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Videos

See what mini-mentoring sessions are all about.

Come to our YouTube Channel and see 10-15 minutes excerpts from past mentoring webinars. These videos feature lessons and demonstrations typically given during the mentoring webinars. Judge for yourself if this is what your trading education needs.

MarketGeometry on YouTube

Learn from one of the world's best traders.

Every month, Tim Morge is invited to host a live Interactive Brokers webinar, sponsored by the Chicago Mercantile Exchange. Learn from the master and watch videos from the archive of Tim's past Interactive Brokers sessions.

Watch IB Videos

Articles

Some things never change.

No matter how much the markets fluctuate, the fundamentals of trading never change. The core principles of median line trading remain the same as when Tim learned them from Dr. Alan Andrews himself over 50 years ago. Read articles from MedianLine.com, blog started in 1995.

Worksheets

Creator: Tim Morge - Market Geometry and Blackthorne Capital, Inc.

Know where you stand for the month with this spreadsheet which helps you to keep track of the following:

  • Total Net Profit
  • Number of Trades
  • Average Winning Trade
  • Average Losing Trade
  • Largest Winning Trade
  • Largest Losing Trade
  • Maximum Draw Drawdown
  • Perceived Risk Reward Ratio
  • Actual Risk Reward Ratio
Download Now

Creator: Tim Morge - Market Geometry and Blackthorne Capital, Inc.

Know your limits with this spreadsheet which will help you to keep track of:

  • Total Net Profit
  • Trade Size
  • Trading Limits
Download Now

Creator: Tim Morge - Market Geometry and Blackthorne Capital, Inc.

Plan your trades before you make them with this spreadsheet which helps you outline the following:

  • Buy/Sell price
  • Risk/Reward Ratio
  • Exit Price
Download Now

Tips

eSignal Tips

Using a Modified Schiff Median Line

Special thanks to Todd for submitting this tip.

To create a modified Schiff median line right click on the pitchfork button on the drawing tools toolbar  esignaltips_1 to bring up the Pitchfork Properties window.

Left click on the "Modified" button at the bottom left. The button should now appear in the 'depressed' state. Click OK. This will activate the modified Schiff option for the next time you draw a pitchfork.

esignaltips_2

Your pitchforks will now be drawn in as modified Schiff median lines until you de-select the Modified button in the Pitchfork properties window.


Chart Tips are conceived, tested and written by Mary Toepfer. If you have any questions, or an idea for a tip, drop me a line at mary@marketgeometry.com

MetaTrader Tips

How to Get Any Time Frame on MetaTrader

Changing time frames using MetaTrader is not always straightforward. Thanks to Dallas Young for this detailed description of how to do this.

To do this you need a MT4 indicator file. Which means someone wrote it up and released it as a custom indicator. You load this indicator onto a chart the same as you would load something like an RSI or Stoch or MACD or something.

First: You need to know how to load custom indicators and this type of thing. Metatrader 4, basically, has 2 different types of files that you will encounter - .mq4 's and .ex4 's.
The .mq4 's need to be compiled and that's what the "Meta Editor" application is for. They're pretty much just a .txt file. Once you compile a .mq4 the Meta Editor creates an .ex4 - so the .ex4 is what we want anyway. With an .ex4 only, some people don't like that they now can't see the source code.

Bla bla bla, this is all just background stuff anyway. [Editor's note: 'bla, bla, bla' is a technical term for 'you don't have to know this but just in case you care...']

Download period converter.ex4Period_Converter_Opt_fixed

So, you have the "period converter.ex4" file. We need to put it into our custom indicators folder. Whichever broker you have, that is where you'll need to place the file. Mine for example (back when I used MT4) was C:\Program Files\MetaTrader - Alpari UK\experts\indicators.

In any case, you want the ex4 file to be in your MT4's experts\indicators folder.
When you pull up the navigator in MT4 (CTRL+N) it will show up in the tree at the right place. If it isn't there in the tree, then you may have to restart MT4. If that doesn't work then you probably have the file in the wrong folder. There are 2 different indicator folders for a stock install of MT4 - make sure your period converter file is in the indicators folder that is a sub-folder of "experts".

Okay, now you just have to drag and drop the indicator onto an appropriate chart. How this thing works is that it takes a multiple of the root chart and creates an 'offline' chart of the new time period. For instance. if you applied the period converter to a 5 min chart and you set the multiplier variable for "4" then it would automatically make a 20 min offline chart.

I had my MT4 set up so that it automatically brought up the configuration box for any indicator that I applied to my charts. This is an indicator based method so you have to configure the indicator before you create your new chart. Picture attached [Editor's note: picture not yet available] shows the period multiplier that you have to set. In this case I would be making an 8 hr chart (4hr x 2).

Your new file will be in the offline charts section. Go to "File" -> Open offline.
Your new chart is in this section but you have to look for it and select it. It is all alphabetically listed.

As long as you keep the chart that you applied the indicator to open and on the original timeframe, your new chart will update automatically just like any other chart. You can load the converter more then once and set the multiplier different each time (so that you don't have to open too many charts). For example: you could load the period converter onto a 1 min chart with the multiplier set at '20', then a different one set at '40', '180', and '360'. You will create a 20 min, a 40 min, a 3hr, and a 6 hr - if you were so inclined. Keep the original 1 min open and the others will be fine. If you switch the 1 min to a 5 min the others will stop updating until you bring the original back to 1 min.

One last thing (hopefully), this indicator needs you to have .dll imports enabled - so you'll have to do that. Go to "Tools" -> "Options" -> "Expert Advisors" -> and check the 'allow dll import' box.

That should be good. Play around with it. Make templates and profiles and all that. Have fun!


Chart Tips are conceived, tested and written by Mary Toepfer. If you have any questions, or an idea for a tip, drop me a line at mary@marketgeometry.com

TradeStation Tips
Highlighting Separation Tim talks about price bars with 'good separation' as one of many indicators we can use to make decisions about trade entries. Thanks to Paul C for doing all the work on this tip. Here's how to alter the style for the symbol you are charting. This is done easily by one of several methods: 1. Double click any price bar. 2. Right click any price bar and select Format XXX... where XXX is the symbol you are charting. For example, if you are charting the current Silver contract (SIZ09) it will say Format SIZ09... 3. Right click anywhere in the chart window other than on a price bar and select Format Symbol... Once you have brought up the Format Symbol window select the Style tab. 

tradestationtip_1_tn

Looking at the bars on the chart you will see the default configuration displays the Open, High, Low and Close. To emphasize the Close: 1. In the Bar Type window area select the HLC Bar. This will display only the High, Low and Close. 2. Deselect the checkbox Use same color/weight for all components within each bar type. This will allow you to use a different color and weight for the Close. 3. Select Close in the Bar Components window and change the color and weight to your choice. To change the default configuration for all new charts select the Set as Default checkbox. Here are Paul's settings. You can see the difference on his chart (shown in the background):

tradestationtip_2_tn

Look at how easy it is to see the downside separation on both the initial test and subsequent retest: tradestationtip_3_tn


Stepping Bar by Bar Through a Chart This is super easy in TradeStation, in fact, easier than with Ensign. The only difference is that in Ensign you are able to have the 'current bar' in any part of the screen depending on the right margin setting. With TradeStation the current bar will always be to the right of the screen, immediately before the right axis. You are then able to step through the chart bar by bar using one of two methods: 1. Use the right and left arrow keys on your keyboard to move the chart left or right, one bar at a time. 2. Use the scroll wheel on your mouse to move the chart left and right, one bar at a time. Combine this tip with the previous tip Highlighting Separation to increase visibility of the bar close and you will learn a lot about the contract you are trading and get a better feel for the action.


Place Drawing Elements to the Right of the Current Bar TradeStation has an issue in that it is impossible to place drawing elements (labels, lines, circles, etc) much to the right of the current bar unless the Space to the Right setting is changed. In the picture below you can see that when attempting to place the circle on the Energy Point it is far to the left of where it should be. It will not move any further right than the current bar. Note on the horizontal axis the last value is 20:00, the time of the last bar. This denotes the farthest right on the chart a drawing item can be placed. tradestationtip_4_tn

Solution to this problem is to change the Space to the Right setting on the Format Window dialog box under the General tab. Enter a value representing number of bars. In this example, 50 represents 50 20-minute bars in the 20-minute chart. Select Set as Default to ensure all future charts allow 50 bars of space to the right of the current bar. tradestationtip_5_tn


Chart Tips are conceived, tested and written by Mary Toepfer. If you have any questions, or an idea for a tip, drop me a line at mary@marketgeometry.com

Ensign Windows Tips
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Display a Bar Counter Did you know you can display how much time or how many ticks are left on a price bar before the next bar is formed.  First, make sure the Bar Data Panel is displayed on your chart. Two ways to do this:  1. Ctrl-P will display the Chart Properties box where you can hide or show the Bar Data Panel. 2. Ctrl-B toggles the display for the Bar Data Panel without having to open Chart Properties.

Now, define what data items you want displayed. Right-click anywhere inside the Bar Data Panel to display a drop down list of items you can select to show or hide.  This is the Bar Data Panel on my charts. It displays using shortlabels ('H' instead of 'High') and a watch icon next to Time Left counter. In this example, there are 14:26 minutes left in the current 20 minute price bar. Volume and tick count is also displayed but not useful to me since I use 20 minute price bars.


Super Quick Tips, Part II Thanks to Paul C and Bob O for these great quick tips.  1. Drawing Vertical Lines Select the Line drawing tool and hold down the Shift key and drag your mouse to draw the vertical line. Important to note - If your Default setting for lines has the Horizontal option checked this will not work.  2. Hiding the Ticker in the Toolbar and the Price/Time Axis To hide the price/time axis click Ctrl-Alt-T keys. To show, use the same keystroke combination.  To hide the ticker follow these steps:  a) Open the Setup | Charts window and click the Data Panels tab b) If not already selected, select the Chart Caption option button. c) Deselect Symbol from the Visible Fields list d) You may need to close and restart Ensign for this to work  3. Changing colors When changing colors for drawing tools (lines, forks, etc) try double clicking the color instead for clicking the color and clicking the OK button.

More Bar-by-Bar Tips Now that Tim has been making bar-by-bar chart analyzes a part of some of the Premium Members Mini-Mentoring Sessions let's look at simple ways to control the movement of the chart across the screen.

The Reset button reset_button or the Equal sign key ('=') on the keyboard will return the chart to it's default scale settings. Scale controls the price and date interval settings defined in the Chart Properties.

Shift-Equal or Shift-reset_button will jump to the first bar on the chart  reset_button or Equal key will jump to the last bar on the chart

Use this tip in addition to earlier tips to make doing your own bar-by-bar analysis easy.

Making the Close Element of a Bar Stand Out

We hear Tim talk about price bars with 'good separation' as one of the many indicators we can use to make decisions about trade entries. Here's a tip from Paul C to help make that close element easier to see.
Open the Chart Properties window using Ctrl-P or right-click and select Chart Properties from the menu.
FatBar
Bar Fat Close will emphasize the close element of a price bar. Here's what it looks like:
FatBarEx

Ellipses
Have you ever wanted to illustrate your chart with an ellipse?
Ellipses are properties of Circles circle_button and Parallel lines parallel_button1.  An ellipse created from parallel lines is more flexible in terms of changing it's position on the chart and tilting it on it's side but both are tricky to work with. Let's step through it:
Select the Parallel lines button and draw the two lines. To create an ellipse open the Parallel Lines Properties Window by selecting one of the lines and hitting Ctrl-P (or right mouse click).
parallel_line_ellipse
The ellipse appears as a part one of the parallel lines. You can remove the parallel lines by unchecking the Horz boxes but wait until you after you've adjusted the ellipse to suite your purpose.
anchorpoints

Lesson 1 - Swing High, Swing Low I'm starting a new series within Ensign charting tips. For those of you that have Premium subscriptions you're familiar with Tim's on-line trading lessons. For each of Tim's lessons I will post a tip that I hope will help you while practicing the techniques within that lesson. For those that do not have a Premium subscription, the tip presented will still give you helpful advice.  Marking out the swing high and swing low lines can be simple, at least from an Ensign drawing standpoint. We touched on the features Ensign provides for drawing lines in the Super Lines and Mouse Wheel Magic. Let's apply what we learned from these tips to simplifying the creation of swing high, swing low lines.  Create two new lines and assign them to empty slots. I had blank slots at 8 and 9 so 8 became my swing high line and 9 stored my swing low. Here's what my swing high line property window looks like:  top_draw_line bottom_draw_line Swing low uses a different color (red), has an 'SL' label, Horizontal property is checked (not shown here) and is stored at 9.  Now drawing swing high and swing low lines are quick and easy. I draw the line and click either 8 or 9 (or use the mouse wheel).  Depending on whether you draw the line from left to right or right to left the Custom Label text will appear either on the left or right side of the line. This is a neat trick as it allows you to control where the label appears without adjusting the location on the Draw Line properties window.  label_demo Good luck with Lesson 1 and remember to practice, practice, practice. 
Super Quick Tips, Part I Here's the first part of what I intend to be a listing of super quick tips. Super Quick Tips are tips that can be described with just a sentence or two of explanation so we have four tips outlined here. 1. Get rid of all these drawings! Delete all lines, shapes, notes on your chart by right mouse click anywhere in the background of the chart and select Delete -> All Draw Tools.
2. Find just the right one to change or delete
All drawings on your chart are listed in the Object List object_button.  Most recently drawn objects appear at the end of the list; older objects closer to the top.

object_list 3. Share your workspace with others As an Ensign Windows user you can share your Workspaces with other Ensign Windows users. All your Workspaces are separate files stored in the /ENSIGN/Workspace folder.  workspace_folder_list

COPY (do not CUT) the file you want to share and send it. The file needs to be saved to the same /ENSIGN/Workspace folder of the Ensign Windows user you are sharing with so they will see your Workspace on their list.
4. Quick Copy (Thanks to Tim for this one!)
Any drawing object on your chart can be copied by selecting the object, moving your cursor to where you want the copied version to appear, and hitting the space bar.

Quick and Easy Chart Time Period Changes Have you ever wanted to take a quick look at a different time frame for a contract but not want to go through the clicks to create a new chart?  Here's a way to do this without creating new charts and cluttering up your workspace.  The Times button, appropriately represented with a clock icon timeperiods_button, opens the Times Panel window.  timeperiods_dialog Select a different time period and your chart will change to reflect that new time (or range, volume, tick, etc) period. This Time Panel is customizable by selecting the Edit button and typing whatever time period you need.  One advantage to this method is if you have marked up your chart with median lines, fib retracement markers, sliding parallels, etc before changing the time period you will not lose any of these markings when you decide to go back to the original time frame. 
Elusive Circles Defeated Circles are handy illustrative drawing tools but are a pain to grab and move or resize. Thanks to a tip from Shabir this elusive object has been tamed. Permanently. Click on the Circle draw tool circle_button and draw out a circle on your chart. Open the Circle property window and make these changes:circleprops_small Check the Use as Default checkbox and your "I can't grab this circle" problems are over. 
Mouse wheel magic This is the number 1 submitted Ensign Windows tip. Thanks to all who sent this one in. It is a good one!  This trick applies to any of these drawing tools.drawing_tools_buttons
Each of these drawing tools contain a tabbed section that allows you to save different formatting options for that drawing object.
tabbed_section

For example, let's look at Draw Line and see what we can set:  Default - green and horizontal (1) - blue with a Custom Label "BOT" and Left Side label $ (2) - red with a Custom Label "stop loss" (3) - pink and not horizontal etc...  When you draw a line on your chart you can change the format by using your mouse wheel or the 1,2,3 keys on your keyboard.


Chart Teasers: Exposing a Chart Bar-by-Bar Ever need to expose a chart one bar at a time? Thanks to for Roger Wolf for this great tip.  The key to making this work lies with your keyboard shortcut settings for charts.  Open the Set-Up | Charts windows and select the Keyboard tab.  setupchartkeyboard_small You can control how many bars are exposed at a time and use the Right and Left keyboard keys to shift the chart.  You can also control where on the screen the 'current bar' is exposed by adjusting the Right Margin in pixels setting on the Chart Properties window.  
Peace of Mind When Saving Workspace Changes Has this ever happened to you?  You've busy drawing median lines and mapping out market structure on several of your currency charts when you click over to another chart to check on crude oil in your commodities Workspace. When you click back to currencies you can't find any of your changes because you forgot to save them. Any changes you make to charts within a Workspace have to be saved if you want to preserve the changes before you move to another Workspace or shut down Ensign Windows.  Here's how you can delegate that task to Ensign Windows: Open a listing of your Workspaces by selecting File | Workspaces or clicking the Workspace toolbar button workspaces_button There are three options that control saving Workspace changes: Manual, Prompt or Automatic (see yellow highlighted section).  workspaces_note_dialog The Save option you select will apply to all Workspaces. 
Notes with a little more emphasis Have you ever wanted to draw attention to a very specific place on your chart? There are a couple of tools Ensign Windows provides to do just that.The Direct Note toolbar button buttonpic_notes lets you add text inside an arrow.  watchthis The Marker toolbar button buttonpic_marker lets you add custom or predefined notes above, below, left and/or right of an arrow.  washrinse These are both simple examples of what these tools can do. Play around them to learn more. 
Save Yourself Trips to the Toolbar Have you ever wanted to draw a lazy-Z line pattern onto your chart without having to repeatedly click the Line drawing tool button? Paul McManus has a solution for you.  Drawing a lazy-Z or a V shape requires you to draw multiple lines and connect them into the shape you need. Here's how you draw these lines without having to click the Line toolbar button multiple times.Before drawing your first line, click the Auto Repeat Button autorepeat_button Once activated, the button will change activeautorepeat_button to indicate it is in Auto Repeat mode.  Click the Line toolbar button and you can now draw as many lines as you need without having to click the Line toolbar button again.  To deactivate Auto Repeat click the Auto Repeat Button.  The Auto Repeat function works with any of the drawing tools.  You can do the same for any of the drawing tools including Median Lines. Set Default to be red, (1) to be green and uses Modified Schiff, etc. You get the idea.  It takes a little time investment up front to setup the multiple formats for each of the drawing tools you use but it will pay off with less clicks and trips to the toolbar!

Chart Tips are conceived, tested and written by Mary Toepfer. If you have any questions, or an idea for a tip, drop me a line at mary@marketgeometry.com