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I appreciate your typical in depth answer and perspective. I haven't been so active here ever, but I also seem to recall this forum being very geared towards NT with now a shift towards SC.
Understood.
Historically, I've been using pretty much naked charts, but now, I'd like a good zig zag indicator and daily OHLC lines.
Currently, I've been using a very good zig zag indicator a trader friend of mine made, but it's for NT7 and I know he's not using NT8 yet.
This means that even for my very simple needs, I'd have to somewhere get two third party indicators to accomplish something Sierra probably does even better straight out of the box. That sucks, to be honest. Especially with something as simply as OHLC lines.
On the other hand, it's the steep learning curve that's not so good at the moment since I have my plate full already and this means another probably 2 week delay or so. And I'm soooo used to Ninja and like it, so I'm feeling some attachment and reluctance to do the shift.
Haven't yet had the time to look into it as anticipated, but I will. Most of the free time I have these days go to strategy development which really is independent of my charting software and is done elsewhere (proprietary stuff that's coded for me).
If these two simple indicators are important to you, you can get them without much effort.
One issue is that you are not an Elite member, so you can't access much that is in the Download section. But I think that PriceActionSwing is in the free section. Click the Downloads/Indicator tab, if it appears for you, and see. This is a superior zigzag, with other functionality that you can use or not. All I've ever paid attention to is the labeling of swing highs and lows, but it will also connect them in a zigzag and do a bunch of other stuff I never cared about. There's a discussion thread on it here:
I welcome any feedback, comments and suggestions for improvement.
Please discuss the PriceActionSwing (PAS) indicator in this thread. Any comments or suggestions are more than welcome here. If you have a more private issue send me a PM or better an …
You can get many versions of current OHLC, and about any other levels you want, but you will need to be Elite for that. (I'm not sure what is currently available for NT8. Most of what I am familiar with is still NT7. I'll be finished setting up my NT8 environment soon, and I'll know more then.)
Recommendation: I do not think anyone should join the Elite membership if all you want is some indicators. But there is a ton of them. () You should go Elite only if you like what you have seen so far and want more of the community. Most posters are Elite members, and the Elite forums, particularly trading journals, contain a large part of the site's content. On the negative side, it's a hundred bucks, 1-time lifetime fee. (The fee is specifically to screen out the non-serious -- I'm not kidding. The trolls are seldom willing to part with any cash.)
If you don't find what you need, there is a free indicator thread where you can ask for something, and usually if its not too involved someone will either write it for you, or -- in the case of something as basic as these two -- will point out where to find it on the site.
It's your business what to do, but if you're really concerned with a couple of indicators and are thinking of going to a third-party, you are going to waste your time and spend some money too. Spend the hundred bucks.
(Note: I am not guaranteeing satisfaction, or anything else, and I have no financial interest in whether you spend the money or not. I generally advise people who seem to be getting into the forum to go Elite, and if they don't, that's OK with me. As a rule, most don't, and we stop seeing them after a while, which means it was not a fit anyway, which is also OK with me. )
Anyway, if this is important, it's one solution.
Bob.
Update: I just want to make it clear that it truly is your choice (which you know, of course) and that I'm not saying that anyone "should" be an Elite member, or that they are better human beings if they do . Just that it has its advantages, to some at least.
You're just really going to have to take them both for a test drive and figure it out for yourself. I'll fully admit that, while in the learning curve, I hated Sierra. With a slight passion. Enough to drive me to check out just about every other major platform out there. It's clunky, non-intuitive, and not designed for people that just want to sit down and trade. Sometimes you literally have to go through your asshole to get to your elbow to get to the resolution, something that would easily be rectified by a simple study. I swear I have extra mice on standby because they will wear out in half the time because of all the extra clicks. And it's ugly. Did I mention that it's ugly?
That said, it is hands down the most customizable, configurable, and well-thought-out piece of software (in terms of ultimate functionality) I may have ever used. Rock solid stability, raw speed and power, powered by developers that don't give a shit unless it makes sense. I mean, when you're talking about a coded program, especially one so complex as to trust your money to it, they are never really fully de-bugged right? SC has yet to conform to that paradigm.
I was charting the 6E and trading the M6E, had a little problem with the charts not displaying correctly. Despite my complete ineptitude with code and putting thoughts down through keyboard in general, I hit them up on the support board. They literally had the problem fixed the next day, and sent me the beta DL link to check out. Once I tested it and all was well, it was incorporated into the next version. And they beat me up a little bit about wasting their time by thanking them for it LOL I must be a glutton for punishment, because I like this.
