ACD trading By Mark Fisher

February 23rd, 2013, 01:16 PM

Bookworm

How valid is the concept of an opening range today? Stocks and stock index futures still have a valid "opening" at 9:30 NY time but most commodity markets no longer have that same volume spike when the pits open and there are no pits anymore for the ICE (NYBOT) futures. Gold and oil volume jump well before the Comex and Nymex floor opens and the increase is more gradual that it was when the pits ruled supreme. Just curious since I don't trade those markets or use ACD anymore.

I think people focus too much on the details of ACD, and often lose sight of the concept. There is no need to be tethered to a specific or fixed opening range, it's about identifying a range which is "significant". One example might be the range of an outside day, with lower lows, and higher highs.

May 17th, 2013, 07:04 PM

Anyone have the ACD code for Thinkorswim and wouldn't mind sharing it? I'm not super great with code.

I'm hoping to have it plot a box on my chart for the opening range from the beginning of the day to the end of day.

Thanks

May 27th, 2013, 06:27 PM

Check out @TradeFlightPlan and his website.

November 4th, 2013, 05:49 PM

Hi there,

Does anyone have number line values for the ES for the past three months? I searched googled.

I am sure some kind trader wouldn't mind sharing.

Thank You.

November 4th, 2013, 05:56 PM

Fat Tails

@Bookworm: I think you ask exactly the right questions. A breakout play is something that is similar to an option position called straddle. You really need rising volatility for your game to yield a positive expectancy.

The opening range is just a reference range, which is setup prior to the expected rise in volatility. Mark Fisher's book was written 10 years ago, and with the predominance of electronic markets today, the concept may require some modifications.

First of all Mark Fisher's opening range is no more aligned to the open of the regular sessions. If you subscribe to his value sheet with A" and C" values you will find out that he has shifted the start of the "opening range" to 8:30 AM. This reflects the need to include pre-session trading. The opening range now only includes the first 15 minutes of the regular session, which starts at 9:00 AM.

This leaves us with further questions:

-> On Thursday and Friday usually news events push the markets around 8:30 AM, which suggests to shift the opening range to earlier hours on these days.
-> Even on the other days, 15 min into the regular session seems to be late to start with a breakout trade, I would not hesitate to enter earlier, if CL hits a pre-established breakout point.

Hi Fattails,

What OR would you recommend for the ES? I have been using 9h45 (thinking the market opens at 9h30) .....15min candle

Thank You.........you really are an asset to this forum

November 5th, 2013, 01:05 PM

budfox

Hi Fattails,

What OR would you recommend for the ES? I have been using 9h45 (thinking the market opens at 9h30) .....15min candle

Thank You.........you really are an asset to this forum

I do not recommend any opening range, because I do not use the ACD method. However, if I remember correctly, mark Fisher suggests a 20 min opening range from 9:30 AM EST to 9:50 AM EST, see chart below.

I personally prefer to use the noise bands to detect the breakout points.

November 5th, 2013, 03:14 PM

Fattails: you said, "I personally prefer to use the noise bands to detect the breakout points."

Are your noise bands available for Multicharts ? (or can you explain how they are calculated ?).

Steve

November 5th, 2013, 03:54 PM

sptrader

Fattails: you said, "I personally prefer to use the noise bands to detect the breakout points."

Are your noise bands available for Multicharts ? (or can you explain how they are calculated ?).

Steve

The noise bands is an open source indicator that can be found in the download section.

Originally, I had posted the noise bands as a separate indicator. I have then integrated them with the Session Pivots in order to reduce the number of indicators that I have to maintain.

Download: SessionPivots V43

Exported using NT Version 7.0.1000.26 Indicators will only run on NT 7.0.1000.5 or later. Family of 6 indicators to display daily, weekly and monthly pivots and OHL of current day, current week and current month. The package includes - anaPivotsDailyV43 - …

Fat Tails

The idea behind the noise bands is similar to Toby Crabel's stretch:

Noise = the smaller of (High - Open) and (Open - Low) for the current session

The smaller move from the open - the unsuccessful move initiated by noise traders - is called the noise. The noise bands are calculated as an average over M and N days of the session noise. Consider noise bands as the distance from the open

-> where a price move initiated by noise traders typically stalls
-> where a breakout is confirmed if it is supported by other time frame than short term traders

I am not aware that there is a MultiCharts version.

November 9th, 2013, 03:21 PM

Hi

i would like to plot pivot moving averages, but my platform doesnt allow me....

I have a demo version of Ninjatrader. What free software will allow me to plot pivot moving averages?

Or other alternatives/options do I have?

Thanks

November 9th, 2013, 06:17 PM

budfox

Hi

i would like to plot pivot moving averages, but my platform doesnt allow me....

I have a demo version of Ninjatrader. What free software will allow me to plot pivot moving averages?

Or other alternatives/options do I have?

Thanks

In NinjaTrader you just need to select the Typical Price as input series.

The resulting moving average is a pivot moving average.

ACD trading By Mark Fisher

Discussion in Traders Hideout

ACD trading By Mark Fisher