I am pleased to announce a webinar on session indicators and how to trade them for next Sunday, July 31 at 2:00 PM EST. It will not be easy to fit the subject into a single webinar, but nevertheless I will try to do it. The webinar will have two parts: The first part will deal with concepts and how to best use the indicators for trading. The second part - for those who are interested - will be a brief description how to set up the indicators correctly and what options are available via the indicator dialogue box.
The Ideas and Statistical Concepts behind the Indicators
Not all indicators are created equal, but some are more equal than others. This part of the webinar will mostly deal with the indcators that I have underlined and that make up for the backbone of the session indicators family. A number of the indicators are based on statistical expectations. In particular, this applies to the Session Volatility Bands, the Session Noise Bands which are both calculated as averages from past data, but it also applies to the VWAP/TWAP standard deviation bands. Other indicators such as the pivots incorporate both statistical and habitual elements, as they partly rely on self-fulfilling prophecy.
A Brief Instruction how to Use the Indicators along with Session Templates
This part will only be interesting for users of NinjaTrader, as the indicators are coded in NinjaScript and will only run on NinjaTrader 7.0.1000.5 and later. All indicators rely on the use of appropriate session templates. As I have never managed to write a fully-fledged user manual for all of them, I am getting frequent questions, how to use them for best results. I will therefore walk you through the indicators one by one and give a brief explanation of the correct settings for each of them.
In preparation for the webinar I have reworked most of the indicators and put them together in two packages.
Session Indicators V37
- Session Volatility Bands (Daily Range Projections)
- Session Noise Bands (Breakout and Rejection Zones)
- Daily Session Pivots (Floor, Jackson, Camarilla, Fibonacci)
- Weekly Session Pivots
- Monthly Session Pivots
- N-Day Rolling Pivots
- Pivot Zones Daily (Daily Session Pivots with pivots displayed as zones, and values of the prior days displayed)
- Current Day OHL for Sessions (open, high, low and dynamic Fibonacci retracements)
- Current Week OHL for Sessions
- Current Month OHL for Sessions
- Opening Range (opening range, pre-session range, European & Asian range)
- Opening Range MTF (multi-timeframe version of Opening Range indicator for tick, range and volume charts)
- Initial Balance Range Bands (Opening Range indicator with added bands
- Intial Balance Range Bands MFT (Multi-timeframe indicator for tick, range and volume charts)
Session Indicators V36
- Daily Session VWAP ( volume-weighted average for trading day or session with several types of volatility bands added)
- Daily Session TWAP (time-weighted average price for trading day or session)
- Weekly Session VWAP (volume-weighted average for the trading week)
- RVWAP (Weighted Average Price based on Relative Volume)
The Weekly Session VWAP is a new indicator, which I have recently coded and which is first presented here. The RVWAP is not yet available for the public.Multi-timeframe versions of the VWAP and TWAP are in preparation.
The two indicator packages are attached below. If you intend to join the webinar, please download the indicators now. I will do my best to already answer as many questions as possible prior to the webinar.
BEST OF TRADING 2011 AWARD
Fat Tails Session Indicators Webinar was nominated for the Best Webinar Of The Year for 2011, and won 3rd place (Bronze).