm throwing in an intraday stop here at 1405.75 and calling it a day.
 
Quote from RedDuke:

Well said.

Anybody who does not agree with ProfLogic methods, please feel free to post constructive criticism with valid arguments. Please no more senseless bashing that clogs the thread.

Not a log time before this thread originated I started using volume based candles and was amazed how clear the signals are and how much chop is eliminated.

This thread can help a lot of people.

Regards,
redduke
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Yeah fellas, your're right in general, and redduke, you just hit the nail on the head. The fact of the matter is, Prof's chart settings are actually better than mine for the purpose of displaying pure price action, which is what he's been talking about all along.

All of the indices gave a quick buy signal (HL), with the ergodic showing range extension. Now that it's registering divergence, it's definitely time to close the Longs and look for a counter-trend Short (if it suits your personality).

Best Regards,

JJ

P.S. I'm using YM for this exercise, but all of the indices are displaying the same thing, and I'm actually trading off of ES.

P.P.S. This means I may have to rethink at least part of my system :eek: :) :D !
 

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There is such a SIMPLE SOLUTION to this problem. It is called your IGNORE LIST. You will never again have to see another post from someone you dislike.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=81947&highlight=ignore

fearless is right on

Quote from fearless9:

I would suggest that if you disagree with a post, then make your point and move on.

Quotes from others:

“There he goes again... Mucksurfer just can just can leave it alone...”

“Why? Because, over time, I slowly started to dislike the way with which you try to divert, confuse, mess with and detract from what I consider interesting threads, without contributing anything of value that I can see. (And I am doing it for my entertainment, too).
That's it. But enough attention given to this subject....”

“You follow me around ET like a little pissing puppy. Give it a rest and go find someone else to annoy.”

“I'm not going to piss with you.”

“You have never tested a single damn thing I do but yet you follow me around in every thread trying to discredit my ideas.”

“Hey Smurf, I supported you all along because I was interested in the TRADING, I thought you had something to add as a TRADER, but you seem to concentrate a lot more attention on attacking ProfLogic than you do in managing your position, and going out of your way to discredit him, when actually it is you who appear to be the attention seeking boor with your "Lunch with Marketsurfer" thread”

“Come on people let us just stick to constructive comment and leave the personal stuff to others.”

“why MarketSurfer continues to hound this thread, making undercutting remarks and attempting to discredit any and everything”

“Me personally, I'm sick of it,”
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Hi Prof Logic,

I am just confirming what I believe I read earlier in the the thread............you use 24 hour charts for every market, even for the ES and ER2 correct? TIA

Dan
 
At the bottom of the following page, I can see that the Ergodic offers a substantial advantage over the Stochastic.
http://www.erlangerquote.com/newplugins.htm

It seems the Ergodic is not available as a canned indicator on TradeStation, Interactive Brokers or NinjaTrader.

Can anyone help with either

(a) a website where the Ergodic can be used without incurring further expense?

or

(b) how to create the Ergodic in (preferably) NT or (2nd choice) IB. Can it be created by tweaking the TSI -- adding an EMA of the TSI on top of the TSI line? What parameters would be used (ST 5, LT 20, EMA 5?)
 
Quote from dandxg:

Hi Prof Logic,

I am just confirming what I believe I read earlier in the the thread............you use 24 hour charts for every market, even for the ES and ER2 correct? TIA

Dan
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Yes, I use all of the data for every market I watch and/or trade.

In addition, the intraday stop has held and now trying to challenge 1411.25 on the eMini S&P. Replacing intraday stop to 1407.00. Swing Stop on YM replaced to 12264.
 
Quote from spinner:


It seems the Ergodic is not available as a canned indicator on TradeStation, Interactive Brokers or NinjaTrader.

Can anyone help with either
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You can find the code on the Tradestation Easylanguage forum along with a very detailed discussion. Search for "True Strength Index" or just "TSI".

https://www.tradestation.com/Discus...SearchTerm=true strength index&txtExactMatch=

You will find several interesting variations of the TSI there as well.

Good Trading!
 
Quote from ramora:

You can find the code on the Tradestation Easylanguage forum along with a very detailed discussion. Search for "True Strength Index" or just "TSI".

https://www.tradestation.com/Discus...SearchTerm=true strength index&txtExactMatch=

You will find several interesting variations of the TSI there as well.

Good Trading!
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ProfLogic,
If you could continue the wonderful community service you are performing here I would much appreciate it. Since you are the authority here, perhaps you would anwer my question.

I can't figure out how the TSI differs (if at all) from the Ergodic. Some websites describe them as being the same, others say they are different. The charts you and others have posted of the Ergodic show two signal lines and a zero line. The TSI as a canned indicator is just one signal line.

What's the best way to get the Ergodic or its equivalent?
 
Quote from spinner:

ProfLogic,
If you could continue the wonderful community service you are performing here I would much appreciate it. Since you are the authority here, perhaps you would anwer my question.

I can't figure out how the TSI differs (if at all) from the Ergodic. Some websites describe them as being the same, others say they are different. The charts you and others have posted of the Ergodic show two signal lines and a zero line. The TSI as a canned indicator is just one signal line.

What's the best way to get the Ergodic or its equivalent?
More...

It's interesting that Sierra Chart uses the same formula for both TSI and Ergodic. Now if I can just get my volume bars to cut right at 2401v etc., I will be good.
 
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