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X_STUDY User Manual Version 1.4

1. Ctrl F Save Workspace As Saves the windows contents spatial points and window sizes on your screen Exit Page Setup Allows you to adjust your margins paper size orientation and printer for the purpose of printing a chart Print All Charts Sends all open charts to print Exit Closes X STUDY Settings The Settings menu consists of the following options Properties Opens the Properties STUDY window used for customizing default window Help and global properties eg Toolbar kt Small w Medium Large Properties Toolbar Changes the size of the button icons on the toolbar 26 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Control Panel Window The Window menu consists of the following options Help New Chart Opens a new chart based SE STUDY on the last chart you opened Not Help available the first time you start the t New Char Chart Manager application Chart Manager Opens the Chart Manager window for creating new charts The Help menu consists of the following options Trading Technologies What s New Opens the help topic that SE x STUDY outlines new X STUDY features File Settings Window pes For future functionality What s New Help Topics About x STUDY Help Topic Opens the Help About X STUDY Provides information about you
2. KC MLine E Green ZB Marl KL LIB and Dodo C Khaki Current Value Color ME Black Raw True True Expand to change style properties for the series The TT box at the bottom of the screen displays information on highlighted properties p To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4 button at the end of the line Select the desired value of the property The selected value is automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property Trading Technologies 107 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 108 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Chapter 6 Using Technical Indicators X STUDY provides various technical indicators for the purpose of further examining your chart data These indicators can be accessed using the Add Technical Study option on the Chart context menu This chapter 15 broken into two sections Technical Indicator Procedures e Technical Indicator Definitions Technical Indicator Procedures Manage technical indicators using these procedures Adding a technical indicator to a chart e Removing a technical indicator fr
3. Add Parallel Line Display Current value Link Current Value w Extend To Right Extend To Lett Segment Remove Trendline Properties The following options are available e Add Parallel Line Creates a movable replica of the line you clicked e Display Current Value Displays the price at which the current bar would intersect the trendline when checked e Link Current Value Copies the current value of the trendline for pasting in Excel Refer to Linking to Excel on page 100 e Extend to Right Lengthens the trendline across the right side of the chart e Extend to Left Lengthens the trendline across the left side of the chart e Segment Removes the extensions from the trendline e Remove Removes the trendline from the chart 76 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus e Trendline Properties Displays the Properties menu for the selected trendline Trend Line Properties Determines if the value af the line the price axis 1 displayed The TT box at the bottom of the screen displays information on highlighted properties gt To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4 button at the end of the line Select the desired value of the property The selected value is automatically saved Repeat Steps 1 3 as nee
4. TRADING TECHNOLOGIES X STUDY FEATURE GUIDE Version 1 4 Document Version 1 4 X DV2 5 29 2007 Trading Technologies International Inc Proprietary and Confidential Information Trading Technologies International Inc TRAD TECHNOLOGIES ING Legal Notices This document and all portions thereof are the exclusive property of Trading Technologies International Inc TT This document is protected by copyright law and international treaties Unauthorized possession reproduction duplication or dissemination of this document or any portion of it is illegal and may result in severe civil and criminal penalties Prosecution will be to the maximum extent possible under the law computer programs comprising the TT all related TT example programs and all TT source code are the exclusive property of TT such programs regardless of distributed form are protected by copyright law and international treaties Unauthorized reproduction of any TT software or proprietary information may result in severe civil and criminal penalties and will be prosecuted to the maximum extent possible under the law Information in this document 15 subject to change without notice Companies names and data used in examples herein are fictitious unless otherwise noted No part of this document may be reproduced or transmitted in any form or by any means electronic or mechanical for any purpose without the express written
5. You have successfully added text Trading Technologies 89 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide b To add Level Lines from Excel Note You must have Microsoft Excel 2003 or better to use this procedure Create your formula or value in Excel In Excel click the Format menu and choose Cells Click the Pattern tab Click the color you want to shade the cell and click OK Pee e e Note By holding CTRL you can select up to ten cells to paste as links Right click the shaded cell and click Copy 6 In X STUDY M right click the chart area to access the context menu 7 Click Paste Link Horizontal markers appear at the price levels defined in Excel a You have successfully added Level Lines from Excel 1 Min eCBOT mini DJIA O 12700 H 12714 L 12694 L 12709 C 4127 VWs 2225 07 15 07 30 07 45 08 00 08 15 Level Lines Example 90 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts To add a Trendline or Fibonacci lines 1 Right click an open area in the chart and highlight Add Drawing Tool 2 Click the drawing tool you want to use Trendline Fibonacci Retracement Fibonacci Extension Click on the chart where you want the first point of your line to begin Move the cursor Click on the chart where you want t
6. Click down arrow and select the Group to which you want to include chart Note Every chart you add to this group will center at the same time when you press the SPACEBAR Click OK 7 Repeat Steps 1 6 for each chart you want to add to this Global Centering Group You have successfully created a Global Centering Group 34 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Managing Charts Cloning Charts Cloning a chart 2s 6A DecO Restore e Launches an exact replica of the chart Oo 73 with same contract instrument Size window size chart style applied _ Minimize studies colors and property settings Fl Maximize e Lets you drag a new contract onto the cloned chart and keep all of your settings Page Setup Print Preview Print Rename Window Close Alt F4 To clone a chart use these procedures e Cloning a chart e Creating a new chart using an open chart b To clone a chart 1 Ensure window size chart style applied studies colors and property settings you want to clone are set on your existing chart Right click the titlebar on the chart you want to clone Click Clone Chart The cloned chart appears on top of the existing chart You have successfully cloned a chart p To create a new chart using an open chart 1 In X TRADER from either Market Grid or the Market Explorer cl
7. The longest bar on the VAP technical indicator extends to the percentage as defined in the Display Percentage property setting All other bars are in lengths proportional to the longest bar Right click the VAP and click Properties to modify Display Percentage and other attributes This includes setting the VAP for transactions in a day Reset Daily or a set number of bars Reset Interval Examples 38 6A Sep06 1 Min CME GLOBEX Foreign Exchange Session lt 5 Sep06 60 Min GLOBEX Foreign Exchange Ses Sele 73211 7274 7275 53 Vi 4477 Peso 08 45 00S VAP I minute rollup Reset Daily False Display Outline False VAP 60 minute rollup Reset Daily True Display Outline True 22 00 11 00 01 00 14 00 04 00 152 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Williams 96 R WillR The R indicator was developed by Larry Williams and introduced in his 1979 book How I Made 1 000 000 Trading Commodities Last Year R is similar to a stochastic oscillator as it normalizes price as a percentage between 0 and 100 It is basically an inverted version of the Raw K value of a Fast Stochastic Formula 100 Highest High Close Highest High Lowest Low Where e Close the current closing price e Highest High the highest high in the past n periods Lo
8. e Expanding or compressing the bar spacing e Resetting the time scale to the default spacing e Moving your focus of a chart To expand or compress gap between measured prices Click and hold in the vertical price axis and move your mouse up to shorten the gap between measured prices Of Click and hold in the vertical price axis and move your mouse down to lengthen the gap between measured prices You have successfully expanded or compressed the gap between measured prices p To expand or compress the bar spacing Click and hold in the horizontal time axis and move your mouse left to shorten the measured time intervals Of Click and hold in the horizontal time axis and move your mouse right to lengthen the measured time intervals You have successfully expanded or compressed the bar spacing To reset the time scale to the default spacing Right click the horizontal time axis and click Reset You have successfully reset the time scale to the default spacing P To move your focus of a chart Click and hold the chart background and move your mouse You have successfully moved the chart Trading Technologies 93 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Displaying Yield Prices You can choose to display your Price Axis in yield using the Price Axis context menu This functionality is very similar to what can be done in MD Tr
9. Allows you to customize the appearance of the daily value box ES Marl b Daily Values Bump Horizontal Verdana Determines the back ground of the item The TT box at the bottom of the screen displays information on highlighted properties P To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4 button at the end of the line Select the desired value of the property The selected value is automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property Trading Technologies Trading Technologies International Inc Proprietary and Confidential Information 65 X STUDY Version 1 4 Feature Guide Titlebar Context Menu To access the titlebar context menu right click the top of a chart window The following options are available e Restore Returns a maximized chart back to its previous size Move Size e Move Allows you to move the chart window This can Minimize also be done using standard Windows conventions Size Allows you to move borders on your chart Clone Chart window This can also be done using standard Windows conventions e Minimize Removes selected chart from view Print e Maximize Displays the selected chart on your entire screen Rename Window x Close 4 e Clone Chart Creates a repli
10. Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Close Charts Close charts show the Close for specified roll up period They come in two versions dot and line Dot Version Fr 2 06 1 Min GLOBEX Tersien Echange Session 5 Im m jJ Ej Buscas ss eo o d s 100654 A mU TESTS TEST TERES Line Version 28 6EMar06 1 Min CME GLOBEX Foreign Session 12054 H 12072 L 11970 L 118987 Ci AN 118988 13 00 HE Reading the Chart 40 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Identifying Chart Types Candlestick Charts Candlestick charts show the Open High Low Close for specified roll up period The candlesticks are comprised of color coded bodies to show upward or downward movement and tails to show highs and lows o 6E 06 1 Min CME GLOBEX Foreign Exchange Session NN idi dades 1 If the candlestick body is green e Top is the Close And the High if there s no extending tail Bottom is the Open And the Low if there s no extending tail If the candlestick body is red e Top is the Open And the High if there s no extending tail Bottom 15 the Close And the Low if there s no extending tail A line extending from the body indicates a High or Low different from t
11. This action cannot be undone You have successfully deleted a custom session To apply a custom session Right click the Time axis hover over Custom Sessions and click the session name you want to apply If your session has not been created create one and prior to exiting the Custom Session Editor click Apply You have successfully applied a custom session Trading Technologies 103 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Using the Global Properties Menu The global Properties window 15 used to change the default look of all chart areas Manage properties using these procedures Accessing the Defaults tab on the Properties menu Accessing the Global tab on the Properties menu Changing a Property To access the Defaults tab on Properties menu From the Control Panel click the Settings menu and choose Properties The Properties menu appears i Properties Defaults Global E ones BackColor 189 195 211 Verdana TestCoo E 65 81 137 BackCoo EN 65 81 137 True Verdana Spt B dCoo 20 0 0 0 Price Axis Hash Color 70 189 195 211 White BackCoo 65 81 137 Bump True Horizontal True Verdana FontColor White Change the default properties of the axes You have successfully accessed the Defaults tab on the P
12. X STUDY Version 1 4 Feature Guide This guide uses the following text conventions ALL CAPITALS Indicates operating system commands and acronyms Courier Indicates examples and anything that you must type exactly as it appears For example if you are asked to type show version you would type all the characters shown in Courier exactly as they are printed Bold Indicates menu items command buttons folder directory names file names window names dialog box names and field names Procedures contain bolded items as well Italic Indicates variables including variable text Variable text 1s used when dialog boxes or their components are not labeled Variable text 15 also used for labels that change dynamically based on their current context The wording of variable text does not exactly match what you see on your screen Keyboard Formats key names are shown using small capital letters For example the Control key 15 shown as CTRL The UP ARROW DOWN ARROW LEFT ARROW and RIGHT ARROW KEYS are collectively referred to as the arrow keys Key combinations and key sequences appear in the following formats 1 2 A plus sign between key names means to press and hold down the first key while pressing the second key For example Press ALT TAB means to hold down the ALT key while pressing the TAB key 1 Key 2 comma between key names means to press and release the keys one after another For examp
13. as a percentage of the True Range DI DM 100 DI DM TR 100 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart DMI Time Periods Example 07 1 Min Globex Forex O 113237 0 H 132500 L 15164 0 131851 0 61 0 Y 196154 aro SUE D 132236 0 H 123236 0 1343540 DMI 14 mme 07 00 07 15 30 O O Trading Technologies 125 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Ichimoku ICH 126 The Ichimoku study was developed by Goichi Hosoda pre World War II as a forecasting model for financial markets The study 1s a trend following indicator that identifies mid points of historical highs and lows at different lengths of time and generates trading signals similar to that of moving averages MACD A key difference between Ichimoku and moving averages 1s Ichimoku charts lines are shifted forward in time creating wider support resistance areas mitigating the risk of false breakouts Formula Turning Line Highest High Lowest Low 2 for the past 9 days Standard Line Highest High Lowest Low 2 for the past 26 days Leading Span 1 Standard Line Turning Line 2 plott
14. average directional movement 118 average true range 117 bolling bnad width 122 bollinger band 120 commodity channel index 123 cumulative ask volume 148 cumulative bid volume 147 cumulative bid ask volume 146 cumulative volume delta 151 directional movement indicators 124 exponential moving average 130 ichimoku 126 keltner channel 127 momentum 135 moving average convergence divergence 134 on balance volume 136 parabolic SAR 138 percent price oscillator 137 price channel 140 price volume trend 141 rate of change 142 relative strength indicator 143 removing 109 simple moving average 131 stochastic 144 triangular moving average 132 volume at price 152 volume delta 149 volume delta histogram 150 weighted moving average 133 Williams R 153 Technical study properties 107 Text 59 80 Tick chart 42 Time axis 74 changing 92 101 setting 92 Time Price Area 45 Titlebar 66 Trading Technologies 159 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide TPA data window Trading changing orders deleting orders entering orders in yield order types procedures Trading Out Trendline copying creating extending formatting linking segmenting Triangular Moving Average TRIMA TT CVD Types of charts Feature Guide conventions Using chart manager context menus control panel execution control panel execution grid fill indicators properties menu sessions splits t
15. 2 Type the quantity you want your trades to default to When you make a trade the Quantity box will automatically default to this number You have successfully set the default quantity 54 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Executing a Trade Managing Order Types The following order types are available for use in X STUDY e Limit Buy or sell at a specific price or better This is the default order type Unless you specify one of the other order types you will always place a Limit order e Stop Limit SL Your buy or sell triggers when your price level is reached and then becomes a Limit order e Stop Market SM Your buy or sell triggers when your price level 15 reached and then becomes a Market order Stop Orders 106270 l You can only place Stop orders above the 106265 inside bid or below the inside offer 106260 Set the Stop Limit Offset Tick to trigger 106255 your Stop Limit order a set number of ticks away from your order price 106250 he default i 106045 The default is 5 279 set the Stop order type to Sticky to keep the Stop order type persistent after you have placed an order Re click the yellow SL or SM button to stop placing that order type 106215 Use the following procedures to manage your Stop orders e Setting the offset ticks for Stop Limi
