The EEdge-LevelPlotter Indicator and GuideBook
EEdge-LevelPlotter
This is actually a two part section and discusses the EEdge-Level Plotter and the Finding EEdge-Levels Guidebook (available separately) that assists the trader in first identifying then plotting the longer term "Structure" levels on the trading chart. The EEdge-LevelPlotter indicator itself plots the structure Support and Resistance "structure" zones that are extracted from a spreadsheet populated by the trader. The zones are adjustable in size, color, line style, main and mid line weight and are semi-transparent to not obscure the price action or other indicators yet easy enough to see for reference. These areas then are "anchored" to the chart which means they can't be moved accidentally.
Finding EEdge-Levels Guidebook
To identify the structure areas, Trader Joe authored the "Finding EEdge-Levels Guidebook." This outlines in a step by manner how to identify these zones in a written form with illustrations and additionally three consecutive days of narrated videos. This structure is key in locating areas where the large professionals and funds look to enter or liquidate their positions which can cause the market to react with either a retrace or even a reversal. These S/R zones can almost be used as a sole edge to trade, but are simply incredible when used together with the EEdge Indicator set.
To identify the structure areas, Trader Joe authored the "Finding EEdge-Levels Guidebook." This outlines in a step by manner how to identify these zones in a written form with illustrations and additionally three consecutive days of narrated videos. This structure is key in locating areas where the large professionals and funds look to enter or liquidate their positions which can cause the market to react with either a retrace or even a reversal. These S/R zones can almost be used as a sole edge to trade, but are simply incredible when used together with the EEdge Indicator set.
Cambridge English Dictionary defines "Structure" in the following way:
- structure "1. the way in which the parts of a system or object are arranged or organized, or a system 2. construct or arrange according to a plan; give a pattern or organization to"
So What is "Structure" in trading and why do I care? Simply put, these zones are areas that should produce some type of price reaction. This reaction may be a short term bounce or a long term reversal. If we can reasonably predict a reaction in advance regardless of the size or length, this is a trading edge that we can use to our advantage. S/R zones are one of the crucial “setup” items in the “setup”, “trigger” and “follow through” strategy followed by EminiEdge trading. Whether used in combination with the EEdge Indicators or with your own trade setups you could likely realize a marked improvement in your successful trade setups.
There are many reasons why price may stall or reverse at a specific place. As traders, we look to find areas where multiple items come together to add strength and increased odds of a reaction. Sometimes these levels are simply due to supply and demand by large professional funds, sometimes “herds” of amateurs jump at the same time because of an “obvious” technical pattern or indicator. Other times there are psychological reasons that cause mass exodus of existing positions. Sometimes we’re not exactly sure of the reason why price had a reaction but regardless we can locate these “tracks” and use them to our advantage accordingly. Whatever the reason, it is our job to identify these areas ahead of time and apply them as an additional edge for increased profits.
There are many reasons why price may stall or reverse at a specific place. As traders, we look to find areas where multiple items come together to add strength and increased odds of a reaction. Sometimes these levels are simply due to supply and demand by large professional funds, sometimes “herds” of amateurs jump at the same time because of an “obvious” technical pattern or indicator. Other times there are psychological reasons that cause mass exodus of existing positions. Sometimes we’re not exactly sure of the reason why price had a reaction but regardless we can locate these “tracks” and use them to our advantage accordingly. Whatever the reason, it is our job to identify these areas ahead of time and apply them as an additional edge for increased profits.
The recommended process then is to study the "EEdge Levels Guidebook" to learn how to identify relevant structure. Document these areas or "zones" for reference for your next trading day. Next, enter these zones into the spreadsheet provided with the "EEdge-LevelPlotter" indicator (now available separately) and load them into your chart with a Crtl-R, which will plot the zones for review. Verify the zones look appropriate (no typos!) and you're good to go.
So in short, use the "EEdge-Levels Guidebook" to assist in finding the levels or zones where strong support or resistance exist. Then, use the "EEdge-LevelPlotter" Indicator to automatically plot them on the chart(s).
As a historical note,originally the Guidebook and the LevelPlotter indicator were bundled since they were designed to be used together. After multiple requests to either purchase the guidebook without the indicator, or the indicator without the guidebook these were split and are now offered separately.
As a historical note,originally the Guidebook and the LevelPlotter indicator were bundled since they were designed to be used together. After multiple requests to either purchase the guidebook without the indicator, or the indicator without the guidebook these were split and are now offered separately.
...part of the EminiEdge 5 Step Plan to Trade the Emini S&P...