Overview

InterChart Tools 21 offers three types of early price indicators that provide an extremely effective edge in building your trading systems.

The TimeBars indicators allow you to combine longer term price data on a shorter term chart, but with the added advantage of not having to wait for the completion of the longer term bar to send a trade. This gives you the edge over other traders who are waiting for that longer term bar to complete before sending a trade.  For example, you can create a 1 minute chart, and then add a TimeBar High indicator that returns the high of a 10 minute bar.  Your Trading Strategy can access the most recent value of the high for the 10 minute bar that is updated every minute rather than waiting for the completion of the 10 minute bar.  Once the 10 minute bar is completed, an entirely new TimeBar High bar is created that looks for a new high value based on the next series of 10 minute bars. While creating these indicators, our studies have shown that 90% of the time the high and low occur before the end of 10 minutes.  In addition to the high, there are corresponding TimeBar indicators for the low, open, close, volume, and various combinations of open, high, low, and close.  You can use the Trader's optimizer to determine the bar size which is most appropriate for your desired algorithm and equity.

The Consolidated Bars indicators combine the information from the most recent N (number of) bars compared to the TimeBars indicators which are time based. The Consolidated Bar indicators allow you to create Trading Strategies, for example, based on the value of the high in the five most recent range bars. These bars are continuous and always reflect the high of the previous N bars. Every time a new bar arrives, the oldest bar is dropped and a new consolidated bar is generated. Unlike any moving average which might attempt to do the same, there is never any lag. When used on a 5 minute chart, you can generate 10, 15 20 and 30 minute bars which update every 5 minutes. They may be used on time, range, volume or tick charts.  The Consolidated Bars indicator include two "gap" parameters that let you decide how the indicator is computed when there is a break in trading caused by an overnight, weekend, or holiday cessation of trading.  Consolidated bars allow you to de-noise high frequency range and tick bars. The optimizer can identify the optimal number of bars to consolidate during the morning, mid-day and closing sessions to properly de-noise range data without lag and without having to wait for a higher range bar to complete.

Adaptive Consolidated Bars indicators also combine the information from the most recent bars on a chart, but unlike the regular Consolidated Bars the Adaptive Consolidated Bars treat rising bars and falling bars independently.  The Adaptive Consolidated Bars offer the option of consolidating a different number of bars for rising prices as contrasted to the number of bars for falling prices. Since the function of a consolidated bar is to absorb noise and rising price jitter is often different from falling price jitter, the Adaptive Consolidated Bars permit an asymmetrical definition to accommodate this.

InterChart Tools 21 was designed and programmed by Richey Enterprises.

InterChart Tools 21 works with the NeuroShell® DayTrader and NeuroShell DayTrader® Power User, as well as NeuroShell Trader Professional and NeuroShell Power User.