They are both the same. Those bars are colored based on the stochastic. The bar is green if %D>%K, the bar is red if %K>%D. 8*272=2176, so there is a new 2176T bar opening at the same time a new 272T bar starts at those vertical yellow lines. So, the bar 272T bar right before the yellow line is what you'd see right at the opening of a 2176T bar - and it's color (which is based on the location of the stochastics) will tell you the direction. Now, sometimes (for whatever reason) my 2176T bar opens a few ticks after (out of synch) a new 272T bar opens. But that usually doesn't change anything about direction unless we are sitting directly on a crossover point. Like I said, that chart is close and can be used to see the direction of the entries in general, but it isn't going to be exact when looking after the fact - but IMO it is a very close representation and very few trades would have been different in real-time.
For anyone still a bit confused on how this system works or how it is set up I have attached a screen of the charts I am using in eSignal. The top one is a 272 tick chart with Stochastic bar colouring which Dion Loy made. It can be downloaded from: http://share.esignal.com/download.jsp?groupid=2&folder=&file=stochColor.efs The bottom is a 2,176 tick chart. From my experience this seems to be the easiest and fastest way of showing Quah's awesome system. Screen link: http://www.btinternet.com/~futurestrader/eSignal_Screen.png
Combining the coloured stochs earlier, we now have an EFS specifically for SSVS: screenshot: http://share.esignal.com/groupcontents.jsp?folder=&picture=ssvs.png&groupid=2 The blue bars are when %K > %D, red when %D > %K. Grey dots appear on the bar just BEFORE your trigger bar, to give you time to set up the trade. Red and Blue dots appear above the trigger bar (coloured green), to indicate the direction of the trade based on the current stochs(17,1,17). Each dot happens every 8th bar after the specified open. This corresponds to the 2176 tick bars, if you're viewing the 272 tick chart. IMPORTANT: If you are NOT on the West Coast, you will have to change the start time: 1. Edit Studies 2. select SVSS from the drop down at the top. 3. type in the startHour (ie '9' if you're in the East) and startMinute ( ie '30') in the space provided. The EFS can be downloaded from here: http://share.esignal.com/download.jsp?groupid=2&folder=&file=ssvs.efs
Very nice! Thanks. I was planning on doing something like this tonight - but you've saved me the work and that's putting me closer to switching to ESignal for charting instead of just the feed..
Dion, Once I have downloaded the esignal efs, what do I do next to see the tool on screen. I`m new to esignal so please can you say the steps clearly. Also where am I supposed to download the file to exactly? Thanks in advance, Andrew
volvo264, you can download it to any folder, but you might as well dl them to esignal/formulas/other. once you have it downloaded, open up an advanced chart. right click on it, then go to, formulas/other. then left click on the formula you want to use. to remove it, right click on the chart, and then left click the formula you want to remove on the bottom.
Just looking at the color stochs indicator for esignal. It looks to me as if going short on three consecutive red bars and long on 3 consecutive blue bars, also offers some nice entry signals. What does everyone else think? Runningbear
Yes, I've also noticed that myself. In fact, that may be a great method based only on the 272T chart. One thing I want to mention about the marking of every 8 272T bars to represent a 2176T bar - even though it logically makes sense this should be the same as looking at a 2176T chart - it isn't for some reason. The opens of the 2176T bar vs. the open of the "corresponding" 272T bar are usually not the same - and sometimes a point or more apart from each other. I'm asking some questions to see if I can understand why it is like this. This is not specific to Esignal - Ensign has the same issue. I'm sure it has something to do with "where" the software starts counting the ticks. I've asked Esignal about that, hopefully I'll get a good answer. This sort of thing is the reason I stopped using tick based charts in the past.
Quah, I had this problem too and it seems to get over it you have to put your cursor on the first 2176T bar and see which 272T bar this corresponds too. Mine is usually 14:33 (9:33 EST). Then to have them in sync just modify the setting like Dion outlined with startHour being 9 and startMinute being 33.