FAQs for Emini-Watch.com

Top 5 FAQs

QWhat trading platform do you recommend?

AI recommend TradeStation for 3 reasons:

1. The datafeed is in-built – simpler, no fussing around.
2. Their indicator and system programming language, EasyLanguage, is extremely easy and logical.
3. Pricing is attractive if you use TradeStation as your broker (if not, it’s an expensive option).

I have used TradeStation for years – since the SuperCharts days and when the company was called Omega Research – and would never consider switching. But ultimately, the choice of trading platform is a very personal decision – all I can do is tell you what I use and why.

More information in the Best Charting Software videos here.

QWill you release the indicators for ThinkOrSwim, eSignal, Sierra Chart, etc.?

AUnlikely. Supporting multiple trading platforms is hard work and I’m a trader, first and foremost. Plus, many of these other platforms simply don’t have the functionality needed.

QDo the indicators also work with NQ, YM, TF and EMD?

AYes. The Better indicators and methodology also work for these symbols but you’ll need to adjust your tick charts to account for the lower transaction volumes. The suggested tick charts for each symbol are:

• NQ (mini-NASDAQ) – 150, 450 and 1,350 tick
• YM (mini-Dow) – 100, 300 and 900 tick
• TF (mini-Russell) – 100, 300 and 900 tick
• EMD (mini-S&P Midcap 400) – 25, 75 and 225 tick

I prefer to trade the Emini (ES) because of the higher volume and more Professional activity. You might consider taking signals off the Emini (ES) chart but placing orders on your preferred index futures (NQ, YM, TF or EMD).

QDo the indicators work for Forex?

AYes. The Better indicators and methodology also works for Forex. Stick to the futures contracts traded on the CME Globex exchange rather than the cash Forex markets. This way you get the volume data needed for the Better Momentum and Better Pro Am indicators.

More information in the Forex video here.

QHow often are the indicators updated and what does each update cost?

AFrom time-to-time the indicator code is improved and updated. Any updates to the indicators will be free to all existing customers. In addition, the indicators are kept up-to-date with new versions of the charting platforms.

However, this updating service is not indefinite and Emini-Watch.com reserves the right to stop updating the indicators for new versions of the charting platforms.

You can check details of the latest versions here.

Emini Trading Questions

QHow much do you risk per trade? What stop loss limits do you set?

AI use 4 point stops to trade the Emini. That equates to a 2.5% loss on my capital if the stop gets hit – and I use $8,000 of capital per Emini contract.

The stop loss order is automatically entered when I take a trade – and I NEVER move my stop loss, under any circumstances.

More information in the Exiting Trades: Profit Targets & Stop Loss Orders video.

QHow do you exit trades? What profit target to you set?

AI am a big fan of using profit targets to exit trades – I’d rather use the volatility of the market to exit at an extreme point, rather than trailing a stop and exit when the market is retracing.

I use 4 point profit targets and the order is automatically entered when I take a trade. A 4 point profit target allows me to capture the best part of a trending move and gives me a 1-to-1 risk-to-reward ratio.

More information in the Exiting Trades: Profit Targets & Stop Loss Orders video.

Plus more information in the Exiting Trades: 2 Other Options video.

QWhat is your average time in a trade?

AThat depends on how fast the market is moving. I’m looking to make 4 points and if the market is moving quickly I can be in and out in 5 minutes.

If the market is moving slowly, because it’s lunchtime or a slow day, that same 4 points can take an hour or more.

QAt what point do you decide to “bench yourself” and stop trading?

AFor me there are 2 trigger points for benching myself. Either I’m down a couple of points after 4-5 trades on a choppy day. Or my stop gets hit once (or twice) on a trending day – the stop getting hit is the market telling me I’m out of sync. In both cases, these are signals to stop trading.

More information in the Question of the Day here.

QIs it possible to trade the Emini in the after hours (i.e. outside of the day session)?

AYes, but with some caveats.

The Asian session that opens after the US session closes is usually quiet and should be avoided. However, when the Asian session closes and the European session opens, the liquidity increases and trend moves start to set up.

If you can’t trade the US session, then the European session would be the best alternative. Trend moves will be slower – what takes 15 minutes to happen in the US session will take 1 hour in the European session – and profit targets should probably be reduced from 4 points to 2-3 points. Lastly, the closer to the open of the day session the more liquidity and volatility there is – particularly around the data releases that come out 1 hour before the open.

More information in the Question of the Day here.

Trading with the ‘Better’ Indicator Questions

QDo you trade with the Better indicators yourself?

AAbsolutely – Yes. They are the only indicators I use to day trade the Emini. They have been developed over years of my own trading and because everything else I tried didn’t work, or only worked some of the time.

More information on the Emini-Watch.com methodology here.

QWhat indicators do you use in your Emini day trading?

AI use Better Sine Wave, Better Momentum and Better Pro Am.

These 3 indicators are non-correlated and give me the maximum information for making trading decisions. Better Sine Wave analyses price trends. Better Momentum analyses buying/selling volume pressure. Better Pro Am shows me when Professionals and Amateurs are active.

QWhat indicators/systems do you use in your Emini swing trading?

AI trade a sub-set of the Better TRIN systems with my own money management rules to limit the number of trades and protect profits.

In addition, the Better TRIN Oscillator is a very useful confirming indicator for swing or day trading. This approach is particularly powerful because the Better TRIN Oscillator is non-price based and therefore non-correlated with more traditional price-based indicators, such as MACD, RSI, moving averages, etc.

QCan I use just one of the indicators or must I have all of your indicators to trade?

AEach of the Better indicators can be used stand alone. However, you will have a much higher winning percentage by using all 3 Emini day trading indicators together. They are designed to work together as they measure 3 non-correlated data sets – price, volume and average trade size.

More information on the Emini-Watch.com methodology here.

QIf I wanted to try just one indicator which one would your recommend?

ABetter Sine Wave is my “flagship” indicator. I could not trade without it. It analyses price and determines if a market is in a trading range or breaking out into a trend. Then once a trend has developed, it signals when the trend is likely to come to an end. That’s the one I’d start with first.

QDo the indicators work on tick, volume, range, momentum and renko charts?

AThe indicators work particularly well on Tick Charts. In my Emini day trading I use 500, 1,500 and 4,500 tick charts. However, Better TRIN does not work on tick charts – TradeStation does not allow multiple data streams to be plotted on the same tick chart.

Volume charts are very similar to tick charts but Better Pro Am does not work on volume charts, so I suggest using tick charts instead.

Range bar charts are very useful in smoothing out market turning points. Better Sine Wave works particularly well on range bar charts. Better Pro Am works on range bar charts to identify Professional and Amateur activity. However, the volume accumulation/distribution patterns (e.g. No Demand) will not calculate correctly.

Momentum bar charts are very similar to range bar charts and the same caveats apply.

Warning regarding NinjaTrader: Real-time and historic range charts on NinjaTrader are difficult to match up because of the rules NinjaTrader uses in starting new bars. This can be mitigated by starting charts at a particular date and time rather than x bars ago. TradeStation does not have these problems.

Better Sine Wave works on Renko charts but Better Pro Am and Better Momentum do not. This is because (on TradeStation at least) the volume cannot be split between buying and selling.

More information in the Cycles on Volume, Range and Momentum Charts video.

QMy tick charts don’t match yours. What am I doing wrong?

ATick charts should match if they’re being generated on the same charting platform with the same data feed. For example, if you use TradeStation your charts should match mine exactly. Make sure that:

• Format Symbol > Settings > Time Zone = “Exchange” and
• Format Symbol > Properties > Session = “Regular Session”

After changing any of these settings re-load the data on your chart with View > Refresh > Reload (Ctrl+R).

If this does not work, it is possible that your data cache has been corrupted and needs to be re-loaded. Follow Tip #2 here.

Lastly, make sure you are using the correct TradeStation settings here.

On the other hand, tick charts generated on different charting platforms or with different data feeds will never match exactly. It’s annoying – but data feed providers often have different policies on filtering tick data or re-drawing tick charts at different starting points.

So you’re not doing anything wrong – it’s just a limitation of using tick charts. And in my opinion a limitation that is far outweighed by the advantages of using tick charts.

More information at the bottom of the Tick Charts feature article here.

QMy tick charts don’t match, live versus re-loaded fresh. Any suggestions?

AOnly come across this problem once with a user of the ‘Better’ indicators but I thought it was worth documenting his issue and the fix.

Real time charts were not plotting correctly – price action had occasional strange highs and lows and Better Pro Am didn’t match the daily update videos. But closing and reopening TradeStation would update the charts and make them correct.

The problem is caused by a combination of logging in “Sim” and having “Enable use of multiple CPU cores” selected in Chart Preferences. Logging in “Live” and deselecting “Multiple CPU cores” appears to fix the problem.

QMy tick charts are very slow to load. What setting can I change to speed them up?

AIn TradeStation, the cache used to store symbol data can get bloated or corrupted. This will result in tick charts being slow to load – particularly large tick charts like 13,500 or 40,500 tick.

The solution is to re-build your cache periodically. Personally, I do this every 2 to 3 weeks or as soon as I notice my tick charts are slow to load.

The steps for re-building your cache are explained in Tip #2 here.

QCan I edit the indicator code?

ANo. The code is protected and not able to be edited. However, indicator Functions are included in the downloads so you can program your own systems or indicators using the indicator outputs.

Currently, the Better TRIN code is unlocked and able to be edited or translated for another trading platform. But this is likely to change once the next version of Better TRIN is released.

QDo the indicators also work with NQ, YM, TF and EMD?

AYes. The Better indicators and methodology also work for these symbols but you’ll need to adjust your tick charts to account for the lower transaction volumes. The suggested tick charts for each symbol are:

• NQ (mini-NASDAQ) – 150, 450 and 1,350 tick
• YM (mini-Dow) – 100, 300 and 900 tick
• TF (mini-Russell) – 100, 300 and 900 tick
• EMD (mini-S&P Midcap 400) – 25, 75 and 225 tick

I prefer to trade the Emini (ES) because of the higher volume and more Professional activity. You might consider taking signals off the Emini (ES) chart but placing orders on your preferred index futures (NQ, YM, TF or EMD).

QDo the indicators work on Forex, Commodities, Bonds and Stocks?

