Wiki Category: T3 V1.0

The T3 Inputs Study controls the Maximum Daily Profit and Loss numbers, and the Order Quantity. When the Max Daily loss or profit number is reached, auto trading will cease, and the arrows will disappear from the chart.

To adjust the T3 Inputs, Right-Click on the T3 Chart and select Studies.

Select the T3 Inputs Study and click Settings (or Double Click on the study).

Dly Max Loss Value: Set this to a negative number. Auto trader will stop for the day if your losses are at least this much. Also used in the Daily PL Progress calculations.

Dly Max Profit Value: Set this to a positive number. Auto trader will stop for the day if your profits are at least this high. Also used in the Daily PL Progress calculations.

Order Quantity Value: This is the number of contracts the auto trader will enter into. Note if this number is greater than the number of contracts in the attached order, then the attached order will get filled more than once.

 

If you are trading in a time zone that is different from New York (EST/EDT), then you may want to change Session Times in some of the charts. Note that this is an optional step, and with the exception of the S3 VWAP* rule, it does not impact any of the auto trading rules. It will help you be consistent with other traders, so you will know you are all looking at the same thing.

Many of the charts are 24 hour charts, which means their session starts at midnight (00:00:00). By default this is Midnight in New York.

The easiest way to fix this across all S3 and T3 chartbooks, as well as chartbooks downloaded from the TradingFibz shared drive is to simply tell Sierra Chart that you want to trade in New York time. Go to  Global Settings>>Data/Trade Service Settings and change the Time Zone to New York (-5 EST/-4 EDT):

Of course, depending on where you live this might take some getting used to.

This web site can help you determine market hours around the globe, and it is tied to your PC’s time zone, which should be set to where you are: https://market24hclock.com/

Should you decide you want to adjust the charts to match your trading time zone, you open the chart settings and set the session times.

24 hour Chart:

This is the chart settting from the T3 chart:

 

Change the highlighted times to your local time when it is midnight in New York. For example, if you live in London, and trade in London Time, then New York is 5 hours behind, so when it is 05:00:00 in London, it is midnight in New York. So you would change Start Time to 05:00:00 and End Time to 04:59:59.

For charts that are based on RTH (Regular Trading Hours) or if there are evening sessions, add or subtract the appropriate number of hours depending on your trading time zone.

 

* The VWAP study resets at Midnight, so the reset will depend on which time zone you are in. You want it to reset at Midnight New York time, so the S3 charts that use the VWAP rule (which by default is disabled) should change if you plan on using it.

In the end, you should ask yourself if it is worth the trouble of changing your charts, or if you should just get your head around trading in New York time.

The Chartbook should look something like this:

 

The charts are a follows starting from the left and going clockwise:

• T3 NQ: The main chart for trading.
  • The candles are Flex Renko with the Heiken Ashi study applied to them.
  • The Green cloud is the overlay from the hidden 1 min chart of the 50 and 144 exponential moving averages. When it is Green the 50 ema is above the 144 ema.
  • The Blue band indicates two of the MML Resistance levels overlaid from the MML chart.
  • In the upper right is the NASDAQ Tick value overlaid from the TICK-NASDAQ chart, which is hidden.
  • The upper displays the progress towards the daily PL goals. Positive means a net Profit, Negative means a net Loss. (Note: Commissions are not included.)
  • The three colored bars at the bottom are from top to bottom:
    • T3-5 / T3-8: Green means T3-5 is above T3-8. One requirement for a long entry.
    • 5/34 EMA:  Overlaid from the hidden 5/34 EMA chart. Green means the 5 is above the 34.
    • 50/144: Overlaid from the 1 min chart. Green means the 50 EMA is above the 144. Corresponds to the color of the 50/144 cloud.
• MML: This is a the 5 minute Murrey Math Levels chart. It is not part of the auto trader rule set. You may want to watch it for possible reversals and disable auto-trading at key levels. The chart is overlaid onto the T3 chart. You may want to change the period of the MML chart or the “Square Width” of the MML Mod study.
• 5 Min chart: This is provided with several key levels. If you are not trading in the New York (EST), you may want to adjust the hours so you get consistent results.  (See Changing Session Times)

   

  Hidden Charts: You can view these, but they should remain minimized as they are providing information to other visible charts.

