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For guys trading the SP500, it makes since (to me) to be using the S&P tick or or net issues (JT6T.Z and JI6T.Z respectively) as opposed to using the traditional NYSE TICK (TICK.Z) version.
I also use the SPX.XO as one of my primary charts to plot the cash movement, especially for longer term moves without the hassle of contract rollovers.
For those guys using VIX, can you post some examples of how you are incorporating it?
I know the Suri Duddella uses a combination of tick, premium and something else (can't recall) and rolls it into a single oscillator to help him time entries. Anyone else doing this?
- New chart (#18) for JI6T.Z, set to 1-second
- Add "Study/Price Overlay" indicator to chart #11 (25k vol chart), selecting chart #18 as source, set to hidden
- Add Moving Average Hull to chart #11, set source as the JI6T.Z overlay from step 2, set to plot in panel 3 as gradient
$ADV, $DECL, $TICK (NYSE), $TRIN, $ESINX (PREM), SPY and XLF as a combination for his oscillator to time entries. Those are Tradestation symbols not IQFeed.
I imagine there is no need to plot the ADV and DECL using separate symbols but just use the single net issues ticker of JI6T.Z from IQFeed. Maybe someone using Tradestation can clarify if $ADV and $DECL are SP500 or Dow.
I've been messing around with breadth for a month or two trying to incorporate it as well..
The only one i'm using so far is VIX....i'm using a 10000V ES chart and i like to keep a seperate
chart with the VIX on it, with a TSI indicator. As an inverse indicator, if my indi line is greater
than the zero line then i'm short minded and conversely, below, or weakening indi, i'm biased long.
i uploaded these as seperate charts but i'm actually using the VIX chart like a third indi on my ES chart
so bear that in mind.....actually the image below looks about right as a whole.
i keep the bars of the VIX squished up for simplicity...hell, i cant read one set of bars worth a crap,
much less two
I have never been one to use VIX. But my general understanding is simply -- more VIX = more volatility. More volatility means more fear, which means withdrawing money from equities and seeking safer places (ie: treasury).
So I am not sure I follow the logic of shorting when VIX is falling.
Edit: just realized I read your screenshot wrong, you are shorting on rising VIX which makes more sense to me