Kagi VS time based charts: which has more price action readings - Traders Hideout | futures io social day trading
futures io futures trading


Kagi VS time based charts: which has more price action readings
Updated: Views / Replies:605 / 2
Created: by sureway Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Kagi VS time based charts: which has more price action readings

  #1 (permalink)
San Diego
 
Trading Experience: None
Platform: Sierra Chart
Favorite Futures: CL
 
Posts: 28 since Dec 2017
Thanks: 43 given, 7 received

Kagi VS time based charts: which has more price action readings

I am studying David H. Weis' book "Trades About to Happen: A Modern Adaptation of the Wyckoff Method" on reading price actions. Near the end of the book, Weis introduced wave charts. On TradeStation, I found Kagi chart which is pretty much similar to his wave chart. Meanwhile, I did not find much discussion on Kagi on this forum. And this led some doubt whether Kagi is a good choice compared to the routine time-based charts.

Here are what I like about Kagi:

1. it is very easy to read the waves of prices, large or small. If there are very volatile price moves within a time-based bar, Kagi will show the detailed up and down waves.

2. the total coverage volume, price change and time duration are clearly summarized. On the time based charts, these information are spread over several bars, and the information can not be read intuitively.

The things I don't like about Kagi:

1. The time information is mostly lost.

2. Due to point 1, the trend line and channel analysis seems challenging

3. Large effort, small effect scenarios are totally buried, which is a critical information.


I just wrote some python code to draw a variant of Kagi chart, which includes all Kagi information but whose x-axis is the date and time. And now trend line and channel analysis are possible.

Weis proposed to overlap his wave chart with small time based chart, like 1-min chart. Then all above three drawbacks can be addressed. However, visually this is a total overkilling.

Can I receive some comments and insights from the wise minds here? Thanks a lot!

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
Thanks: 33 given, 375 received


I started to play with Kagi charts a few weeks ago. It is very good to keep you in the trade when the market is trending (what happens quite often recently).

The longer the time frame, the less chops you get. For example today using 5 mins Kagi charts you could have stayed in a short trade for 20+ ES points in the afternoon. But when the market is sideways, it will give you lots of false signals...

Reply With Quote

Reply



futures io > > > Kagi VS time based charts: which has more price action readings

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

$1,000 in Amazon Gift Cards being given away right now from GFF Brokers

Right now
 

$250 Amazon Gift Cards with our "Thanks Contest" challenge!

Right now
 

Show us your trading desks and win over $5,000 in prizes w/Jigsaw Trading

August
 

Webinar: Suri Duddella (TBA)

Elite only
 

Webinar: Richard Bailey (TBA)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Tick Charts instead of Time Based Charts? or other chart types Fadi Traders Hideout 53 October 12th, 2017 10:18 AM
Plots fine on time charts but not on non-time based charts olobay EasyLanguage Programming 10 April 26th, 2015 04:38 AM
Converting time based charts to volume and tick based charts SeanKozak Commodities Futures Trading 1 April 1st, 2014 09:05 PM
Indicator plotting time in the volume based charts or volume delta charts. Czechmade Traders Hideout 5 November 8th, 2012 10:53 PM
Median renko charts giving different readings grego The Elite Circle 7 December 29th, 2010 09:17 AM


All times are GMT -4. The time now is 02:18 PM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts