Friday, April 21, 2006

Template

I have been asked to post the template I'm using on my charts.
Well the Chartprogram is called Ensign Software (I'm not affiliated with them, I just use it for about 5 years now) and the Template I currently used can be downloaded here. Place it in the \Ensign\Template1 subfolder on your harddisk.
The Lines you see are the Highs and Lows of the previous 120, 240, 300, 480, 600 and 720 minute candles. The thicker the line the longer the timeframe. And the reasoning behind the approach I currently use is, that the more money you move around, the longer the timeframe you trade. Think of moving an oiltanker around. You need space and time to do that. You can't turn on a dime or you create huge, really huge waves in the market. And if you are such a big boy, you watch longer timeframes and respect the Highs and Lows formed there. Nothing else I'm doing now on my short term charts. I look for reversal signals, when the big boys think yes here is Support or Resistance.
Globetrader_16

3 comments:

Anonymous said...

what timeframe chart(s) do you usually trade for euro-fx? with the posted template...

Globetrader said...

I usually trade a Range 5 or Range 10 chart. Meaning each bar is 5 or 10 ticks length. But I use the same template on all intraday timeframes upto 240min, on tick and volume charts as well.

Globetrader said...

Addon. The posted Russel Chart is a Range 100 chart, which in effect is the same as a Range 10 chart on other instruments. To display 1 full point / bar in the russel I have to select a Range 100 chart in Ensign even if it is comprised only of 10 ticks