16. Information Table of Contents CHAPTER 5 CUSTOMIZING X STUDY CHARTS 07 ADDING BILE INDICA TORS ETE 88 PIL INDICATORS EX AMPI iis hei ese enya Beant use Re atu va cat ien sni cenas DU A deu UE 68 ADDING LANES AND TEx Tinon escorts oho detuvo R fessa pack ones cetus dote O 69 CHANGINGEDINIE INTER VAL riot dedu icut 92 CHANGING YOUR VIEW OP THE CHAR US reU ENS 93 ibi YING VIB ED PRICE 6 94 YIELD PROPERTIES FIBED DESCRIPTIONS 95 HIDING DATA FROM VIEW 98 TING TE 100 MANAGING CUSTOM SESSIONS pega O 101 USING THE GLOBAL PROPERTIES 9 0 4503 104 MANAGING CHART WINDOW PROPERTIES cccccsssscceceeseccecsesecceceusecceceusecceeeuecceesuecceeeueeeeeeas 106 MANAGING TECHNICAL STUDY PROPI RTE Sonig ia a tee go aide m eet qut 107 CHAPTER 6 USING TECHNICAL INDICATORS ecce 109 TECHNICAL INDICATOR PROCEDURES tea etu Eno Fee o eee NAUES 109 ADDING MULTIPLE TECHNICAL INDICATORS oU pU Ima abt tus QUU EUN OE SUR 111 TECHNICAL INDICATORJOEEINELIONS eo ypetteu US 115 ACCUMULATION DISTRIBUTION CD c iiber eI Te PU i iM Iq m m TU I 116 AVERAGE TRUE RANGE TA TR du ten ee a dated duda 117 AVERAGE DIREC
17. True Expand ta change style properties for the series The TT box at the bottom of the screen displays information on highlighted properties To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 2 1 button at the end of the line Select the desired value of the property The selected value is automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property Trading Technologies 63 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Daily Value Box Context Menu To access the daily value box context menu right click the Daily Value box in the upper left corner of a chart w Open w High w Low w Last Met Change Pct Change Volume Horizontal View Hide Daily value Box Daily Value Bax Properties The following options are available e Display options By default the only display option not enabled is Pct Change e Horizontal View Flips the orientation horizontally ETE SUR H 130000 ee eee C 3200 W Option becomes Vertical View when oriented horizontally e Hide Daily Value Box Removes the daily value box from the chart 64 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus e Daily Value Box Properties
18. and Confidential Information Using Technical Indicators Technical Indicator Definitions Technical Indicators are added to charts using the Technical Study option on the Chart context menu The Technical Indicators are Accumulation Distribution AD Accumulation Distribution AD Average True Range ATR Average Directional Movement ADX Bollinger Band BB Bollinger Band Width BBW Commodity Channel Index CCT Directional Movement Indicators DMI Ichimoku ICH Keltner Channel KC Moving Average Adaptive AMA Exponential EMA Simple SMA Triangular TRIMA Weighted WMA Moving Average Convergence Divergence MACD Momentum MOM On Balance Volume OBV Percent Price Oscillator PPO Parabolic SAR SAR Price Channel PC Price Volume Trend PVT Rate of Change ROC Relative Strength Indicator RSI Stochastic Stoch Volume Cumulative Bid Ask CBAVol Cumulative Bid BVol Cumulative Ask AVol Volume Delta Vol Volume Delta Histogram Vol A Hist Cumulative Vol Delta TT CVD Volume At Price Williams R WillR Trading Technologies 115 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Accumulation Distribution AD 116 The Accumulation Distribution AD study attempts to quantify the amount of volume flowing into or out of an instrument by identifying the position of the close of the period in relatio
19. and Confidential Information X STUDY Version 1 4 Feature Guide Triangular TRIMA The Triangular Moving Average TRIMA represents an average of prices but places weight on the middle prices of the time period The calculations double smooth the data using a window width that 1s one half the length of the series Formula SMA SMAm Nm Nm Where N Time periods 1 e Nm Round N 2 SMAm Sum Price Nn Nm Example 07 1 Min CME Globex Forex O 1328320 H 13250 0 L 13164 0 L 131790 63 0 106 45 07 00 07 15 07 30 132 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Weighted WMA The Weighted Moving Average WMA places more emphasis on recent prices than on older prices Each period s data is multiplied by a weight with the weighting determined by the number of periods selected Formula Price n Price 1 n 1 Price n 1 1 n n 1 2 Where n time period Example 07 1 Min CME Globex Forex O 1328320 H 1325010 L 13164 0 L 131 29 C 63 0 WY 197101 106 45 07 00 07 15 07 30 Trading Technologies 133 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Moving Average Convergence Divergence MACD The Moving Average Convergence Diverg
20. chart window Chart Window Properties 7B Mar 7 1 Min I X gn Style BackCtoo 65 81 137 True Font Verdana GridColor 20 0 0 0 Price Avis Hash Color 1 70 189 195 211 TetCoo White Pricedvis Style C 188 195 211 Font Verdana TetCoo 65 81 137 Style BackCoor 189 195 211 Verdana 65 81 137 The TT box at the bottom of the screen displays information on highlighted properties p To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4 button at the end of the line Select the desired value of the property The selected value is automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property 106 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Managing Technical Study Properties The Technical Study Properties window allows you to customize the look of all the chart data from a single window Technical Study Properties ZB 07 1 Min eCBOT Interest Rate Position 0 0 ZB Marl ADMI OB Level Marl ADMI 05 Level Property ZE _Aiuted gts 0 ZB MarD7 KC LBand Candle Down Color Red ZB
21. crude oil from the world s foremost oil producing and exporting region The Montr al Exchange MX is Canada s oldest exchange changing the Canadian financial environment by introducing stock options in 1975 and a major futures market years later They offer equity currency index and interest rate derivatives In 1999 Singapore Exchange Limited SG X merged the Stock Exchange of singapore SES and the Singapore International Monetary Exchange SIMEX creating Asia Pacific s first demutualized and integrated securities and derivatives exchange Their products include equity index and interest rate futures and options energy DRAM and single stock futures X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information What s New Execution Grid Enhancements The following enhancements were made to the Execution Grid e High and low trades for the day are marked in the price column The yellow overline indicates the high The red underline indicates the low Price cells inside the high and low of the day are shaded a darker gray e With the Execution Grid as your focus you can use your mouse scroll to scroll the price column up and down Refer to Reading the Execution Grid on page 51 for more details Execution Control Panel Enhancements The following enhancements were made to the Execution Control Panel e new Default Quantity box appears in the middle of the panel The nu
22. field 2 Type the quantity you want your trades to default to 3 Click OK You have successfully changed the property Trading Technologies 67 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Execution Grid Context Menu Right click the price column on the Execution Grid to access its context menu Center Last Price Align with Chart Hide Execution Grid Execution Grid Properties The following options are available e Center Last Price Centers the Execution Grid on the inside market e Align With Chart Centers on the LTP and resizes the chart price axis to align one to one with the grid cells Also removes the Slider from view This option 15 grayed out when the slider is not displayed e Hide Execution Grid Removes the Execution Grid from view e Execution Grid Properties Displays the Properties menu Execution Grid Properties Display LTO Font How Height Factor Limit Price Offsetin Ticks 0 Limit Display the accumulated last trade quantity The TT box at the bottom of the screen displays information on highlighted properties 68 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus gt To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line 2 Click the J or d button a
23. in a session back to their original position e Auto Split Creates splits based on the Initial and Breakout Lookback properties in the Properties menu e Reset To Default Distributions Returns all TPA letters on the screen back to their original position e Display Volume Adds a horizontal bar chart next to the data to represent the quantity of the transactions at each price Display Volume e Display Tick Volume Adds a horizontal bar chart next to the data to represent the number of transactions at each price Display Volume followed by Display Tick Volume Note Either or both bar charts can be displayed If both are displayed the Tick Volume chart 1s displayed second Trading Technologies 79 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide e Properties Displays the Properties menu for the selected contract Price Distribution Properties Appearance 65 81 137 Price Tick Increment Color Price Gap White Lourier New 11pt 13 Volume of Volume Va Actual Indicators Initial Balance Range Initial Balance Range Properties Open Close Markers Open Close Marker Properties Point of Control Point of Control Properties TFA Time Interval 00 30 00 Initial 7 Breakout 3 Verdana False False True True True Right Right TPA Value Area Line Color B SteelBlue 3 Volume Value Area Line Ro
24. more details Trading Technologies 59 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Add Technical Study Adds a selected technical study to the chart Accumulation Distribution AD Average True Range ATR Average Directional Movement ADX Bollinger Band BB Bollinger Band Width BBW Commodity Channel Index Directional Movement Indicators DMI Ichimoku ICH Keltner Channel KC Moving Average Adaptive AMA Exponential EMA simple SMA Triangular TRIMA Weighted WMA Moving Average Convergence Divergence MACD Momentum MOM O O O O On Balance Volume OBV Parabolic SAR SAR Percent Price Oscillator PPO Price Channel PC Price Volume Trend PVT Rate of Change ROC Relative Strength Indicator RSI Stochastic Stoch Volume o Cumulative Bid Ask CBAVol Cumulative Bid BVol Cumulative Ask AVol Volume Delta Vol Volume Delta Histogram Vol A Hist o Cumulative Vol Delta TT CVD Volume At Price VAP Williams WillR O O O Refer to Technical Indicator Definitions on page 115 e Change Interval Changes the time interval between roll up periods which was originally set when the chart was created minute 15 minutes 3 minutes 30 minutes 5 minutes 60 minutes 10 minutes Daily e Daily Value Box Removes the product values from the top
25. of crossed vertical and horizontal lines which extend the length and width of the chart Data Tip Disables the data tip pop up feature from appearing on rollover when de selected Selected by default X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus e Add Drawing Tool Allows you to draw objects on the graph Trendline A line displaying the upwards or downwards trend on a chart Fibonacci Retracement Lines indicating potential support and resistance levels at which an upward or downward trend may end based on relationships to the original move Fibonacci Extension Lines indicating potential target levels at which an upward or downward trend may end based on relationships to the original move Horizontal Marker A line you place horizontally extending the width of the chart Vertical Marker A line you place vertically extending the length of the chart Text A tool used to type directly onto the chart Stay In Drawing Mode Click to remain in drawing mode after you use a selected drawing tool Snap to High Low When enabled points you place or drag in the chart snap to the nearest high or low price to ensure precision Enabled by default Refer to Adding Lines and Text on page 89 for more details Add Position Study Fill Indicators Shows your buy and sell positions on the chart Refer to Adding Fill Indicators on page 88 for
26. that allows you to exit from your position regardless of your credit limit You have successfully traded out of a position 50 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Executing Trade Reading the Execution Grid The Execution Grid is styled after MD Trader and is made up of four columns Note MD Trader is protected by U S Patents Numbers 6 766 304 and 6 772 132 m n Buy column Displays current market R bids Click a cell in this column to place a 7106305 buy order Contains blue Delete delete all buys button at the bottom 106300 106295 Price column The price of rename 106290 a Contains TradeOut button at the bottom 106285 4436 v Tip You can use the mouse scroll to 106280 4338 scroll the price column 106275 06275 776361 Sell column Displays current market 106270 asks Click a cell in this column to place a 106265 1817 1052 sell order Contains red Delete delete all 6428 106260 MEM sells button at the bottom 4309 106255 Order column Displays your order 4570 106250 EM markers Contains Del delete all 3833 106245 DEM orders button at the bottom 4537 106240 High and low trades for the day are marked in the price column The yellow overline indicates the high The red underline indicates the low Delete TradeOut Delete Del ALL Price cells inside the high and low of the day are sh
27. the Fast K Values Period of Moving Average used to smooth the Slow K Values Significant Parameters The parameters that appear in parenthesis next to the abbreviation on a chart Stoch Fast K Period Slow K Period Slow D Period 144 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Example 22 07 1 Min CME Globex Forex 13237 0 132500 L 1931640 Li 1 51 56 0 199103 Stoch i 14 i E 5 J 4 E LE L i 07 00 is 0730 Trading Technologies 145 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Volume Cumulative Bid Ask CBAVol The Cumulative Bid Ask Volume CBAVol study displays the total amount of transactions occurring on both the Bid and the Ask in a given time interval Formula Bid Ask Volume Tick Number of transactions at the Bid and the Ask Bid Ask Volume Actual Number of contracts traded at the Bid and the Ask Example 07 1 Min CME Globex Forex O 13237 0 153250 0 L 153164 0 L 153155 0 0009 106 45 07 00 07 15 146 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Cumulative Bid BVol The Cumulat
28. 0000 Cloze 6 Repeat Step 5 as desired adding up to ten legs 7 Ifyou change your mind regarding added legs 10 11 e disable a leg from the chart click to deselect the Enabled box e Toremove a leg from the Spread Builder tab click the Clear button e Toremove all of the legs from the Spread Builder tab click the Clear All Legs button To adjust the ratios of each leg click the spinner arrows to set each leg positive or negative The Spread Name field changes based on the set ratios In the Chart Type field choose the type of chart you want to create In the Roll up field click the time interval you want to chart for this contract In the Spread Type field click Bid Ask or Last Last e Last Last Charts the difference between the current Last Traded Prices LTPs whenever one of the legs updates the LTP Bid Last Charts the difference between the Bids of the legs whenever one of the legs trades on the Bid Conversely it charts the difference between the Asks of the legs whenever one of the legs trades on the Ask Bid Ask Ask Bid Charts display the effect of giving up edge on each leg of the spread When one leg trades on the Ask the difference between the Bid of this leg and the Asks of the other legs displays Conversely when one leg trades on the Bid the difference between the Ask of this leg and the Bids of the other legs displays X STUDY 1 4 Feature Guide Trading Technologies Inter
29. 164 0 L 131 64 1 56 0 Y 196158 Pul _ 7 O 106 45 07 00 07 15 07 30 Trading Technologies 141 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Rate of Change ROC 142 The Rate of Change ROC indicator compares the current price with the previous price from a selected number of periods ago The current price is divided by the previous price and expressed as a percentage This indicator 1s also commonly known as a Momentum indicator Formula ROC Current Price Price of n bars ago 1 0 100 Where n Time period Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart ROC Time Periods Example 07 1 Min Globex Forex O 113237 0 H 13250 0 L 13164 0 L 13155 20 57 0 Y 198324 ROC 14 0 00 6 45 07 00 07 15 07 30 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Relative Strength Indicator RSI The Relative Strength Index RSI was published by J Welles Wilder The current price is normalized as a percentage between 0 and 100 The name of this oscillator is misleading because it does not compare the instrument relative to another instrument or set of instruments but rather represents the current price relative to other rec
30. 406275 406270 106260 106255 106250 106245 106240 106235 106230 106225 406220 TradeOut Del ALL The Execution Grid The Execution Control Panel Trading Technologies 19 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 20 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information About This Document About This Document Introduction to X STUDY 1 4 Feature Guide This X STUDY documentation contains both general and specific information about the application It also includes procedures designed to aid you in learning how to use and interact with the application This is not intended as a tutorial to every function and option available in X STUDY nor does it substitute for the training you receive from your Trading Technologies representatives Note TTTM recommends that you practice trading with TTTM products in a simulated environment before actually performing live trades Conventions This guide uses a set of terms symbols and typographic conventions to categorize specific information Familiarity with these conventions will help you use this guide more effectively The following icon 15 used in this guide gt A procedure that you should follow to complete a task Trading Technologies 21 Trading Technologies International Inc Proprietary and Confidential Information
31. 47 ITADINGO TROC BDUDES dni a acces E E T uaa e 48 TRADING OUT OB APOSUFION S dido OE xa etae eoo odi top bue be bre SS 50 READING THE EXECUTION GRID 5 SHADING UIN THE B XECOTION GRID dep a oa cate Cae mau 52 USING THE EXECUTION CONTROL A EE teo 53 MANAGINTGOPDIER TYPES cra A N EA ATT ERN 55 OP ORDEI ea S 55 CHAPTER 4 USING CONTEXT 57 CHART AREA CONIBXIIVIENULS a uerit ates ita iol bte tuer aiv Pear 58 CHAPT C ONTEX gua cd E oboe Peat qu THU s que Ast a AE 62 DAILY VALUE BOX CONTEXD MENU sists cect cuts ala ei 64 TIIEBBAPSCONTEXT MENU eens 66 EXECUTION GONTROL PANEL CONTEXT MENU 67 BXECULDIONORIDCONEEXT MENU eite ore eate 68 PRICE ASUS CONTI XE NIBNU manana ITA DD D 70 TECHNICAL INDICATOR CONTEXT MENU veut Sorten terne bara neon TA T INEELACXIS ONT tient os dE Usu ordres ee toten ere tiated 74 TEBNDEINE 76 PRICE DISTRIBUTION CONTEXT MENU te pedes tito one 78 EAM E OR utu MM a M M M 83 iv X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential
32. 53 122 62 122 61 122 60 122 59 122 58 122 57 122 55 In this example We use the default parameters for Auto Split e Initial value is 7 e Breakout Lookback value is 3 Auto Split counts the first 7 TPA letters k l m n p q r and looks for a break in the last 3 TPA letters A break 15 not recognized so Auto Split continues looking for a break in the next 3 letters 9 5 Then the next r s t And so on In the example a break was recognized between TPA letters t and v The data was split and new open and close arrows were added for the split TPAs Auto Split repeats its pattern using the default parameters counting the first 7 TPA letters v w x y Z A B and looks for a break in the last 3 TPA letters z A B In the example a break was found between TPA letters A and B X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Chapter 5 Customizing X STUDY Charts There are several ways you can customize the X STUDY window Adding Fill Indicators Adding Lines and Text Changing Time Intervals Changing Your View of the Charts Hiding Data from View Linking to Excel Managing Custom Sessions Using the Global Properties Menu Managing Chart Window Properties Managing Technical Study Properties Trading Technologies 87 Trading Technologies International Inc Proprietary and Confi
33. EMENTS ccccccscccsscccscccssccesccessceesscescceusceessceusceenceeuecss 15 USABILITY ENHANCEMENT S zh toe ted em Sodas nace 15 INTRODUCING cuve quss Cy abes Ps Cot sole Cone ee cov ERU 17 ENHANCES THE X TRADER PLATFORM ccccccecececessssssvsvscsesececucecesavsvevevsvesececucacasavavavavaveeees 17 UNIOUE ARCHITECTURE 35205552 17 UNOUEDATA SE oeae cles OE 18 UNIOUE VOLUME ANALY S Saane a e ibe a O 18 UNIOUE SPREAD CHAR TS e a a a a e e a 18 POWERFOLANACYTICAL TOOL N 18 CHARTSBASEDAEXECUTIONUS 18 ANATOMY ORA CHAR s sta 19 ABOUT THIS DOGCUNMIENT eee E 21 INTRODUCTION TO X STUDY 1 4 FEATURE eene eene 21 CONVENTIONS DE Mr 21 KEYBOARD FORMA uote deett abite stad icc nds eee in ees 22 RELAT D DOCUMENTA VION rerien e a T O e dee 23 GLOBAL CLIENT SUPPORT GEN TER 23 AUTOMATED PHONE MENU cedet Retos inest eic Ead 24 CHAPTER 1 USING THE CONTROL PANEL e ee eee 25 Rl SANUS 26 SETTINGS use ELE LII LM MM MI E ET Sree rn 26 WINDOW sets Secreta DUKE ta Ace heme 27 inse ETE 27 Trading Technologies iii Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Featur
34. Format Studies window click to select the data you want to restore 4 Click to select the Visible property Format Studies Mar06 1 Min GLOBEX Foreign Exchange Session 06 Aj BE Mar Position O C E3EL Mar06 DMI Level Study Parameters BE MarOGDMI US Level Keltner Channel Properties BE 0 0 BE MarQl6 DMI DI ATR Factor BE 0 BE Mar06 KC MLine BE MarOB KC UB and Simple SMA Update Frequency Bar Completes Property 0 Coo IndianRed Curent Value Text Color Will Black Raw True Solid 1 Visible True bal True Determines if the series is visible 5 Click the l next to the Visible property and select True The data 15 restored on the chart 6 Click OK to keep the data hidden You have successfully restored the hidden data Trading Technologies 99 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Linking to Excel You can link the current market values of trendlines and technical indicators from X STUDY to Excel Once linked Excel updates in real time as new values are generated in X STUDY Note You can also paste values from Excel into X STUDY as Level Lines Refer to Adding Lines and Text on page 89 for details gt To link to Excel 1 Right click the trendline or technical indicator you want to link to Ex
35. I and DI as a percentage of the True Range DI DM 100 DI DM 100 Compute the Directional Difference as the absolute value of the differences DIdiff DD DD Sum the directional indicator values DIsum DI DI Calculate the Directional Movement index DX DIdiff DIsum 100 The DX 1s always between 0 and 100 Finally apply Wilder s smoothing technique to produce the final ADX value ADXt ADXt 1 n 1 DXt n Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart ADX Time Periods Example 07 1 Min Globex Forex O 132370 H 132500 L 1315640 13179 00 194741 14 6 45 07 00 07 15 07 30 Trading Technologies 119 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Bollinger Band BB The Bollinger Band BB study created by John Bollinger plots upper and lower envelope bands around the price of the instrument The width of the bands 15 based on the standard deviation of the closing prices from a moving average of price Formula Simplified Middle Band n period moving average Upper Band Middle Band y n period standard deviation Lower Band Middle Band y n period standard deviation Where n number of periods y factor to apply to the standard deviation valu
36. Information X STUDY Version 1 4 Feature Guide Directional Movement Indicators DMI 124 The Directional Movement Indicators DMI are components of the Directional Movement system published by J Welles Wilder and are computed with the Average Directional Movement Index ADX Two indicators are plotted a Positive DI DI and a Negative DI DI Formula Directional Movement DM is defined as the largest part of the current period s price range that lies outside the previous period s price range For each period calculate DM positive or plus DM High Previous High DM negative or minus DM Previous Low Low The smaller of the two values is reset to zero 1 if DM gt DM then DM 0 On an inside bar a lower high and higher low both DM and DM are negative values so both get reset to zero as there was no directional movement for that period The True Range TR is calculated for each period where TR Max of High Low High PreviousClose PreviousClose Low The DM DM and TR are each accumulated and smoothed using a custom smoothing method proposed by Wilder For an n period smoothing 1 n of each period s value 1s added to the total each period similar to an exponential smoothing DMt DMt 1 DMt 1 n DMt DMt DMt 1 DMt 1 n DMt TRt TRt 1 TRt 1 n Compute the positive negative Directional Indexes DI and DI
37. Information X STUDY Version 1 4 Feature Guide Multiple Price Channels PC Example By default the Price Channel uses an Upper and Lower Band Lookout period of 20 in its calculations If you add a second PC and change its Lookout periods to 10 you will see two sets of PCs on the same chart je To add a second Price Channel 1 To differentiate the original PC from the new one right click the lower PC and click Properties Change the Color to Red Repeat Steps 1 and 2 on the upper PC Right click the chart area and add a second Price Channel technical study to the chart The second set of PCs appear directly on top of the first Right click the Price Channel and click Properties Change the Lower Band Lookback Period field from 20 to 10 Change the Upper Band Lookback Period field from 20 to 10 Note Changing the Lookback Period is just an example Other properties can be changed 8 Click OK You have successfully added a second Price Channel GA 5 6 60 Min CME GLOBEX Foreign 6A Sep06 60 Min CME GLOBEX Forlan 73211 7274 L 7281 47 6002 3 321 7274 Li EFE ut PES ES IT mM RE ee RNV GATES INED RUN Ji One PC with Upper and Lower Band Lookback Period 20 Second KC with Upper and Lower Band Lookback Period 10 Color Red 114 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary
38. LITY AND FITNESS FOR A PARTICULAR PURPOSE ARE DISCLAIMED IN NO EVENT SHALL THE REGENTS OR CONTRIBUTORS BE LIABLE FOR ANY DIRECT INDIRECT INCIDENTAL SPECIAL EXEMPLARY OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES LOSS OF USE DATA OR PROFITS OR BUSINESS INTERRUPTION HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY WHETHER IN CONTRACT STRICT LIABILITY OR TORT INCLUDING NEGLIGENCE OR OTHERWISE ARISING IN ANY WAY OUT OF THE USE OF THIS SOFTWARE EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE 154 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Index Accumulation Distribution 116 AD 116 Adaptive Moving Average 128 Adding 59 89 fibonacci lines 89 fill indicators 68 horizontal markers 89 level lines 90 multiple indicators 111 splits 83 technical indicators 109 text 89 trendlines 89 vertical markers 89 ADX 118 AMA 128 Anatomy of a chart 19 ATR 117 Average Directional Movement 118 Average True Range 117 AVol 148 BAVol 146 BB 120 BBW 122 Bold conventions 22 Bollinger Band 120 Bollinger Band Width 122 Bollinger Bands multiple example 112 BVol 147 Candlestick chart 41 CCI 123 Centering charts 34 global groups 34 Changing chart types 62 colors 62 104 106 Cursor 58 price scale 70 prices to yield 94 sessions 101 study colors 107 technical indicator properties 110 time intervals 92 view o
39. M Time Periods Example 07 1 Min CME Globex Forex 1982320 Hi 1832500 L 1931640 1515800 Vs 197522 MOM 14 EE 07 00 07 15 EE Trading Technologies 135 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide On Balance Volume OBV On Balance Volume OBV maintains a cumulative running total of the amount of volume occurring on up periods compared to down periods Formula OBV Cumulative Up Volume Down Volume Where e Volume Actual Tick e Up Volume Quantity of volume occurring on up price change e Down Volume Quantity of volume occurring on down price change Example 07 1 Min CME Globex Forex O 1523 7 0 H 13250 00 L 13164 0 L 1351610 61 0 Y 197755 106 45 07 00 07 15 07 30 136 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Percent Price Oscillator PPO The Percent Price Oscillator PPO is based on the differences between two moving averages of different lengths a Fast and a Slow moving average The PPO is the difference of the two averages divided by the slower of the two moving averages which tends to normalize the values across different instruments Formula FastMA SlowMA SlowMA 100 Where FastMA 15 the shorter moving averag
40. Not required The factor by which the futures price will be multiplied if the specified bond is delivered against it Must be greater than 0 1 and less than 5 0 and accurate to 4 digits precision Must be specified if yield 1s being calculated for a future e Coupon Frequency Number of coupons per year to 12 End of Month Convention Determines whether coupon payments always occur on the last day of the month if the settlement date falls on the last day of the month e Optional Settings First Coupon Date The first real coupon date Must be less than the maturity date and be a valid coupon date Must be specified if the bond has an odd first coupon period and the settlement date falls within this odd first coupon period Dated Date The date upon which interest accrual begins Must be less than the first coupon date Must be specified if the bond has an odd first coupon period and the settlement date falls within this odd first coupon period Example Price Conversion Example Price Lets you view the converted price based on the parameters you select Conversion 96 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts To display price as yield 1 Right click the Price Axis and click Yield The Yield Properties dialog box appears 2 Click to select the Display Price As Yield option 3 In the Yield Type field click to s
41. Roll Up field on the Chart Manager window to aggregate transactions into specific time increments You can change the time interval in an existing chart to display other roll up periods There are two ways to do this Changing the time interval using the context menu e Changing the time interval by typing a value To change the time interval using the context menu 1 Click the chart whose time interval you want to change 2 Right click in the chart area to access its context menu 3 Hover the mouse over Change Interval and click the time interval you want to use Your options include e minute 10 minutes 60 minutes e 3 minutes e 15 minutes e Daily 5 minutes 30 minutes You have successfully changed the time interval using the context menu p To change the time interval by typing a value 1 Click the chart whose time interval you want to change 2 Type a new time increment in minutes The number can be between 1 and 1440 minutes 3 Press Enter You have successfully changed the time interval by typing a value 92 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Changing Your View of the Charts X STUDY charts are easily expanded and compressed to give you a customizable look at historical data To change your view of charts follow these procedures e Expanding or compressing the gap between measured prices
42. S is 8 30 15 15 which corresponds to the NYSE market and pit contacts Likewise trading time for NQ and ER2 is 8 30 15 15 For ZN ZX and ZB it is 7 20 14 00 e Custom Sessions Allows you to choose from a list of sessions you create e Edit Custom Sessions Allows you to create a custom session Refer to Managing Custom Sessions on page 101 for more details 74 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Time Axis Properties Allows you to change the appearance of the time axis Format Time Axis Window 07 1 Min No hist X Style Back Color 189 195 211 Verdana Spt Color 65 81 137 The TT box at the bottom of the screen displays information on highlighted properties p To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4l button at the end of the line Select the desired value of the property The selected value 1s automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property Trading Technologies 75 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Trendline Context Menu To access the trendline context menu right click the drawn trend line on the graph
43. TIONAL MOVEMENT 118 BOELINGER BAND B oenar a a E in ge det 120 BOLLINGER BAND WIDTH BD Oen dt 122 COMMODITY CHANNEL INDEX GG N E Na 123 DIRECTIONAL MOVEMENT INDICATORS 124 a eats e 126 ISEETNER CHANNEL eris aet nce onto ccce S tU 27 MOVING A VERAG roca cesta eae bail ness 128 MOVING AVERAGE CONVERGENCE DIVERGENCE 134 MOMENTUM MOM eiiis M M DIM E EL A DE 135 ON BAEANCE VORDMEN OBN niet eive eom Qu rom bei tento vn toU rov oen 136 PERCENT PRICE OSCILLATOR PRO i iiti iussu ceo Eo oos ats mae Rees 137 PARABOLIC SARSAR cocotte pe deis o epus 138 PRICE CHANNEL PG bet eot iut 140 PRICE VOLUME TREND PV T a tipa durer esp ted tinet eta a 141 IRA FEOF CHANGE 142 RELATIVE STRENGTH m ele epe lor Oi isp aw he win eme 143 STOCHASTIC STOCH hern metes ud ded tue edt ctc LM UP I DU tops M as 144 IVS Senatui nda cM ME IM M M E CMM A M MR 146 VOLUMEAT PRICE VAP T Vides ted et M bebe et I gei ese Eidos and sees 152 Yo TW ELR e 153 COPY RIGH PLAICE NS ING sta aus 154 Trading Technologies V Trading Technologies International Inc Proprietary and Confidential In
44. TPA Data Window In addition the breakdown of the Price Distribution Context Menu is on page 76 Trading Technologies 43 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Reading the Chart TTT Wf Letters indicate Time Price Area TPA 2 FISHI LMN E The vertical shade dark blue indicates the Initial IF CHT dA LB E Balance Range which are the first two TPAs of the day T TELPQ i TEPO The horizontal scarlet shade indicates the point Ex of control POC which is the largest number of J TPAs for the distribution Arrow pointing to the right indicates the open This is the first actual traded price not the last session s close Arrow pointing to the left indicates the last traded price LTP of the distribution Bracket indicates midpoint during the distribution The thin blue line indicates the TPA Value Area which is where 7090 of the TPAs occurred The thick blue line indicates the Volume Value Area which is where 70 of the volume for the distribution occurred Note The colors in this example are customizable using the Properties option on the Price Distribution context menu 44 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Identifying Chart Types Time Price Area letters Time Price Area TPA letters are assigned in 30 minut
45. TUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Multiple Keltner Channels KC Example By default the Keltner Channel uses a Simple Moving Average SMA in its calculations If you add a second KC and change how the moving average 15 calculated you will see two sets of KCs on the same chart je To add a second Keltner Channel 1 To differentiate the original KC from the new one right click the lower KC and click Properties Change the Color to Red Repeat Steps 1 and 2 on the upper KC Right click the chart area and add a second Keltner Channel technical study to the chart The second set of KCs appear directly on top of the first Right click the Keltner Channel and click Properties Change the MA Type field from Simple SMA to Weighted WMA Note Changing the moving average is just an example Other properties can be changed 7 Click OK You have successfully added a second Keltner Channel 6A Sep06 60 Min GLOBEX Foreign Sele 6A Sep06 60 Min CME GLOBEX Foreign N A H 7321 L 7274 L 7282 4 1 5683 7321 7274 1 7281 er EPUM Ra m een ayes Se Es Ee 10 00 00 0 1n One KC with a MA Type Simple 5 SMA Color Red Second KC with a MA Type Weighted WMA Trading Technologies 113 Trading Technologies International Inc Proprietary and Confidential
46. aded a darker gray Notes resize or move a column click and drag the headers or borders Double click a border to fit the column to the text e As orders are placed order markers appear in the order column of the Execution Grid The format 1s Working orders Fills When quantities are completely filled the order marker disappears Trading Technologies 51 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Shading in the Execution Grid e Inthe price column the Average Price of the current position is shaded if you are long or short Long positions are rounded up and shaded Short positions rounded down and shaded i ast Traded Quantity LTQ delta and Accumulated Last Traded Quantity LTQ in the price column of the Last Traded Price LTP as follows If the LTP 15 greater than or equal to the Best Ask the Price Column LTQ background cell color is Green If the LTP is less than or equal to the Best Bid the Price Column LTQ background cell color is Red If the Bid Ask are equal 1 e crossed market or unavailable the Price Column LTQ background cell color is White Note If the Accumulated Last Traded Quantity LTQ 1s unavailable rather than displaying a zero LTQ field displays as a one 1 1 e 1 3 instead of 0 3 52 X STUDY 1 4 Feature Guide Trading Technologies International Inc Propr
47. ader offering both Price as Yield and Yield to Maturity options Yield Properties Display Price Yield Type 100 Price Convert 365 Day Year C2 Display Yield To Maturity Coupon Rate 0 Settlement Date 13172007 Maturity Date ime v Count Conversion Factor IJ Coupon Frequency First Coupon Date 13172007 v Dated Date 13172007 o Example Price Conversion Price 105255 94 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Yield Properties Field Descriptions Display Price As Yield Display Price As Yield Displays price as a percentage representing annual rate of return Yield types e Conv The instrument price is in yield Conversion not necessary e 100 The yield is calculated by subtracting instrument price from 100 Calculation for the Euribor e 10000 Price 100 The yield is calculated by subtracting the instrument price from 10000 and dividing the result by 100 Calculation for the Eurodollar e 10000 Price Strip Base 100 Eurodollar Strip type yield a base settlement is added to the instrument price before the Eurodollar conversion Calculation for the exchange traded Strip Pack or Bundle Convert to 365 Day Year Converts 360 days to 365 days Strip Base Average settlement price of the contrac
