Jigsaw Trading Blog

Give me strength! Live ES Trade

Published on: October 05, 2013

We’ve gotten into the habit of giving sneak previews of new features to members of our Skype room. This helps us refine new features before they go out to all users.

In this case, we gave Welly a pre-release copy of Jigsaw 5.2 with the new strength meters.

We already have a strength meter for trades and we added 2 new strength meters:

Market Depth strength meter
Snapshot strength meter (which gives a visual representation of the pulling/stacking”)

“Welly” got the software on Thursday and posted up an excellent live trade video on Friday. He’s pretty fast anyway but you have to admit, just 1 day to figure out how to incorporate these tools into his trading is, well, Speedy!

The video starts with the market having been in a range for the past 6 bars and it breaking out of the range to the downside.

0:00 -> 0:10 – You can see the ‘flood’ of prints as people stop out when we move towards the bottom of the range and you can see the bottom meter indicating that bidders are getting out of the way.We start off with around 14,000 sell market orders and 11,000 buy market orders on the top strength meter. We can see the bids are a lot larger than the offers indicating that the bidders are spoofing to try & get people to buy off them.

0:10 -> 0:35 – We come down to the point we broke out from a few minutes ago and the Reconstructed Tape on the right has slowed down considerably. This is a case of resistance turning into support. We have the slowdown and then we see that the bottom strength meter starts to show that the buy side is becoming more active. At this point Welly goes long!

0:35 -> 2:17 – We can see on the way up that the tape, the meters are all supporting the move upwards towards his target.

2:17 -> 3:07 – As we get to the top of the original range, you can see us hold there for a few seconds but then the bottom meter swings wildly bullish, indicating and then the market makes an attempt to break through his support line.

Welly describes the meters as “1st, 2nd and 3rd gears”.

As usual, the video is best viewed in Full Screen, Full HD mode.

http://www.youtube.com/watch?v=7Cx0DMrWTrY

As usual – thanks a lot Welly for taking time to produce these videos.

Pete

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