Is there anything that Market Delta offers that Sierra chart doesn't?
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
If you have the level 5 subscription of Sierra, you can use the Number Bar study, all the doc of the settings is detailed here: Numbers Bars - Sierra Chart
There is also a commercial version on Home - Gomicators Website that will give you a couple more feature ( unfinished auctions, naked POC and naked unfinished auction lines, imbalance-based support/resistance zones..)
All the doc of the settings is ... not ready yet..
Here's a chart of both studies, showing about the same info, i.e. bids and asks, 3x diagonal imbalance, volume, delta, max delta, min delta, delta finish.
Disclaimer : I'm the vendor of the commercial product.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
The following 2 users say Thank You to gomi for this post:
I have always been interested in the ladder type approach however I have had trouble getting into it. Renewed interest as I am planning start using Sierra (previously NT).
a. Because of the many versions/vendors I never been able to get a single clean understanding of the decision process while trading in a 1,2,3 fashion.
b. I get that ordinary guy given a supercar feeling, the car looks great but in the hands of a "Sunday driver", its meaningless. I revert back to my default method of trading.
Is there any video available that shows it being deployed "in anger", perhaps scalping aggressively for an hour? I am very profitable using levels, lines, midband retracement etc. chart trading. On good volume days can I can easily take a grand (or a few) per hour out of CL or ES etc.
I was just looking at some racing track videos Is there perhaps any clean example of someone (really good) using yours or similar in an inspiring/instructive way for real world trading?
Edit: sorry, I understand of course that $ per hour is not a great measurement, account size affects everything and balancing risk is important but got to measure somehow.
Last edited by Rory; April 16th, 2016 at 11:18 AM.
The following user says Thank You to Rory for this post:
Unfortunately, to continue with the car metaphor, I would only be the car builder.
I have rather bad driving abilities..
However what I can tell is that it's like pivot points, top/bottoms, mid-swing retracements,etc.. It will give you areas where something might happen, like a rejection. Except being based on price, like the top of a candle or a 50% retrace, it's based on volume, and aggressive buy/sell action.
You look for areas where either you had the most volume (POC), or where suddenly aggressive buyers/sellers appeared (imbalances), and you expect these areas to be tested and either hold for a retrace, or get a overrun by the other side.
I'll look to see if I can find a good driver video, but I'm not sure there's anything that will allow you to cash in "easily" a couple grand on CL in a hour with a 1 2 3 receipe. :-)
The following user says Thank You to gomi for this post:
Unfortunate car metaphor indeed but futures etc. are odd as assessing if one is working even as efficiently as peers is far more difficult than normal industries (maybe brokers have an idea, but maybe not). Many systems largely achieve the same thing but time & effort vary.
I would maybe never have pushed myself to try and hit high numbers had a mentor not shown me what can be done even with a "simple" trading approach (and talent). There is no luck except where there is discipline* in any method but it would certainly help me decide to invest my time to learn if I saw an expert driver sometime