233 Tick Chart

[Andres 10]

Hi, I am a beginner trading the emini S&P500, I have noticed that a lot of traders use the 233 tick chart. I am using a 5 minutes chart using MACD and Stochastic but I’d like to know further more about the 233 tick eg. How can I to interpret this chart, how can I combine this chart with other studies to know the entry points so I need some help to understand what the 233 tick is all about.

 

Thanks guys

[torero 10]

This 233 tick chart was made popular by John Carter and his book. Other than that, tick charts at different number are personal preferences. I use 600 and 3000 tick charts. 600 tick is closer to 5 min charts, 233 is a bit too fast for me.

[thrunner 10]

Fibonacci based tick charts have been around for quite some time. There is even a recent discussion right here in these TL forums, with charts : http://www.traderslaboratory.com/forums/f34/time-based-candels-v-tick-candles-1736.html

[walterw 10]

My sequence since I trade in futures :

 

3T, 11T, 22T, 55T, 110T, 233T... for aerial context 5 min...

 

my two cents... cheers The Chimp.

[Nick1984 10]

Tick charts work well in combination with fib's but its the same as any other chart. If you feel comforable using a 233t (2-3min chart equivalent on the YM) then use it but have an anchor like Walter just said.

[Reaver 10]

Walter, did you say 3 tick?

[walterw 10]

Walter, did you say 3 tick?

 

 

yeap, I used to trade with that on very high volatile conditions... but with indicators of 110 Ticks in them here is one http://www.traderslaboratory.com/forums/34/my-entry-vs-my-stop-vs-952-4.html I am actually not using that method... my smallest is 22t right now...

[stalor455 10]

I've used 15 minuite candles ES for many years, The market moves in 30 minuite intervals,,so the 15's jus work for me... What tick chart setting is best to use in conjunction with the 15 min? I've been watching a 233 but it doesn't seem to flow with all my 15 min interval charts, but I can tell jus by watching it for a few days that it is useful! I just need to get the proper setting to flow with 15 min intervals. Any help is greatly appreciated...Thank you....ST

[BlowFish 10]

Stalor do you want it as a trigger chart (I.e. faster) or to be a similar speed to the 15 minute? In any case get a rough idea of the total ticks for a day and then divide by 6.5 * 4. Thats 6.5 hours * 4 15 minute bars an hour and will give a similar length bar to the 15 minute. Divide by a further 5-7 to get a faster 'trigger chart'. From memory 2000 tick was roughly equal to 15 minutes but I think you will need double that nowadays.

[Guest forsearch]

I've used 15 minuite candles ES for many years, The market moves in 30 minuite intervals,,so the 15's jus work for me...

 

It does?

 

What basis do you have for this observation?

 

-fs

[stalor455 10]

What basis do you have for this observation?

 

Well fs My basis is 8 years of experience watching & trading the market. All seasoned traders I've met & know will tell you that 10:00 10:30 11:00 11:30 give or take 5 minuites are key reversal times in the AM ,,,,,2:00 2:30 3:00 are the PM reversals or continuations which ever the case may be. It's been my experience that more volume usually comes into the market around those times. Traders call the time between 11:30 & 2:00 the doldrums, for obvious reasons, thus not good odds for catching a runner. Hope this helps.....ST

 

I've started watching a 512 on the ES & 233 on NQ they seem to pair up well that way & do give a lil different perspective than a time chart.