Chart Set-up

[wsam29 10]

Post your trading desktop setup here of your charts to give new traders ideas.

 

I myself have a 5 minute of ES, NQ, YM and ER2 along with TRIN, VIX, and PUT/CALL

 

I trade using a 2 minute of YM with TICKS below for comparison.

 

and volume.

 

everything is lined up so to speak to see any divergences between the markets to spot which one is "leading"

[nicknextmove 10]

I trade the ER2 exclusively now. Used to trade YM earlier.

 

Have strategies that run on 5 minutes.

 

Sector Sorter workspace is to tell me how the market is doing (idea from one of Carter's webinar).

[walterw 10]

Nick : I like that "XCAP Polycicle " indicator you got there, is it possible to share ?... cheers Walter.

[nicknextmove 10]

walter,

 

Here it is. You can also get it from the TS forums.

 

I find the xcap to be better than Ehler's inv. fisher transform (though both come close).

20070116233527XCAP_POLYCYCLE.ELD

[walterw 10]

Thanks so much Nick ¡¡ It looks very good , will study and make you some feedbacks... would be nice to interact the usage... thanks again ¡¡ cheers Walter.

[TinGull 10]

Pretty simple setup

[brownsfan019 17]

Here you go guys...

 

It does not get much more complicated than this.

 

 

I have a 6 monitor setup and depending on what I am trading currently, all or some of the monitors is used per market.

[walterw 10]

Browsfan : can you share a little bit whats your trading strategy on that chart ? thanks Walter.

[Soultrader 12]

Here is my setup.

 

233 tick chart with Heikin Ashii on the price bars using volume delta.

 

Internals you see are: TICK, TRIN, ADV, PREM. PC Ratio is on a seperate screen.

 

I also use a 30minute chart and two columns of tape.

[Knyyt 10]

Heres mine... Knyyt

[brownsfan019 17]

Browsfan : can you share a little bit whats your trading strategy on that chart ? thanks Walter.

 

Walter - let's see if I can...

 

GREEN LINE = Quick MA

RED LINE = Slower MA

 

Blue candles = up candles

Red candles = down candles

 

The strategy is rather complex and difficult to explain here... let's give it a whirl - both MA's pointing up, consider long; both MA's pointing down, consider short.

 

You'll note that I use Share Bar Charts (aka Volume Based Charts). I used to use minute charts and found that the premise behind them is faulty in that who cares what happens in 3 minutes? I'm interested in knowing when there is action, aka volume. I want to see when there is action happening and volume charts do just that - candles rapidly fire when there is action (and when I coincidentally want in) and candles take longer to form when there is minimal action (and when I don't want to participate usually).

 

I would strongly encourage all traders, esp newbies, to examine Volume Based Charts / Share Bars in your trading. The end result to me has been phenonmenal. The 'holy grail' (to me) if you will. Just changing a simple setting on how you view the chart is what propelled me to the next level.

 

note - I obviously did not disclose the exact way I trade. That was done on purpose. I believe in learning things for yourself. I could easily disclose how I trade here, but inevitably most would consider it to simple and need/want to complicate it b/c it just can't possibly be that easy...