Is that possible? I have written many articles about charting Futures contracts and the issues facing traders with continuous charting. Charting a market that has expirations is bad enough, but charting markets without an industry standard is really challenging. It is beyond me why the Futures industry charting platforms have not standardized the way we build charts. The reason I would want this is for obvious reasons for traders who rely on accurate and reliable support (demand) or resistance (supply) levels.
Let’s face it, when we place our orders to buy or sell at our levels we need a lot of other people with big orders to be in that same area as us or the market is going to rush right through our level into our awaiting stop. With so many different types of charts available to Futures traders:
Contract Specific
Adjusted Continuous
Un-Adjusted Continuous
Continuous Nearby Contract
Continuous Contract Specific
Etc…
Is seems impossible to have enough traders who can make a difference in market direction with their trading size looking at the same area we might be. Look at an Equity chart. There is only one type of chart because there is no expiration to deal with. Equity traders have small, large and institutional traders all looking at the same charts. So when a level is created in the market there is a good bet there will be sufficient shares of Stock bought or sold to impact the market. Same goes with the Spot Forex, the charts are seamless with no interruptions. While we have tried to make Futures charting relatively easy to understand and use, the Futures industry has a long way to go in standardizing this issue.
So anytime I can find a way that might help somebody better understand Futures charting I am more than happy to share it with them. Here is one of those ways I feel will help many traders.
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