Day Trader Essentials Indicator Version 3.0

Indicators For Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

Helping Futures Traders Via Our Core Strategy Academy Training Program and Futures Trading Group – The Best Emini Group IMHO. good afternoon Traders and welcome to the micostrader update for the day trader Essentials indicator that is part of The Suite of indicators you get when you’re a member this is version 3.0 and I’m going to give you a glimpse at it now be warned there might be some singing coming forward so you might want to lower your volume here soon but if you can’t have fun why do it so welcome to micros Traders where together we trade better this is the day tradingDay TradingOpening and closing all positions within the same trading day. No overnight risk. You start each day flat. This is where most ES/MES traders live. Full entry → Essentials update 3.0 an awful lot of time has went into this and I’m really excited to bring this to you so let’s get to it whenever you update an indicator you always go and removed items that aren’t cutting it anymore things you really aren’t using they’re not just getting the job done like a bad employee you just fire them and move on much like a trade that isn’t going your direction you just fire it and move on and say get out of here all right let’s get to the serious stuff so where are we at that’s always the primary question I’m trying to answer where are we at and where might we be headed we don’t have to predict price with our system we just trade the balce levels but it’s important to know where you’re at because trade location is very important I promise you if you’re making trades in good places you’ll be a better Trader if you’re making bad trades in bad places it’s hard to be a profitable Trader when you have bad trade location so the entire purpose is where are we much like when a pilot is lost in the clouds they don’t make sudden Maneuvers they don’t just quickly start descending to try to find light they calm down they look at their instruments they look at their maps and they figure out where are they at so this indicator is meant to be a minimalist dashboard it is your instrument panel to knowing where you are at when we’re live on Zoom together I’m helping you with that when we’re not on zoom and you’re trying to trade you have to do it so therefore use your instruments use these tools because they will help keep you safe by helping you have a good trade location now the last thing you want to do is to be an old country song and I’m telling you you don’t want me to do [Music] this playing a Fool’s game hoping to [Music] win telling those sweet lies and losing again oh no I was looking for trades in all the wrong places looking for shorts in too many places yeah it’s really really bad but sometimes you just got to have a little bit of fun all right so part of the weekly of knowing where you’re at is knowing where the weekly levels are where are the overnight levels where are we in relation to yesterday’s highs and lows and where are we in Confluence with the other indices we need to know the those things and now all of those things are beautifully integrated into our minimalist dashboard with this indicator so I have added a customizable watch list I’ve added a visual Indy tracking panel and inq adjustment and we are going to cover each of those topics right now so the added customizable watch list you can create either a horizontal or vertical watch list you can place this almost anywhere on your screen this gives you a quick dashboard to see the three main indices and then maybe four other ones they could be individual stocks like Nvidia where Nvidia goes the market goes where Apple goes the market goes or you could use it for smaller targeted ETFs like financials or techn technology so the customizable watch list you can change those symbols and you can even remove it if you don’t want to use it once again it’s about how you like to look at your dashboard now I have added visual indic tracking and I absolutely love this so This floating panel here can be adjusted and moved the top line is the yesterday’s high the middle line is the halfback and the bottom line is yesterday’s low the yellow dots is where the current price is so at a glance we can see where are we all at not only where’s Es at but where is everybody at this panel is also very customizable you might want to say how do I move it over there real simple inside of the settings panel you can enter these coordinates here and it will send the panel over there it’s just like a compass 10 steps that way 100 steps that way and there you are so it’s real simple if you want to adjust it personally I’m going to probably keep it on the right hand side of the chart it’s going to be out of view most of the time and when I want to see it I’ll just slide it over and then slide it back out of the way that’s how I like to do it but I wanted to give you the customization to enjoy the indicator the way you want to look at it so here’s this panel more zoomed in notice on the bottom right there’s a box when all four indices have their price above yesterday’s high once again I’ll say it again when all four indices when their price is above yesterday’s high this box will turn green when all four of the indices are under yesterday’s low this box will turn red now you may not be watching all the indices all the time but if you see that box turn red or green pay attention you want to be on the side that the river is Flowing not trying to walk Upstream it’s always easier to go with the current than to fight against it so pay attention when that turns red or green so what about adding the inq adjustment well on the chart at that same location where you can adjust the coordinates of the floating panel