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First, a killer trade:
Watch for a several-day low in the nasdaq comp with a close above (h+l)/2
and an increase in volume. We've had great results using a day like this to
trade index futures. You have several minutes to get the Nasdaq closing
numbers and crunch them.. For some reason the futures keep trading for
another 15 minutes so you can enter your order to buy MOC. (Even though a
Larry Williams flier I saw the other day calls this "Murder On Close".)
Usually pops up on the open and moves for a couple days. Or, if it doesn't
act right you can recognize the fizzle before getting hammered.
Even though it's designed for daily charts, we'd like to use a live feed to
automate the procedure... that is, to look at the Nasdaq numbers about 10
minutes after the close and generate MOC orders for the futures. But
there's a problem with the $TVOLQ (Nasdaq Total Volume). BTW you need an
indicator to look at it, in this case "v data3"...
Unfortunately if I set it up for intraday bars, tradestation cleverly gives
the incremental volume for the bar. Even though it's being delivered on a
cumulative basis. Too bad we need it on a cumulative basis. I'd like to see
it looking like a triangle and ramping up during the day. At time=1610 or
whatever I'd like to look at the total number and maybe generate a signal.
Now that I've given away my favorite trade, I would appreciate it if
someone could shed some light!
Thanks!!
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