Why do people use Volume, Range and Tic charts?

Observe the NQ and ES during today's trading.

The constant volume settings should be 343 and 2401 respectively, as ProfLogic has so kindly stated for us in this Journal.

Set lines at +1/-1 your Momentum Oscillator.

When a chart is at -1 and produces a W (or double) bottom or a Higher Low, the buy signal happens when the histogram crosses over to the plus side (aggressive traders may enter when the histogram is still on the minus but goes green, however, this is not a confirmed buy).

When a chart is at +1 and produces a M (or double) top or a Lower High, the sell signal happens when the histogram crosses over to the minus side (aggressive traders may enter when the histogram is still on the plus but goes red, however, this is not a confirmed sell).
***
The setup that I just described generated many many great signals over the past week, and each one generated a profit (even if it was $100 bucks or less, it was still a profit) ... depending on how you define probabilty, this system will most likely give you 3 out of 4 wins, as you gain skill and knowledge you may be able to increase that number, who knows. THAT is up to you, and you have to be willing to actually put in the screen time and maybe figure out some things for yourself.

It also generated great buys in pre-market, but I have to sleep sometime.

Good trading,

Jimmy Jam

P.S. I didn't mark the signal all nicely the way the Prof does, but if it isn't obvious, then you should stop trading.

 

Hey,

Thanks for the info. I will look at this closely.

Cheers

 

I'm impressed . . . I damn proud of ya JJ!!!

 

JJ, how did you get that "ribbed" look on your QT charts?

 

Don't feed um for a couple of days

 

I'm glad to see we have some humor in this thread...

 

It's a gradient blend (in this cae, dark grey to black).

Good trading,

JJ

 

I know it's a gradient blend but how did you get what looks like
16 different blends that go slowly from dark grey to black on the price part of
the chart? (It also looks like this on your MO indicator)...

Or is it just your monitor doing this? Maybe I should ask which
version of QT you are using?

 

JJ - I noticed that the Open ECry charting as a Momentum Oscillator but it mainly hovers around 100, not 1 like yours. Do you know if this is the same with a different number scale?

Example from this morning:




How would you interpret that, if at all? This could be something completely different for all I know.