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jackj

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Everything posted by jackj

  1. jackj
    Interesting thought... But I think the difference (and this is coming from my supposition, so a bit of circular logic) is that there's a difference (in my eyes) of the market participants from 9:25AM ET and 9:35AM ET, but no inherent change in your example of 12:00PM ET and 1:00PM ET. FWIW, TTM did commission a study - admittedly of limited duration - but they did find tradeable stats. I'll attach screenshots of what they found. I started to do my own, to update them and to factor in other variables, but I didn't already know MS Access, and I'm not up to spending the time to learn it right now.
  2. jackj
    Indeed, if we were talking about currencies, then the European open and its affect on currencies - which is huge - would be at issue. But re: the e-mini's and their gaps, I was simply saying that the US open was not "just a continuation of overnight movement", else you wouldn't see a big difference when the US opened, including often a filling of the gap, and extreme moves in a direction different from the overnight movement, even the 6:30-9:30 movement. Having said that, as stated I will pay more attention to that period, as Tams feels it has merit, so worth a look. Just stating that it's more than just a continuation, as the OP presumed by his question. Afterall, it appears that you feel that the European open is very important, especially to currencies (which trade before then), but would you say that the European open is just a continuation of the trading before it?
  3. jackj
    Will start watching that timeframe from 6:30AM on; thanks!
  4. jackj
    Okay, I think I see what you're saying. I guess my point is that there is a difference between RTH and Globex. Hence, gaps mean something more than routine oscillation. If not, there wouldn't be any special action at the level of the RTH open (if it were just a continuation of Globex hours), nor anything special with filling the gap and reaching the close of the previous day, but there often is. In fact, I noticed that today's high came 2 ticks from filling a gap still open from May 8th (if you use the 4:15 close). Coincidence? I don't think so, especially since I couldn't see any other reason for it to reverse so abruptly there. I'll attach a chart, fwiw. Good discussion!
  5. jackj
    Thanks for your clarification re: overnight trading, as "often" is a bit different from "just a continuation", and the more recent hours may make it moreso. Nevertheless, I see that there's often a very decidedly abrupt change in action at 9:30, and not just in volatility/volume. Curious, would you not view gaps as anything special, re: being filled, either, since there really are none, since trading is 24 hours (23:45)?
  6. jackj
    Tams, I think you're thinking of Best Choice software. And I wouldn't say that RTH are simply an extension of overnight. Afterall, institutions are trading RTH, but aren't overnight, right? And when there's a gap, that means the overnight's having been buying/selling, and if the RTH is simply an extension, it would continue and wouldn't fill, or not likely. But the reality is it fills more often than not, so obviously there's a counter pressure to what the overnight's were doing, no?
  7. jackj
    Have you seen this thread: Pivot Points and Floor Pivots - NinjaTrader Support Forum
  8. jackj
    Okay, a clarification, fwiw. The current/last bar's color will be painted based on: if the average closing price of the previous 6 bars is in the lower 50% of the range, it paints the current bar red. If the average is in the upper 50%, it's blue. The current/most recent bar's close, on its own, does not affect the coloring, unless it changes the 6 bar average to more/less than the 50% of the range. At least not the way Carter does it; I've confirmed that with him. Now, Carter calls these modified HA, but I'm not sure if he's using traditional HA's to compute the numbers, and then coloring them, or if they're traditional bars/candlesticks that he uses for his computation, but then when he colors them he considers them akin to modified HA's. I'm almost certain it's the former.
  9. jackj
    Don't have esignal, and unfortunately, I'm not a coder, so can't confirm the coding. I'm looking at how to do this in Sierra. There's one over there, but it's a bit different. If it helps anyone, in non-coding english, the default color is blue, and it changes to red when a bar closes in the bottom 50% (previously, they'd sometimes said 25%) of the ATR of the previous 5 bars (at one point used 6). This is meant to give more of a "heads up" than the breakout would be, I think. The two ways they use it is 2 or 3 bars confirming a change in trend in order to exit a position. And a continuation trend trade, where they look for the prevailing color (trend), and after they get the opposite color, will enter on the second bar of the prevailing trend, indicating a confirmation of a resumption of the trend.
  10. jackj
    I think this is a case of like those pictures, that can be seen as two different things (old and young lady) depending on how you look/read it. I read your quote from Vic, and what you say in your re-phrasing, as the same thing. Your confusion is when you think that Vic is saying that the second point of the TL, the highest high before the lowest low, is necessarily the second point. He isn't; it only is IF the line doesn't pass through other prices. If it does, then you don't use that high. That's why you say it's often not possible, and you're right; in that case, that then is not the second point that you use, you go to the one where it IS possible to avoid going through prices in between, as you do in your example. I probably just confused things more:) Anyway, you're right in your understanding of it, and that's all that matters.
  11. jackj
    Studying the futures, hoping to make a living at it (aren't we all...) Originally from Milwaukee, WI, now in FL. Use Sierra Charts for charting, and trying to read any and everything!
  12. jackj
    Has anyone put one together for Sierra Charts? I asked at their board, but admin seemed to think that it would be difficult to do. More than I thought, but then, I don't code. Thanks in advance for any help!
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