48. ading Out of a Position Note Orders placed in X STUDY can also be modified and deleted in X TRADER Ee To enter an order 1 2 3 Right click the chart area and click to select the Execution Grid Right click the chart area and click to select the Execution Control Panel Using the Execution Control Panel set the quantity you want to buy or sell Either Type a quantity in the quantity box Or Click the up or down spinner in the quantity box If you want to choose an order type click to select SL Stop Limit or SM Stop Market If no order type 15 selected a Limit order 15 set by default If you want to trade under a specific account select the account from the Account Selection box To buy in the Execution Grid click in the blue column next to the price you want to buy To sell in the Execution Grid click in the red column next to the price you want to sell An Order Marker appears in the Order column displaying the working quantity and fill information You have successfully entered an order To change the price of an order 1 2 Right click and hold the order that you want to move Drag the order to another price level and release the mouse button If during the drag you change your mind press the Esc key You have successfully changed the price of an order 48 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Informati
49. art and you help recognize its trends Most of these lines are added to the chart using the Chart Area context menu In addition you can paste values from Microsoft Excel as Level Lines Level Lines are links that appear as horizontal lines at the same price level and with the same color as the cell in Microsoft Excel Changes made in Excel to the cell value or color update automatically in X STUDY You can see a Level Lines example under the procedure on the next page To add lines and text follow these procedures e Adding Text e Adding Level Lines from Excel e Adding a Trendline or Fibonacci lines e Adding Horizontal or Vertical lines using the context menu e Adding Horizontal or Vertical lines using the axes Note To ensure precision when adding lines to the chart the Snap to High Low option is enabled by default When enabled points you place or drag in the chart snap to a high or low price when your cursor 15 close e To disable the Snap to High Low option temporarily hold down the Shift key while you move your cursor e disable the Snap to High Low option completely deselect the option from the Add Drawing Tool option in the Chart Area context menu To add Text drawing tool 1 2 3 4 Right click an open area in the chart and highlight Add Drawing Tool Click the Text drawing tool Click on the chart where you want to type text The text box appears Type the text you want to add to the chart
50. ay in the Quantity box Usability Enhancements Enhanced fill indicators viewable technical indicator parameters and updated context menus Trading Technologies 7 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Support for Stop Orders You can now place Stop Limit and Stop Market orders using the Execution Control Panel Both order types trigger when the market reaches your price level Then they become Limit and Market orders respectively Click SL or SM order type button you want 106270 a to use before placing an order Then click the 106265 Execution Grid to place order 106260 Bee Notes 106255 If neither SL nor SM are selected you will enter a Limit order e Set the Stop order type to Sticky to keep the Stop order type persistent after you have placed an order 5 pepe 6641 106230 NE Re click the yellow SL or SM button to stop placing that order type For Stop Limit orders you can set an offset tick number to trigger the order The default is 5 Refer to Managing Order Types on page 55 and Using the Execution Control Panel on page 53 for more details 8 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information What s New Yield Price Displays You can choose to display your Price Axis in yield using the Price A
51. ays a running total of net transactions as calculated by Volume Delta Transactions occurring on the Ask are considered Buying Pressure and are added to the total and those occurring on the Bid are considered Selling Pressure and are subtracted from the cumulative total Formula TT CVD Cumulative Vol A Vol A 7 Difference between Bid Volume and Ask volume over specified interval Bid Volume Accumulated Bid Volume Ask Volume Accumulated Ask Volume Buying Pressure TT CVD gt 0 Selling Pressure TT CVD lt 0 Example 07 1 Min CME Globex Forex 1982320 Hi 13250 0 L 13164 0 Li 13157 0 200565 Trading Technologies 151 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Volume At Price VAP The Volume at Price indicator adds horizontal histograms representing traded volume to bar line and candlestick charts By default the VAP appears along the price axis but this can be changed to the left side of the screen using the properties menu In the example below 7090 of the traded volume 15 shaded a darker gray The longest volume is shaded blue These colors are configurable Note You cannot apply the VAP technical indicator to Price Distribution Tick nor Spread charts Formula Each horizontal bar 1s centered on the price level and represents the relative total volume traded at that price
52. ca of your existing chart See Displaying Yield Prices on page 94 e Page Setup Allows you to adjust your margins paper size orientation and printer for the purpose of printing a chart Print Preview Allows you to view the pagination of your chart before printing Print Sends the selected chart to the printer e Rename Window Launches the Rename window e Close Closes the selected chart p To rename a chart 1 Right click the titlebar on the chart you want to rename 2 Click Rename Window The Rename Window dialog box appears Rename Window Type the name you want to give the chart in the space provided Click OK You have successfully renamed a chart 66 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Execution Control Panel Context Menu Right click a blank area on the Execution Control Panel to access its context menu Hide ECP ECP Properties The following options are available e Hide ECP Removes the Execution Control Panel from view e ECP Properties Allows you to set the default quantity using the Properties menu ECP Properties 5 Stop Limit Order Normal Stop Market Order Normal Positive integers 1 ta 9 999 inclusive The TT box at the bottom of screen displays information on highlighted properties To change a property 1 Click the default quantity
53. cel 2 Click Link Current Value 3 Open the Excel sheet in which you want to paste the data 4 Right click the Excel cell and click Paste You have successfully linked the X STUDY value to Excel 100 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Managing Custom Sessions The Custom Session option on the Time axis context menu allows you to control the hours you view when using X STUDY to research a product By default the Time axis 15 set to Exchange Sessions which 15 the default times established by the exchange and covers all hours the instrument 15 open for trading Alternatively you can choose Primary Sessions which are the product s most active and liquid times If neither of these options 15 right for you you can create a custom session using Custom Session Editor Custom Session Editor Sele Fredefined Sessions GLOBE Foreign Exchange Schedule 12 34586 6 9 10171 p 1314 15 1617 15 19 20 21 22 23 Su eee Mn TT Hm Wed as Group e rJ rJ r Delete Apply Close Manage custom sessions using the following procedures e Creating a custom session e Editing a custom session e Deleting a custom session e Applying a custom session Trading Technologies 101 Trading Technologies International Inc Proprietary and Confi
54. chart On Balance Volume Order types Parabolic SAR Pasting from Excel to Excel 140 Percent Price Oscillator Postion study PPO Price axis centering setting scale Price Channel multiple example Price Distribution context menu display tick volume display volume properties splits Price Distribution chart Price Volume Trend Primary session Printing all charts one chart PVT Rate of Change Reading candlestick chart charts close chart execution control panel execution grid fill indicators hlc chart ohlc chart price distribution chart tick chart Relative Strength Indicator Renaming a chart ROC RSI SAR Session applying creating deleting editing exchange managing primary 158 26 27 135 135 134 136 38 136 55 138 90 100 137 88 137 70 70 70 140 114 78 79 79 80 79 83 43 141 101 26 60 141 142 41 37 40 53 5 88 39 38 44 42 143 66 142 143 138 74 101 103 102 103 103 101 101 101 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Index Settings menu 26 Simple Moving Average 131 SMA 131 Splits 79 example 83 Spread Builder 31 Stochastic 144 Stop orders 55 Support 23 24 Global 23 Technical indicator adding multiple 111 context menu 62 72 copyright 154 definitions 115 hiding 98 linking 100 Technical indicators accumulation distribution 116 adaptive moving average 128 adding 109
55. d And if short obviously the ask 15 key If you choose to trade out using a LIMIT order you assign a specific number of ticks to skew to ensure that your order once entered not necessarily executed 15 only a pre determined distance from the inside market at the time you submitted the order Then when you click the TradeOut button the current inside market is reviewed and an order 15 entered based on the price at that time If the market 15 moving rapidly and the offsetting price 15 no longer available the system leaves this order as a working limit order at the price determined at the time you clicked the TradeOut button To trade out of a position perform these procedures Setting the trade out method Trading out of a position b To set the trade out method If the Execution Grid is not visible right click chart area and click Execution Grid In the Execution Grid right click the Price column and click Format Execution Grid In the Order Type field choose your trade out method Limit or Market If you choose Limit in the Limit Price Offset in Ticks type the number of ticks to skew Click OK You have successfully set the trade out method To trade out of a position 1 Set your trade out method 2 Click the TradeOut button on the Execution Grid Before sending the offsetting order X STUDY sends delete requests for all working orders for that contract X STUDY then sends an order
56. data Daily Value box context men Right click the Daily Value box in the upper left corner Titlebar context menu Right click the top of the window where the title 1s displayed Execution Control Panel context menu Right click an empty area Execution Grid context menu Right click the Price column Price axis context menu Right click the vertical axis Technical Indicator context menu Right click the technical indicator data lines Time axis context menu Right click the horizontal axis Trendline context menu Right click the drawn trendline Price Distribution context menu Right click the Price Distribution graph or data Trading Technologies 57 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Chart Area Context Menu 58 To access the chart area context menu right click an open area away from the data trendlines and axes Cursors Add Drawing Tool Add Position Study Add Technical Study Change Interval w Daily value w Price Axis w Execution Grid w Execution Control Panel Technical Study Properties Chart Window Properties The following options are available e Cursors Changes the look of your pointer to one of three options Also provides an option to disable data tips Arrow A standard Windows white arrow Vertical A vertical line extending the length of chart Cross The center point
57. ded Click Close You have successfully changed the property Trading Technologies 77 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Price Distribution Context Menu A Price Distribution chart contains data which looks entirely different than the other chart types available in X STUDYTM As such the chart has a unique context menu F 25 06 1 Min GLOBEX Foreign Exchange Session ug ates eg dee aera PM Di Refer to Identifying Chart Types on page 37 for details on Price Distribution charts To access the Price Distribution context menu right click an open area on the Price Distribution chart Split Al Remove All Splits Auto Split Reset Default Distributions Display Volume Display Tick Yolume Properties Paste Link Daily value Box Price Axis Execution Grid Execution Control Panel 78 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus The following options are available e Split All Separates each TPA into one column so you can better view the distributions and breaks Note Rather than split all you can manually click a TPA to split it into its own column away from cluster This cannot be done if Auto Split is checked Refer to Examples of Splits on page 83 e Remove All Splits Returns all TPA letters
58. dential Information X STUDY Version 1 4 Feature Guide Adding Fill Indicators The Fill Indicator option on the Chart Area context window allows you to view your position in the market as trades are made The net result 1n ticks of the completed trades displays in the fill indicator data tip d To add fill indicators 1 Right click an open area in the chart and highlight Add Position Study 2 Click Fill Indicators You have successfully added fill indicators Fill Indicators Example ER2 Position OC acae tl Gf eta Met Ticks 150 20 50710 20 a 5 80720 5 50730 80700 10 0 1 2060 206 g 20650 80840 50610 88 Red arrows are short trades Blue arrows are long trades Right facing triangles indicate opening a position Dashes indicate market entry points while holding a position Connecting lines can be displayed to tie the entry with the exit for a position Left facing triangles indicate closing a position Mouse hover an indicator shows Date and time of entry The net result in ticks of the completed trades Number of contracts and prices of each transaction X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts Adding Lines and Text Once you have created a chart you can add lines and text to customize the ch
59. dential Information X STUDY Version 1 4 Feature Guide b To create a custom session 1 Right click Time axis and click Edit Custom Sessions The Custom Session Editor appears In the Predefined Sessions field click the down arrow and select a predefined session to use as a template Click the Add button A New Schedule entry appears in the left margin Type the name you want to give to the session and press Enter 5 Ensure only the days of the week whose start and end times you want to change are 9 selected with a checkmark in the Adjust as Group column By default all days of the week are selected To change the start time for the selected days slide the Session Start tab to the desired time Notice the times on the bottom of the screen change to show you the exact placement time Alternatively you can utilize the spinner buttons or type directly into these fields on the bottom of the screen To change the stop time for the selected days slide the Session End tab to the desired time Repeat Steps 5 7 until you have set all of the days of the week you want to set for this custom session Your custom session 1s automatically saved To start over and not keep your work click the Delete 10 To view this session on the open chart click Apply 11 When you are finished creating custom sessions click Close You have successfully created a custom session 102 X STUDY 1 4 Feature Guide Tradin
60. ding Technologies 127 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Moving Average Adaptive AMA The Adaptive Moving Average 15 intended to prevent a trader from getting stopped out of positions in a choppy range bound market This is achieved by using an Efficiency ratio ER and Smoothing Constant C Using this system the moving averages respond quicker in a fast moving environment and slower in a slow moving environment Formulas Efficiency Ratio ER Direction Volatility Where Direction Price Today Price N periods ago where n AMA period Volatility Sum Absolute Value price price 1 n Fast Smoothing Constant FastC 2 2 p 1 Where p FSC Period Slow Smoothing Constant SlowC 2 q 1 Where q FSC Period Scaled Smoothing Constant SSC ER FastC SlowC SlowC c SSC SSC AMA 1 AMA 1 128 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Example 07 1 Min CME Globex Forex 13237 0 153250 0 L 131640 L 13160 0 AU 108 45 07 00 07 15 Trading Technologies 129 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Exponential EMA The Exponential M
61. e typical default for y 2 Detailed 1 Calculate the moving average The formula 15 o Pac iP ry is the price you pay for nth interval nisthe number of periods you select 2 Subtract the moving average from each of the individual data points used in the moving average calculation This gives you a list of deviations from the average Square each deviation and add them all together Divide this sum by the number of periods you selected q MAY P2 MAY LL HP MA Ft 3 Take the square root of d This gives you the standard deviation 8 4 Compute the bands by using the following formulas Upper Band M 26 Middle Band Lower 2 120 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Example 07 1 Min CME Globex Forex O 106 45 07 00 07 15 Trading Technologies 121 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Bollinger Band Width BBW 122 The Bollinger Band Width BBW indicator measures the width between upper and lower Bollinger bands To aid in comparing one instrument to another the width 1s expressed as a percentage of the middle band which is the moving average component of the Bollinger Bands The width of the bands is indicative of relat
62. e Guide CHAPTER 2 MANAGING CHARTS cvvxevscaecEeceuv uns cose e des 29 Du LE E PU NA LU 29 E DM ELS E MSIE 34 GLOBAL CENTERING GROUPS UD pieles 34 CLONING HART Seu 35 CHAPTER 3 IDENTIFYING CHART TYPES eee e eene eee eee reno none one 37 OHEC BARCHARTS eestor hese Saltese ttai o inve test avo sue red eee Sees tea M Acn Sta SIUE 38 ENDI INCM Y S 1DE DU Eta CE Du D Dep 38 HLCDAPQIABTISU eene csi dicc ILI E EM SII EE IIS 39 READING THE CHAR Me en vee ann En net gPRSP ate RO Sec C LIMEN CEDE 39 CLOSE CHAR US asses tint UCET RTEn 40 READING THE C HART A 40 CANDDESTICK CHART GS sist eet Rosa T tel ina Ro ER m Dto 41 READING THE 41 TEC EC HARE notos etiatn ded RE m oM MM E C MM E COE 42 READING THE 21 d RERO RO 42 l PICEADISTRIBUTION 2 dite itane doses AL E E rM dO 43 READE EHE C HARI mre dus UEM LM ML LU UE ME i UE 44 TIME PRICEJAARBATTIPACEBTTBRS uo cda iio uo on v VP S etd umet 45 PA DES O a II C S pM 46 EXECULING A TRADE uenti iei eea et sober
63. e and SlowMA 15 the longer moving average When the FastMA 15 greater than the SlowMA the PPO 15 a positive number and when FastMA is lower than the SlowMA the PPO is a negative value Significant Parameters The parameters that appear in parenthesis next to the abbreviation on a chart PPO Fast MA Period Slow MA Period Example 07 1 Min Globex Forex 0 1328320 H 13250 0 L 13164 0 L 131 600 62 0 PPO 3 10 A ad Zr f QU ome A et bt e 5 y 78x FT 0 0 1 ET ra VQ m b d EE 07 00 07 15 07 30 a Trading Technologies 137 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Parabolic SAR SAR 138 The Parabolic Stop and Reverse SAR calculates trailing stop points to use with long and short positions The SAR was published by J Welles Wilder as part of a complete trend following system The dotted lines above the price designate trailing stops for short positions those below the price are sell stops for long positions Formula For new long positions SAR P A H P Where SAR the long Stop and Reverse price at which the position 15 reversed from Long to Short e previous period s SAR e acceleration factor A begins at 02 for the period immediately after the initial SAR buy stop order opens the current lo
64. e periods They are plotted using the letter that is in progress at the beginning of each 30 minute period e e e E em m w isoo e 2200 rex um x mw rpm G 11 00 P 15 00 Y 19 00 g 23 00 p 3 00 y 7 00 H 11 30 Q 15 30 Z 19 30 h 23 30 q 3 30 Trading Technologies 45 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide TPA Data Window When in use the TPA data window appears at the bottom of the screen g y a 10 0 40 1000 The data window displays following volume distribution information Time Price High Highest price of the value area 70 indicator TPL Time Price Low Lowest price of the value area 70 indicator TPA Counts above and below the cursor If Display Volume or Display Tick Volume distributions are enabled the second and third boxes show of volume at price level to the total volume See Price Distribution Context Menu on page 76 to enable these features gt To use the TPA data window 1 Click the price scale A horizontal line stretches across the width of the chart 2 Right click the chart area The TPA data window appears 3 Move your cursor over a line of data The horizontal line follows and the information in data window changes 4 Right click the price scale to deactivate the data window and horizontal line You have successfull
65. echnical indicators yield prices VAP Vertical markers VolA histogram Volume at price Volume Delta Volume Delta Histogram Weighted Moving Average Williams R WillR Window menu WMA X STUDY customizing introducing Yield prices 160 45 46 47 48 49 48 94 55 48 50 76 59 89 76 76 100 76 132 132 151 37 21 29 57 25 53 5 88 104 101 83 109 115 94 152 59 149 150 152 149 150 133 153 153 27 133 87 17 94 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information
66. ed 26 days ahead of today Leading Span 2 Highest High Lowest Low 2 for the past 52 days plotted 26 days ahead of today Cloud Shaded Area between Span and Span 2 Example 1 Min Globex Forex 1382320 H 13250 0 L 13164 0 L 131790 63 0 es 07 00 07 15 07 30 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Keltner Channel KC The Keltner Channel was introduced in 1960 by Chester W Keltner in his book How to Make Money in Commodities and is also explained by Perry Kaufman s book The New Commodity Trading Systems and Methods Keltner Channels plots three lines consisting of a simple moving average typically of the average price with upper and lower bands plotted above and below this moving average The width of the bands 15 based on a user defined factor applied to the Average True Range with this result added to and subtracted from the middle moving average line Formula Middle Line n period moving average of High Low Close 3 Upper Band Middle Line Lower Band Middle Line y ATR Where n number of periods y factor applied to the Average True Range of n period Example 07 1 Min CME Globex Forex O 1328320 H 1325010 L 13164 0 L 131851 0 61 0 EE 07 00 07 15 07 30 Tra
67. elect the yield type you want to use After you choose an option the Example Price Conversion section shows you what the converted price would be using your choice 4 If you chose yield type that figure in the Strip Base type that number into the Strip Base field 5 If you want your yield displayed on 365 calendar year click to select Convert To 365 Day Year 6 Click OK You have successfully displayed price as yield p To display yield to maturity 1 Right click the Price Axis and click Yield The Yield Properties dialog box appears 2 Click to select Display Yield To Maturity Set the Coupon Rate Settlement Date Maturity Date Day Count Type Conversion Factor and Coupon Frequency After you choose an option the Example Price Conversion section shows you what the converted price would be using your choice 4 Optionally you can choose to use the End of Month Convention or add the First Coupon Date and Dated Date 5 When you have the parameters set the way you want them click OK You have successfully displayed yield to maturity Trading Technologies 97 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Hiding Data from View You can hide specific pieces of data from view by using the Visible property Charts and technical indicators have a Properties option in their context menus which allows you to customize their look Included 15 th
68. ence MACD was developed by Gerald Appel and 15 based on the differences between two moving averages of different lengths a Fast and a Slow moving average A second line called the Signal line 1s plotted as a moving average of the MACD A third line called the MACD Histogram is optionally plotted as a histogram of the difference between the MACD and the Signal Line Formula MACD FastMA SlowMA Where FastMA 15 the shorter moving average and SlowMA 15 the longer moving average e SignalLine MovAvg MACD e MACD Histogram MACD SignalLine Significant Parameters The parameters that appear in parenthesis next to the abbreviation on a chart MACD Length of Fast MA Slow MA Signal Line Example 07 1 Min Globex Forex rere ETE 07 00 07 15 134 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Momentum MOM The Momentum MOM indicator compares the current price with the previous price from a selected number of periods ago This indicator is similar to the Rate of Change indicator but the MOM does not normalize the price so different instruments can have different indicator values based on their point values Formula Mom Price Price of n periods ago Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart MO
69. ent pieces within the selected lookback window length Formula RSI 100 100 1 RS Where RS ratio of smoothed average of n period gains divided by the absolute value of the smoothed average of n period losses Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart RSI Time Periods Example A5 07 1 Min CME Globex Forex 06 45 07 00 07 15 Em Trading Technologies 143 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Stochastic Stoch The Stochastic Stoch normalizes price as a percentage between 0 and 100 Normally two lines are plotted the K line and a moving average of the K which 15 called D A Slow Stochastic can be created by initially smoothing the K line with a moving average before it 1s displayed The length of this smoothing 15 set 1n the Slow K Period Without the initial smoothing 1 e setting the Slow K Period to a value of 1 the becomes Raw 96K value and is also known as a Fast Stochastic Formula Fast K 100 SMA Close Low High Low Time Period Slow 99K SMA Fast K Kma Slow 99D SMA Slow K Dma Where Close the current closing price Low the lowest low past n periods High the highest high in past n periods e Period of Moving Average used to smooth
70. es from traditional Bar and Candlestick charts to a full featured Price Distribution chart In addition six drawing tools and thirty of the most popular technical studies are at your service Chart based execution 18 The tight integration of charting and executable prices establishes X STUDY as the platform of choice for the next level of charting functionality chart based executions X STUDY M can optionally display the patented MD Trader market depth grid adjacent to the price axis on the chart with the grid price levels aligned to the chart bars Single click order entry 1s part of the chart X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Introducing X STUDY Anatomy of a Chart Here is an example of a chart as displayed by X STUDY M Your chart studies will vary depending on the product type of chart and drawing tools you use Sop05 1 kin CE Interest Open session 7 12272 12272 L 12106 1 12125 141 1 15 W T da qmm FCE Axis Aa aa lad Chart stuttir data Tas 4 lIuilcCalges Chart 5 a mias 12 00 12 15 12 30 12 45 13 00 13 15 13 30 In addition to trade using X STUDY M access the Execution Grid and Execution Control Panel using the Chart Area context menu 106305 106300 106295 106290 106285 406280
71. eters For the Kelner Channel calculation The TT box at the bottom of the screen displays information on highlighted properties gt To change a property 1 Click the property you want to change An or ellipsis button appears at the end of the line 2 Click the 21 or 4 button at the end of the line 3 Select the desired value of the property The selected value is automatically saved 4 Repeat Steps 1 3 as needed 5 Click Close You have successfully changed the property Trading Technologies 73 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Time Axis Context Menu To access the time axis context menu right click the horizontal time axis Reset w Exchange Sessions Primary Sessions Custom Sessions Edit Custom Sessions Time Axis Properties The following options are available e Reset Returns the time axis to its original view e Exchange Sessions Bases the time axis on default times established by the exchange and covers all hours the instrument 15 open for trading Example ES begins trading on the half hour from 15 30 15 15 So a 60 minute ES chart displays times as 15 30 16 30 etc e Primary Sessions Bases the time axis on the product s most active and liquid times Primary is pre determined and gives you a quick way to screen out the thinly traded overnight markets Example The primary trading time for E
72. f the chart 93 Chart 62 anatomy 19 changing views 93 context menu 58 customizing 106 limitations 3l types 37 Chart Area context menu 58 Chart builder 29 Trading Technologies 155 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Charts centering cloning creating managing Cloning charts Close chart Commodity Channel Index Context menus chart chart area daily value box execution control panel execution grid list of all price axis price distribution technical indicator time axis titlebar trendline Control panel Conventions bold italics keyboard Creating charts charts based on spreads level lines sessions technical indicators trendlines Cumulative Ask Volume Cumulative Bid Volume Cumulative Bid Ask Volume Cumulative Volume Delta Customizing X STUDY Daily Value box Data formatting studying Deleting orders Directional Movement Indicators Display tick volume Display volume Displaying yield prices DMI Drawing EMA Example auto split candlestick chart chart anatomy close chart fill indicators hlc chart manual split multiple Bollinger bands 156 34 35 20 20 35 40 123 62 58 64 67 68 37 70 78 72 74 66 76 25 22 22 22 22 29 31 90 74 109 59 89 148 147 146 151 87 64 62 109 115 49 124 79 79 94 124 59 130 86 41 19 40 88 39 84 112 X STUDY 1 4 Feature Guide Trading Techno
73. for issues relating to TT Gateways including TTSim Trainer Wan Routers Remote Host Servers and TTM or Tibco 24 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Control Panel Chapter 1 Using the Control Panel The Control Panel appears after you start X STUDY It is your main hub for creating charts and setting default properties within the application The Control Panel consists of shortcut icons and text menus TET DER File Settings Window Help The shortcut icons are Open a Opens a previously saved a Workspace Save a Saves the windows contents spatial points and Workspace window sizes on your screen Opens the Chart Manager window for Creating Charts Open New Opens a new chart based on the last chart you Chart opened Not available the first time you start the application The text menus are e File Settings e Window e Help Trading Technologies 25 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide File The File menu consists of the following options Open a Workspace Opens a STUDY previously saved workspace mim Settings Window Help Open Workspace Crid o Save Workspace Saves changes made to the workspace you are currently in Save Workspace Ckri 5 Save Workspace As Page Setup Print All Charts
74. formation X STUDY Version 1 4 Feature Guide vi X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information What s New What s New in X STUDY 1 4 Trading Technologies continues its effort to provide traders with the quickest most efficient and versatile trading software with the release of X_STUDY 1 4 Note X STUDY 1 4 requires Microsoft Net 2 0 be installed on the client machine New features in X STUDY 1 4 include Support for Stop Orders Place Stop Limit and Stop Market orders using the Execution Control Panel Yield Price Displays Display the price axis as yield or yield to maturity Bid Ask Ask Bid Spreads Show spread charts in Bid Ask or Ask Bid formats Kaufman Adaptive Moving Use this new technical indicator to see the moving average using an Average AMA Efficiency ratio ER and Smoothing Constant C Ichimoku ICH Use this new technical indicator to identify mid points of historical highs and lows at different lengths of time Excel Level Lines Paste values from Excel as dynamic horizontal lines Grid Centering Options Use the SPACEBAR to center charts and grids New Exchange Supports For the SFE DME Montreal and SGX Gateways Enhancements to existing functionality include Execution Grid See high and low markers and use the mouse to scroll the price column Execution Control Panel Use a Default Quantity box and seed the position displ
75. from the execution stream providing executable quality prices to analyze and generate trade decisions X STUDYTM provides these features e Enhances the X TRADER platform e Unique architecture e Unique data sets e Unique volume analysis Unique spread charts e Powerful analytical tools e Chart based execution Enhances the X TRADER platform Building on the established reputation of the X TRADER order entry product line X STUDY fully integrates charting and analytics into the TT architecture Unique architecture FMDS or Financial Market Data Server 1s used to collect and store historical price data FMDS serves the historical data to the X STUDY charting application Then X STUDY continues plotting real time data obtained through the XTAPITM The end result 1s the best of both worlds Accurate historical data for prices and traded volume e Prices on the X STUDY M chart that match your X TRADER order entry screen To ease the impact of historical data requests on your network X STUDYTM chunks requests into small messages and only asks for the number of bars to fill the screen You may receive a hundred one minute bars in the chart but thousands more may be stored in FMDS The connection between X STUDY and FMDS 15 non persistent only connecting as requests for new instruments or new rollup times are made Trading Technologies 17 Trading Technologies International Inc Proprietary and Co
76. g Charts You can quickly center your charts by using the following commands SPACEBAR Centers the LTP on the price axis If the Execution Grid is displayed the Best Bid Best Ask 15 also centered in the Execution Grid for all charts in the group 5 Centers the LTP on the Execution Grid This command only works when the price slider 15 displayed It also resizes the price axis to align one to one with the Execution Grid cells This removes the price slider from View Alternatively you can click the e Align with Grid option in the Price Axis context menu e Align with Chart option in the Execution Grid context menu Global Centering Groups You can relate charts to one another by placing them in the same Global Centering Group Charts that are in the same Global Centering Group automatically center at the same time when you choose to center one of them You make this Global Centering Group relationship using the Properties option on the Price Axis context menu Once a Global Centering Group 15 established you can center all of the charts in that group by pressing the SPACEBAR on the keyboard when one of the charts has focus P To create a Global Centering Group 1 Click a chart you want to put in a Global Centering Group Right click the Price Axis to access the context menu Click Price Axis Properties Under the GlobalRecentering section click the No Grouping field to obtain focus
77. g Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts 5 To edit a custom session 1 Right click Time axis and click Edit Custom Sessions The Custom Session Editor appears 2 In the left hand margin click the session name you want to edit 3 Ensure only the days of the week whose start and end times you want to change are 1 8 selected with a checkmark in Adjust as Group column By default all days of the week are selected To change the start time for the selected days slide the Session Start tab to the desired time Notice the times on the bottom of the screen change to show you the exact placement time Alternatively you can utilize the spinner buttons or type directly into these fields on the bottom of the screen To change the stop time for the selected days slide the Session End tab to the desired time Repeat Steps 3 5 until you have set all of the days of the week you want to set for this custom session Your custom session 1s automatically saved To view this session on the open chart click Apply When you are finished creating custom sessions click Close You have successfully created a custom session b To delete a custom session 1 Right click Time axis and click Edit Custom Sessions The Custom Session Editor appears 2 In the left hand margin click the session name you want to delete Click Delete B warning
78. he Execution Control Panel to perform the following procedures Viewing or collapsing a section Incrementing the Quantity text box Decrementing the Quantity text box Changing the value of a preset Quantity button e Setting the default quantity Trading Technologies 53 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide gt To view or collapse a section Click the dark blue partition above each section You have successfully viewed or collapsed a section p To increment the quantity text box Type the desired value in the quantity text box or Click the preset button you want to increment the quantity by or Click the up spinner next to the quantity text box You have successfully incremented the quantity text box To decrement the quantity text box Type the desired value in the quantity text box or Right click the preset button you want to decrement the quantity by Or Click the down spinner next to the quantity text box You have successfully decremented the quantity text box To change value of a preset quantity button 1 Hold the Ctrl key and right click quantity button you want to change 2 Type the new value for the button 3 Press Enter You have successfully changed the value of a preset quantity button To set the default quantity 1 Click the Default Quantity box on the Execution Control Panel
79. he open or close Line with no candlestick indicates the same open and close with a different high or low Dash with no line indicates no movement A tail extending from the body indicates a High or Low different from the open or close Trading Technologies 41 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Tick Charts Tick charts plot a point for each transaction There is no roll up period so the time axis indicates the time of each trade Tick charts come in two versions dot or line Tick charts do not have roll up times and do not display historical data 25 JB Jun05 Tick eCBOT Interest Rates Open Session 0 116240 117080 1 116190 1 116260 40 0 115 3499624 13 42 13 42 13 42 13 42 m Reading the Chart 42 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Identifying Chart Types Price Distribution Price Distribution charts show the distribution of price over time They include the Initial Balance Range opening price a mid point marker a current price marker the Time Price Area TPA letters value area and the Tick Volume Distribution 4s Mar06 1 Min GLOBEX Foreign Exchange Session esas i C i This section of this manual discusses the following e Reading the Chart e Time Price Areas TPA letters e
80. he second point of your line to end pe M oa SS If you are doing a Fibonacci Extension click on the chart where you want the third point of your extension to end You have successfully added a Trendline or Fibonacci lines p To add horizontal or vertical lines using the context menu 1 Right click an open area in the chart and highlight Add Drawing Tool 2 Click the drawing tool you want to use Horizontal Marker Vertical Marker 3 Move the cursor onto the chart The line follows your cursor 4 To place one line click inside the chart or To place several lines click in the perpendicular axis Repeat as needed Click inside the chart to discontinue placing lines You have successfully added horizontal or vertical lines using the context menu gt To add horizontal or vertical lines using the axes 1 Click the price axis to create a horizontal line or Click the time axis to create a vertical line The line appears across the chart 2 Move the cursor onto the chart The line follows your cursor 3 To place the line click where you want the line to go Repeat as needed 4 Right click the price axis to discontinue placing lines You have successfully added horizontal or vertical lines using the axes Trading Technologies 91 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Changing Time Intervals When you create a chart you set the
81. ick a contract you want to chart and hold down the mouse button Note If you use Market Explorer you can only drag a single contract You cannot drag contracts at the product level Drag the contract onto an open X STUDY M chart and release the mouse button The chart appears and immediately begins collecting trading data for the contract based on the parameters you set If you configured FMDS to chart the selected contract data history for that contract also appears You have successfully created a new chart using an open chart Trading Technologies 35 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 36 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Identifying Chart Types Chapter 3 Identifying Chart Types X STUDY has the ability to display various kinds of charts of the charts update dynamically with every transaction e OHLC Bar chart Shows the Open High Low and Close for specified roll up period e HLC Bar chart Shows the High Low and Close for specified roll up period Close charts Shows the Close for specified roll up period e Candlestick charts Shows the Open High Low Close for specified roll up period The candlesticks are comprised of color coded bodies to show upward or downward movement and tails to show highs and lows e Tick Charts Plots a poi
82. id Charts display a trader giving up edge on each leg of the trade Refer to Creating Charts on page 29 for more details Kaufman Adaptive Moving Average AMA The Adaptive Moving Average AMA is intended to prevent a trader from getting stopped out of positions in a choppy range bound market This 1s achieved by using an Efficiency ratio ER and Smoothing Constant C Using this system the moving averages respond quicker in a fast moving environment and slower in a slow moving environment 07 1 Min Globex Forex 0 1328320 H 1325010 L 13164 0 L 13160 0 62 0 106 45 07 00 07 15 07 30 Refer to Moving Averages technical definitions on page 128 for details 10 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information What s New Ichimoku ICH The Ichimoku study was developed by Goichi Hosoda pre World War II as a forecasting model for financial markets The study is a trend following indicator that identifies mid points of historical highs and lows at different lengths of time and generates trading signals similar to that of moving averages MACD A key difference between Ichimoku and moving averages 1s Ichimoku charts lines are shifted forward in time creating wider support resistance areas mitigating the risk of false breakouts 1 Min CME Globex Forex 106 45 07 00 07 15 07 30 Refer to Ich
83. ietary and Confidential Information Executing a Trade Using the Execution Control Panel The Execution Control Panel is made up of the following sections Net Position Display Shows your net position A blue background indicates the net position 1s long A red background indicates the net position 15 short When the net position 1s zero 0 displays the text Flat Double click this field to seed that number into the Quantity box This allows you to quickly place an offsetting order of your existing position Quantity box Shows the quantity you are going to trade You can type directly in this field or click the spinner arrows This field can be automatically populated by the Default Quantity box below Quantity Buttons Increments or decrements the Quantity box by the set amount when clicked These preset quantities can be changed See procedure on page 52 Default Quantity box Sets a default quantity to trade in the Quantity box above You can type directly in this field or click the spinner arrows Order Type buttons Sets the type of order sent to the market Currently the following order types are available Limit Stop Limit Stop Order Refer to Managing Order Types on page 55 for more details Account Selection Combo Box Displays the customer account for which you are making a trade v Tip Changes to size placement quantity buttons and viewed sections can be saved with your workspace Use t
84. imoku technical definition on page 126 for details Trading Technologies 11 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Excel Level Lines In addition to adding lines using X STUDY drawing tools you can paste values from Microsoft Excel as Level Lines Level Lines are links that appear as horizontal lines at the same price level and with the same color as the cell in Microsoft Excel Changes made in Excel to the cell value or color update automatically in X STUDY A YM 07 1 Min eCBOT mini DJIA 12700 H 12714 L 12694 L 12709 C 12 W 2225 0715 07 30 07 45 08 00 08 15 Note You must have Microsoft Excel 2003 or better to paste level line links Refer to Adding Lines and Text on page 89 for more details 12 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information What s New Grid Centering Options Quickly center your charts by using the following commands SPACEBAR Centers the LTP on the price axis If the Execution Grid is displayed the Best Bid Best Ask 15 also centered in the Execution Grid for all charts in the group 5 Centers the LTP on the Execution Grid This command only works when the price slider 1s displayed It also resizes the price axis to align one to one with the Execution Grid cells This removes the price slider from view Alter
85. ion X STUDY Version 1 4 Feature Guide Chart Context Menu To access the chart context menu right click the bar line candlestick or dot representing your contract data Chart Type Change Interval ZB DecUS Properties The following options are available e Chart Type Allows you to change the type of chart you are viewing without affecting the data HLC High Low Close OHLC Open High Low Close Close Can be displayed with lines or dots Candlestick Open High Low Close Color coded to show positive or negative Refer to Identifying the Types of Charts on page 37 for more details e Bring to Front Displays the data on top of other chart objects e Send to Back Displays the data behind other chart objects e Change Interval Changes the time interval between roll up periods which was originally set when the chart was created 1 minute 3 minutes 5 minutes 10 minutes 15 minutes 30 minutes 60 minutes Daily e Remove Deletes the data from the chart 62 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus e Contract Properties Displays the Properties menu for the selected con tract 06 Properties z 24 Appearance Property 0 Down Color WE Red Candle Up Color WE Green Khaki Curent Value Test Color Black Derived Value Haw True
86. is Visible property which when set to False removes them from view To use this feature perform the following procedures e Hiding data from view Restoring hidden data gt To hide data from view 1 Right click the chart or technical indicator that you want to hide 2 Inthe context menu click the Properties option 3 In the Properties menu click to select the Visible property Properties HE Study Parameters 8 Parameter Update Frequency Bar Completes Appearance Property Chr El Red Current Value Text Color Black Decimal Places 0 True Line Solid 1 Visible False True False k Determines if the series is visible 4 Click the 7I next to the Visible property and select False The data is hidden on the chart 5 Change the Visible property back to True to show the data Click to keep data hidden You have successfully hidden the data from view 98 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts gt To restore hidden data 1 Right click the chart area to access the context menu 2 Click Format Studies Cursors Add Drawing Tool Add Position Study Add Technical Study Change Interval w Daily value Box w Price Axis Execution Grid Execution Control Panel Format Chart ZEN Rename Window 3 Onthe left side of the
87. ive Bid Volume BVol study displays the amount of transactions occurring only on the Bid in a given time interval Formula Bid Volume Tick Number of transactions at the Bid Bid Volume Actual Number of contracts traded at the Bid Example 07 1 Min CME Globex Forex O 13237 0 153250 0 L 13164 0 L 131660 200135 Trading Technologies 147 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Cumulative Ask AVol The Cumulative Ask Volume AVol study displays the amount of transactions occurring only on the Ask in a given time interval Formula Ask Volume Tick Number of transactions at the Ask Ask Volume Actual Number of contracts traded at the Ask Example Po 106 45 07 00 07 15 07 30 148 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Volume Delta Vol A The Volume Delta Vol study displays the total amount of transactions occurring on both the Bid and the Ask in a given time interval similar to but also superimposes the absolute value of the net difference between the BVol and AVol for that interval Whichever 15 greater BVol or AVol 15 displayed in that color on top of the total volume Formula Bid Ask Volume Tick Number of transactions at the Bid and the Ask Bid Ask Volume Actual N
88. ive levels of volatility Formula Calculate the Bollinger Band indicator BBW UpperBand LowerBand Middle Band Significant Parameters The parameters that appear in parenthesis next to the abbreviation on a chart BBW Time Periods Lower Std Dev Upper Std Dev Example 07 1 Min Globex Forex BEW 20 2 2 108 45 07 00 07 15 07 30 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Commodity Channel Index The Commodity Channel Index compares the current mean price with the average mean price over a typical window of 20 periods Formula CCI M A 0 015 D Where e M H L C 3 Highest price for the period e L Lowest price for the period e Closing price for the period A n period moving average of M e D mean deviation of the absolute value of the difference between the mean price and the moving average of mean prices A Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart CCI Time Periods Example 07 1 Min CME Globex Forex O 1328320 H 132500 L 13164 0 L 13150 00 62 0 Y 196115 COI FA aac ur Pe uer cw ee 07 00 07 15 07 30 Trading Technologies 123 Trading Technologies International Inc Proprietary and Confidential
89. le Press ALT O means to press and release the ALT key press and release the F key and then press and release the O key 22 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information About This Document Related Documentation This guide is part of comprehensive Trading Technologies documentation and online Help systems that include e Guardian M Help e X RISK Plus Help and User s Guide e X TRADER Help e X STUDY Help Global Client Support Center Trading Technologies Global Client Support Center CSC has offices in both England London and the US Chicago Illinois Support personnel can be dispatched to client sites from all of our offices worldwide The CSC offers assistance over the phone and via remote dial in equipment Calls received by the USA center are automatically forwarded to London between the hours of and 6AM CST Sunday through Friday Telephone Numbers 877 424 8844 This number can be used 24 hours 1 312 476 1002 USA 44 20 7397 1500 Europe Fax Numbers e 312 312 476 1001 USA 44 20 7600 5050 Europe Global E mail Support support tradingtechnologies com Trading Technologies 23 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Automated Phone Menu To provide the fastest service 1t 1s important to select the correct op
90. left corner of the screen when de selected Selected by default 60 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Price Axis Removes the vertical price axis from the chart area when de selected Selected by default Execution Grid Adds 4 column grid to the right of the chart area to facilitate trades when selected De selected by default ED 106300 B 106290 106285 M 406280 106275 NJ ES Referto Reading the Execution Grid 4309 106255 4570 106250 3833 106245 4537 106240 1106235 106230 106225 406220 Tradeout Del ALL e Execution Control Panel Adds collapsible panel to the lower right corner of the chart area to facilitate trading when selected De selected by default Refer to Using the Execution Control Panel on page 52 e Paste Link Insets copied values from Excel as Level Lines Refer to Adding Lines and Text on page 89 e Technical Study Properties Allows you to set the study properties for the chart you click in Refer to Managing Technical Study Properties on page 107 e Chart Window Properties Allows you to set the window properties for the chart you click in Refer to Managing Chart Window Properties on page 106 Trading Technologies 61 Trading Technologies International Inc Proprietary and Confidential Informat
91. logies International Inc Proprietary and Confidential Information multiple indicators multiple Keltner Channels multiple Price Channels ohlc chart position study price distribution chart prior to split split all splits tick chart Excel level lines linking to Exchange session Executing a trade trading procedures Execution Control Panel context menu Execution Grid context menu shading Exponential Moving Average Fibonacci extension retracement File menu Fill indicators Global centering groups Global Client Support Center Help menu Hiding data HLC chart Horizontal markers ICH Ichimoku Icons Identifying chart types Introducing X Study Italic conventions KC Keltner Channel multiple example Keyboard conventions Letters on chart Level lines Lines Linking from Excel to Excel MACD Managing chart window properties charts order types technical study properties Menus control panel file26 help properties Trading Technologies Trading Technologies International Inc Proprietary and Confidential Information Index 111 113 114 38 88 43 83 85 83 42 90 100 101 47 48 53 67 51 68 22 130 59 89 59 89 59 89 26 88 34 23 2 98 39 59 126 126 25 37 17 22 127 127 113 22 45 90 89 90 100 134 106 29 55 107 25 21 104 157 X STUDY Version 1 4 Feature Guide settings window MOM Momentum Moving Average Convergence Divergence OBV OHLC
92. lue of the property The selected value is automatically saved 4 Click OK You have successfully changed a technical indicator s properties 110 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Adding Multiple Technical Indicators You can add more than one technical indicator to any chart You can also add the same technical indicator to the same chart multiple times To add a technical indicator to a chart multiple times 1 Right click the chart area and add the technical indicator Right click the indicator and click Properties Adjust the Color property Click OK Right click the chart area and add the second occurrence of the same technical indicator Right click the indicator and click Properties Adjust the attributes on the second occurrence as desired Click OK Ro You have successfully added a technical indicator to chart multiple times Multiple Indicators Example The following charts have multiple technical indicators added to them 7B 6A Sep06 60 Min GLOBEX Foreign Slee 6A Sep06 60 Min CME GLOBEX Foreign Sele N A 7321 L 7274 L 7286 42 6590 NAH 73210 7269 7276 TELE NIU RETE LS 8 00 00 03 00 Indicators Parabolic SAR SAR Accumulation Distribution Indicators Average True Range ATR Average Directional AD and C
93. mber populated in this chart automatically populates the Quantity box after a trade 15 made Double click the Position Display field at the top of the ECP to seed that number into the Quantity box This allows users to quickly place an offsetting order of their existing position Refer to Using the Execution Control Panel on page 53 for more details Usability Enhancements The following enhancements were made to improve usability The net result in ticks of the completed trades displays in the Fill Indicator data tip Refer to Reading the Execution Grid on page 51 for more details The options in the context menus have been improved for clarity Refer to Using the Execution Control Panel on page 53 for more details e Significant parameters are included next to the technical study abbreviation For example the Time Periods and Upper Lower Standard Deviation Factors might appear in a Bollinger Band Width study as BBW 20 2 2 Refer to Technical Indicator Definitions on page 115 for more details Trading Technologies 15 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 16 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Introducing X STUDY Introducing X STUDY The trader centric charting platform for professional traders X STUDY captures and displays trade data directly
94. n 1 4 Feature Guide b To create a new chart 1 From the Control Panel click E or From the Window menu click Chart Manager The Chart Manager window appears F gm Ie Chart Manager Chart Builder Spread Builder Drag amp Drop Products From TRADER Product Mame Candle DHLE Bar CO HLE Bar Close C Price Distribution 2 In X TRADER from either the Market Grid or the Market Explorer click a contract you want to chart and hold down the mouse button Note If you use Market Explorer you can only drag a single contract You cannot drag contracts at the product level 3 Drag the contract into the Product Name field in the X STUDY Chart Builder tab and release the mouse button The Chart Builder tab is populated with the contract 4 Inthe Roll Up field click the time interval you want to chart for this contract In the Chart Type field choose the type of chart you want to create 5 Click the Load button The chart appears and immediately begins collecting trading data for the contract based on the parameters you set If you configured FMDS to chart the selected contract data history for that contract also appears You have successfully created a new chart 30 X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Managing Charts To create a chart based on a spread Note Spread Builder s
95. n to that period s high low range The volume for the period 15 then allocated accordingly to a running continuous total Formula AD cumulative Close Low High Close High Low Volume Example 07 1 Min CME Globex Forex 13237 0 132500 L 153164 0 Li 1 51 5 0 Vs 195675 6 45 07 00 07 15 07 30 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Average True Range ATR The Average True Range ATR study measures the size of the period s range and takes into account any gap from the close of the previous period Formula ATR Average True Range n Where e True Range Max of High Low High PreviousClose PreviousClose Low e Average Simple Exponential Weighted and Triangular n Time period Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart ATR Time Periods Example 07 1 Min CME Globex Forex O 132370 H 1325001 13164 0 L 131780 64 0 vi 194544 ATR 14 A E 07 00 07 15 Trading Technologies 117 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Average Directional Movement ADX 118 The Average Directional Movement Index ADX 15 designed to quantify trend s
96. national Inc Proprietary and Confidential Information Managing Charts 12 To view the chart for the spread and legs click Launch Spread Or To view chart for the outrights click Launch Outrights The chart appears and immediately begins collecting trading data for the spread based on the parameters you set If you configured FMDS to chart the selected legs of the spread data history for that spread also appears You have successfully created a chart based on a spread p To drag contracts onto an open chart 1 InX TRADER from either the Market Grid or the Market Explorer click a contract you want to chart and hold down the mouse button Note If you use Market Explorer you can only drag a single contract You cannot drag contracts at the product level 2 Drag the contract onto an open X STUDY chart and release the mouse button The chart appears and immediately begins collecting trading data for the contract based on the parameters you set If you configured FMDS to chart the selected contract data history for that contract also appears You have successfully created a new chart using an open chart To recreate the last chart you created On the Control Panel click the Open New Chart icon You have successfully recreated the last chart you created Trading Technologies 33 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Centerin
97. natively you can click the e Align with Grid option in the Price Axis context menu e Align with Chart option in the Execution Grid context menu In addition you can create Global Centering Groups to relate charts to one another Charts in the same Global Centering Group will automatically center when you choose to center one of them Refer to Centering Charts on page 34 for more details Trading Technologies 13 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide New Exchange Support X STUDY now supports the following exchanges SFE DME MX SGX 14 Sydney Futures Exchange SFE Dubai Mercantile Exchange Limited DME Montr al Exchange MX Singapore Exchange Limited SGX The Sydney Futures Exchange Limited SFE 15 the one of the second largest financial futures and options exchange in the Asia Pacific region SFE provides futures and options on interest rates equities currencies and commodities with a number of its flagship products ranked in the world s top ten most actively traded products in their market sector The Dubai Mercantile Exchange Limited DME 1s the first energy futures exchange in the Middle East A 50 50 joint venture between the New York Mercantile Exchange Inc NYMEX and a subsidiary of Dubai Holding 15 Tlatweer Dubai Limited the DME is uniquely positioned to provide price transparency and market liquidity for
98. nfidential Information X STUDY Version 1 4 Feature Guide 84 Example after manual Split YM Dec05 1 Min Slee In this example O 10564 10599 L 10448 Li 10449 1181 Manually clicking shows the break more clearly As does clicking L i 2 LI di a n kaj E AL I E BN S D X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Example after Split r YM Dec05 1 Min Set In this example O 10564 H 10599 Li 10440 L 10449 C 118 P1 12 V 111063 Mu 588 Here is what clicking 10 Split does to the data The display is separated at H each new TPA HH HH EE Epp ag ut Anis e ee D M zt uh 1 im Po is Bos o Bo Trading Technologies 85 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 86 Example of Auto Split a a DIO a a Sep05 1 Min O N A H N A LENJA LiN A VIN A 123 00 122 99 122 98 122 97 122 965 122 95 122 94 122 93 122 92 122 91 122 90 122 89 122 88 122 87 122 85 122 85 122 84 122 83 122 82 122 81 122 80 122 79 122 78 122 77 122 76 122 5 122 4 122 73 122 72 122 71 122 70 122 59 122 68 122 57 122 66 122 55 122 54 122
99. nfidential Information X STUDY Version 1 4 Feature Guide Unique data sets FMDS captures more than the traditional elements of price quantity and time FMDS stores information about each trade that 1s indispensable to traders The current bid and offer at the time of the trade and whether the trade 1s a Buy or a Sell allow X STUDYTM to develop price and volume analytics that are impossible to create without this key information Unique volume analysis X STUDY offers volume analysis tools unavailable anywhere else Six different types of volume displays are available including displays for just the Buys or Sells In addition to a traditional total traded volume histogram you can overlay the Volume Delta net buying vs selling Everything 1s color coded for fast visual interpretation Also the Cumulative Volume Delta TT CVD displays a running total of net buying vs selling quantifying distribution and accumulation for short or longer term swings Unique spread charts Along with traditional Last to Last traded price comparisons X STUDY offers spread charts based on real world market conditions Display spreads as Bid to Bid Ask to Ask comparisons to simulate realistic spread trading X STUDY spread charts are full featured charts and offer all the same analysis functionality as outright instruments Powerful analytical tools A full suite of charting and Technical Analysis tools are provided including six chart styl
100. ng trade The next period and each period thereafter A is increased by 02 for each period that price rises to the highest high level H since the current long trade was opened For periods when price does not set a new high within the current long trade duration A is left unchanged from its previous period s level the highest price since the current long trade was opened on a buy stop order X_STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators For new short positions SAR P A L P Where short side buy Stop and Reverse Price SAR at which the position is reversed from short to long e P the previous period s SAR e the acceleration factor A begins at 02 for the next period immediately after the initial SAR sell stop order opens the current short side trade The next period and each period thereafter A 15 increased by 02 for each period that price rises to the lowest low level L since the current short trade was opened For periods when price does not set a new high within the current long trade duration A 15 left unchanged from its previous period s level L the lowest price since the current short trade was opened on a sell stop order Example 07 1 Min CME Globex Forex 108 45 07 00 07 15 07 30 Trading Technologies 139 Trading Technologies International Inc Proprieta
101. nt for each transaction There is no roll up period so the time axis indicates the time of each trade Tick charts can be displayed as a Dot chart or a Line chart Tick charts do not have roll up times and do not display historical data e Price Distribution Shows the distribution of price over time Includes the Initial Balance Range opening price a mid point marker a current price marker the Time Price Area TPA letters value area and the Tick Volume Distribution Trading Technologies 37 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide OHLC Bar Charts OHLC bar charts show the Open High Low and Close for specified roll up period Al M 78 6E Mar06 1 Min GLOBEX Foreign Exchange Session 12054 12072 L 11970 1 11986 64 1 100565 H FREER 11956 LILES dod Tbe ree TES Toa C iaa 13 00 Reading Chart 38 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Identifying Chart Types HLC Bar Charts HLC bar charts show the High Low and Close for specified roll up period 78 6E 06 1 Min CME GLOBEX Foreign Exchange Session E3 X teu seb H 12072 Li 11970 L 11955 C 62 MEME SS C iea EE ER Reading Chart Trading Technologies 39 Trading Technologies International Inc
102. om a chart e Changing a technical indicator s properties Note Properties for each technical indicator vary greatly e Adding multiple technical indicators p To add a technical indicator to a chart 1 Right click a chart area to access the context menu and highlight Add Technical Study 2 Click the technical indicator you want to use The technical indicator appears on or below the chart You have successfully added a technical indicator to a chart d To remove a technical indicator from a chart 1 Right click a line of data created when you added the technical indicator to access the context menu 2 Click Remove You have successfully removed a technical indicator from a chart Trading Technologies 109 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide To change a technical indicator s properties 1 Right click a line of data created when you added the technical indicator to access the context menu 2 Click ContractName Properties The Properties window appears ZB 5ep s AD Properties 2818 Study Parameters Parameter Value Update Frequency Bar Completes Appearance Curent Value Text Color Black True Display Line Style Line Width 1 Expand to change parameters for the Accumulation Distribution calculation Note Properties for each technical indicator vary greatly 3 Select the desired va
103. ommodity Channel Index CGI Movement ADX Simple Moving Average SMA Trading Technologies 111 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Multiple Bollinger Bands BB Example By default the standard deviation used to calculate Bollinger Bands is 2 If you add a second BB and change its standard deviation to 3 you will see two sets of BBs on the same chart To add a second set of Bollinger Bands 1 To differentiate the original BB from the new one right click the lower BB and click Properties Change the Color to Red Repeat Steps and 2 on the upper BB Right click the chart area and add a second Bollinger Band technical study to the chart The second set of BBs appear directly on top of the first Right click the Bollinger Band and click Properties Change the Lower Std Dev field from 2 to 3 Change the Upper Std Dev field from 2 to 3 Note Changing the standard deviation is just an example Other properties can be changed 8 Click OK You have successfully added a second set of Bollinger Bands 6A Sep06 60 Min GLOBEX Foreign Sele 6A Sep06 60 Min CME GLOBEX C NA 73211 7274 7266 Cas 015801 AERA ESL JL 2 MUR LP SE mre CREDO One set of BBs with Lower and Upper Std Dev 2 Color Red Second set of BBs with Lower and Upper Std Dev 3 112 X S
104. on Executing a Trade j To delete an order Click the order marker in the order column Order marker disappears You have successfully deleted an order To delete all Buy orders In the Execution Grid click the blue Delete button The buy order marker s disappears You have successfully deleted all Buy orders p To delete all Sell orders In the Execution Grid click the red Delete button The sell order marker s disappears You have successfully deleted all Sell orders p To delete all orders In the Execution Grid click the Del All button All orders markers disappear You have successfully deleted all orders Trading Technologies 49 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Trading Out of a Position TradeOut Del ALL The TradeOut button in the Execution Grid allows you to flatten your position When you click TradeOut an offsetting order 1s sent to the market But just before delete requests are sent for all working orders for that contract A second trade out request may be required if an existing working order was filled You can trade out of a position using a LIMIT order or a MARKET order If you choose to trade out using a MARKET order X STUDY determines your position long or short and then calculates the ticks to skew off the inside market price at which your position 15 flattened If long the bid price 1s evaluate
105. oving Average EMA represents an average of prices but places more weight on recent prices The weighting applied to the most recent price depends on the selected period of the moving average The shorter the period for the EMA the more weight will be applied to the most recent price Formula EMAp K EMAp Where P Price for the current period e EMAp Exponential moving Average for the previous period e K the smoothing constant equal to 2 n 1 n the number of periods in a simple moving average roughly approximated by the EMA Example 07 1 Min CME Globex Forex O 1328320 H 13250 0 L 13164 0 L 131 600 62 0 106 45 07 00 07 15 07 30 130 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Simple SMA The Simple Moving Average SMA is calculated by adding the price of an instrument over a number of time periods and then dividing the sum by the number of time periods The SMA is basically the average price of the given time period with equal weighting given to the price of each period Formula SMA Sum Price Where n Time Period Example 1 Min Globex Forex 1328320 H 132500 L 13164 0 L 131 9 0 63 0 es 07 00 07 15 Trading Technologies 131 Trading Technologies International Inc Proprietary
106. page 51 4570 106250 3833 106245 4537 106240 l 106235 106230 106225 106220 Tradeout Del ALL Trading Technologies 81 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Execution Control Panel Adds the collapsible panel to the lower right corner of the chart area to facilitate trading when selected De selected by default 5 100 Refer to Using the Execution Control Panel on page 52 Cea 82 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Examples of Splits Splits separate each TPA into one column so you can better view the distributions and breaks The following examples demonstrate how the Split commands in the Price Distribution context menu work e Example prior to Split e Example after manual Split e Example after Split All e Example of Auto Split Example prior to Split r 9H YM 0 05 1 Min BE In this example O 10564 10599 Li 10448 1 10449 118P 1 12 111063 IPAs and appear to have breaks But it would be easier to tell if the data were separated HO Seis ee ee ei a OS mim rrr x 25 uu Ia uta ua a un LN ES NET T mi eA eE HUH Hh u d Trading Technologies 83 Trading Technologies International Inc Proprietary and Co
107. permission of TT Trading Technologies X TRADER X RISK MD Trader and Autospreader are registered trademarks and the Trading Technologies logo X STUDY TT Autotrader Super Guardian TT Trainer and TTNET are trademarks of Trading Technologies International Inc MS Windows MS Excel and Visual are registered trademarks of Microsoft Corporation Copyright 1998 2007 Trading Technologies International All rights reserved Trading Technologies International Inc Proprietary and Confidential Information Table of Contents TABLE OF CONTENTS WHATS NEW UN X SEUDY etie ko ea ye eee uoo be eene eo ovo e oeu ie 7 SUPPORT FOR STOP ORDERS AEn P E 8 eres up Un E RU m M OPE 9 ASE BID SPRBATDSusi es tote asset sc Ld RU MAE LLLI LU Et E 10 KAUFMAN ADAPTIVE MOVING AVERAGE 10 ICHIMOKU C H 11 Siono a PO 12 ene an E N AE EEE 13 NEWEXCHANGE SUPPOR Torana ea 14 SPE e E E OT E N E EN O TEE 14 Ibi H HO RH 14 hub dT A AA E A AA P 14 DU Noa AE E E A EEE AA M AME MI ENEE A E A A E MUNI E UU MM eI LE UR 14 EXECU NON GRID ENHANCEMENT inire oet obo ted nexo Ted tet etes dioe teda dett once 15 EXECUTION CONTROL PANEL ENHANC
108. r version of X STUDY 27 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 28 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Managing Charts Chapter 2 Managing Charts X STUY offers a variety of charts all of which update dynamically with every transaction For a complete listing of available chart types and the basics on how to read them refer to Identifying Chart Types on page 37 This chapter 15 broken into the following sections e Creating Charts e Centering Charts e Cloning Charts Creating Charts The Chart Manager window is used to create new charts based on contracts or spreads It consists of two tabs e Chart Builder Used to create charts based on individual contracts e Spread Builder Used to create charts based on spreads Alternatively you can drag contracts onto open charts or use the Open Chart button to recreate your last chart Warning While X STUDY 15 robust enough to dynamically update multiple open charts TT recommends and supports up to 10 open charts at one time Follow these procedures e Creating a New Chart e Creating a New Chart Based on a Spread e Dragging contracts onto an open chart e Using the Open New Chart button Trading Technologies 29 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Versio
