In this session with Anna and David of Quantum trading, they focus here on the US markets and in particular the US indices using Quantum Trading indicators and tools for NinjaTrader. Using non time based charts is a popular approach for intraday traders, and in this session they focus on the NQ emini, the futures contract for the Nasdaq 100. The reason non time based charts are so popular is very simple, as they reveal market momentum, something you never see on a time based chart. As the market speeds up and slows down, so this is revealed graphically on the chart itself.
The two charting approaches used here are using renko and tick. Quantum Trading has developed a unique variant of the standard renko indicator and called the renko optimiser, which does exactly what it says. Selecting the optimal brick size is often just a guess, but not with this indicator which delivers the correct renko brick size for all markets and timeframes. So no more guesswork! And the same applied to the tick charts using the Tickspeedometer indicator which again delivers the optimal tick chart for all markets and instruments. Once again, no more guesswork! And of course a great way to use either of these charts is then in combination with conventional time based charts. Both can be used on their own, but even better when used for entries or exits, or to help traders maintain an existing position.
If you’ve not discovered non time based charts yet for NinjaTrader, take a look at the video and see the Quantum trading indicators in action in real time as nice move lower develops on the renko chart for the NQ emini followed by an equally nice trend reversal higher as the fundamental news is released.