AYes. The Better indicators and methodology also works for Forex, Commodities, Bonds and Stocks.

For Forex, stick to the futures contracts traded on the CME Globex exchange rather than the cash markets. This way you get the volume data needed for the Better Momentum and Better Pro Am indicators.

More information in the Forex video here.

For Commodities and Bonds the Better indicators work for both day trading and swing trading.

More information in the Commodities video here.

For Stocks, stick to swing trading or if you want to day trade stocks then switch to the Emini. If you want to swing trade stocks then use the indicators on daily, weekly and monthly charts.

QDo the indicators work on Emini trading outside of the day session?

AYes. The Better indicators work nicely on outside of day session hours. This is because they are designed to be used on tick charts and so “slow” periods are compressed and whipsaw trades avoided.

The only caveat is that Better Pro Am on the 4,500 tick chart needs 10-15 bars to adjust to the after hours average trade size. Obviously after hours trading is slower with less liquidity but you just need to adjust your trading style a little. I’d avoid the Asian session but some nice trades set up in the European session – maybe reduce your profit target though from 4 to 2-3 points per trade.

More information in the Question of the Day here.

QAre there any indicator input parameters that need to be changed or optimized?

ANo. Personally I hate optimized code and none of the indicator input parameters need to be changed based on the market traded or market conditions. The indicator inputs only control things like colors, alerts, etc.

QWhat indicator and chart settings do I use to duplicate your charts?

AThis video shows how to Duplicate my Emini charts.

Trading Platform Questions

QWhat trading platforms do the ‘Better’ indicators run on?

AThe ‘Better’ series of indicators are available for TradeStation, MultiCharts and NinjaTrader. The only exception is Better Trend Line is only available for TradeStation.

QWhat trading platform do you recommend?

AI recommend TradeStation for 3 reasons. First, the datafeed is in-built – simpler, no fussing around. Second, their indicator and system programming language, EasyLanguage, is extremely easy and logical. Third, pricing is attractive if you use TradeStation as your broker (if not, it’s an expensive option).

I have used TradeStation for years – since the SuperCharts days and when the company was called Omega Research – and would never consider switching. But ultimately, the choice of trading platform is a very personal decision – all I can do is tell you what I use and why.

More information in the Best Charting Software videos here.

QDo you use TradeStation as your broker?

ANo, but not because of any bad experiences with TradeStation brokerage.

I use Interactive Brokers as my broker. They have 2 features that are critical for my trading. First, you can have a “Universal” account where you can hold any security and change the currency that the securities are held in. This allows me to add a “currency overlay” to my trading. Once or maybe twice a year I change my holding currency to an appreciating or strongest one. I don’t want to hold assets in a depreciating currency.

Second, Interactive Brokers allows me to take a single trade and split the contracts traded between multiple accounts. In addition to these 2 features Interactive Brokers are very reasonably priced and I like their “fully electronic” approach and use of technology.

QWhat TradeStation data services do I need to subscribe to?

AFor Emini day trading you need the CME Data Package #1 (real-time data) which costs $25 per month (price as of March 2010).

More information on TradeStation data services here.

QDo the indicators work with TradeStation 2000i?

ANo. The latest version of the indicators are for TradeStation 9. Previous versions of the indicators are also available for TradeStation 7 and 8.

QDo the indicators work the same way in NinjaTrader and MultiCharts?

AYes, the code is identical between TradeStation, NinjaTrader and MultiCharts.

Obviously the “look and feel” of the charts will be different and tick charts from different data feeds will never match exactly. But the indicators should be very similar between the different charting platforms.

More information at the bottom of the page here on Tick Chart Differences.

QWhat data feeds do you recommend for NinjaTrader and MultiCharts?

AKinetick, TradeStation, eSignal, Zen-Fire and Vision Financial are recommended. Kinetick, TradeStation and eSignal cover equities, futures, forex and indices. Zen-Fire and Vision Financial only cover futures.

In the case of Kinetick, make sure you are using the real-time data feed, not just the free EOD data.

I do NOT recommend iQ Feed from DTN, as customers have reported issues when switching between charts.

I do NOT recommend the Interactive Brokers data feed as it is not a full tick-by-tick data feed.

More information at the bottom of the page here on the Interactive Brokers Data Feed.

QDo the indicators work with the free version of NinjaTrader?

AYes. The indicators are locked code, but they do work and can be imported into the free version of NinjaTrader.

QDo the indicators work with NinjaTrader 6.5?

AYes. The latest version of the indicators are for NinjaTrader 7. But previous versions of the indicators (except Better Momentum) are also available for NinjaTrader 6.5.

QWith NinjaTrader how do I fix “Import failed. File likely corrupt”?

AThe file is not corrupt, you just need to unzip the downloaded file first.

Once you have unzipped the file you should be able to see the Installation PDF and another zip file that you import into NinjaTrader.

QWhen importing into NinjaTrader I get an error message. Can you help?

