Variable Time Candles,- 15 second, 5 second...

[smishra 0]

I have been trading at the open using Das Trader. After the trading day, I sometimes look at the chart in other tools (like Ninja Trader) that allow for candles of less than 1 minute interval.  Das does not seem to allow for candle intervals less than 1 minute

An interesting thing I sometimes notice is that I can spot patterns in 5 second 15 second or 30 second candles that get hidden away in 1 minute candles. 

I guess it has to do with the larger volume at the open that allows one to use these smaller averaging bins to see patterns. Of course if one is watching the  red price line one can see similar patterns as long as the price action is not choppy.

Has anyone used these smaller interval candles for actual trading?

 

 

Edited March 25, 2021 by smishra

[Alastair 114]

13 hours ago, smishra said:

Has anyone used these smaller interval candles for actual trading?

Yep.  Patterns show on all timeframes.  For scalping 15 sec and 10sec  charts are great BUT Das has not offered them. Not sure why, but have asked at least 4 times.  They probably need more traders like you requesting 15s and 10s chart windows.

Now when I say PATTERNS I am referring to Candles stick patterns, Elliott Wave patterns and also market structure.

[smishra 0]

Thank you Alistair and Peter. That was very helpful.

I have time constraints that usually prevent me from trading for longer periods of time. For me the open is the best time of the day to trade as it is a target rich environment. I find it more difficult though due to its fast moving nature.

For my day job I develop extremely low latency software and hardware. At some point I hope to be able to automate at least the simpler strategies so that they can execute efficiently on fast moving markets like at the open.  🙂

I wish DAS had an easily accessible API.   They do seem to have Command API but one has to jump through hoops to get documentation and not many people seem to use it.  One can probably hack together something using AutoHotKeys or similar but it may be slow and liable to break as DAS updates its software.

For automation, non professionals seem to prefer hooking into IBKR TWS 's socket based API.

Edited March 27, 2021 by smishra

[Alastair 114]

On 3/25/2021 at 2:49 PM, peterB said:

imho there is no real advantage in watching lower time frimes to make your trading better

As a scalper and a swing trader I like to know and identify the start of the move, scalp/swing.  It shows itself in the lower/lowest time frames first  (if u know how to read the charts) therefore giving a great entry AND stop.   A tight STOP is always better for significant R:R and/or break even.  This is just my opinion and how I trade as I try to maximize my time and profits while minimizing my losses.  The larger TF shows me the target. 

Edited March 29, 2021 by Alastair

[Roberto 10]

On 27/03/2021 at 10:08 AM, smishra said:

Thank you Alistair and Peter. That was very helpful.

I have time constraints that usually prevent me from trading for longer periods of time. For me the open is the best time of the day to trade as it is a target rich environment. I find it more difficult though due to its fast moving nature.

For my day job I develop extremely low latency software and hardware. At some point I hope to be able to automate at least the simpler strategies so that they can execute efficiently on fast moving markets like at the open.  🙂

I wish DAS had an easily accessible API.   They do seem to have Command API but one has to jump through hoops to get documentation and not many people seem to use it.  One can probably hack together something using AutoHotKeys or similar but it may be slow and liable to break as DAS updates its software.

For automation, non professionals seem to prefer hooking into IBKR TWS 's socket based API.

Look at ProRealTime. I'm starting to get into it and liking what I see. You can get down to 1 second and tic charts as well.

Also, seeing fast patterns is one thing.  Being able to get filled by IB fast enough to exploit those patterns might be a larger problem. 

Edited March 29, 2021 by Roberto