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Continuing with John's interest in Time and Motion, attached is a modified
vertical line tool that will plot vertical lines every user defined interval
on all days or only the last day. Original code came from the
Omegalist...modified by bobr 4/2/2002 for alldays feature. Also attached is
a chart showing the Vertical Lines with Alldays input set to "1". In the
bottom subgraph is a custom two line indicator that plots the current day's
range compared to an average of the last synthetic day or in this case of 5
minute bars of 6.45X12=75. That could be multiplied again by 5 or 10 for a
longer interval. What it shows is how the current day's range compares to
the longer interval. If the redline is extending upward, then the price
trend is growing for that day. If the redline goes flat, then price range
has peaked(temporarily) and price has pulled back within its then establised
range. One key then is to watch for the flat spots and then for the range
expansion to continue.
have fun,
bobr
{vertical line between time-intervals on tick-charts
Origin: omega-list
Written by: Greg
Date found: 14 oct 97
----------------------------------------------------------------------------
----
{Thanks to Mark (and Rick) for finding a way to show time on tick charts.
Since I sometimes use paintbars to show other things, I adapted the
original code to draw a vertical line every N minutes instead of
painting bars. The code is attached.
This also works on 1-tick bars.
You can still use the paintbar strategy by setting the color input to
zero.
/Greg}}
{modified by bobr 4/2/2002 to plot all days or only last day}
input:rotate(60), color(tool_darkgray),alldays(0);
var:go(0),new(0);
if d>d[1]or currentbar=1 then begin
if go=0 then go=1 else go=0;
new=TimeToMinutes(Sess1StartTime)+rotate;
end;
if t <> t[1] then
if TimeToMinutes(t)>new then begin
if go=0 then go=1 else go=0;
new=new+rotate;
end;
var: handl(0);
if go=1 and alldays=0 then begin {bobr mod}
if color = 0 then begin
plot1(h,"time");
plot2(l,"rotate");
end else if date = LastCalcDate then begin
handl = TL_New(date,time,h+1,date,time,l);
TL_SetExtRight(handl,true);
TL_SetExtLeft(handl,true);
TL_SetColor(handl,color);
go = 0;
end;
end;
{added and modified by bobr}
if go=1 and alldays=1 then begin
if color = 0 then begin
plot1(h,"time");
plot2(l,"rotate");
end; {else if date = LastCalcDate then begin }
{var: handl(0);}
handl = TL_New(date,time,h+1,date,time,l);
TL_SetExtRight(handl,true);
TL_SetExtLeft(handl,true);
TL_SetColor(handl,color);
go = 0;
end;
{end;}
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 02, 2002 5:18 AM
Subject: Re: [RT] Time and Motion Trading
> There have been systems developed around those time periods. They are
> called the SmartMoney DumbMoney Index systems. The AM move is attributed
to
> the public and the PM to the pros whoever they are. The 10AM move,
usually
> a fade, is the end of the first 30 minute bracket used by the market
> profilers. Where the open is with respect to the previous day's value
area
> and the first two 30 minute brackets provide clues to the rest of the
> morning and sometimes the day. John Clayburg has a free Directional Day
> indicator at his website http://www.clayburg.com that plots a horizontal
> line at the average of the high and low of the first five minutes as well
as
> plotting a vertical line at the 60 minute mark after the open. Attached
is
> a chart of this along with two additonal horizontal lines that mark the
> first hour high and low. He writes about the use of this indicator in his
> recently published book "Four Steps to Trading Success". The amount of
> trading above and below the horizontal line up to the first hour
determines
> the directional bias, in theory at least for the remainder of the day. I
> found it to be a good read and picked up a few useful ideas in the book.
> Getting back to the 2PM trend, that is quite well known also as the "bond"
> move. By then the day's trend in interest rates is pretty well
established
> and the change in rates with respect to the previous day(s) is known and
the
> neural nets start doing their readjustments on intemarket analysis which
> makes its way into stock movement as the bond trading nears the end of its
> morning session. The infusion of new mutual fund money begins to have an
> effect late in the day also.....strong days often get another boost about
> then.
>
> bobr
>
> ----- Original Message -----
> From: "John Cappello" <jvc689@xxxxxxx>
> To: <Realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, April 02, 2002 2:22 AM
> Subject: [RT] Time and Motion Trading
>
>
> > Certain authors have written about the subject. The one I have been
> > casually following is an observation that the S&P market starts to
> > establish two major moves , one at 10 AM and another at 2 PM.
> >
> > I have just been observing the 10 AM move by logging in the cash
> > value at 10 AM and again at 10:15 AM. In 4 of the five days followed
> > the direction up or down movement was sustained to at least until
> > 11:15 for what appeared to be a profit.
> >
> > Has anyone tried to build a system around anything close to this
> > concept.?
> >
> > Ben made a beautiful post on calls with charts and all...no comments
> > from the peanut gallery likely because they did not understand it.
> >
> > P.S Quick response to recent blue sky and green grass people:
> >
> > The preponderance of sky particles are in the blue wave length and
> > not violet. I stand by my explanation previously posted . It is not
> > complicated.
> >
> > The plague was the Bubonic plague spread by rats somewhat like vermin
> > multiplying on this board as anticipated.
> >
> > Yes I know I had a typo of mnemonic.
> >
> > Now if only you could keep a trading post going as long as nonsense
> > this forum would be great again.
> >
> > Sincerely,
> >
> > John
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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