NexusFi: Find Your Edge


Home Menu

 





EdgeproX, do these indicators work?


Discussion in MultiCharts

Updated
      Top Posters
    1. looks_one Jim G with 2 posts (0 thanks)
    2. looks_two Adolpho911 with 2 posts (1 thanks)
    3. looks_3 EgoRisk with 1 posts (3 thanks)
    4. looks_4 josephbarnes with 1 posts (1 thanks)
    1. trending_up 3,989 views
    2. thumb_up 5 thanks given
    3. group 4 followers
    1. forum 4 posts
    2. attach_file 0 attachments




 
Search this Thread

EdgeproX, do these indicators work?

  #1 (permalink)
 
Adolpho911's Avatar
 Adolpho911 
Amsterdam + Netherland
 
Experience: Advanced
Platform: EdgeProX!!
Broker: Edgeclear and Rithmic. (Nordnet 1 year more for Norwegian stocks)
Trading: ES, NQ, GC, CL (Maybe Dax if I bother to get euro data, probably dont need more.) futures only
Posts: 21 since Jan 2020
Thanks Given: 108
Thanks Received: 27

What topic said!
I also have a question regarding the StopIceberg indicator on EPXs (and assume multicarts) heatmap in the topic about Icebergs in the post just under here.

Thanks!

Adolpho911
"Faith does not always let you fix the tuition fee; she delivers the educational wallop and sets her own bill" Jesse Livermore
"I am not curious when I know everything" Adolpho911
Follow me on Twitter Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
How to apply profiles
Traders Hideout
NexusFi Journal Challenge - May 2024
Feedback and Announcements
Better Renko Gaps
The Elite Circle
Exit Strategy
NinjaTrader
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Spoo-nalysis ES e-mini futures S&P 500
48 thanks
Just another trading journal: PA, Wyckoff & Trends
34 thanks
Tao te Trade: way of the WLD
24 thanks
Bigger Wins or Fewer Losses?
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
  #2 (permalink)
 Jim G 
Atlanta, Georgia
 
Experience: Intermediate
Platform: Ninja, Sierra Charts
Broker: Trade Station
Trading: YM. ES
Posts: 10 since May 2011
Thanks Given: 167
Thanks Received: 6

What is your experience with EdgeProX? I am interested particularly in the Bookmap like program. If you have comments on this, I would appreciate.

Reply With Quote
  #3 (permalink)
 
Adolpho911's Avatar
 Adolpho911 
Amsterdam + Netherland
 
Experience: Advanced
Platform: EdgeProX!!
Broker: Edgeclear and Rithmic. (Nordnet 1 year more for Norwegian stocks)
Trading: ES, NQ, GC, CL (Maybe Dax if I bother to get euro data, probably dont need more.) futures only
Posts: 21 since Jan 2020
Thanks Given: 108
Thanks Received: 27


I did a very if not good, atleast thoroughly in a post about both Edgeclear and EdgeproX. I bet you can see my last posts or something. On phone so a hassle link and such.

I really like it tho, hopefully not a spoiler 😂

Adolpho911
"Faith does not always let you fix the tuition fee; she delivers the educational wallop and sets her own bill" Jesse Livermore
"I am not curious when I know everything" Adolpho911
Follow me on Twitter Started this thread Reply With Quote
Thanked by:
  #4 (permalink)
 EgoRisk 
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
Posts: 189 since Feb 2017
Thanks Given: 78
Thanks Received: 198


Adolpho911 View Post
What topic said! I also have a question regarding the StopIceberg indicator on EPXs (and assume multicarts) heatmap

I'm assuming you're not asking if MC indicators can be imported directly into EPX, because that's probably a no. But definitely ask in the Edge Clear forum on here; see if the specific studies/indicators you're looking for are available. I'd be surprised if they aren't. If it doesn't exist on EPX at all (which would surprise me), check over on the Motivewave user forum to see if exists elsewhere.


Jim G View Post
What is your experience with EdgeProX? I am interested particularly in the Bookmap like program. If you have comments on this, I would appreciate.

I've used EPX, and I used to use InvestorRT+Bookmap, I find the order book heatmap on EPX is just as good as on Bookmap. Basically, EPX comes setup with the heatmap on a 100milisecond bar chart where the bars are expressed as a line graph representing the "close" of each 100milisecond time bar. This makes it look like the bookmap heatmap. But the EPX heatmap is a study that you can put on any chart you want (time bars, volume bars, renko, pnf). I find it to be perfectly equal to Bookmap's heatmap. EPX also has a study called "Big Trades" which is the same as the Volume Dots on Bookmap, which I did learn to like when I used Bookmap.

Now, when it comes to Bookmap add-ons like the Stops & Icebergs Indicator, that is a Bookmap addon that has nothing to do with Bookmap's heatmap. It's just an indicator that costs extra and that is attached to the chart like any other indicator. I found little actionable value from the SI indicator because it's very short term; you have to be watching when it shows you what's happening. And, if you're watching price that closely, you can see stops and icebergs yourself without that indicator. I purchased the "MBO Bundle" with the SI Tracker when it first came out for like $80 or $90 USD per month, and I didn't fall in love with it. Maybe I just didn't know how to use it well. Who knows. And I have absolutely no idea if an SI Tracker (or something equivalent) exists for EPX, maybe it does. But I also believe footprint charts and imbalances can show you the same thing, which are on EPX and nearly every platform. I think it's just different ways of showing the same underlying data. Maybe I'm wrong.

Probably best to ask the Edge Clear folks on the Edge Clear forum on here.

---

PS. One thing I would like to see added to EPX is something like Bookmap's Liquidity Tracker. Bookmap published the formula and anyone can implement the formula (or a similar but slightly different formula) in a different platform. Basically, all it shows is the relative difference (imbalance or delta) between resting buys and resting sells. It's the inverse of volume delta; whereas volume delta shows the relative difference between executed trades (i.e., active buys and active sells), the liquidity tracker shows the relative difference between passive buys and sells resting on the book. Of course, you would set the indicator to only look so many ticks away from the current best bid/ask (say 50 ticks in each direction) and, the farther away the price level was from the best bid/ask, the less affect the resting volume at that price level would have on the resultant calculated value. This is one of those Bookmap tools that very short term in nature; you'd be looking for sudden changes in the calculated passive delta value.

Reply With Quote
Thanked by:
  #5 (permalink)
 Jim G 
Atlanta, Georgia
 
Experience: Intermediate
Platform: Ninja, Sierra Charts
Broker: Trade Station
Trading: YM. ES
Posts: 10 since May 2011
Thanks Given: 167
Thanks Received: 6

Thank you Appollo911 for your very thorough response. I liked your comments about both EPX and Bookmap. Very illuminating! I will be signing up with EdgeProX and will move to hopefully learn at least half as much as you seem to know about that platform.

Reply With Quote




Last Updated on July 18, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts