Quick overview on the trade setups today with the upcoming MTF combo chart and below an update on the new MTF indicators. So the day opened in a downtrend with only shorts warranted. Reversals could be attempted but as many have heard me say before they are tough to hit and riskier. If we have higher probability setups with the trend I'd rather focus on those instead. So starting off EEdge-Trend gives us the entry points in time after EEdge-TrendDirection signals the direction. The Longer term structure levels aren't really a requirement to the setups but offer confirmation and extra confidence. It isn't a coincidence that the structure levels show up at the turns which are entry and exit points. The alerts are configured in such a way that the Trend Levels and Trend Direction pop up on the screen and indicate from which time frame so no dang flipping around to see what is happening. Remember that a trend that ends and "reverses" in the small time frame could just be a pullback in the larger time frame. I find since I'm not flipping around I'm much calmer sipping my coffee waiting for the setup to appear and the entry to pop-up. This MTF view is freaking me out it is so nice. Clicking around from chart to chart, window to window and trying to remember what I just saw in those screens and worried I'm missing something in a closed window are now gone. This reminds me of that damn game where you flip over a card with a symbol on it, then another trying to match it. The next turn you try to remember where you saw that stupid symbol for a match. Not the most efficient thing while trying to make a profit! I'll be going through a lot less mice with the reduced clicking and won't miss it...
As far as an update on the new release, currently I'm working on the documentation for releasing the new configuration which is time consuming but progressing. Once I get everything done I'll do an announcement and initially I'm planning on offering a decent discount on the MTF indicators to those who already have the EEdge Indicators so watch your emails for that. Just one way I can show that I appreciate your confidence in the EEdge strategy and your support through the years. If you don't yet have the indicators but have been considering it, now's the time... The EEdge Indicators are still an integral part of of the overall system and the original indicators without the MTF (Multi-Time Frame) setup can still be used with no problems so no worries if you don't want to upgrade. Before the MTF release I will be sending out an update to current owners with some code updates to the original indicators that get them ready to accept the new sender/receivers. A few other improvements will be implemented in this release such as updated alerts and configuration for the integration. Also, I'm planning on outlining what setups, entries and exits look like on the new chart because it is different to look at, but in my opinion this is the biggest improvement since I originally created the EEdge Indicators years ago. Amazing how a new perspective on the same thing can shake up your psyche. Damn. Other than that simply chipping away on the updates after my trading is done for the day... You might see some updates to the EminiEdge site along the way as I start to update things so if you see things moving around you'll know why. :)
One last thing, this MTF chart view is intended for the multiple tick chart setup that I normally use (4K, 1.5K and 560 tick charts on on ES) so if you use minute charts you won't need the new configuration (other symbols and time frames will still work as well). Tradestation allows multiple symbols on the same chart with minute bars but not with ticks so this addresses that deficiency. I can't imagine going back to minute charts anymore but if it works for you great! Thinking about having a few beta testers since this is such a big update so if you're interested in that let me know. I've had a few questions asking how to find out if the logic will work on users system before purchased so I created a little test program that should help verify proper operation prior to purchasing the MTF system. The free code and test indicators are available here... I might hold off on any posts for a while to focus on the work at hand so if you have questions in the mean time just let me know.
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