AHere are a couple of handy NinjaTrader fixes:

• New versions of the ‘Better’ indicators may conflict with old versions. To fix this, remove the old versions using File > Utilities > Remove NinjaScript Assembly … then re-start NinjaTrader and re-import the new versions of the indicators.
• Your indicator default settings and chart templates may also be calling old versions of the ‘Better’ indicators and causing conflicts. Remove any old settings and templates saved under Documents/Ninjatrader 7/Templates/Indicators/ and Documents/Ninjatrader 7/Templates/Charts/. Then re-start NinjaTrader.
• If the new versions are still conflicting with the old versions, remove any old versions of the indicators from your charts too.
• Removing old versions of charts may be necessary too. Close Ninjatrader then go to Documents/Ninjatrader 7/Workspaces/ folder and rename the file _Workspaces to _Workspaces.old. Then re-launch Ninjatrader, go File > Workspace > Open Workspace > select the workspace then reload a chart.
• If NinjaTrader freezes try Tools > Edit > Indicator and then hit F5 to re-compile the indicators. This should restore NinjaTrader.
• If necessary upgrade to the lastest version of NinjaTrader.

QDo the indicators work with MultiCharts 5.5 and 6.0?

AYes. The latest version of the indicators are for MultiCharts 8 (64 bit). But previous versions of the indicators are also available for MultiCharts 5.5, 6.0 and 7.0.

QDo the indicators work with MultiCharts .NET, DT or MCFX?

ANo. Unfortunately, MultiCharts restrictions prevent the ‘Better’ indicators running on those versions of MultiCharts. MultiCharts DT (Discretionary Trader) does not allow you to import locked indicators and MCFX does not allow you to import indicators compiled for MultiCharts. However, the indicators do work with the normal version of MultiCharts.

QWill you release the indicators for ThinkOrSwim, eSignal, Sierra Chart, etc.?

AUnlikely. Supporting multiple trading platforms is hard work and I’m a trader, first and foremost. Plus, many of these other platforms simply don’t have the functionality needed.

QCan the indicators be installed on more than one computer?

AYes. Multiple computers are no problem.

QDo you need my trading platform user id?

ANo. The code does not require your trading platform user id to work.

QWill the indicators expire in the future?

ANo. There are no time restrictions built into the code.

QAre there any minimum computer system requirements to run the indicators?

AThere are no specific recommendations on computer specs but the best advice is to get something current and fast. That doesn’t mean a custom built machine just a high spec current machine. The two most critical components are a fast Internet connection (10+ Mbps) and sufficient RAM (4-8 GB).

I use tick charts for my day trading and they are more computer intensive than time-based charts. So I’m pushing my machine a little harder than most traders. On the other hand, I only have 3 windows open during the trading day, following 1 instrument – while other traders have dozens of windows open, following dozens of instruments.

More information on Running charting software.

More information on TradeStation system requirements.

QHow many monitors do you recommend? Can it be traded on a single laptop?

AOne monitor is all you need – and I trade with a laptop (17″ MacBook Pro).

QDo the indicators work on a Mac?

AYes. In fact I run TradeStation on a Mac using Parallels software – and it works brilliantly! I would never go back to a Windows PC.

More information on What About Trading Software for Mac?

Better Momentum Questions

QWhat is the difference between Better Momentum and Better Momentum SM?

AThe Better Momentum indicator plots the buying and selling volume waves that you see at the bottom of my charts, plus the Divergence, Exhaustion and Flush signals.

The Better Momentum SM (“ShowMe”) plots just the Divergence, Exhaustion and Flush signals on the price bars themselves.

Both indicators have settings that allow you to turn the Divergence, Exhaustion and Flush signals on and off independently.

QWhen are the bullish (red) and bearish (white) Divergence signals plotted?

AThe Divergence signals are plotted when the momentum line approaches the zero line. This means that the signals can be plotted retrospectively. The delay is not usually an issue since the Divergence signals lead turning points.

On fast charts such as a 500 tick bar chart the delay is inconsequential. With longer day trading time frames, such as 4,500 tick bar charts, the signal can be anticipated and when it arrives is usually confirmation.

QWhen are the Flush (yellow) signals plotted?

AThe calculation of Flush signals is very similar to the Divergence signals. They therefore also have a delay as explained in the FAQ above.

QWhen are the Exhaustion (cyan blue) signals plotted?

AThe Exhaustion signals are always plotted with a 1 bar delay. This 1 bar delay is necessary in confirming Exhaustion buying or selling.

QHow do you confirm entry signals and ignore early divergence signals?

AI look for 3 things. First, I like to see that Exhaustion Volume has recently taken place. This indicates “all the buyers have bought”, in the case of a market top.

Second, I look for Professional activity at price extremes, showing they’re taking profits and reversing their positions.

Third, I look for a turning point using the Better Sine Wave indicator – either an “End of Trend” signal in this time frame or a cyclical turning point in the higher time frame.

More information is provided in the Better Momentum trading videos.

QWill my charts run slower if I use Better Momentum?

ANo, absolutely not.

The old version of Better Momentum for NinjaTrader did slow down the loading of charts. However, the NinjaTrader algorithm has now been totally re-written and does not slow charts down.

QIs the NinjaTrader version of Better Momentum the same as TradeStation?

AYes, they are identical. You will see the waves of buying and selling plus get the Divergence, Exhaustion and Flush signals.

QDoes Better Momentum Any work with any indicator?

