Sierra Charts
Please spend some time on their website and learn more about the charts.
You have already installed the charts and our chartbook at this point, and the following details will help you further understand the Sierra-to-Autotrader interface functions.
Communication Interface
- The NDT AutoTrader receives the price data directly from the Sierra charts
- Each open chart, on bar close, writes it's data to a file that is read by the AutoTrader
- To see how this works, right-click in a chart, and select: Studies
- Select any study in the right side panel that begins with: Write Bar Data...
- Click on 'Settings' button to view
- In 'File Path', you can see the name of the chart export file
- All these chart export files are sent to this folder: C:\SierraChart\Data
- There is a setting in the AutoTrader to make sure this path is the same for reading
- The AutoTrader reads the data, processes it, and then decides for a trade signal
Chart Symbols - Futures
- We are trading the S&P 500 eMini Futures contract
- Being a 'futures', the symbols will change 4 times each year
- Example: ESU6
- ES: This is the root symbol for the 'emini' 'S&P'
- U: This represents the current year-quarter that is trading (this changes 4 times each year)
- 6: This represents the current year that is trading (2016 here)
- The current trading contract is called: The Front Month
- The symbol change to the next front month is called: Rollover
- The Sierra charts can automatically 'roll-over' to the next and current contract automatically
- Right-click in a futures chart and select: Chart Settings
- Check the box: Automatically Rollover Futures Symbol
- Our chartbook (NewDayInvestor.cht) already has this checked for you
- Chart Settings window is important - please study the options in it
- If you are not familiar with futures, do a web search on topic and/or start here
Chart Symbols - Cash Index
- All the charts in our chartbook are futures, requiring rollover, except one
- This exception is the S&P 500 Cash Index chart
- The symbol is: $INX
- This symbol does not change with the month or year
Sierra Account
- Sierra give you essentially 2 weeks free trial of their data feed
- Unfortunately, the exchange fees are never free, even during the free trial period
- CME: $3.25/mo
- S&P Indices: $3.25/mo
- If you decide to continue at the end of the trial, you then begin to pay for their data feed
- Please revisit your Sierra Account for fees and activation: In Sierra - Help > Account Control Panel
- Note: Infinity gives you 30 days trial before account funding requirement
Chart Studies
- Our charts include a couple of studies, primarily to make the chart more easy to look at
- Let's look at the chart: ESU6 at 1500 Trades
- Each bar here forms with 1500 trades taking place, then it closes and the next bar starts
- This type of bar/chart is called: Tick Chart
- We have included a 8 period Moving Average line making the trend easy to see
- Below is the Stochastic Momentum Indicator, showing the strenth ebb and flow of the trends
- Horizontal lines are seen which are the Floor Trade Pivot Lines - important in our trading
Floor Trade Pivot Lines
- These price levels are calculated based on the previous day's price actions
- The levels remain constant for the trading day
- They represent important 'Support' and 'Resistance' levels
- Support: providing a support base when price is above it
- Resistance: providing a resistance ceiling when price is below it
- Watch price action - The levels are amazing when price gets around them
- We do not usually want to take trade signals around these levels
- The AutoTrader default settings avoid trading around these levels, but you can override this
- Here is a good, concise article on the pivots
Notes:
- You can start the charts up the night before and they will be running when AutoTrader starts
- There is a short period each afternoon that the feed is down for 'daily maintainance' from 4:35 PM to 4:45 PM CST
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