Day Trading Charts and Indicators


today’s quick lesson is charts and
indicators this is what my typical chart looks like
i usually use two to three different charge they both they all look the same
it’s just a different time frame but i personally don’t use time frames i use
tix as you can see here it says 610 tick I call this my 610 take chart and
basically all it is is if you look right here on a bar inside this one bar there
was 610 transactions done for the es many this is the es mini I follow the it’s the SMP 500 index futures and
that’s what it’s called the es mini so basically all it is is each bar is 610
tix i also use a larger time frame but again it’s still in tix is fifteen
hundred and ninety-seven tick chart which is two and a half times more of
this basically just gives me a little bit more of a macro view so this is what my chart looks like each
box is a point which is fifty dollars in the futures market and it is split into
four tix which is different than these tix I know in the futures market it’s a
little bit crazy you have the tix that are for takes being a point which equals
fifty dollars and then you have the tick bars which is transactions per bar they’re called the exact same word but
they did they have totally different meanings so this right here is one . and it split
into four tix this is how i would be calculating my entries exits and how
much money i have made or lost during the day so that’s why I have this great
split up into . grid it’s just easier for me to see because i am a scalper I
only go for smaller profits which is about one . so here are my two
indicators i personally only use three indicators in total i use the EMA right
here EMA lines i have both of the lines for
both charts and also the mac these which is right here this is the movement when
you look at this line right here at the zero line anything that is above it
shows the strength if it is a buyers market if the market
is going higher and if you look below it it shows the strength if it is going to
the downside if it is going short a seller’s market all that it shows me is the strength of
entry for instance right here this is a pretty strong entry move going up so this shows me that it’s a strong
buyers market those are the three main others the
third indicator itself is the actual tick bars because the majority of the
people will use time charts either one minute five minutes daily weekly so
using a tick counter is actually considered more of an indicator rather
than the time frame of the market so those are my three main indicators
that I work with um shows the strength and then also you
can start to read the tick bars as well for an indication of where it’s going to
be going if it’s closing strong at the end of each one that means that’s the strength that it’s giving at
that moment and you need to see how it’s going to continue when it’s closing like
this in the middle that’s kind of an indecision moment like right here you’re not sure where it’s going to go
so it’s better to sit it out and then it actually goes down afterwards so you don’t need a lot of indicators
you can make it as simple as possible to understand where the market is going you
don’t need flashing lights you don’t need a lot of other things the
easier the better

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