• 5/34 EMA:  Same time frame as the T3 chart. Changing the time frame or symbol on the T3 chart changes this one too. Provides the region 3 background colors.
• 1m – 50/144: A time based chart, with two MAs that get overlaid as the cloud on the T3 chart.
• Midnight Open: The start of a new trading day.
• Tick-xxxx: This is provided on chartbooks for the Stock Index futures (ES, NQ, YM and RTY). It provides the tick text data in the upper right of the T3 chart.
• T3 xx yyymmdd.scss: This is the Spreadsheet Study for Trading that controls the auto trading logic. You normally do not need to touch this. Nor do you need to save it when asked. You do need to take extra steps if you want to clone a chart book. See instructions here.

Creating Custom Chartbooks

• The Mega Bundle includes four templates for custom symbols. Open one of the T3 Custn yyymmzz.cht files and change the symbol on Chart #1, the T3 Chart. Your new symbol will be applied to all relevant charts.
• Save the file with the same name.
• If you decide to save the file with a new name, then you should make sure you don’t use the same Custn chartbook for another symbol, as the SCSS will will be associated with two chartbooks, and that could cause problems.

 

 

1. In Sierra Chart determine the Data folder location by opening Global Settings>General Settings>General 1>Data Files Folder.
   

   

   
   

2. The path should already be selected (highlighted). Copy the Path by right clicking and selecting Copy.
3. Download the Zip file to any folder.
4. Open the Zip file by double clicking on it
5. Run the setup.exe file.
6. Click I accept the agreement.
7. Click Next
8. In the box where it says Select Destination Location, right-click and Paste the path you copied from Sierra. You may also Browse to the location.
   
9. To the Folder Exists Dialog box: Click Yes.
10. Click Install
11. Click Finish
12. Go Into Sierra Chart and File>>Open Chartbook and pick one of the T3 xx yyymmdd.cht files.

Features of the Auto Trade Chartbooks

1. Adjustable Flex Renko Time frames. Some markets move faster than others, so for the ES market, a 5-4-0 setting is used. For NQ, 10-7-0 or 15-14-0 is used. Every market has an ideal setting at any point in time.
2. Attached orders are supported. Set targets and stops as you like.
3. Order quantity can be modified to allow for multicontract trades.
4. Adjustable order quantities, default is 1. (Even if you change the attached order. See “Changing the Order Quantity” in Setup.
5. User selectable daily maximum profit and loss limits. Auto trade will stop for the day if either of these are hit.
   Defaults:
   1. Daily Max Profit: $100
   2. Daily Max Loss: ($100)
6. 5 minute charts for Murrey Math Levels (MML) and other popular levels.

Long Entries: 

Setup: T3-5 crosses above T3-8

Entry: Look for first bar that meets all of the following, then enter with a Market Order on the close

• Heiken Ashi Trend Bar Up
• T3-5 is above T3-8
• 5 EMA is above 21 EMA
• 50 EMA is above 144 EMA on 1 min chart
• Price is above the 50/144 “cloud”

Exit at any of the following:

• Target Hit
• Stop Hit
• T3-5 crosses below T3-8

Short Entries: 

Setup: T3-5 crosses below T3-8

Entry: Look for first bar that meets all of the following, then enter with a Market Order on the close

• Heiken Ashi Trend Bar Down
• T3-5 is below T3-8
• 5 EMA is below 21 EMA
• 50 EMA is below 144 EMA on 1 min chart
• Price is below the 50/144 “cloud”

Exit at any of the following:

• Target Hit
• Stop Hit
• T3-5 crosses above T3-8

 

 

The T3 Trading Rules are the core strategy of the TradingFibz.com trading room, run by David Katz. It is based on a combination of Flex Renko Heiken Ashi bars, moving averages, and overlays from other time periods.  The detailed rules are here.

T3, or Trade The Trend, is a trend following system, which has as its goal to identify and ride long trends for high returns.  The Flex Renko bars, combined with the Heiken Ashi study, transform ordinary candles into trending candles and indecision candles. A trending candle appears to be a solid body with only one wick.

Heiken Ashi bars indicate indecision when there are two wicks. They indicate trend when there is one wick pointing in the direction of the trend.

This auto trade chartbook will allow the user to decide to auto trade when market conditions appear favorable.   It is not intended to be a “set it and forget it” tool. It will win some and lose some trades. Discretion is recommended, when deciding to enable or disable auto trading at any point in time.  The main benefit of auto trading is getting you into a trade so you can manage it.

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Introduction Features The T3 Strategy Installation Setup Sierra Chart Tick and Time Zone Setup Changing Session Times T3 Inputs Auto Trade Setup in Sierra Chart Cloning Chartbooks

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