editing low volume ticks

Discussion in 'Technical Analysis' started by savage, Sep 17, 2003.

  1. savage


    I primarily trade the ES & NQ and use Esignal. Does anyone know of a way to only chart ticks with volume>X.


    Volume per tick must be greater than 100 lots to be charted
    Last Bar Low = 1000.00
    999.75 trades in new bar but only 80 lots trade and then price reverses back up and 999.75 doesn't trade again that bar

    Is there a way that the trades at 999.75 can be left out of that bar? My idea here is to reduce fake outs and false breaks.

  2. JayF_eSignal

    JayF_eSignal eSignal

    I'm not aware of any easy way to do this in eSignal. There may be a way to do this with eSignal Formula Script, however I would imagine that it would be pretty high on complexity to create it.

    A Renko chart may be the best way to filter out fake outs, and better see trends. I would suggest trying that.
  3. savage



    I think that Renko charts could work for me but I can't figure out for the life of me how to change the point value for the blocks. It seems like the default value =2. Please help.

    Also, it looks like there are a number of issues being complained about regarding the Renko charts on the esignal bulletin board. Have these issues been addressed?

  4. JayF_eSignal

    JayF_eSignal eSignal


    To change the Box Size, right-click the chart and select Edit Studies. Under the Study Drop-down Menu, make sure the current symbol is selected (instead of a study). Then under the Chart Type Drop-down Menu, select Renko. You can change all the appropriate Renko settings from here.

    Regarding the reports of problems on Renko, many of them are the result of a misunderstanding of the nature of the Renko chart and how it builds its boxes. Since the Renko is only based on closing prices, boxes are not drawn until the closing of the interval period.