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The Chart Set Up I Use For Futures
Hello all, I’m going to be blogging about intraday futures trades & traditional option positions.
To start I’ll describe the chart set-up I use for futures & then quickly go over a trade from just after the Chicago open today (7/22).
Below is a standard (9,26) Kumo & three nested boxes – A, B&C. The boxes are there to explain what the Kumo is. In each box I’ve marked it’s price midpoint with a black line. The purple arrow points to Span B at the current bar and the yellow one points to Span A. The value of span B at the current bar is equal to the price midpoint of Box A. The value of Span A at the current bar is equal to the average of the midpoints of Boxes B & C.
Each point on the Kumo edge is generated in the same way. The rightmost span A and B are generated from non-shifted boxes A, B&C. It’s all midpoints – that’s important because price tends to move towards midpoints from the edges of ranges in flat markets (think market profile) and away from midpoints in moving markets (think 50% retracement). I think of the Kumo as equilibrium, support/resistance & trend – depending on it’s shape and on price action relative to it.
The box on the left is the first 5 minutes of the Chicago session for the NQ this morning, 7/22. The Kumo is set at (18,52). The faster moving cloud is made of an 8 period EMA and a moving midpoint line just like the Spans that define the Kumo except that it isn’t projected forward and it considers 21 candles. Along the bottom is a DMI, simplified to show only crossovers of the D- and D+.
The important level for this trade is highlighted by the flat bottom of the Kumo on the right hand side. Remember the Kumo extends 52 periods in front of price, the right edge in the picture is actual for the trade entry. The flat bottom is essentially reflecting the 1/2 way point of the move just prior to Chicago open. Notice also that price tested that level during the first 5 minute action.
When price comes back into the Kumo it has some impulse, evidenced by the red candles. It pauses respecting the flat bottom & then breaks through with impulse. At this point I’m looking to get in. The non-impulsive move back to the fast cloud is my entry – at the yellow arrow.
My exit is at the second yellow arrow. The band was getting thin, price had moved a decent amount from the Kumo and it looked as though a double bottom was forming. Simple trade good for 4 points.
S&P 500 E-Mini Mar ’20 (ESH20)
Stocks: 15 20 minute delay (Cboe BZX is real-time), ET. Volume reflects consolidated markets. Futures and Forex: 10 or 15 minute delay, CT.
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The Impulse System is based on two indicators, a 13-day exponential moving average and the MACD-Histogram. The moving average identifies the trend, while the MACD-Histogram measures momentum. As a result, the Impulse System combines trend following and momentum to identify tradable impulses. This unique indicator combination is color coded into the price bars for easy reference.
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Read more here.
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The Expressions dialog allows you to choose from a number of popular commodity spreads. When you select a popular spread from the drop-down list, the expression is built automatically for you. You may also create your own custom spread chart by entering the mathematical calculation.
The calculated results are displayed using the bar type you choose for the expression. Additionally, an expression can be added to the main chart window, or as a new pane on the chart (you’ll choose the placement when you create the expression).
If you want to create your own custom expression, you can enter the calculation directly into the expression field. Expressions consist of:
- symbols – must be enclosed in “curly brackets”. Examples:
- constants: any floating point number like 2.35; note that we don’t support “scientific” notation (for example 1.72E5)
- unary operator – (negation) so you may enter -2 + 1 and are not forced to type 1 – 2
- binary operators:
These are listed in order from lowest to highest precedence (multiplication and division will always happen before addition and subtraction, unless grouped by parentheses).
- to make sure precedence is correct, parentheses ( and ) can be used; for example 2 ^ 2 + 3 = 7 but 2 ^ (2 + 3) = 32
An example, showcasing all variables:
Note for Futures Contracts: Barchart’s charting application commonly uses the * symbol on futures contracts as a shortcut to specify the month. For example, ZC*1 will return the front month, ZC*2 returns the second month out, ZC*3 returns the third month out, etc. Using shortcut symbols when building an expression is allowable:
You can add up to five other symbols for price comparison directly on the chart. To create a Comparison chart, click the “Compare” button, or open the Chart Menu and select “Comparison Chart“. You may also right-click on the chart to select the same command, or open the Chart Menu (the three horizontal bars top right of the chart) and select Comparison Chart.. We provide a list of major market indices that you can select for comparison, or add your own symbols.
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The Chart Menu is located at the top right of the chart and contains additional commands:
- Comparison Chart – opens the menu to add comparison symbols
- Expressions & Spreads – opens the menu to add an expression or spread
- Add Drawing Tools – opens the Tools menu
- Set Alert – opens the dialog to set a price alert for this symbol
- Add to Watchlist – opens the dialog to add or remove the symbol to a Watchlist
- Save to My Charts – for Premier Members, you can save a customized chart to your own “My Charts” portfolio
- More Data – Opens a series of informational windows about the symbol you are viewing. This lets you view other data, such as technicals, fundamentals, and Opinion, without leaving the chart.
- Social Share – allows you to share an image and link to the chart to different social media platforms
- Download Chart Data – for Premier Members, this option downloads all the chart data, including any studies on the chart, to a .csv file
- Print – opens the Print dialog so you can print a copy of the chart on your printer. NOTE: depending on your printer settings and the chart size, you may have to print in landscape vs. portrait mode, change the magnification level, and/or adjust the margins of the page to print the complete chart on one page.
- Save Chart as Image (.png) – Depending on your browser’s configuration, you may be asked where you want to save the image, or it may automatically get downloaded to an area on your computer previously identified by your browser as the download destination.
Many of the actions you can apply to a chart are also accessible when you right-click on the chart.
which data feed do you use for Sierra chart?
Updated March 21st 2020 by CenFlo
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