109. roperties menu 104 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Customizing X STUDY Charts To access the Defaults tab on the Properties menu 1 From the Control Panel click the Settings menu and choose Properties The Properties menu appears 2 Click the Global tab F Properties z Ea Defaults Global BackCoor 200 90 90 90 Bump True Vertical True Lucida Console 8 25pt FontColor White E Highlighted Style BackCo Wil Black Flat Display Border False FontColor EL Yellow Determines the style of the highlighted item You have successfully accessed the Global tab on the Properties menu p To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line Click the 4 button at the end of the line Select the desired value of the property The selected value 15 automatically saved Repeat Steps 1 3 as needed Click Close You have successfully changed the property Alternatively to change the look of a single chart click the Format Chart Window and Format Studies options from the respective context menus Trading Technologies 105 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Managing Chart Window Properties The Format Chart window allows you to customize the
110. ry and Confidential Information X STUDY Version 1 4 Feature Guide Price Channel PC The Price Channel displays two lines with the upper line representing the highest price and the lower line representing the lowest price for a given look back interval The bands can optionally be smoothed with a moving average or shifted to the right with an offset value Basic uses of the Price Channel are to identify breakouts form the channel and to determine placement of trailing stops Formula Upper Band Highest price in the last n periods Lower Band Lowest price in the last n periods Example Mar 7 1 Min CME Globex Forex 106 45 07 00 07 15 07 30 140 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Price Volume Trend PVT The Price Volume Trend PVT study attempts to quantify the amount of volume flowing into or out of an instrument by identifying the close of the period in relation to the previous period s close The volume for the period 15 then allocated accordingly to a running continuous total Formula Close Yesterday s Close gm IUE volume t Yesterday s PVT Yesterday s Close r Volume Tick cumulative transactions over specified interval Volume Actual cumulative number of contracts traded over specified interval Example 07 1 Min CME Globex Forex O 1328320 H 13250 0 L 13
111. t orders e Setting Stop orders to Sticky Placing a Stop order Trading Technologies 55 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide To set offset ticks for Stop Limit orders 1 Right click the Execution Control Panel to access the context menu 2 Click ECP Properties 3 In the Stop Limit Offset Ticks field type the number of ticks you want to use 4 Click OK You have successfully set offset ticks for Stop Limit orders gt To set Stop orders to Sticky 1 Right click the Execution Control Panel to access the context menu 2 Click ECP Properties 3 Click the arrow next to the Stop order type you want to make sticky and click Sticky 4 Click OK You have successfully set Stop orders to Sticky To place a Stop order 1 On the Execution Control Panel click the SL or SM order type button you want to use before placing an order 2 Click the Execution Grid to place the order You have successfully placed a Stop order 56 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Chapter 4 Using Context Menus There are several different areas of the X STUDY screen that have context menus Chart area context menu Right click an open area on the graph or data Chart context menu Right click the bar line candlestick or dot representing the contract
112. t the end of the line Select the desired value of the property The selected value 15 automatically saved 4 Repeat Steps 1 3 as needed 5 Click Close You have successfully changed the property Trading Technologies 69 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Price Axis Context Menu To access the price axis context menu right click the vertical price axis w nito Center Last Price Align With Grid Manual Reset Hide Price Axis w Normal Change Yield Price Axis Properties The following options are available Auto Adjusts the scales to new highs and new lows beyond the highest high and lowest low in the visible time series when checked e Center Last Price Centers the chart on the last traded price which 1s highlighted e Align with Grid Centers on the LTP and resizes the chart price axis to align one to one with the grid cells Also removes the price slider from view This option is grayed out when the slider 15 not displayed Set Price Scale b asinum 0649 um e Manual Displays the Set Price Scale dialog box p To set the price scale 1 Right click the vertical price axis and click Manual Minimum 1 0643 a 2 Inthe Maximum field click the up and down arrows to set the highest price viewable on the vertical axis 3 In the Minimum field click the up and down arrows to set the lowest price
113. tion for the particular 1ssue to be addressed by the CSC This menu option determines the specific CSC staff member to which the call 1s routed Callers selecting the incorrect option are informed of the proper option and transferred back to the menu to route their call appropriately Below you find the new phone system options their description and examples of issues to be addressed with the option The option to be requested can be connected immediately after hearing the mandatory Calls may be recorded message Upon calling the main line you now hear the prompts listed below Greeting TT Support calls may be recorded for quality assurance purposes e Option 1 For front end software assistance push 1 e Option 2 For server software assistance push 2 During periods of high call volume callers may receive an information notification message or a lines open message e Information Notification Any time there 15 a problem which affects multiple customers the CSC places a message on this line explaining the current situation It plays prior to the above options e No lines open Thank you for calling all agents are busy please stay on the line for the first available agent Repeats every 15 seconds Examples Select Option front end software assistance for issues relating to X TRADER including Autotrader and Autospreader X Risk M and Guardian Select Option 2 server software assistance
114. trength by measuring the amount of price movement in a single direction The 15 part of the Directional Movement system published by J Welles Wilder and 1s the average resulting from the Directional Movement indicators Formula Directional Movement DM is defined as the largest part of the current period s price range that lies outside the previous period s price range For each period calculate DM positive or plus DM High Previous High DM negative or minus DM Previous Low Low The smaller of the two values is reset to zero 1 gt DM then DM 0 On an inside bar a lower high and higher low both DM and DM are negative values so both get reset to zero as there was no directional movement for that period The True Range TR is calculated for each period where TR Max of High Low High PreviousClose PreviousClose Low The DM DM and TR are each accumulated and smoothed using a custom smoothing method proposed by Wilder For an n period smoothing 1 n of each period s value 15 added to total each period similar to an exponential smoothing DMt DMt 1 DMt 1 n DMt DMt DMt 1 DMt 1 n DMt TRt TRt 1 TRt 1 n X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Compute positive negative Directional Indexes D
115. ts in an exchange traded Strip Pack or Bundle The Strip Base 1s added to the instrument price before the conversion Trading Technologies 95 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Display Yield to Maturity Display Yield to Displays price based on the rate of return if held until the maturity date An Maturity algorithm calculates the price accurate to six decimal places other fields are required unless otherwise noted e Coupon Rate Annual interest rate as a decimal Must be greater than 0 1 and less than 100 00 and accurate to 4 digits precision e Settlement Date The date that the trade settles Must be less than the maturity date and greater than today e Maturity Date The redemption date of the bond Must be greater than the settlement date and greater than today e Day Count The convention used for counting the days between two dates Where the values mean Actual The real number of days between Actual Actual two dates Leap year counts for 366 days Actual 360 360 The year has 360 days Actual 365 365 The year has 365 days 30 360 30 Ifthe second date falls on the 31st of 30E 360 the month it is changed to the 30th only if 30 365 the first date falls on the 30th or 31st 30E If the second date falls on the 31st of the month it is always changed to the 30 e Conversion Factor
116. ty Trading Technologies 71 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Technical Indicator Context Menu Right click the technical indicator data on the graph to access the technical indicator context menu Bring To Front Send To Back Link Current Value Remove ZN Marl 7 LBand Properties The following options are available e Bring to Front Creates a movable replica of the line you clicked e Send to Back Displays the price at which the current bar would intersect the trendline when checked e Link Current Value Copies the current value of the trendline for pasting in Excel Refer to Linking to Excel on page 100 for more details e Remove Removes the technical indicator from the chart 72 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Contract Indicator Properties Displays the Properties menu for the selected contract and technical indicator Note Properties for each technical indicator vary greatly Sep b KC LBand Properties Kelner Channel Properties 2 5 High Low Close 3 Simple SMA Update Frequency Bar Completes Property Adjusted Digits 0 Cor Current Value Text Color BE Black Denved value Haw Display Current Value True Dash Line Width 1 True Expand ta change param
117. umber of contracts traded at the Bid and the Ask Additional display line BVol AVol color represents whichever is greater BVol or AVol Example 1 Min CME Globex Forex 1923210 132500 131640 Li 153157 0 BARS Ex EIE 07 00 07 15 07 30 A Trading Technologies 149 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 150 Volume Delta Histogram Vol Hist The Volume Delta Vol A Hist study displays the total amount of transactions occurring on both the Bid and the Ask in a given time interval similar to CBAVol with the Accumulated Ask Volume buying pressure as positive values and the Accumulated Bid Volume selling pressure as negative values for each time interval bar By default the Accumulated Ask Volume is shown in blue and the Accumulated Bid Volume 15 shown in red Formula Bid Ask Volume Tick Number of transactions at the Bid and the Ask Bid Ask Volume Actual Number of contracts traded at the Bid and the Ask Additional display line BVol AVol color represents whichever is greater BVol or AVol Example 07 1 Min CME Globex Forex X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Technical Indicators Cumulative Vol Delta TT CVD The Cumulative Volume Delta TT CVD study displ
118. upports up to 10 legs Charts can be created for the spread or separately for each outright 1 From the Control Panel click or From the Window menu click Chart Manager The Chart Manager window appears 2 Click the Spread Builder tab The Spread Builder tab appears Chart Manager DER Chart Builder Spread Builder Chart Type Roll Up spread Name Spread Type Launch Outrights BidAsk Clear All Legs Drag amp Drop Products From TRADER Cloze 3 In X TRADER click a contract you want to chart as one leg of the spread and hold down the mouse button 4 Drag the contract into the blank area at the bottom of the Spread Builder tab in the X STUDY Chart Manager window and release the mouse button The Spread Name field 15 populated with the spread 5 To adda leg in X TRADER click and hold a contract you want to chart as another leg of the spread and drag and drop it into the Spread Builder tab Trading Technologies 31 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide 32 The leg appears and changes the Spread Name field Ir Chart Manager Ee Chart Builder Spread Builder Chart Roll Up Spread Hame Spread Launch Outrights 1 6EH6 1 6E ME Bid sk DEN Drag amp Drop Products From TRADER Leg Ratio 0000 Enabled 10000 Leg Ratio BE June 0000 Enabled 1
119. viewable on the vertical axis 4 Click OK to apply the new settings You have successfully set the price scale e Reset Returns the price axis to its original view e Hide Price Axis Removes price axis from view e Normal Shows available prices for the instrument or spread e Net Change Changes the price axis to positive and negative values subtracting today s values with the previous days settlement 70 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus Yield Displays the Yield Properties menu allowing you to configure the Price Axis to show Price as Yield or Yield to Maturity options Refer to Displaying Yield Prices on page 94 for more details e Price Axis Properties Allows you to change the appearance of the price axis Price Axis Properties ZM 1 Min eCBOT Inter X No Grouping BackCoo 189 195 211 Verdana 65 81 137 The TT box at the bottom of the screen displays information on highlighted properties gt To change a property 1 Click the property you want to change An or ellipsis button appears at the end of line Click the 2 1 button at the end of the line Select the desired value of the property The selected value is automatically saved 4 Repeat Steps 1 3 as needed Click Close You have successfully changed the proper
120. west Low the lowest low in the past n periods Significant Parameter The parameter that appears in parenthesis next to the abbreviation on a chart WillR Time Periods Example 07 1 Min CME Globex Forex O 113237 0 H 13250 00 L 13164 0 L 131 66 1 56 0 2002114 Iun E 14 1 Metan 106 45 07 00 07 15 Trading Technologies 153 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Copyright Licensing This is a copy of the TA Lib BSD License TA LIB Copyright c 1999 2005 Mario Fortier All rights reserved Redistribution and use in source and binary forms with or without modification are permitted provided that the following conditions are met e Redistributions of source code must retain the above copyright notice this list of conditions and the following disclaimer e Redistributions in binary form must reproduce the above copyright notice this list of conditions and the following disclaimer in the documentation and or other materials provided with the distribution e Neither name of author nor the names of its contributors may be used to endorse or promote products derived from this software without specific prior written permission THIS SOFTWARE IS PROVIDED BY THE COPYRIGHT HOLDERS AND CONTRIBUTORS AS IS AND ANY EXPRESS OR IMPLIED WARRANTIES INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABI
121. xis context menu Right click the Price Axis and click Yield to display the Yield Properties dialog box Yield Properties Display Price Y ield field Type 100 Price v Convert 365 ear C2 Display Yield To Maturity Coupon Rate Settlement Date Maturity Date 12312007 v Count Conversion Factor fT Coupon Frequency First Coupon Date 13172007 v Dated Date Example Price Conversion Price 105255 Set your yield parameters as you would like to see them realized on the chart This functionality is very similar to what can be done in MD Trader offering both Price as Yield and Yield to Maturity options Refer to Displaying Yield Prices on page 94 for more details Trading Technologies 9 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Bid Ask Ask Bid Spreads Spread charts can now be shown in Bid Ask Ask Bid formats On the Chart Manager Spread tab your choices for displaying spread charts are now as follows e Last Last Charts display the difference between the current Last Traded Prices LTPs whenever one of the legs updates the LTP Bid Bid Ask Ask Charts display the difference between the Bids of the legs whenever one of the legs trades on the Bid Conversely it charts the difference between the Asks of the legs whenever one of the legs trades on the Ask Bid Ask Ask B
122. y used the TPA data window 46 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Executing a Trade Executing a Trade If you have X TRADER running on your X STUDY machine you can execute a trade in X STUDY using the Execution Grid and the Execution Control Panel Products and exchange traded spreads can be traded in X STUDY However user defined spreads cannot be traded at this time This chapter of the manual 1s broken into the following sections e Trading Procedures e Reading the Execution Grid e Using the Execution Control Panel e Managing Order Types After you place an order e An order marker appears on the Execution Grid indicating the working orders and fills in the following format Working orders Fills e A line extends from the Execution Grid to the chart it when you hover the mouse over the price column in the Execution Grid e price slider appears on the price axis You can click and drag the slider to change the focus of the Execution Grid Note Orders placed in X STUDY can also be modified and canceled in X TRADER Trading Technologies 47 Trading Technologies International Inc Proprietary and Confidential Information X STUDY Version 1 4 Feature Guide Trading Procedures Use the following procedures to execute trades in X STUDYTM e Entering an Order Changing the price of an order e Deleting Orders e Tr
123. yalBlue 7 Auto split settings Initial lookback sels the minimum number of periads before a new split and breakout lookback sets the number of periads to check far a breakout before adding a new split The TT box at the bottom of the screen displays information on highlighted properties p To change a property 1 Click the property you want to change An arrow or ellipsis button appears at the end of the line 2 Click the 7l or 1l button at the end of the line 3 Select the desired value of the property The selected value 15 automatically saved 4 Repeat Steps 1 3 as needed 5 Click Close You have successfully changed the property 80 X STUDY 1 4 Feature Guide Trading Technologies International Inc Proprietary and Confidential Information Using Context Menus e Paste Link Inserts copied values from Excel as Level Lines Only available when a value has been copied e Daily Value Box Removes the product values from the top left corner of the screen when de selected Selected by default Vertical view of Daily Value Box e Price Axis Removes the vertical price axis from the chart area when de selected Selected by default e Execution Grid Adds the 4 column grid to the right of the chart area to facilitate trades when selected De selected by default 106305 106300 106295 106290 E L ON 106270 ETT 406260 ae Refer to Reading the Execution Grid ET 106255 EN on

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