ES (energy perspective) coming into the weekend

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earik
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ES (energy perspective) coming into the weekend

Post by earik » Fri Aug 28, 2015 7:49 pm

Hi All,

I've been (slowly) working towards 2.23, and had a few minutes to check the ES from an energy perspective. One of the bugs that got fixed was the ability to do full 24-hour plots in energy without missing data or getting weird volume resets. So if your energy charts don't look this nice yet, don't worry, they will as soon as 2.23 shows up.

Anyway, I probably don't need to mention it to anyone here, but it's been an *interesting* week, to say the least. :? The whole point of the energy charts was to let us take away some of the white noise in regular price charts and see what is happening under the surface. Here's the last five days, on a 24-hour chart:
energy_coming_into_weekend_28aug2015.png
top chart is regular ohlc, bottom is energy
energy_coming_into_weekend_28aug2015.png (60.19 KiB) Viewed 13917 times
The top chart is just a standard OHLC bar chart. The bottom chart is energy. The bottom chart has been in a very clear downward trend for the last few weeks, and I've sketched the swings on there in red and blue. Red is lower highs, lower lows (down), and blue is higher highs, higher lows (up). In the most basic sense, markets will either move up, or they'll move down, and just watching how those highs/lows form will tell you which of the two possibilities you're in. From an energy perspective, the actual low of the crash happened the morning of Aug 26 (Wednesday), when those lines turned blue. You can see that this is a little later than what the actual price chart showed. The upward swing in energy lasted until yesterday towards the day-session close, at which point we resumed a downward trend, taking us into the big pink triangle.

On the regular chart I've marked off highs at A, B, C, D, and E. In the regular chart, point E (yesterday) took out all the other highs, showing all kinds of strength. On the energy chart, point E has taken out point D, but has not taken out A, B, or C, showing much less strength. The weekend is coming up, and everyone seems to be hedging their bets as far as which way this thing is going to go, which is why you see it moving sideways into a triangle. I also notice that the media is saying all sorts of things like "we're out of the correction! yay!", etc. I don't find the news particularly useful in trading, unless I read it backwards or upside-down. So if they're cheering the Dow saying we're done, that's actually not a bullish signal in my opinion, at least as far as news indications go, which is not very far.

Anyway, what does all this mean? In strong, clean moves, the energy chart will lead the price chart. But we have a case here where it's price that is leading to the upside, and energy dragging along. It doesn't necessarily mean we're going to crash again, but it does mean that the market is much weaker than it appears. Energy has also consolidated, and is going to break out of that triangle one way or the other. Again, doesn't mean we're going to crash, but I'd be really surprised if we don't see some big moves. The stage is set for some volatility. Should be good trading if you're on fast time frames. Just be cautious, and if you're a beginner trader or have a small account, take the size of the waves into consideration when you're putting on your trades. You can make a ton in markets like this, but you can also lose a ton, and it all can happen really fast. :)

Regards,

Earik

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earik
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Re: ES (energy perspective) coming into the weekend

Post by earik » Fri Aug 28, 2015 7:53 pm

Also, FYI, if a chart is too small or hard to read (like mine in this post), right-click on it and you can open it full-size in a new tab. This board shrinks them all down a little too small...

Regards,

Earik

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Re: ES (energy perspective) coming into the weekend

Post by Absstar21 » Sat Aug 29, 2015 9:46 pm

Nice work Earik, cant wait to try it out

Simon.B
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Re: ES (energy perspective) coming into the weekend

Post by Simon.B » Sat Aug 29, 2015 11:36 pm

Thanks Earik,

As far as last week goes - where do we call to order one of those at least once every few months ? :D

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Re: ES (energy perspective) coming into the weekend

Post by Feinberg » Sun Aug 30, 2015 12:59 pm

Hello Earik,

I had a heck of a time creating this graphic, particularly because, on my end, there was a gap on Monday, August 24th from 9:25 to 9:35am.

This is a 5 minute chart of Cumulative Volume.

To create this, I had to eliminate, ALL non-trading times, and I reloaded every single day as a double check.

I do like the feature of displaying data on Sunday so we can see continuous price action, so thank you.

However, on my end, I do see the pattern of lower lows, but my Cumulative Volume does not taper of on Friday like yours does.

Thank you for your post and your commentary to us.

Joseph

PS I also like the fact that our charts appear larger!
Attachments
IQCollectorCharts_CumulativeVolumerBars_150824-28c.jpg
IQCollectorCharts_CumulativeVolumerBars_150824-28c.jpg (76.01 KiB) Viewed 13888 times
Last edited by Feinberg on Mon Aug 31, 2015 11:58 am, edited 1 time in total.

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earik
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Re: ES (energy perspective) coming into the weekend

Post by earik » Sun Aug 30, 2015 3:49 pm

Hi Joseph,

I wasn't using a cumulative volume chart. I was using 'energy bars', which is quite different. Try that option and see if it looks more like mine...

Regards,

Earik

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Feinberg
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Re: ES (energy perspective) coming into the weekend

Post by Feinberg » Mon Aug 31, 2015 12:00 pm

Hi Earik,

Here is what I have for the Energy Bars like you have (5 minute chart) ...........

Thanks!

Joseph
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IQCollectorCharts_EnergyBars_150823-30a.jpg
IQCollectorCharts_EnergyBars_150823-30a.jpg (78.64 KiB) Viewed 13865 times

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Feinberg
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Re: ES (energy perspective) coming into the weekend

Post by Feinberg » Wed Sep 09, 2015 9:33 am

Here is an update of the Cumulative Volume (I have kept the trendlines the same from the previous post), but

Look at the Bar Chart.............

The ES is at the same level as it was on August 27th, but the Cumulative Volume is no where near it!

Go figure!

Compare the price action on September 3rd to the present, with the Cumulative Volume?

Joseph

IQ Collector_CumulativeVolume_150909a.jpg
IQ Collector_CumulativeVolume_150909a.jpg (153.06 KiB) Viewed 13820 times
BarChart-IQ Feed_150909a.jpg
BarChart-IQ Feed_150909a.jpg (143.81 KiB) Viewed 13820 times

dctommy
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Re: ES (energy perspective) coming into the weekend

Post by dctommy » Fri Jan 29, 2016 2:14 pm

earik wrote:Hi Joseph,

I wasn't using a cumulative volume chart. I was using 'energy bars', which is quite different. Try that option and see if it looks more like mine...

Regards,

Earik

earik:

i have v 2.23 I dont see energy bar options...how do we implement?

dctommy

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earik
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Re: ES (energy perspective) coming into the weekend

Post by earik » Thu Feb 04, 2016 3:20 pm

Hi Dc,

You need to be using the "IQCollector" data feed. You won't have access unless you're on that. You'll see a new tab in the chart settings form under that feed.

Regards,

Earik

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