Emini Charts – How to Duplicate My “Better” Emini Charts

How to Duplicate My "Better" Emini Charts (14:55)

This is a quick guide on how to duplicate my Emini charts with the "Better" indicators.

Chart Data

For Emini day trading you need to be subscribed to TradeStation's real-time Emini data feed. I subscribe to the CME Data Package #1 that costs $25 per month (as of May 2010). All data subscriptions are controlled by logging into your TradeStation account online and selecting "Add/Remove Data or Features".

Then I use the @ES TradeStation symbol that plots the Emini continuous contract. For tick charts (e.g. 1,500 tick chart) I plot both day and night sessions – the TradeStation symbol is @ES. For minute charts (e.g. 135 minute chart) I plot just the day session – the TradeStation symbol is @ES.D. The Format Symbol settings for all charts are:

• For volume use "Trade volume"
• Time zone setting is "Exchange"

In addition to the real-time Emini data I also follow a number of other markets and indices. I subscribe to real-time data for S&P and PBOT Indices, NASDAQ, NYSE and OPRA. Plus delayed data for CBOT, COMEX and NYMEX.

Real-time Forex data is free on TradeStation. Most of these other data feeds only cost $1 per month. My total monthly data feed charges are $36. It's a cost of doing business and part of the entry fee for being a trader – so I live with it.

Indicator Settings

Emini Chart: Indicator Settings

Each chart has exactly the same indicators with exactly the same settings:

• Better Momentum: UseUpTicks = True, UsePrice = False, DivergenceAlert = True, Exhaustion = True, ExAlert = False, ExLookback = 60
• Better Momentum ShowMe: UseUpTicks = True, UsePrice = False, DivergenceAlert = False, OffsetMulti = 0, Exhaustion = False, ExAlert = False, ExLookback = 60
• Better Pro Am: RAMBO = True, NoD = True, ProfitTake = True, StoppingVol = True, All Alerts = False, Space = True, SpaceMulti = 1, TextSpaceMulti = 0.75
• Better Pro Am PaintBar: ProAlert = False, AmAlert = False
• Better Sine Wave SR JMA: BreakOut = False, PullBack = True, EndOfTrend = True, All Alerts = False, JMA (Jurik Moving Average) version of indicator
• Better Sine Wave JMA: ShowZero = True, JMA version of indicator
• Vertical Line Time: Marks beginning of day session at 8:30am CT (link to .ELD)

All indicators update at close of bar, not intra-bar. Better Pro Am replaces Better Volume. The Format Window settings are:

• Bar spacing = 4
• Space to the right = 5 bars
• Show session breaks

Multiple Time Frame Charts

Emini Chart: Multiple Time Frames

I use 3 Emini day trading time frames and set up my charts side-by-side:

• 4,500 tick: used to determine trend
• 1,500 tick: primary time frame for signals
• 500 tick: detailed chart for timing entry

In addition to these 3 charts I also have a set of higher time frame charts that I occasionally check during the day session (labeled "Emini LT" in the image above). The charts are also side-by-side and consist of 40,500, 13,500 and 4,500 tick charts. As you can see, the 4,500 tick chart is duplicated in both groups.

Time Frames for NQ, YM & TF Charts

What time frames should you use for day trading the mini-Nasdaq (NQ), mini-Dow (YM) or mini-Russell (TF, formerly ER2)? This video shows how to determine those settings.

Time Frames for NQ, YM & TF Charts (4:05)

In short, I’d suggest using these time frame charts:

• mini-Nasdaq: 150, 450 and 1,350 tick bar charts
• mini-Dow: 100, 300 and 900 tick bar charts
• mini-Russell: 100, 300 and 900 tick bar charts

Settings for Forex Charts

The "Better" indicators are designed for Emini trading but can also be used on Forex charts. Here are the setting changes I'd suggest making:

• Use minute charts and For volume use "Tick count"
• Better Momentum: UseUpTicks = False
• Better Momentum ShowMe: UseUpTicks = False

All other settings as above. Good luck with your trading.

Click the button above to go to the "Vertical Line Time" indicator that marks the beginning of the day session and download the FREE TradeStation EasyLanguage code.