- Open a new chart and set the symbol to @ES.D.
- Under the Settings tab, set the Interval (time-frame) to Daily.
- Under the Style tab, set the Bar type to HLC Bar or OHLC Bar.
- Now, from the top menu, click on Insert, and then click on Activity Bar
- Select "Volume Distribution" and make sure the "Prompt for Format" check box is checked
- Under the Inputs tab: set the ApproxNumRows to 100, set CycleColors to False. set the DefaultColor to Red (or whatever color suits you) and set BlockSize to 10
- Finally, under the Data Settings tab, set the Interval to 1 minutes and Days Back to 60 (or however far back you want to go).
That's it! You should now see the following chart:
Hope this helps. Happy charting!
Posts
3 comments:
To continue subject on preparation, it all depends on the method you trade. I do not prepare for the next day trading as I do not trade of the S/R pivots. I do trade 2-5 times daily of the price and volume of present day as long as price and volume converge to give me a long/short signal.
In fact at this point I beleive S/R have no value as it prevents traders from taking a price pattern trades if they do not occur at or near the daily pivots....just think how many times trades got away from you because they are not at those pivots...but I respect all the ideas that make money...
Yea, the point of the post was that a trader should so some sort of prep work/homework prior to market open.
Regarding pivots; I don't use floor pivots, but if enough people look at those pivots, it becomes a self-fulfilling prophecy. The levels I look at are price and volume created, and from my experience, those levels are significant in the market.
But like you said, we all have our own methods, and that's what makes a market :)
Thanks, I always wanted to know how to do that.
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