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WaveTrader ES Assistant
This is the ES (eMini) traders unfair advantage we have developed during the past 4 years.
It comprises a DASHBOARD PANEL you load into your sSignal Advanced Chart which runs in your indicators window. Pattern, Trend and Geometry in the indices effect the flow of trading in the eMini. From the dashboard window up to the minute Chart displays in 1, 3, 5, 10, 15, 30, 60 and daily time frames are available for the ES, OEX, DJIA and SPX. All it takes is a mouse click to change each ASSISTANT display instantly without having to alter your eSignal setup.
Features:
THE DASHBOARD PANEL updates in real time while the CHARTS allow you to do more refined analysis on the TICKERS.
OEX participation index (calculates % directional movement attibuted to OEX stocks).
Color coded gauges to track the Gann swing condition of the 5 minute bars for the OEX, DJIA, SPX. Fast / Medium or Slow
Color coded buttons for ES TREND WAVE INDICATORS (Choices of S, M, F) in different time frames.
ES/SPX Premium Indicator with Arbitrage BUY/SELL Alerts.
Spike Volume alerts.
OEX 25 TICK directional momentum indicator above volume bars.
COMBO OEX-DJIA-SPX charts 5 and 15 minutes.
Plus continuous data steaming High Low Last or Range - Pts change or % change.
The benefit to users is it allows you to quickly peruse the PATTERNS and GEOMETRIC RELATIONSHIPS formed within the CASH INDICES - OEX, DJIA and SPX as the ES signals possible REVERSAL signs.
A reversal in the ES will be more likely if the OEX and/or the SPX have similar reversal patterns forming at the same time as the ES.
In fact at certain times a STRONG REVERSAL PATTERN in the OEX can often override the ES as the OEX is the top 100 stocks in the S&P and its weighting is 65% of the total S&P500 stocks.
One other advantage with the OEX vs SPX performance is that you can see if the OEX is leading or lagging advances or declines as the ES futures market moves along. If the OEX is lagging on an up movement it implies stock weakness, if it is lagging on a down move it implies underlying market strength. When the OEX is generating more than 65% of the overall SPX movement it implies the move will continue in the same direction.
THE BASIC MECHANICS of the WT-ES ASSISTANT:
WT-ES will provide you with a mechanism from ONE SCREEN to monitor the OEX, DJIA, SPX, ES day session or ES Globex in 8 individual time frames such as 1 minute, 3 minute, 5 minute, 10 minute, 15 minute, 30 minute, 60 minute and daily when required. The WT-ES ASSISTANT is installed below an eSignal Advanced chart and by clicking on the buttons it will display individual CHART GEOMETRY & TREND reports which can be user controlled in an instant. It basically reduces the need for 32 extra screens into 1 screen. The system is perfect for operators using a laptop with an additional screen.
REPORTS HAVE MENU DRIVEN ROUTINES for all CHART time frames, the WT-ES tools allow you to draw in potential support or resistance levels for individual time frames, these will act as a memo board for you and can be viewed in seconds just by the click of a mouse. We have all of our PRICE ACTION Routines programmed into the WT-ES ASSISTANT, so there is no need to reload chart after chart in the eSignal as all the data required is stored in your data manager when you have WT-ES running on one eSignal chart.
The WT-ES Assistant gives you instant access to 8 charts each of varying time frames for SPX, OEX, DJIA and ES futures. Chart displays in 1, 3, 5, 10, 15, 30, 60 and daily time frames
To be without this tool trading ES futures is a huge mistake. Clearly it will pay for itself over and over again.
Plotting the ES GLOBEX Report Charts:
One of the other advantages of the WT-ES Assistant is the ability to track the E-Mini Globex data flow. There are many times when the GLOBEX chart will have made highs and lows outside of the day session times and these may indicate the market has reached a resistance or support level that implies a strong geometric influence to the future market direction. It is easy to keep track of these events in future without running eSignal charts under the eSignal method.
To display 1 minute reports Right Click the [5] box.
To display 3 minute reports Right Click the [10] box.
To display 30 minute reports Right Click the [15] box.
Normally I run the ES day session time frames in my eSignal Advanced Charts and use the WT-ES Assistant to keep track of the continuous 24 hour ES using the reports in WT-ES. This is very handy if you want to trade early in the new day or just review what the Globex may have done before the day session begins.
The Globex ES #F ticker is active 24 hours in time frames of 1 minute, 3, 5, 10, 15, 30, 60 and daily. It also has the price action from Sunday evening included.
2 hours later....
There are many occasions before or during the day session when the overnite Globex high or low acts as a resistance or support if it had tied in with some significant chart geometry. These are the things we need to know in a hurry without having to chase around loading and reloading charts of other TICKERS in a hurry.
The Globex session often sets the tone for the morning day session trading. Gap openings on the day session are commonplace. If you are not aware of the present Globex geometry you leave a lot of flaws in your trading plan.
TYPICAL WT-ES Assistant REPORT LOOK LIKE THESE when they are set up correctly.
Hardly ever does a market turning point go by that you could not have identfied at the time using the WT-ES Assistant.
THE OEX
OEX charts are extremely important to confirm potential market reversals or continuations in your trading vehicle the ES futures.
BBG
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