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How to use iCharts Levels
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Author How to use iCharts Levels
SwingTrader
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Post: #61   PostPosted: Wed Sep 14, 2011 12:50 pm    Post subject: Re: Nice to have. Reply with quote

dkardale wrote:
Thanks Shrikant.
Also, is it possible to display Ichart levels (for next day) immidieatly after market is closed? We only come to know at 9.15.
regards,
DK


iCharts levels update every day at 7 PM, they are available on JCharts Basic/Premium page below the chart.

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SwingTrader
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Post: #62   PostPosted: Wed Sep 14, 2011 12:53 pm    Post subject: Re: iChart Levels in Maximized Screen Reply with quote

sunilsb74 wrote:
Hello Mr Srikanth,
Thanks for all what you are doing for traders like me clap2 . Each and every piece of information is very important and helpful. Especially iChart level post is very nice.
It will really be helpful if we could be able to see the iChart levels in Maximized Window mode. That way it would be good to add these levels when new stock chart is opened to view in maximized window.
Best Regards and thanks again,
Sunil


iCharts levels can't be automatically drawn on JCharts. We can try and do this in "Live Charts"....

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hbanerji
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Post: #63   PostPosted: Wed Sep 14, 2011 10:06 pm    Post subject: Reply with quote

drawing the levels on livecharts will be most beneficial for icharts users. thank you for this innovation & hope to see it soon Very Happy
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dkardale
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Post: #64   PostPosted: Sat Sep 24, 2011 7:58 am    Post subject: BOLD LEVELS (ROUND NUMBERS) Reply with quote

BOLD LEVELS (ROUND NUMBERS)

Hi Srikant,
When we look at the grid in Jchart, it shows all the levels...example.. 5000,5010.5020.5030.5040.5050...

But most of the tradres are interested in only round number levels... 5000.5050...5100 and so on.

Is it possible display only round number levels in the GRID.

Or at least make them BOLD by default.

ragards.
DK.
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manass
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Post: #65   PostPosted: Sun Sep 25, 2011 11:40 pm    Post subject: Re: NF Example - 06.07.2010 Reply with quote

SwingTrader wrote:
To reiterate : both BULL-R1 and BEAR-S1 are key support/resistance bands. If price is rising into the bull-r1 band from below then strong resistance may be encountered here and there is a possibility that prices may reverse. At the same time a breakout above this band can mean significant upside. Also, price declining into the bull-r1 band can get significant support here. So these are both support & resistance areas based on where the current price is.

Similarly bear-s1 bands - expect significant support if price is declining into this area and expect significant resistance if price is rising into this area. Breakouts above / breakdown below can mean significant moves in those directions.

Though trading strategies can be devised around these, I strongly suggest that one use "iCharts Levels" for stop loss & targets. They are very effective for this purpose.

The BULL-R1 band came into play on 06.07.2010. Price opened around LOC and found support immediately. My first thought when such a thing happens is that now price will rise into Bull-R1 band so a trade here could be a buy with SL little below LOC and an initial target around Bull-R1 area. Once price enters a band (bull-r1 or bear-s1) what it does there and on which side it breaks will decide what to do further - move stop further up or close out the trade.

Price breaks out above the bull-r1 band so stop is just moved further up as R2 & R3 targets are hit.

If price would have broken down below from bull-r1 band then I would have exited the position and a possible short would have been initiated with SL above R1 and initial target of bear-s1 band.

The above is my general thought process everyday. All analysis is about where the price is with respect to the bands and what is happening when price is in a band.

More later....


Hi ST,
It is too good, if possible please incorporate this as an indicator in the live chart premium & Comm as Static one for the entire day. And I believe it will help people like us, having a very little knowledge in the market especially in technical.
Awaiting your positive & kind response.
Regards
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manass
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Post: #66   PostPosted: Thu Nov 10, 2011 5:31 pm    Post subject: Re: NF Example - 06.07.2010 Reply with quote

manass wrote:
SwingTrader wrote:
To reiterate : both BULL-R1 and BEAR-S1 are key support/resistance bands. If price is rising into the bull-r1 band from below then strong resistance may be encountered here and there is a possibility that prices may reverse. At the same time a breakout above this band can mean significant upside. Also, price declining into the bull-r1 band can get significant support here. So these are both support & resistance areas based on where the current price is.

Similarly bear-s1 bands - expect significant support if price is declining into this area and expect significant resistance if price is rising into this area. Breakouts above / breakdown below can mean significant moves in those directions.

Though trading strategies can be devised around these, I strongly suggest that one use "iCharts Levels" for stop loss & targets. They are very effective for this purpose.

The BULL-R1 band came into play on 06.07.2010. Price opened around LOC and found support immediately. My first thought when such a thing happens is that now price will rise into Bull-R1 band so a trade here could be a buy with SL little below LOC and an initial target around Bull-R1 area. Once price enters a band (bull-r1 or bear-s1) what it does there and on which side it breaks will decide what to do further - move stop further up or close out the trade.

Price breaks out above the bull-r1 band so stop is just moved further up as R2 & R3 targets are hit.

If price would have broken down below from bull-r1 band then I would have exited the position and a possible short would have been initiated with SL above R1 and initial target of bear-s1 band.

The above is my general thought process everyday. All analysis is about where the price is with respect to the bands and what is happening when price is in a band.

