I haven’t talked about stock trading much lately… and in a way it’s a shame because my eotpro elite series indicators do work very well on stocks. So, how about this… I will start showing the day in various stocks, with my indicators on them. I’m not going to cherry-pick anything… I’ll show the whole day. I hate it when I’m accused of cherry-picking! :-)
You can leave comments about which stocks you’d like to see, and I’ll feature them. I may even start showing how you can use EOTPro stuff to pick swing-trading candidates. Yes, most of the indicators do quite well on 60-minute and daily charts, too…
To keep things simple, at least today, I just did this…
- pick the first stock that comes to mind… I picked Exxon Mobil Corporation (NYSE: XOM), one of my old favorites… very liquid!
- I pulled up a daily chart to get the 30-day average volume. It was around 30 million.
- I looked up an appropriate trading volume chart from my quick reference guide. It called for 121393 share bars.
- I applied my rolling-vwap paintbars, my cycle-EMAs, and my bid/ask histogram
- I marked trades with a vertical line when price trended against the EMAs, with the paintbars the correct color, and the bid/ask histogram pointing in the right direction
- I marked exit areas with an ellipse when the volume pressure subsided on the bid/ask histogram
Here’s the day in XOM, then… 4 trades… trade 1 could be closed for a small gain, or break-even if you were skittish. Trade 2 was a short trade for at least 40 cents or so. Trade 3 was a long trade for around 70 or 80 cents. And trade 4 would be closed out when the markets closed, for a small gain.
Not bad! And that’s just trading a single chart without any context to help you figure out the overall trend, or overall support and resistance.
Anyway, hopefully that was interesting. Feel free to give suggestions about stocks you’d like to see… otherwise I’ll pick my old favorites, and the typical liquid daytradeable stocks.
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| XOM |  |  |  |
August 20th, 2008 at 10:42 pm
Thanks Rich,
Do you make any indicators for Quotetracker ? Or only Tradestation and Ninjatrader ?
Also, can you show some charts with
MDR, DUG and ALK…..
Good blog :)
August 21st, 2008 at 10:32 am
Hey Quentin,
I’ve posted the stocks you requested. I think the indicators did quite well, and it’s just a couple of the elite series indicators that we offer!
Yes, it’s just for Tradestation, Multicharts, and (soon!) ninja for now. Later we’ll pick up eSignal probably. But, Quotetracker doesn’t have the kind of extension language we’d need to create our indicators for it… at least, last time I checked, it didn’t…
August 21st, 2008 at 5:55 pm
Hey Rich,
I recently signed up for the EOTPRO trial and am very interested in purchasing a subscription soon. I currently use Esignal and I was wondering if I subscribe if I would be able to port them myself to EFS?
Also I was wondering if you could show the Charts with X,
Thanks Richard =)
August 21st, 2008 at 6:10 pm
Very impressive results. So neat to see bid/ask data to help decide where to exit. I guess bid/ask data and volume are the “fuel for the fire” Glen mentioned.
August 21st, 2008 at 7:36 pm
Hi James,
No, you wouldn’t be able to convert them yourself, as the code is proprietary and encrypted. But, we do plan an eSignal port in the future. Sometime this year probably.
Zoomie: yep, I’ve been using the volume splitter to time exits since I wrote it. VERY effective. The b/a-histogram is practically the same thing.