Tick and Volume Charts

Tick and Volume Charts

Weekly Newsletter 1073: Using Tick/Volume charts and Oscillators for Scalping & Trading Levels for the Week Ahead

October 29th, 2021 Filed under Charts & Indicators, futures trading education, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Letter Issue # 1073

Dear Traders,

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Day Trading 201: Using Tick/Volume charts and Oscillators for Scalping

Using tick charts and oscillators for day-trading (by Ilan Levy-Mayer VP of Cannon Trading and CTA at Levex.net )
I really don’t think anyone has found a “perfect way” to day-trade.
Different techniques work well in different market environment.
In this week short educational feature, I will touch on one technique you can add to your trading arsenal. This technique works better on choppy, two sidedway and/or volatile markets. It does NOT work well when the market has a strong trend.
The chart below illustrates a few principals I like:
  1. It uses a tick chart rather than a time chart. I like tick charts ( range bar, volume charts, renko) better when day-trading shorter time frames for the simple reason it already includes a big factor in the market, VOLUME. If you are using a 5 minute chart for example, you may get signals simply because time “has passed” and certain indicators you are using adopt certain values. When using tick charts during periods where there are lots of movement, you won’t have to wait until your time frame bar closes to get your signal, volume becomes a bigger more important part of your trading decision.
  2. The other part for this trading approach is to use overbought/ oversold indicators in an attempt to catch exhuastion in selling or buying and catch the counter trend move. Sometimes that move will be minor, sometimes it will be a trend reversal and at other times just a little pause in a strong trend….no crystal balls here, just another tool to observe and consider in your trading. In the PDF you will see the same indicators, same market, same time frame BUT using different type of charts…..

Good Trading

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.


Futures Trading Levels



Futures Levels 11.01.2021

Weekly Levels


Reports, First Notice (FN), Last trading (LT) Days for the Week:


Date Reports/Expiration Notice Dates

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading

Economic Reports & Futures Levels 3.04.2015

March 3rd, 2015 Filed under Commodity Trading, Day Trading, Future Trading News, Futures Trading | Comment (0)

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday March 4, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Why I Like to Use Tick and Volume Charts for Scalping

Today, I decided to touch more on an educational feature rather than provide a certain market outlook.

Many of my clients and blog readers know that when it comes to short-term trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.

My rule of thumb is that if you as a trader who makes decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using other type of charts like volume charts, Range charts etc.

Volume charts will draw a new bar once a user defined number of contracts traded. An example is the mini SP 10,000 volume chart which will draw a new bar once 10,000 contracts are traded.

Range bar charts will draw new charts once price action has exceeded a user’s pre-defined price or ticks range. An example might be an 18 ticks range bar chart on crude oil.

While volume charts rely ONLY on volume, the range bar charts rely ONLY on price action.

Read the rest of this entry »

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