click inq chart and it will automatically do the math required to put this floating panel within the field of vision and then you can micro adjust it micro adjust it with those settings right there so I really like that so now my inq trators can easily use this as well without having to have a separate indicator so I’m very very very thankful for that okay so let’s hop on the indicator and let’s customize it so first of all thank you for being a member I hope you like these updates I think it’s another good move forward for our uh system and I’m excited to share it with you so let’s pop over to the Chart all right so I did a fresh install here right now it says Essentials 3.0 ES that the es will drop cuz I was going to have an es indicator and an inq but I had an epiphany today of how to do it so I reworked uh some of the indicator now I only need one indicator and all you need to do is click that inq box for the adjustment so this is a fresh install right out of the box with no adjustments so let’s come in and look at this panel so this panel there divided into three parts there’s input there’s style and there’s visibility why would you be interested in knowing anything about visibility well you might have two installs of the essentials indicator you load it twice and you have one set of settings for let’s say a 30 minute chart and one set of settings for a 3 minute chart where you simply come into the visibilities panel here and you make those adjustments and say only show this indicator if I’m on the three minute chart or only show this indicator if I’m on the 30 minute chart okay so that would be the only reason the visibility would be important to you okay so let’s come over to input so here’s the session times this is important because I have um International members and I just want to make sure that the times are lining up properly and if you need to adjust them this panel will do it for you I removed several things from the last um iteration of this indicator the 2.0 version the 3.0 version I did keep these two items though stop trading at lunch it’ll put up that red box in the final 30 minutes it’ll put up that red box as well so I kept those in there because I do think that’s really important not that you’ll ever turn it on but it’s there and uh you can’t say I didn’t tell you so um so the vwapVolume Weighted Average Price (VWAP)The average price weighted by volume. Institutions use this to measure their execution quality. Above VWAP = bullish. Below VWAP = bearish. Full entry → standard old vwap is there this yellow line here is the overnight rangeOvernight RangeThe high and low established during the Globex session before RTH opens. Breaking out of this range during RTH? That's often your first trade opportunity of the day. Full entry → you can turn that on or off with this button here and then our standard indicator settings that we’ve had before these yellow here are the overnight High the overnight low now this is just for the after little session here um overnight halfback the rthRTH (Regular Trading Hours)9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Full entry → low rth halfback rth high and that little dot right there is the opening so we’ll just turn those off CU we know what those are now big candle setting so when we have eight point candles or more I like to have my candles light up a different color right now if you scroll down under the inputs come down to the channel alert you can set these colors okay you can also set how many points I personally believe eight points on a three minute chart on ES is an alert I want to know about you can come in here and click red now notice when you click red here you do not have to leave the indicator for those effects to take place so you don’t have to keep leaving the indicator and coming back to make adjustments just stay on the indicator when you make your adjustments and you can see that they will appear now I’m going to switch these back to more gentle colors but if I wanted to it to Disappear Completely I could move my slider all the way to zero here if I wanted for the opacity or you come into the style panel and click big up candle big down candle and they’re gone now for last week’s high and low I am going to come in here and I’m going to make them a line okay and that’s how you make them a line I’m going to come out of the indicator for a second and you’ll see the purple line there here and the purple line here that’s your weekly highs and lows once again where am I at based on last week’s high and lows that’s built into this indicator let’s come back in we’ll turn those off and now we’re basically left with our new stuff here is the watch list I don’t like how trading View keeps their logo right there I don’t know why I did some research and a couple years ago there was a way to remove it and they have since removed the ability for paying members who pays them hundreds of dollars a year to not remove a logo in a place that we’re going to put stuff oh well so let’s go into the indicator and you might want to move it so let’s do that because it is fun you know what I need to show you one more thing built into this indicator is also a gap indicator I want to make sure you know this so let’s come back in time just a little bit let’s come over here cuz we actually had a gap up on um Friday there let’s go back just a little bit more let’s come into our indicator I’m going to turn on the Gap indicator Gap line and the 50% line so what that will do is it tells us where will the Gap fill based off yesterday’s closing price here where is that Gap where’s 50% of the Gap and once price gets there here we’ll go forward a few candles it will disappear so you have a gap indicator embedded in the essentials indicator all right so let’s turn off