AYes, as long as you’re using a Function version of that indicator.

TradeStation and MultiCharts have Function versions of the most common indicators like RSI, MACD, etc. If you’re using a less common indicator you might have to transform it into a Function version first. The EasyLanguage Reference Guide is the best place to get information about how to do this.

The Better Momentum Any indicator is not available with the NinjaTrader version of Better Momentum.

Better Pro Am Questions

QWhat is the difference between Better Pro Am and Better Volume?

AThe Better Pro Am PaintBars (blue and yellow bars on my charts) identify Professional and Amateur activity using average trade size. Professionals trade in size; Amateurs trade in singles and doubles. So analyzing average trade size directly identifies Professional and Amateur activity.

Better Volume infers Professional activity by looking for large volume but relatively small range bars – “High Churn” bars. The assumption is that Professionals can enter/exit without moving price significantly. Part of the reason they can do this is that they enter/exit at price extremes. Amateurs are seen on low volume bars.

In my own trading I’ve switched 100% to Better Pro Am from Better Volume.

QBetter Pro Am PaintBar turns most of my bars yellow. What am I doing wrong?

ACheck Format Analysis Techniques > Better Pro Am PB > General, make sure the "Update values intra-bar" box is un-checked. The indicator should just be calculating when the bar closes, not continuously while the bar is open.

Also check Format Symbol > Settings > For volume use Trade volume, not Tick count. The indicator needs to be referencing real volume traded data.

QWhy doesn’t the RAMBO (R) text print directly above/below the Amateur bar?

AThis is a TradeStation glitch/limitation – text and trend lines can only be plotted to the nearest minute, not second.

When the market is moving quickly the signal text (R) is plotted at the nearest whole minute bar and not above or below the real signal (Amateur bar). Apologies, nothing Emini-Watch can do.

QWhat is the difference between Better Pro Am and Better Pro Am PB?

AThe Better Pro Am indicator plots the Profit Taking, Stopping Volume, No Demand, No Supply and RAMBO volume patterns. These patterns indicate Professional accumulation and distribution and, in the case of the RAMBO pattern, Amateur led breakouts.

The Better Pro Am PB is a PaintBar that identifies Professional and Amateur activity using the average trade size.

QCan I use the Better Pro Am indicators on candlestick charts?

AYes. The volume accumulation and distribution patterns are plotted as text above/below the price bars. In addition, there is a ShowMe version of the PaintBar indicator (that plots the Professional/Blue and Amateur/Yellow bars) that plots the signals as dots above and below the price bars.

QWhen are the ShowMe dots plotted above (or below) a bar?

AThe ShowMe dots are plotted above a bar if the market is in an uptrend (and below a bar if in a downtrend). The indicator uses a very simple algorithm to calculate trend and should not be relied on for determining trend direction.

The ShowMe version of the indicator is only provided as a convenience, primarily for users of candlestick charts.

QWhen are the volume patterns and PaintBars plotted?

AThe volume patterns and PaintBars are plotted at the close of the bar.

QHow do you know whether Professionals are buying or selling?

AThe easiest way to answer this is with a video. Around the 6 minute mark I explain how I interpret Professional and Amateur activity and whether it is buying or selling.

More information in the Professional buying or selling video here.

QHow do you confirm entry signals and ignore early volume pattern signals?

AI look for 3 things. First, I like to see that Exhaustion Volume has recently taken place. This indicates “all the buyers have bought”, in the case of a market top. Second, I look for Professional activity at price extremes, showing they’re taking profits and reversing their positions. Third, I look for a turning point using the Better Sine Wave indicator, either in this time frame or higher time frames.

More information is provided in the Better Pro Am video tutorials.

QHow do I change the text size of the Better Pro Am signals?

AIn TradeStation go:

1. Select Drawing > Text and write some text on your chart
2. Right click the text and Format the font, size and color
3. Tick the “Set as default” box > OK
4. Right click and Remove the text
5. Ctrl + R will update the chart with the new text formatting

Plus any new chart will have the new text formatting.

QIs there a trading manual in PDF format for Better Pro Am?

ANo. There are trading manuals in PDF format for Better Sine Wave and Better Momentum. However, for Better Pro Am I have decided to just have the instruction videos with a guide (in text and PDF formats) to help you find particular sections of the videos.

Ideally I’d like all users to have Better Sine Wave, Momentum and Pro Am – since they are designed to work together – and so 3 manuals would be overkill. Eventually there will be 1 manual that covers all three indicators.

QDoes Better Pro Am use different trade size levels for day and after-hour sessions?

ABetter Pro Am is dynamic and no fixed trade size levels or session times are coded into the indicator. At the end of the day session Better Pro Am will take a few bars to “re-calibrate” with the lower trade sizes in the after-hours. So a few Amateur yellow bars will show immediately after the close.

Better Sine Wave Questions

QWhat is the difference between Better Sine Wave and Better Sine SR?

AThe Better Sine Wave indicator plots the sine wave that you see at the bottom of my charts. The Better Sine SR plots the support and resistance levels (plus breakouts, pullbacks and end of trend signals) on the price bars themselves.

QWhen are the Support (red) and Resistance (white) lines plotted?

