Support Board
Date/Time: Sun, 24 Nov 2024 19:40:57 +0000
Post From: 2 questions re spy
| [2024-05-15 19:18:31] |
| Calculus - Posts: 97 |
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John, the Price Converter is charting the SPY at ES values. Traders also use it to convert QQQ to NQ. For example, right now SPY is at 528.17 and ES at 5317.25. 5317.25/528.17 = 10.0673 So if we multiply the SPY of 528.17 * 10.0673 = 5317.25 Some traders prefer to use an SPY chart to trade ES because SPY often looks better with the 0.01 tick size versus the 0.25 of ES/NQ. This is especially the case for the 1m and under, perhaps 20s. There are a lot of traders using < 1m on the stock indexes. Yes, Sierra has a Real-Time Price Multiplier and Historical Price Multiplier under Chart Settings > Symbol and that works great, just enter 10.0673 for both and SPY looks like ES (same with the DOM). But the trouble is the differential can move slightly during the day, hence you've got to keep an eye on it and update when needed (perhaps 2-4 times a day). What the TradingView study does (I think) is do everything automatically so if/when the number changes everything changes automatically on the chart/DOM. They probably calculate the number every minute and then use a 7-10 period moving average for smoothing. It's a great feature. |