the Gap stuff of course you can change the colors there as well there’s also a notes panel that if you want to add a set of notes onto your screen as we’ve talked about before so we can move this note panel let’s move it to the middle right um and right there you can see where the notes came up so might be something you are interested incorporating into your experience as a Trader so let’s scroll on down we’re going to skip over this part for now because that relates to these things the floating panel so let’s come down here where it says watch list and this is where you can change your ticker symbols if you want to change them you want to rearrange the order whatever you want it’s your experience up here we can do some more customization so for example if I want to move this to the top right and make it vertical Che a second for indicator to catch up you can do that I can come in here and make the font huge if I want and it will go huge I’m going to take this back to horizontal and I’m going to take this back to normal let the indicator catch up and there’s a nice panel I actually might want it large and uh there we go not a bad place to have that as a quick glance now you can come in and change these colors if you want and you can also change the Min and Max numbers now what are these so let’s just take this down to let’s say 0.25 let’s take this down to 025 and you’ll see the colors change and I don’t really really like for example something’s up 63 it’s the same green as something up 1.44 seems like there should be a a different shading for that so I have experimented and I like minus 1.25 and plus 1.25 and I tend to like that shading better now that makes sense this is a stronger Green at 1.44 and this is more darker lower opacity type of red I mean typee of green so I like that as well if you wanted to get rid of this panel you simply come into each of these and you lower the opacity to zero right here just lower the opacity to zero on every one of them and this panel will disappear I believe that’s all I want to say about that panel so let’s come over here now and let’s look at our floating indic panel I am just so excited about this to have this right here and I will probably keep it right there on the right side of my chart as I’m trading and whenever I want to see it just scroll over take a peek okay so the yellow dots is where price is at the currently at the time during rth so here let’s get rid of the and you’ll see that es did indeed finish up here and Q did indeed finish just over yesterday Thursday’s low Dow did indeed close way up here over its high and in and Russell did indeed close over the high this is accurate um I tested it all week long live and it’s really cool to watch these balls go up and down so there is customization that can be done here as well so let’s go into our panel let’s go under inputs let’s scroll down about 3/4 of the way so in this area here you can change the writing or you can delete it so if I take es and I remove it let the indicator update you’ll see that the word the letters es disappears I personally like them so I will most likely keep them there this is where you can enter those numbers to make the panel move wherever you want if you want to move it over here you will make this vertical let’s say I don’t remember let’s say it’s minus 70 um horizontal adjustment instead of 86 to the right we probably want it minus 150 to the left let’s let that adjust going to go somewhere over there let’s go to minus 180 all right and minus let’s go minus 90 we don’t have to be exact you get the idea just tell it where you want it to go enter the coordinates and that’s where it will go so if you wanted it down there while you’re trading you certainly can if you wanted it further over here no problem let’s come in here let’s go down to inputs let’s take this minus 380 why not see what that looks like I haven’t done it that far okay there you go so it’s minus 380 over there and maybe you like you want it to reside over there another setting that I think will be useful here let’s come down and find that again it’s the Indy floating panel is the squeeze here okay so if you don’t if you think this distance is too far based off how zoomed in you are on the chart you can squeeze that let’s let’s go to 15 you will watch the line squeeze in you’ll also see the ball move in with it so um let’s watch that squeeze there we go and you see that everything squeezed in okay and you can also expand it by going negative if you want to separate the distance of these indices a little bit more I think 22 is about perfect in my humble opinion let’s go to 35 let’s just watch and they should expand okay not perfect but you you get the idea you can expand them if uh people feel like they really are expanding their things a lot and they want it more perfectly spaced let me know I can go in and dial that in a little bit but I think this is fine for what we are doing I like that spacing I think that works for me and I’m and I think I think it’s good okay so that is really the customization of the indicator I still want to play with it more tonight and more tomorrow and make sure there’s nothing else that I need to update I’d hate to update 3.0 then I got to release 3.1 then 3.2 because of a misspelling or something like that so I hope you enjoy these updates members um obviously a lot of thought and time goes into these to try to make it even more useful as our strategy continues to slightly tweak and morph and we find out exactly what it is we’re looking for and how we want that information presented to us sure I can go to the right and see all of my indices or now I can just have a little panel box right there and look at it real quickly as well all right guys that’ll be it for me have a great weekend