TradeStation Indicators.

1st Trading Tools presently offers three unique indicators that can be used to improve your trading:

1. Trend Volume Analysis & Market Profile indicator
An all-in-one trendline tool combined with price/volume distribution and market profiling of the specified trend area that is more versatile than anything TradeStation has available.

CONFIDENCE - When a market is trading sideways or trending it is helpful to see it displayed as a distribution in order to keep a firm perspective of the underlying tendencies present in the market.

VIEW KEY REFERENCE POINTS - See when a market trades in key areas of value, and understand at which prices the market may find support or resistance from additional supply/demand.

IMPROVE YOUR TIMING - Gain a better understanding of market dynamics and underlying structures of a market. Trade with tools the pro's use.

    • Compatible with TradeStation v8 only
    • User selectable standard deviation channels.
    • Automatic regression channels. Size of channel determined by strength of trend within the channel.
    • ProLine channel (1/2 range + 1 std deviation)
    • Raff channel (hugs farthest price from the center regression line and duplicates that distance on both sides of the channel)
    • HiLoRaff channel (hugs farthest price above and below the center regression line)
    • Volume at price histogram
    • T ouches at price histogram
    • Additional trend information such as % of price within channel, r-square over length of trendline, volume over length of trendline and length of trendline
    • Volume Profile for market based on the duration of a specific trend.

This indicator creates channels around a drawn trendline based on 5 different calculations selected by input including standard deviations, Auto, ProLine, Raff and HiLoRaff. Reports trend information about data within the channel via text label to the chart including, length of trend, total volume over that length, the percentage of price activity that occurred within the channel as opposed to outside of the indicator drawn channel lines and the R-Square value of the trend identified by the length of the trendline. Includes an option to place measured horizontal lines across the length of the trendline that display a sideways histogram and text that reports the amount of representative volume at each price or the number of times each price was touched over the length of the trendline producing excellent volume at price studies. An option to place a horizontal channel to the immediate right of the drawn trendline which displays the upper and lower boundaries of a user selectable percentage of the entire amount of volume over the length of the drawn trendline producing excellent market profile studies.
* Not designed for markets that trade in 1/1000 increments such as some forex instruments.

View Screenshots Here

2. Letter Profile - Time & Price in traditional letter based format

Produces conventional market profile lettering styled analysis for price time and volume in realtime walk forward charting. Displays Market Profile styled point of control and value area histogram for any market on any intraday timeframe or tick based chart. Allows for user variation on analysis settings, formatting and profile intervals on different timescaled charts - ie: 1 minute chart, profiled for every 120 bars. Histogram updates for the current interval in realtime. Only available for TS v8. Not designed for use with 24hr market session, or markets that trade in 1/1000 increments.

Market Profile is a graphical organization of price and time information. Market Profile displays price on the vertical axis and time/volume on the horizontal axis. Letters are used to symbolize time brackets. marketprofile is an analytical decision support tool for traders—not a trading system.

Market Profile reveals pricing patterns from any market as they develop. By effectively organizing price and time information, it is possible for traders to see which price areas the market is accepting or which ones it is rejecting…and adjust their trading styles accordingly.

View Screenshots Here


3. Volume at Price - Histogram based Realtime Market Profile & Price Distribution Analysis

Uses a histogram to allow for easy visual identification of high volume price/time areas without the need to learn traditional lettering based Market Profile. Displays volume-at-price or touches-at-price distribution, point of control and value area histogram for any market on any intraday timeframe or tick based chart. Allows for user variation on analysis settings, formatting and profile intervals on different timescaled charts - ie: 1 minute chart, profiled for every 120 bars. Histogram updates for the current interval in realtime. Only available for TS v8. Not designed for markets that trade in 1/1000 increments.

View Screenshots Here