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Trading /ES off $ADVN-$DECN (ToS)
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Created: by devildriver6 Attachments:2

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

  #1 (permalink)
Trading Apprentice
Dallas, Texas
 
Futures Experience: Intermediate
Platform: TOS and GAIN Capital
Broker/Data: TD Ameritrade and Gain Capital
Favorite Futures: ES and CL
 
Posts: 35 since Jun 2015
Thanks: 2 given, 14 received

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

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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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Dallas, Texas
 
Futures Experience: Intermediate
Platform: TOS and GAIN Capital
Broker/Data: TD Ameritrade and Gain Capital
Favorite Futures: ES and CL
 
Posts: 35 since Jun 2015
Thanks: 2 given, 14 received


My screen......
If you compare changes in direction on the $ADVN-$DECN with the ES chart, you'll see what I'm talking about.

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$ADVN-$DECN enlarged with the T3 studies.

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  #4 (permalink)
Elite Member
Dallas, Texas
 
Futures Experience: Intermediate
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Favorite Futures: AAPL, /ES, IWM, SPY Options
 
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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.

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  #5 (permalink)
Trading Apprentice
Dallas, Texas
 
Futures Experience: Intermediate
Platform: TOS and GAIN Capital
Broker/Data: TD Ameritrade and Gain Capital
Favorite Futures: ES and CL
 
Posts: 35 since Jun 2015
Thanks: 2 given, 14 received

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)
Trading Apprentice
St. Louis
 
Futures Experience: Beginner
Platform: thinkorswim
Favorite Futures: equity and fx futures and options
 
Leon of Pizza's Avatar
 
Posts: 29 since Sep 2013
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SPX specific internals

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)
Trading Apprentice
OKC, OK
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: IB / IB
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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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