AThe Support and Resistance lines are plotted at the close of each bar. They are real time and NOT adjusted retrospectively. New levels are plotted when the Better Sine Wave crosses and price confirms the turning point.

QWhen are the “End of Trend” (End) and “Pull Back” (PB) signals plotted?

AThe signals (End and PB) are plotted at the close of the signal bars. They are real time and NOT adjusted retrospectively. More details of how the signals are generated are given in the Better Sine Wave trading videos, enabling traders to anticipate when the signals will be plotted.

QHow do you differentiate between turning point overshoots and real trend breaks?

AI look for 2 things. First, I check to see if the market is close to a turning point in the higher time frames. If so, the chances are greater that this is just an overshoot. Second, I look for confirmation from my volume pattern indicators. For example, volume momentum divergence patterns and Professional bars are usually a sign that the market is about to change direction.

QWhat happened to the Jurik moving average (JMA) version of Better Sine Wave?

AIn the latest version of Better Sine Wave, price data pre-processing is achieved with a proprietary algorithm. This means that the Jurik moving average (JMA) is no longer required and the JMA version of Better Sine Wave has been discontinued. Now only one version of Better Sine Wave is supplied and the additional cost of buying the JMA has been avoided.

Better Trend Line Questions

QDo you use Better Trend Line in your trading?

ANo, not any more. Better Trend Line is a very simple and elegant indicator used for signalling trades. However, it has been replaced by Better Sine Wave in my trading. One of the things I hate is too many indicators which over-lap each other. So, for that reason I no longer trade with it. However, it’s still a very robust and useful indicator – particularly if you’re just starting out trading.

QWhat do you recommend for entry after a breakout from consolidation?

AAs the market breaks I enter a trade "at market" – real breakouts will move fast and without a pullback. I anticipate the direction of the breakout by looking at 3 things. First, the breakout is usually in the direction of the trend that preceded the consolidation. Second, I check the trend direction of the next higher time frame. Third, I look for confirmation from my volume pattern indicators.

QCan I use the Better Trend Lines and Better TRIN Indicators together?

AYes. The Better TRIN Indicators work extremely well in confirming trend direction.

QCan I use the Better Trend Lines on candlestick charts?

AYes. When adding the Better Trend Lines to a new chart go Format > Inputs > Change CandleStick to True. Then go View > Chart Analysis Preferences > General > Untick "When a study paints a candlestick bar, paint the body & wick".

QHow does the Better Trend Line function work?

ATo call the Better Trend Line function with a pivot strength of 4, for example, use the following EasyLanguage statement: Value1 = _BetterTrendline(4); Value1 will return 3 possible results: +1 for up trend, -1 for down trend and 0 for congestion.

Better TRIN Questions

QOnly 1 trading system was included. Where are the 5 systems mentioned?

AThe 5 trading systems are all programmed in the one code. Each system has a True/False input to switch each one on and off. Look for the input values TypeA to TypeE. You can use the systems individually or combined. When combined, the systems give a sense of market direction too and advanced money management strategies can be tested.

QI'm getting the error message “Missing data 2,3″. What am I doing wrong?

AFollow the installation instructions that come with the code. Set up your chart with 3 data streams: Emini (@ES.D), NYSE TRIN ($TRIN) and NASDAQ TRIN ($TRINQ). Make sure each data stream is set to local time in TradeStation.

QI'm getting "You may not mix symbols with different delays". What’s wrong?

AMake sure you are subscribed to real-time data for CME Eminis, NYSE and Nasdaq and that each data stream is set to local time when added to a chart. TradeStation takes anywhere from a few minutes to a few hours to update new data settings and you will need to restart TradeStation for the requests to take effect.

QWhy do some of the Better TRIN ShowMe dots turn blue?

AYou're getting blue dots because the indicators are updating intra-bar. Go to the indicator format settings and under the General tab, un-tick the “Update value intra-bar” box at the bottom.

QWhat’s the difference between Better TRIN Indicator and Better TRIN Oscillator?

AThe Better TRIN Indicator measures buying and selling pressure at a particular point in time. For example, a daily reading of +50 indicates moderate buying during that day. The Better TRIN Oscillator shows the waves or cycles of buying and selling. For example, if the oscillator turns up from -100 and starts rising, this indicates the market has bottomed and traders are starting to buy.

QDo the indicators and systems work with NQ, YM, TF, EMD, SPY and OEX options?

AYes and No. The indicators and systems also work for the mini-NASDAQ (NQ), mini-Russell (TF) and mini-S&P Midcap 400 (EMD). Instead of inserting ES in a chart, substitute the NQ, TF or EMD. However, because of TradeStation software restrictions you cannot plot TRIN data with the mini-Dow (YM), SPY or OEX options. But the Better TRIN system signals can still be taken on any index market – just trade the YM, SPY or OEX options instead of the Emini.

QDo the TRIN indicators work for day trading, i.e. on intra-day charts?

AYes. The indicators have been updated to work on intra-day charts. The only exception is the TRIN divergence warning signal does not apply to intra-day charts.

QDo the TRIN systems work for day trading, i.e. with intra-day signals?

ANo. The Better TRIN systems are not designed for day trading, only swing trading. If you want to use the Better TRIN Oscillator for day trading, look for divergence patterns between the oscillator and price for good entry points.