I swear I'm not a shill for SC, but for me, after checking everything else out, it was the right choice. From here on out, I need never worry about my trading software because it simply is not an issue. Far from perfect, but worth the learning curve.
This is completely typical, a reflection of the SC programmers' professionalism:
And this is a reflection of their anti-social geekiness:
This is way better than "It will all be fixed in the next release," which is what we always got from Ninja. But while you won't get evasions, you also won't get politeness, and just barely civility. I do kind of like this better, and I do like the "we'll fix this right now" attitude.
They also are not going to be nice to you if you really do waste their time. Be right or be gone, basically. I like this too.
To repeat, it's a good platform, well-written, and you will eventually concede that it's well-designed, although it will drive you crazy, probably, until you get the hang of it. It does generate strong opinions, positive and negative, among its users.
But I also did have one bug I found, and they were back to me that day and had a fix out and incorporated in the program the next, which is something I like.
Also:
Yep.
As @Rrrracer said, you will have to try it to know if you like it. It will certainly do any job that any trader will want. It will also demand some accommodation from you because it will not be too accommodating to you. That's my experience, anyway.
You can take this as either a rave review or a total pan, and both interpretations would be partially true.
I also have used it and liked it. I can say the same for Ninja, by the way. I have tried a whole lot of platforms that are adequate, but I cannot say quite as much for them. (Not that I know everything, of course.)
But I'm easy. When I started trading, there was no online anything, nor any computers at home. I drew charts by hand at night using quotes from the newspapers, called orders to brokers by phone (landline, which was all that existed) and waited for a call back to find out what price I had gotten filled at. And I thought it was great, to have so much information at my fingertips.
I just downloaded the indicator for NT7 and it seems to do all I want and far more. I don't fully understand it yet as there are quite a few settings and options, but I will playing around with this one for sure.
What I didn't mention in the prior post is that I've also been a little wary of using 3rd party indicators for live trading since this seems to be the common denominator with performance issues on NT.
But, I guess I'll just have to try it and see.
I have considered it in the past regardless of indicators. I am also a member of ET, but not so active on any forum lately as time is short and I'm way deep into my own research that's not really influenced by anyone else at the moment (in contrast to my newbie phase where I was soaking in a lot from various sources).
Trading is a lonely endeavour though and it would be nice to be part of a community with fellow traders.
And thanks for confirming that it's ugly. I felt a little stupid on my own when I was thinking that. But having thought it over, it doesn't really matter that much to me. What's important is a good visualization of price, functionality and stability/performance. Sierra seems to do all that and more.
For the time being, due to time issues and so, I do think I will stay with Ninja for a little longer. That said, I'm pretty much sold on Sierra and definitely don't rule out starting to use it in the future. I have no doubt it's a great platform with huge versatility.
I should probably state that it's the user interface that is not very attractive; the charts and indicators can be as pretty as you like LOL. Hopefully they implement that dark theme @Grantx was talking about soon. Just a little polish...
I received a PM today about an OHLC for NT8. The context was the discussion in this thread about SierraChart and NT8. It said, in part:
I think that this kind of indicator is one of the simplest and most common, and should be available in any platform. So I took a quick look at the standard NT8 indicators, and found one for current OHL and one for Prior Day OHLC.
I don't know if these satisfy the request, but here they are:
These are free with the platform, as they should be. More sophisticated "levels" indicators are also available, but may have had to be coded by someone and so may require an Elite membership, or some other source. But these are free.
You can get the same from SierraChart, and, I am sure, from any other widely-used platform.
I'm aware of both those indicators. Sadly, neither accomplish quite what I'm interested in.
For 'tomorrow', I wouldn't mind the prior day Close plotted 'tomorrow', but the rest, I don't care for.
CurrentDayOHL is almost there, but it lacks the Close. Also, it's not able to plot a complete horizontal line for each day's high/low, but plots a 'rolling/developing' line throughout the day.
I currently have this one in NT7 which a trader buddy of mine gave me:
This one is a little sophisticated in that it also have a different color based on whether the day high/low came first on the day. That's not a requirement, although it would be nice. Also, this one plots the hourly ranges throughout the day also.
The last time I spoke to this guy, he hadn't upgraded to NT8...
) You should go Elite only if you like what you have seen so far and want more of the community. Most posters are Elite members, and the Elite forums, particularly trading journals, contain a large part of the site's content. On the negative side, it's a hundred bucks, 1-time lifetime fee. (The fee is specifically to screen out the non-serious -- I'm not kidding. The trolls are seldom willing to part with any cash.)
. Just that it has its advantages, to some at least.