More later....


Hi ST,
It is too good, if possible please incorporate this as an indicator in the live chart premium & Comm as Static one for the entire day. And I believe it will help people like us, having a very little knowledge in the market especially in technical.
Awaiting your positive & kind response.
Regards

Hi ST,
It is too good, if possible please incorporate this as an indicator in the live chart premium & Comm as Static one for the entire day; and moreover I can access the same thru mobile.
And I believe it will help people like us, having a very little knowledge in the market especially in technical; and depending on few SMS & few gentleman's advice
Awaiting your positive & kind response.
Regards
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SwingTrader
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Post: #67   PostPosted: Fri Nov 11, 2011 10:00 am    Post subject: Reply with quote

manass,

Sorry for not replying earlier. I will be trying to do this in the near future. I will update you once I get this done.

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manass
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Post: #68   PostPosted: Fri Nov 11, 2011 10:19 am    Post subject: Reply with quote

SwingTrader wrote:
manass,

Sorry for not replying earlier. I will be trying to do this in the near future. I will update you once I get this done.

Thanks ST, please communicate thru mails about the schedule details of the coming training program by you at Hyderabad
Regards
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sen1980
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Post: #69   PostPosted: Thu Dec 08, 2011 4:12 pm    Post subject: pivot point Reply with quote

sir, iam intraday trader using 10min chart. can u give me some ideas about pivot point settings and calculation period,whether i can use 22 or more than or less than 22 in arbitary kindly help me.
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Post: #70   PostPosted: Sat Dec 10, 2011 8:06 pm    Post subject: Re: pivot point Reply with quote

sen1980 wrote:
sir, iam intraday trader using 10min chart. can u give me some ideas about pivot point settings and calculation period,whether i can use 22 or more than or less than 22 in arbitary kindly help me.


When you use arbitary, it means you are using the high/low/close of that many number of days to compute pivot point for the next day. The number you use in arbitary should be as per your trade holding period. If you want to hold a trade for longer duration then you can use a greater number in arbitary. For intraday trading "Day" is useful instead of "Arbitary" (using previous day's high/low/close for next day's pivot points). Even "week" or 5 in arbitary is useful for intraday. But anything more than that in arbitary is more useful from swing trading and not intraday.

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girishhu1
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Post: #71   PostPosted: Sun Dec 11, 2011 8:04 pm    Post subject: Reply with quote

manass wrote:
SwingTrader wrote:
manass,

Sorry for not replying earlier. I will be trying to do this in the near future. I will update you once I get this done.

Thanks ST, please communicate thru mails about the schedule details of the coming training program by you at Hyderabad
Regards

st sir,
i hope scheduled dates for training programme will be put on the icharts homepage , at least about 1and half month in advance so that all interested can participate without any hassle.
regards,
girish
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sherbaaz
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Post: #72   PostPosted: Tue Feb 28, 2012 11:24 am    Post subject: Reply with quote

Hello ST,

I am trying to develop a system on the basis of icharts level for day trading nifty futures. Wanted to share with you my today's trade in mini nifty future on 5 min tf.

Third candle taken out the R1 level and also out of the resistance band of Bull and R1 level within first hour of trade . After this I had bullish trend bias.

I have marked the long I have initiated along with SL. Took the entry above the high of 4th candle. this candle is the second candle closed above R1 and also a fractal candle (had two lower highs on both side).

Trade is still on.

Kindly share your views.

Regards,
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Post: #73   PostPosted: Tue Feb 28, 2012 11:39 am    Post subject: Reply with quote

sherbaaz wrote:
Hello ST,

I am trying to develop a system on the basis of icharts level for day trading nifty futures. Wanted to share with you my today's trade in mini nifty future on 5 min tf.

Third candle taken out the R1 level and also out of the resistance band of Bull and R1 level within first hour of trade . After this I had bullish trend bias.

I have marked the long I have initiated along with SL. Took the entry above the high of 4th candle. this candle is the second candle closed above R1 and also a fractal candle (had two lower highs on both side).

Trade is still on.

Kindly share your views.

Regards,


Sounds good. Trading fractal breakouts near key levels works fine, I regularly keep an eye on these. My suggestion is to work on sideways days and see how to reduce whipsaws on those days and see if one can capture small profit on such days. Trend days like today will work out fine as per your idea and would more than compensate for sideways days if losses on those days are kept small.

Keep me posted....good luck!!!

Regards.

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Post: #74   PostPosted: Wed Feb 29, 2012 9:46 am    Post subject: Reply with quote

Hello ST,

Kindly find the chart of mini nifty future 5M. It opened above the resistance band of Bull - R1. It looks like trending day

Second candle making fractal. Buy limit order is placed @ 5514.35.

My thought is if low of first candle is taken out i should cancel the order if it does not get executed.

Regards,
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Post: #75   PostPosted: Wed Feb 29, 2012 10:10 am    Post subject: Reply with quote

sherbaaz wrote:
Hello ST,

Kindly find the chart of mini nifty future 5M. It opened above the resistance band of Bull - R1. It looks like trending day

Second candle making fractal. Buy limit order is placed @ 5514.35.

My thought is if low of first candle is taken out i should cancel the order if it does not get executed.

Regards,


Sounds good. I will check these signals too....

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