On the weekend we added KISS to Multicharts - it's very similar
to Tradestation. Anyway on MC you can make custom candles like a 2
day or 3 day chart, each candle is 2 days. you can't do that on TS,
only daily and weekly, nothing in between.
The attached chart shows the daily on the left where you can see
the DVT was hit on that last pullback, on the right is the 2 day
KISS chart where each candlestick represents 2 days. Notice the DVT
was not hit on the 2 day chart.
Currently I've been showing the daily and weekly charts, and
while the weekly DVT's are wide, they are much wider than the daily
charts for obvious reasons. The 2 day chart might be a happy middle
ground in between where you get the benefit of both i.e.. .less
reactive than the daily but more than the weekly.
I have not investigated history, just thought it was interested
and sharing
thx man, yeah I'm always thinking of little tricks
etc.
that said pain in the butt converting that to Multicharts, would
be much easier if Tradestation allowed you to make 2 day, 3 day
charts vs only daily and weekly with no option in between
Thanks Matt for always looking at things in multiple ways.
An alternative to the 2-day may be to use the 2nd DVT as I've
noticed strong trends tend to clip the first one and then reverse
(perhaps further history is needed).
YES that's another idea I've mentioned before, that one can
always use the previous DVT if they wanted more room
the other thing, if a 60 period Stochastic is say less than 65
on a day the DVT would be triggering, I'd probably go ahead and
switch to the 60 Stochastic confirming below 50%. Most of the time
it won't confirm so will enable you to stay in.
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KISS SPX example of a 2 day bar chart
Posted by matt on 14th of Mar 2021 at 12:31 pm
On the weekend we added KISS to Multicharts - it's very similar to Tradestation. Anyway on MC you can make custom candles like a 2 day or 3 day chart, each candle is 2 days. you can't do that on TS, only daily and weekly, nothing in between.
The attached chart shows the daily on the left where you can see the DVT was hit on that last pullback, on the right is the 2 day KISS chart where each candlestick represents 2 days. Notice the DVT was not hit on the 2 day chart.
Currently I've been showing the daily and weekly charts, and while the weekly DVT's are wide, they are much wider than the daily charts for obvious reasons. The 2 day chart might be a happy middle ground in between where you get the benefit of both i.e.. .less reactive than the daily but more than the weekly.
I have not investigated history, just thought it was interested and sharing
Your a beast matt! Thanks
Posted by jonesy85 on 14th of Mar 2021 at 02:49 pm
Your a beast matt! Thanks for looking into another tool for the tool box.
thx man, yeah I'm always
Posted by matt on 14th of Mar 2021 at 03:38 pm
thx man, yeah I'm always thinking of little tricks etc.
that said pain in the butt converting that to Multicharts, would be much easier if Tradestation allowed you to make 2 day, 3 day charts vs only daily and weekly with no option in between
Thanks Matt for always looking
Posted by jared95 on 14th of Mar 2021 at 01:03 pm
Thanks Matt for always looking at things in multiple ways. An alternative to the 2-day may be to use the 2nd DVT as I've noticed strong trends tend to clip the first one and then reverse (perhaps further history is needed).
YES that's another idea I've
Posted by matt on 14th of Mar 2021 at 01:08 pm
YES that's another idea I've mentioned before, that one can always use the previous DVT if they wanted more room
the other thing, if a 60 period Stochastic is say less than 65 on a day the DVT would be triggering, I'd probably go ahead and switch to the 60 Stochastic confirming below 50%. Most of the time it won't confirm so will enable you to stay in.