Why do people use Volume, Range and Tic charts?
- Thread starter fearless9
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no actually, it's just the opposite. but i'm so happy with the results i'm getting from trading it, i won't bother to argue with you.
yes, i see that you are slightly in profit ($2.00) on the YM after weathering substantial heat ($5.00) on your trade. i'm sincerely glad it worked out for you, and hope you close the trade before the aforementioned profits evaporate!
yeah, i'm having a blast with this too!
Good trading,
Jimmy Jam
P.S. Don't forget your MOC order now.
Information edge? :eek:
Anyone with minimal chart reading skills could figure out what is happening with your current YM short Surf (and it could have been taken with much less risk by just shorting the retracement of the already established downtrend).
Once again, not that I'd recommend it, because this baby is bottoming.
Good trading,
Jimmy Jam
I am new here, and I see this thread died a while back. Thanks to ProfLogic and all who made this one of the most interesting lessons on trading that I have ever found.
I have been using TradeStation, but have started a 30 day trial for MultiCharts, thanks to the endorsements found in this and other threads.
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Quote from ProfLogic:
The only Ergodics I have is for TS8 & TS2000i. I don't have one for NT or IB. If you want one of those I will post it but they are older and haven't been updated in a while. I use MultiCharts. Just let me know.
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If you have any EasyLanguage code you can share, please post it. I would like to take a look at it.
I have downloaded all the Ergodic and TSI code I could find at the TradeStation forum, and I will post it here. I have not done anything with it yet, so I can't comment on it.
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Quote from ProfLogic:
For the candlesticks to be consistent the bars need to be consistent. Ensign, eSignal, QCharts & MultiCharts are the only software charting programs I am aware of that builds the bars correctly and consistently.
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TradeStation plots volume bars. Why don't you mention them? You said that their volume bars are "capped". Would you explain what you mean by that?
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Quote from ProfLogic:
Just to clarify, The Equi-Volume Bars are not the same as the Volume Bars. The Equi-Volume Bars are variable bars so they are inconsistent in the way they are built.
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Quote from Ensign:
Equi-Volume Bars:
The bar widths can be influenced by the bar's volume, kind of like an Equi-Volume effect. However, the genius of what has been done is to keep the bar centers equally spaced so the studies and draw tools can still be applied to the chart with the equi-volume widths.
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Here is a picture. It is a 60 minute chart with volume plotted as a variable width. I agree that Volume Bars are preferable.
Here is EasyLanguage code for Ergodic that I found on a website:
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Create this function in easy language: blaucsi
inputs: r(numericsimple), s(numericsimple), u(numericsimple);
value1= 100* TripleAverage(close-open, r, s, u);
value2= tripleaverage(high-low,r,s,u);
if value2 <> 0 then
blaucsi = value1/value2
else
blaucsi = 0
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Create this indicator: Ergodic
inputs: r(13), smooth1(5), smooth2(5);
value1 =blaucsi(r,smooth1,1);
value2 = blaucsi(r,smooth1,smooth2);
plot1(value1, "Blaucsi");
plot2(value2, "sigline");
plot3(20,"Overbought");
Plot4(-20, "Oversold");
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The author of this indicator says that Blau used
r=26 and smooth=5 as the default.
I have been using TradeStation, but have started a 30 day trial for MultiCharts, thanks to the endorsements found in this and other threads.
-------------------------------------------------------------
Quote from ProfLogic:
The only Ergodics I have is for TS8 & TS2000i. I don't have one for NT or IB. If you want one of those I will post it but they are older and haven't been updated in a while. I use MultiCharts. Just let me know.
-------------------------------------------------------------
If you have any EasyLanguage code you can share, please post it. I would like to take a look at it.
I have downloaded all the Ergodic and TSI code I could find at the TradeStation forum, and I will post it here. I have not done anything with it yet, so I can't comment on it.
-------------------------------------------------------------
Quote from ProfLogic:
For the candlesticks to be consistent the bars need to be consistent. Ensign, eSignal, QCharts & MultiCharts are the only software charting programs I am aware of that builds the bars correctly and consistently.
-------------------------------------------------------------
TradeStation plots volume bars. Why don't you mention them? You said that their volume bars are "capped". Would you explain what you mean by that?
-------------------------------------------------------------
Quote from ProfLogic:
Just to clarify, The Equi-Volume Bars are not the same as the Volume Bars. The Equi-Volume Bars are variable bars so they are inconsistent in the way they are built.
-------------------------------------------------------------
Quote from Ensign:
Equi-Volume Bars:
The bar widths can be influenced by the bar's volume, kind of like an Equi-Volume effect. However, the genius of what has been done is to keep the bar centers equally spaced so the studies and draw tools can still be applied to the chart with the equi-volume widths.
-------------------------------------------------------------
Here is a picture. It is a 60 minute chart with volume plotted as a variable width. I agree that Volume Bars are preferable.
Here is EasyLanguage code for Ergodic that I found on a website:
-------------------------------------------------------------
Create this function in easy language: blaucsi
inputs: r(numericsimple), s(numericsimple), u(numericsimple);
value1= 100* TripleAverage(close-open, r, s, u);
value2= tripleaverage(high-low,r,s,u);
if value2 <> 0 then
blaucsi = value1/value2
else
blaucsi = 0
-------------------------------------------------------------
Create this indicator: Ergodic
inputs: r(13), smooth1(5), smooth2(5);
value1 =blaucsi(r,smooth1,1);
value2 = blaucsi(r,smooth1,smooth2);
plot1(value1, "Blaucsi");
plot2(value2, "sigline");
plot3(20,"Overbought");
Plot4(-20, "Oversold");
-------------------------------------------------------------
The author of this indicator says that Blau used
r=26 and smooth=5 as the default.
One more question for ProfLogic:
I believe you said that you load 90 days of tick data from eSignal into MultiCharts. How do you do that? The eSignal website says that they only offer 10 days of tick data. I like the idea of position trading with volume bars, but you need way more than 10 days to do that.
Thanks for any help you can offer!
I believe you said that you load 90 days of tick data from eSignal into MultiCharts. How do you do that? The eSignal website says that they only offer 10 days of tick data. I like the idea of position trading with volume bars, but you need way more than 10 days to do that.
Thanks for any help you can offer!
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