QWhat system settings do you use for the Better TRIN example systems?

A“Format Strategy” settings are: TypeA to TypeE = True; DoubleUp = True; Using both NYSE & NASDAQ TRIN data; Look inside bar back-testing disabled. “Properties for All Strategies” settings are: Allow up to 50 entry orders in same direction regardless of entry; Trade Size = 1 contract; Commissions & Slippage = 0; MaxBarsBarck = 50; Max Contracts per Position = 65,000. “Format Symbol” settings are: @ES.D symbol; Daily data; Data from 1998 but NASDAQ TRIN data not available that far back and so signals only generated from December 2001.

QWhat is the logic behind the “Double Up” input in the example TRIN systems?

AThe "Double Up" input allows the systems to double the number of contracts traded on the next trade after a losing trade. This is a useful trick in improving system performance, however, from a statistician's perspective it is not logical. They would argue that all trades are independent and that the probability of a winning trade after a losing trade is no different than after a winning trade. However, from a practical perspective, if you have a robust system that does not have long losing streaks and you are sufficiently capitalized then the "Double Up" input will improve system performance.

QDoes the indicator use NYSE or NASDAQ TRIN data?

ABoth. In TradeStation subscribe to both NASDAQ Level 1 and NYSE data. Each real-time data feed only costs $1 per month. These settings can be found by logging into your TradeStation internet account and going to TradeStation Platform > Add/Remove Data or Features. TradeStation takes anywhere from a few minutes to a few hours to update new data settings and you will need to restart TradeStation for the requests to take effect.

QDo the Better TRIN indicators use TradeStation's new TRIN data symbols?

ANo. The Better TRIN indicators just use the NYSE and NASDAQ TRIN data symbols ($TRIN and $TRINQ). The new TRIN data symbols cover the Dow ($TRINI), S&P500 ($TRINSP), Russell 2000 ($TRINRL) and all US indices ($TRINUS). They are a good idea but do not have sufficient back data to be useful yet.

QDo the TRIN indicators work on tick charts or share charts?

ANo. TradeStation does not allow multiple data streams to be plotted on the same tick chart or share chart.

QAre the TRIN indicators and systems only available for TradeStation?

AThe TRIN indicators and systems have only been coded for TradeStation EasyLanguage. However, the code is unlocked and a Word document with the code is included as part of the download. The code is not complicated, so if you have experience coding you could translate it for your own trading platform.

Purchasing & Installation Questions

QHow much do the indicators cost?

ABetter Sine Wave, Better Momentum and Better Pro Am cost $167 each. All 3 indicators are available at a 15% discount in a package deal for $425. Better TRIN is also $167, but Better Trend Line and Better Volume for NinjaTrader cost $67 each.

QDo you offer a discount for multiple indicators?

AYes. If you purchase Better Sine Wave, Better Momentum and Better Pro Am together there is a 15% discount. More information here on the package deal for $425.

QI bought one indicator. Can I get the discount when I buy the other two?

ANo. Unfortunately, the discount is only available if you purchase Better Sine Wave, Better Momentum and Better Pro Am together.

QHow do I pay by credit card?

AOn the shopping cart page, once you’ve filled in your name, email and address, hit the green “Submit Order” button.

Please ignore the “You have selected PayPal as your payment provider for this transaction” notice – this is very confusing, we know. But unfortunately it is beyond our control.

Then on the next page click the “Don’t have a PayPal account?” link and fill in your credit card details.

QI bought NinjaTrader versions of the indicators. Can I get TradeStation ones free?

ANo, not free but at a 50% discount. Email me via the contact form and I’ll forward a discount coupon code.

QHow long will it take to receive my indicator after payment is made?

ALiterally seconds. Once payment is confirmed you are immediately sent to a download page where you download a zip file with indicator and instructions PDF. Then you’ll receive a password by email to use the indicator.

Very occasionally the email with password is delayed (because of aggressive email filters) – but by no more than 15 minutes. If this happens you to, just use the contact form to get in touch and we’ll send a password email immediately.

QWill I get a DVD and manual in the mail?

ANo. All the files are delivered electronically.

Once you purchase, you’ll be sent to a web page with a download link which you click to download a zipped file. The indicator code and installation instructions in PDF format are included in the zipped file. You’ll also be sent an email with link to a web page where all the video tutorials are available to be watched online.

QWhat is the installation procedure for the ‘Better’ indicators?

AAll the indicators come with installation instructions in PDF format. These instructions are easy to follow and show you exactly what steps to go through. That being said, the ‘Better’ indicators are no different from other standard indicators and are easily installed – the detailed instructions are for peace of mind and to specifically help new traders.

In addition, online videos are included to show how to install the indicators on TradeStation. The steps for NinjaTrader and MultiCharts are very similar.

QCan I get help if I have a technical problem installing?

AYes, absolutely. If you have any technical difficulties installing then just send an email and I will help. Don’t forget to follow the installation instructions first and to specifically check the charting platform version you are using.

QIs the price a one-time fee or recurring monthly charge for the software?

AThere is just one payment for each of the indicators and no recurring charges.

