We have a long weekend. I will attempt a full fledge flesh out of what I SEE! It is IMPERATIVE to know how a tool works before using it to do things that it was not intended for. There is a post somewhere about using average values in order to set the NEUTRAL OFFSET. I have very strong reasons why not to do such things as well as what the FLAWS are in the STR/SQU. YES, STR/SQU has FLAWS. Just like in channels, when you see FLAWS it is a change characteristic. With STR/SQU, the FLAW tells you to CHANGE the NEUTRAL OFFSET! Regards, MAK
I started using STR / SQU on a 2 minute time frame running the STR / SQU chart underneath my YM. While discussing several topics with Jack (in his kitchen), he noticed my display and instructed me to change the STR / SQU to the one minute time frame. For those with an IB datafeed, one of Mak's STR / SQU tools (he posted several, IIRC) should do the trick. - Spydertrader
I can shed some light on the esignal calcs. It uses the 1 min O,H,L,C of each series to calculate the spread. Spread open is O1-O2, spread H is H1-H2, spread L is L1-L2 and spread C is C1-C2. Because the H and L can occur at any time in the bar, the two H values and two L values used to calculate the spread H and L can be values that occurred at different times in the bar. So for instruments actively traded, the spread O and C are reasonably accurate while the H and L can be either under or overstated. I trade other spreads actively and this is one of the main reasons I also run Neoticker. It can be set to evaluate the spread at 1 sec intervals and build OHLC bars from that timeseries and thus the H and L are much more accurate. In esignal, the realtime values are correct, but a refresh of the chart can produce different numbers than that which happened realtime. Hope that helps.
My ES for today. Good day except for a slip-up around 11:35 when I thought I was long when I was actually short Looking forward to adding the Str/Squ tool. I've just been just monitoring (using MAK's) tool for now. Not sure yet if I'm going to modify it to create a histogram. I understand that Str/Squ only is useful at the action points (RTL) but I would think that "seeing" where the Str/Squ has been might be helpful. Of course, I do not have any experience with this tool yet to know if that would be useful or not. Have a great Easter weekend everyone!