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Trading /ES off $ADVN-$DECN (ToS)


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Trading /ES off $ADVN-$DECN (ToS)

  #1 (permalink)
devildriver6
Dallas, Texas
 
Posts: 43 since Jun 2015
Thanks Given: 2
Thanks Received: 32

Hey all... Here's my question.

So, I've done a lot of setting up on my ToS platform I use strictly for charting.
I trade /ES only, I should say before we get too far into this.

On my chart, I use a main chart - 1 or 5 min depending on the days action, with a 5 EMA T3 line and Market Profile overlay with levels and POC, set to Heikin Ashi bars, and RSI lower study with T3 5/10 EMA trend cloud.

My second chart is /ES with a T3 5/34 EMA dual line, regular bars - 1 min.

My third is $ADVN-$DECN with a T3 5 EMA line, and a T3 5/34 EMA Trend Cloud - 1 min.

My forth - NYSE $TICK chart - 1 min...nothing special.


Here's my question - anyone ever trade the /ES strictly off the momentum of the $ADVN-$DECN chart, while just watching levels on the main /ES chart?

I ask, as I noticed with the T3 studies on the $ADVN-$DECN chart, you can get in much quicker, and see when it's turning much quicker, and seems to be a better trade method overall, but I could be new and dumb for asking....

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  #3 (permalink)
devildriver6
Dallas, Texas
 
Posts: 43 since Jun 2015
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My screen......
If you compare changes in direction on the $ADVN-$DECN with the ES chart, you'll see what I'm talking about.



$ADVN-$DECN enlarged with the T3 studies.


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  #4 (permalink)
 blb014 
Dallas, Texas
 
Experience: Intermediate
Platform: TOS
Trading: AAPL, /ES, IWM, SPY Options
Posts: 330 since Oct 2012
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I don't day trade /ES futures but this my layout for Market breadth to get idea how the market is moving and the momentum of the market.


Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #5 (permalink)
devildriver6
Dallas, Texas
 
Posts: 43 since Jun 2015
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Great charts - but I'm more so talking about a trade plan to trade specifically off the turns on the $ADVN-$DECN chart exclusively, only watching the applicable levels on your other charts for possible reversals.

I wondered if anyone had attempted this approach before....

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  #6 (permalink)
 
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 Leon of Pizza 
St. Louis
 
Experience: Beginner
Platform: thinkorswim, NT8
Trading: equity and fx futures and options
Posts: 137 since Sep 2013
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Devil, consider using SPX specific data: $TIKSP and $ADSPD. It seems to me that the NYSE internals get skewed when the top line is mixed.

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  #7 (permalink)
beancounter
OKC, OK
 
Posts: 9 since May 2015
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Leon of Pizza View Post
Devil, consider using SPX specific data: $TIKSP and $ADSPD. It seems to me that the NYSE internals get skewed when the top line is mixed.

Thanks for pointing that out. I too was using the NYSE data for ES trading but I agree the s&p specific data should be better. Going along with blb014, the breadth is also invaluable when using internals to trade the es imo. The s&p specific breadth symbol is $VOLSPD

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Last Updated on August 31, 2015


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