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Is it possible - bar type based on a secondary dataseries
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Is it possible - bar type based on a secondary dataseries

  #1 (permalink)
Market Wizard
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Is it possible - bar type based on a secondary dataseries

I was wondering if it is possible to develop a bar type that would be based on another dataseries. BY that i mean a bar type that would create a new bar (OHLC) based on the completion of a bar on another dataseries.

For example, let's pretend i consider the ES as the principal conductor of the day but prefer to trade the TF (RUSSELL). I'd like to get a new bar on a RUSSELL chart each time the ES forms a bar of say 800 ticks. Can this be done ?


Last edited by trendisyourfriend; September 13th, 2011 at 12:21 PM.
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You probably already tried this but thought I'd mention it in case you haven't. if you use a 5 minute on Tf and the 800 tick on Es as you mention, then create your chart with the 2 data series. That will pretty ugly imo. but no reason why you can just have 2 charts set up the way you want them.

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Quoting 
I was wondering if it is possible to develop a bar type that would be based on another dataseries. BY that i mean a bar type that would create a new bar (OHLC) based on the completion of a bar on another dataseries.

For example, let's pretend i consider the ES as the principal conductor of the day but prefer to trade the TF (RUSSELL). I'd like to get a new bar on a RUSSELL chart each time the ES forms a bar of say 800 ticks. Can this be done ?


I think that it can be done with an indicator.

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trendisyourfriend View Post
I was wondering if it is possible to develop a bar type that would be based on another dataseries. BY that i mean a bar type that would create a new bar (OHLC) based on the completion of a bar on another dataseries.

For example, let's pretend i consider the ES as the principal conductor of the day but prefer to trade the TF (RUSSELL). I'd like to get a new bar on a RUSSELL chart each time the ES forms a bar of say 800 ticks. Can this be done ?

What are you looking to accomplish or gain from doing this?

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  #6 (permalink)
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What indeed.


Quoting 
What are you looking to accomplish or gain from doing this?

What a profound question!


I am trying to:
  • Transform lead into gold
  • Master the Secret of Eternal Life
  • Obtain unlimited wealth
  • See what another instrument is doing during the lifetime of the bars of the chart Master Instrument on a non-time based chart.

But that is all irelevant since as you can see, it can't be done. (Post #4)

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Market Wizard
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Zondor View Post
I think that it can be done with an indicator.

That's exactly what i'd like to get. Next question... How can i replicate your prowess ?

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r3algood View Post
What are you looking to accomplish or gain from doing this?

I have noticed that i often refer to the ES to gauge conviction or strength of the next setup i see say on the NASDAQ or RUSSELL. All markets are somewhat linked though they may not have a perfect correlation all the time, i may look at market profile for the ES only to evaluate what is the next potential move say on the RUSSELL. This works very well. Market Profile and the ES is a powerfull tandem. When the ES meets resistance or support, there is a high chance the TF, YM or NQ will react to that event. So using the ES as the main conductor and placing different symbols side-by-side while being locked to the ES as Zondor showed, may facilitate my analysis or give me another reason to pull the trigger.

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Stock Correlations Soar To 97.2%: Here's Why

As you can see from the chart in Post #4, everything is correlated now.

But with Skynet pulling the strings and everything happening so fast, it's hard to tell what is leading and what is following.

Stock Correlations Soar To 97.2%: Here's Why | ZeroHedge

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Zondor View Post
As you can see from the chart in Post #4, everything is correlated now.

But with Skynet pulling the strings and everything happening so fast, it's hard to tell what is leading and what is following.

Stock Correlations Soar To 97.2%: Here's Why | ZeroHedge

excellent article, thanks for posting it


what I find so reassuring, is the reality, not the notion, that substantial amounts of other traders and other sophisticated Finance guys are saying these same things, care of ZH, than just a few of us rabid traders here on futures.io (formerly BMT)

so many of us have fled the other boards, that weren't worth their salt, such as ..... well, why name them and give out ideas,

and, so many of us have left off the predatory threads from Paltalk and HotComm rooms and TradingRooms (that went belly flat), and have coagulated here on futures.io (formerly BMT)

so, its good to see an article like that published openly!

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