Does anyone know of a charting platform that can produce a three line break chart based off a tick chart, for example, off a 20 tick line chart? I know a number that produce three line break charts off the 1 min 5 min, etc. My current software which does well in most other areas, Ensign, produces such a chart, but the configuration of the bars keeps changing. Not just the last bar, but other bars in the past. In my last trade, I had a bunch of green bars going up then I got my red bar sell signal and went short. The stock immediately shoots up and I look back at the chart and the red bar sell signal disappears and all I see is a row of green bars. This should not happen. Historical data should not change. The market is chaotic enough, we don't need the charts to be. I've already have had InvestorRT and Realtick so I'm looking for another program that can do this. If someone knows of a program other than the ones I've mentioned, I'd greatly appreciate hearing about it. Thanks. LIV "What is , is. What isn't, isn't. So you might as well go with what is. Its the only game in town."
Hi, have you tried http://www.erlangerquote.com (they took over support of the ravenquote software). It has 3 Point Break charting capabilities. Also, you said: "I've already have had InvestorRT and Realtick so I'm looking for another program that can do this." I wasn't aware Realtick could do this, there's no mention in the help files, can you elaborate.
Hilo, thanks for your reply. I will call erlanerquote to find out. I canât tell whether they have the capabilities on first glance at their web site. My guess is no, but I may be wrong. I only mentioned InvestorRT and Realtick so that future posters would realize that they are not on my option list. I donât believe either has the capabilities to do this. There is a long list of trading software companies. Iâm prepared to call all of them. I was just hoping someone who is using this feature would respond. Thanks again. LIV "What is , is. What isn't, isn't. So you might as well go with what is. Its the only game in town."
By the way. I mentioned before that I currently use Ensign software. I in no way want to disparage this fine software. First of all, they are the only ones that I know of that do have 3 line break on a tick basis. (Although I canât use it because the signals change from minute to minute. But at least they are trying!) Also their software is very stable and user friendly. Plus they provide excellent phone and email support at no charge (very usual), and all for a bargain price. I recently talked to the designer of Ensign and he says he is working on the problem that Iâm concerned about, and is responsive to the requests of the users. I like this software better that any I've used except for this feature. Just keep in mind not many (and no one I know of) is even offering this feature. If they resolve it, I'm sticking with them. I'm happy with the sevice they have provided. LIV "What is , is. What isn't, isn't. So you might as well go with what is. Its the only game in town."
Liv, If you have not already tried this, you may want to go into Ensign's 'Setup', 'Manager', and then set the tick server to disabled. It sounds as if you might be getting a data refresh from eSignal which can have the effect of changing the Tick bars and consequently the 3LB study. Tick charts, as i understand it (so don't take this as gospel ), are different from normal time-based charts in that upon 'refresh', they start the process of bar construction based upon the most current tick and then count backwards. So, the last bar on a 20-tick chart will refresh to the last 20 ticks, irrespective of how many 'ticks' your own chart was into the final bar prior to refresh. This could also have the effect of changing the appearance of all of the bars preceding the final bar, relative to your original chart. Don't know if that makes any sense or not, but you might want to try the above suggestion and see if you notice any difference. Since i changed the tick server to disabled in my own charts, i have no longer encountered the problem that you are describing. Good luck, mav
the situation that you mentioed (namely dynamic re-evaluation of an existing signal/pattern, and its subsequent re-designation from red to green) is common amongst the upper quality tech analytical packages... I've heard of this happening before. Its frustrating, and one has to develop either an anticipation of this happening or a comfort level in ignoring the posibility that one signal, which might be green, for that fraction of time (1 tick, 1 bar, whether these are 1min, 5min or otherwise) turning red in the next fraction of time. Software designers have not been able to decide whether the glass if half full or empty, and pose that problem to the interpretor instead of the software decision process. Hence, should the real time data filling up one time interval be weighed positive, then the candle/tick/bar will reflect that. Should that data be neutral then in candle parlance, it will be a green hollow with tails, as appropriate. Should that data be even to negative, then that candle will be full with red and tails. Similarly, in the tick analysis routines of the better software packages, should the data continue to go good/bad/good/good/bad/bad/bad, then the remarking of the trend line will change, and not remain constant. Hence your problem you described, with having 2 of 3 trend lines go positive, then the third go negative, then turn yet again and go positive, once you look back at it, say after skipping 3 time intervals or so. Perhaps, this is not a problem at all, because, if you were to immulate this in human terms and see an inverse cup, called a W, then your analysis of the instant data would change accordingly in real time. So, perhaps faulting the software would be appropriate if it remained constant, although the circumstances changed, instead of seeing it change its interpretation of recent (say, within the last hour) events. That's why, most "higher strategy" trading books almost always state not to solely rely upon one method of indicators in making trading decisions. hope this helps...
Maverick, Limitdown, and Spieler: Thanks for your posts. Maverick, Iâve gone into the manager and changed the settings as you suggested, so far, so good. I appreciate the suggestion. Spieler thanks for the link, Iâll check it out. Limitdown, thanks for your well written response, Iâll have to read it a third time.
how do you use this 3LB, and in preference to what other charting method? often times, waiting for the confirmation that 3 lines/periods (say 1min, 5min, etc.) were lined up before showing a breakout, might mean that the move is exhausted, or false breakout. how do you use this charting method?