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Bear,
When I compare volume based charts, same premise as the tick charts, you have to keep your ratios in tact to get somewhat similar results.
In other words, if you like a 100 tick chart on the YM and let's say average volume is 100k per day (easy to keep the math simple but you get the idea) and the ES ave volume is 1mill.
So, 100 tick on YM = .1% ratio
.1% x 1mill = 1000 tick chart
If my math is correct here, that's saying a 1000 tick chart on the ES is the equivalent to a 100 tick chart on the YM in terms of attempting to keep the ratios the same on both charts. A way to 'even it out' while looking at different markets.
This idea holds true on volume based charts, but I don't trade tick charts so maybe it may not work as well. It might give you an idea of where to start and you can adjust your settings from there. 1000 ticks may be a lot, I don't know, but you can see that your setting will probably have to be much higher than 100 to mimic your YM setting. |
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Thanks bros. Your posts help.
I've been fiddling around and I'll keep you posted on my results. I tried the 1000 tick chart, but the range of the day from left to right was very narrow, meaning the whole days data fit on my one monitor. Do you think another way to do it is just put the YM chart up on the right monitor, then the ES on the left, then just adjust the ES by plugging in values, to visually make them match? Would this be a valid way to keep it somewhat similar in action?