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AbeSmith

8/16/07 General Trade Log / Idea Sharing

By AbeSmith, in Traders Log

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brownsfan019    17

brownsfan019
Posted
It's because folks haven't complained enough about the inaccuracy in their platforms.

 

Another charting software which has addressed this problem correctly is Ensign software, as noted in that other thread which was referenced.

 

Curious though, aren't you still able to use Multicharts with OEC data? Or are you stuck waiting on MC to apply the OEC API upgrade?

 

I'm stuck cooter until MC gets the OEC upgrade done. :sad:

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AbeSmith    10

AbeSmith
Posted
Abe,

From my look at them, the Sierra charts are what I call 'TradeStation' VBC's, which means that the volume threshold you set is more of an approximation. What I mean is that on your 1250 VBC, a couple things could be happening:

 

1) The actual amount of contracts traded in that candle are 1250 OR higher.

2) The amount of trades and contracts that is actually taking place is not what is being reported on the chart for some reason.

 

#1 occurs on some charting platforms, like TradeStation, where they do not break trades up to construct the candle. So if your setting is 1250 and when your candle is at 1249, if an order for 300 comes through, your candle is actually 1549 (1249 + 300). More info in this thread - http://www.traderslaboratory.com/forums/f32/volume-based-charts-request-for-help-1630.html

 

#2 is a little trickier, but in a nutshell, my 5000 VBC on Sierra isn't anywhere close to a 5000 VBC on Open ECry's charts. I tried to use an add-on that Kiwi in the Sierra chart forum designed, but it's not working in the sense of capping each candle at 5000 and then starting a new one. I have no idea what is going on behind the scenes, but when compared to the OEC chart, it's not even close.

 

I have now seen this at TradeStation and Sierra. I'm surprised that neither offers a workaround, but I guess constant volume charts are not significant enough for them to design the fix. As of now, MultiCharts still appears to offer one of the most comprehensive charting packages I have seen, which includes pure VBC's - whatever level you set your threshold at, that's where the candles start/end. No guessing.

 

Thanks Brownsfan. That is good to know. I'm seriously considering moving to Tradestation. I sent them an email to ask them some questions about their service. My current IB and Sierra Chart combo is not as good for active trading as Tradestation and other platforms seem to be.

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brownsfan019    17

brownsfan019
Posted

Just keep in mind Abe that if you go to TS and plan to use VBC's, they will not be accurate at all. See the thread I referenced earlier about this. It's important you understand that if you plan to use VBC's in your trading.

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AbeSmith    10

AbeSmith
Posted
Just keep in mind Abe that if you go to TS and plan to use VBC's, they will not be accurate at all. See the thread I referenced earlier about this. It's important you understand that if you plan to use VBC's in your trading.

 

Thanks Brownsfan. That's a serious issue with Tradestation. I'm still waiting for a reply to my email to Tradestation and then I will ask them about this problem and direct them to the thread you opened.

 

It is frustrating that they have not fixed it. I'm not a programmer but it seems simple enough to fix. I like to know what their response is. Sometimes these things take time to get through the red tape, unfortunately.

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brownsfan019    17

brownsfan019
Posted
Thanks Brownsfan. That's a serious issue with Tradestation. I'm still waiting for a reply to my email to Tradestation and then I will ask them about this problem and direct them to the thread you opened.

 

It is frustrating that they have not fixed it. I'm not a programmer but it seems simple enough to fix. I like to know what their response is. Sometimes these things take time to get through the red tape, unfortunately.

 

See what you can find out. When I was there, I went through many levels of customer service and programmers and was finally told that 'that's the way we do it'. So, I no longer conduct business there.

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