However, in the future the ‘Better’ indicators will be moved to a subscription model with monthly charge. At least 6 months notice will be given before this change takes effect.

QHow secure is the payment process?

AAll payments are processed by PayPal with their industry leading focus on data encryption and customer protection. PayPal, a division of eBay, has been providing online payment services since 1998.

QDo all the fields in the payment information need to be filled in?

AYes, but we’ve kept the amount of information required to the minimum.

QCan I buy if I live outside the US?

AYes. All you need is a credit card or PayPal account.

QI’m an Australian resident. Does the price include GST?

AYes. If you are an Australian resident the price includes GST and you can claim this against GST you owe the ATO, if you are a business and registered for GST.

The invoice you receive on purchase is a tax invoice for GST purposes and our ABN is noted. However, the specific amount of the GST is not shown in the invoice due to constraints of our shopping cart software.

QI don’t have a credit card. How else can I pay?

APayments by PayPal and bank transfer (eCheque/eCheck) are also accepted.

QHow often are the indicators updated and what does each update cost?

AFrom time-to-time the indicator code is improved and updated. Any updates to the indicators will be free to all existing customers. In addition, the indicators are kept up-to-date with new versions of the charting platforms.

However, this updating service is not indefinite and Emini-Watch.com reserves the right to stop updating the indicators for new versions of the charting platforms.

You can check details of the latest versions here.

QHow are indicator updates handled?

ACustomers are emailed as soon as a new version of one of the ‘Better’ indicators is available. The email will include a download link plus installation instructions. You can check details of the latest versions here.

QI had a hard disk crash and lost my indicators. What should I do?

AEmini-Watch.com now charges a service fee to replace lost files and passwords. This change has become necessary because of the large number of such time consuming requests.

Use the shopping cart link below to make payment and then send an email via the contact form with details of the files and passwords you need.

Shopping cart link: Service Fee to Replace Lost Files and Passwords.

More information about online backup here: The 5 Step Trading Backup Plan.

QA virus has been detected in my download. What should I do?

AEmini-Watch.com does not send out viruses – period.

When virus scanners like Norton Antivirus or Yahoo.com web email come across a file they do not recognize (like a trading platform import file) they automatically default to calling it a virus. Please don’t waste my time by sending an email telling me I have sent you a virus.

QI downloaded a “zip” file. How do I “unzip” this file?

AUse a free zip utility program, like 7-Zip or Filzip, to “unzip” the downloaded files.

QDo you offer free trials?

ANo. Once you have downloaded any of the ‘Better’ indicators there is no way of “returning them” – you can use them forever as there are no time restrictions built into the code. Instead, the indicators are offered at very reasonable prices.

QWhat is your refund and return policy?

AIn general, there are no refunds. The ‘Better’ indicators are electronic products and once you have downloaded any of the indicators there is no way of “returning” them. However, in exceptional circumstances Emini-Watch.com will consider a refund for genuine reasons and at our discretion.

If you are unsure about purchasing any of the ‘Better’ indicators, please hold back – Emini-Watch.com is probably not for you and you might be better off finding a more full service provider.

Subscribing Questions

QHow do I subscribe to the free daily updates from Emini-Watch.com?

AJust input your email address in the form in the sidebar and hit the Subscribe button. You’ll be asked to input a “captcha” series of characters and then you’ll be sent a confirmation email.

You can also subscribe via YouTube, Twitter, Facebook, Google+ and RSS feed. Follow this link to access the other subscription options.

QHow do I unsubscribe from the daily updates?

AAt the bottom of every daily update email there is a 1-click unsubscribe link. Just click on that link and you’ll automatically be removed from the mailing list.

Emini-Watch.com hates spam and we would never send you emails you did not want to receive.

QHow do I change my email address for receiving the daily updates?

AAt the bottom of every daily update email there is a 1-click unsubscribe link. Just click on that link to unsubscribe that email address. Then input your new email address in the form in the sidebar and hit the Subscribe button.

QCan I be notified of new daily updates by YouTube, Twitter, Facebook, Google+ or RSS?

AYes, you can be notified of new daily updates by YouTube, Twitter, Facebook, Google+ and RSS feed.

Follow this link to access all the Emini-Watch.com subscription options.

QCan I watch new daily videos on YouTube or on my iPhone or Android phone?

AYes, new daily videos are posted to YouTube and you can subscribe to the Emini-Watch channel there. You can also watch these YouTube videos on your iPhone or Android phone. The video quality is almost as high definition as on the Emini-Watch.com website.

Follow this link to access all the Emini-Watch.com subscription options.

QThe emails are coming through a day late. What’s wrong?

AI put out an Emini trading update usually every other day – more frequently when the market makes a significant move. The updates are published to the website around 7pm Chicago time (earlier if I’m in Hawaii, later if I’m in Australia). The YouTube, Twitter, Facebook and Google+ sites are then updated shortly after.

Emails are only distributed once a day – at around 7:15pm Chicago time. If I miss this window to update the website then the emails are held over for another 24 hours. If this happens the emails will appear to be one day “late” – but all that has happened is I have missed my window for broadcasting the update by email.

If you want to be notified the minute an update is posted to the website, then Subscribe to the RSS feed or other channels.