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eSignal Release Notes of 22 A product of eSignal, an Interactive Data company

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eSignal 11.5 February 2013

Copyright © 2013 eSignal ReleaseNotes_eSignal_11.5.pdf

eSignal 11.5 introduces a host of new features and enhancements for active traders and investors. Read on to get more details of this release. See Appendix for 11.5 SP1 and 11.5 SP2 changes.

Features / Enhancements Volume Delta Our newest feature in eSignal is the Volume Delta add-on package, which includes three components – Volume Delta Price Statistics, Volume Delta Bar Statistics and the Volume Delta Chart Type. Volume Delta allows traders to look inside a typical candlestick to see whether buyers or sellers had control at any specific price level. When more buying takes place at or above the Ask price, the “tracks” are colored green. Likewise, when more selling is taking place at a specific price level (more trades are being filled at or below the Bid), the tracks are in red. The more dominant one side is, the brighter that color becomes, resulting in a clear picture as to where the pressure points are. The Volume Delta add-on package is priced at $50 per month. Volume Delta Price Statistics (along the left side of the chart provided below) denote the total volume at the Bid and Ask for each price point for all the chart data that is loaded. This lets you see where the majority of buying and selling is taking place over a sample size of your choosing. In addition, a volume profile is drawn, giving a picture of how much total volume is at each price level. The maroon-colored bar is the Point-of-Control, or the price at which the peak volume has traded. The horizontal yellow bars are within the Value Area, which is 70% of the chart’s volume starting from the Point-of-Control; the blue bars are outside the Value Area. At the bottom of the chart, you can see the Volume Delta Bar Statistics. This study shows the volume for each bar and is, once again, colored based on whether the buyers or sellers were in control of that bar. As an example, the 12:30 bar is bright green and is showing a significant number of buyers taking out the Ask prices. This led to a continuing trend for the remainder of the session.


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The Volume Delta Chart Type includes four different views, as follows:

Bid / Ask (as shown above) – The amount of volume filled at the Bid versus the amount at the Ask

Delta (not shown in the chart) – The difference between the amount of volume filled at the Bid versus the amount at the Ask

Delta Percent (as shown below in green / red) – The percentage of volume filled at the Bid versus the amount at the Ask

Volume at Price (as shown below in blue) – The total volume at each price point; the darker the color, the more volume has been traded

These views provide additional layers of analysis in order to help find historical control points and support / resistance levels.


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Market Profile One of our more popular window types from eSignal 10.6 has been brought into version 11 and enhanced with some great features. Market Profile, invented by J. Peter Steidlmayer, depicts the distribution of prices throughout a trading day to find the relative shape of the market. Each 30-minute period of time is represented by a specific letter, or Time Price Opportunity (TPO). The more often the price appears at a specific level throughout a trading day, the wider the distribution is at that price. This can create a bell curve or other shape, depending on the activity of the market. Key indicators on the Market Profile window are Point-of-Control (POC), the widest part of a distribution marked by light purple horizontal dashes, and the Value Area, the region where 70% of the PTOs are located (marked by pink vertical dashes). These levels are typically used for Support and Resistance levels. One of the major enhancements in this window is the Naked Point-of-Control, which is an unfilled POC line marked in yellow horizontal dashes and is helpful in determining future support or resistance as well. Also new to 11.5 is Volume Point-of-Control (VPOC), which marks the level where the majority of the volume took place (pink arrow and horizontal dashes). Volume at Price Another way to look at the distribution of trades across a trading period is by taking volume and comparing it against price. This new Volume at Price study allows for just that and automatically adjusts based on the data that is loaded into the chart view. As you scroll through a chart, backward or forward, or compress or expand the bars, the Volume at Price study will automatically adjust. This lets you see where the bulk of the trading has taken place historically.


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Pivot Points This group of indicators has been in eSignal for some time as EFS studies, but in 11.5, it is now easier than ever to add them to your chart. Because they are built-in studies, alerts are also now available, so you can easily tell when price approaches these critical support and resistance levels.

Float Turnover Channel This new study is applied to daily (or higher timeframe) charts and shows how long it takes to trade the float. This type of cycle analysis attempts to find tops and bottoms within a specific time period. In eSignal 11.5, you can scroll back through the chart, and the channel will automatically adjust to the right-most bar. There are also historical channel lines to make this analysis easier.


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Triangles Ellipses and rectangles are already present in 11.4, but another one of the basic shapes that was often requested is the triangle. While on the surface this shape seems simple enough, it can be a powerful method of marking support and resistance regions or establishing patterns of trend retracements or extensions. Seen below on the left, the blue triangle shows an area typically referred to as an ascending triangle or pennant. This type of triangle typically follows a longer trend up or down and also tends to act as a platform for breakouts that continue the earlier trend. The green triangle is marking a rare pattern called a Bullish Gartley. When used in conjunction with Fibonacci retracements and extensions, the Gartley and Butterfly patterns can be extremely powerful, and the new eSignal 11.5 Triangle tool can help draw this out for you on your charts.

Polyline Continuing on the theme of shapes, we now offer a more flexible tool for drawing multi-sided shapes and swings, as well as for connecting tops and bottoms of trends to create a living channel of sorts. The result is the polyline tool, which is formed by a series of unlimited clicks. A line segment is drawn between each click, and the line is completed with a final double-click action. In the image provided below, you’ll see an example of this living channel, a visual method for identifying areas of narrow volatility (the up trend) and increasing volatility (the beginning and top of the trend). Knowing what type of market you are in is vital to understanding how loose or tight your orders need to be, and the polyline tool can assist in drawing these behaviors out.


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Speed Resistance Lines Speed Resistance Lines (SRLs) are additional support and resistance tools that help define expected areas of retracement. Traditionally, the SRL tool uses 1/3 and 2/3 lines as the basis of the support and resistance. The chart of GE shown below is a great example of this because it catches the resistance points of an attempt to recover the up trend in April of this year.

More recently, traders have begun to apply Fibonacci (0.382, 0.618) and Gann (0.25, 0.50) ratios with this tool so that even more support and resistance points can be revealed. Take, as another example, this same GE chart but with the default Fib and Gann levels turned on…

There is a breakout at point “A”, support of a trend continuation all along the 38.2% line up until another breakout at “B”, and a try for another breakout at the 50% line, which became resistance up until the trading session presented in the chart.The 61.8% line could be the next area of support here.


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New Pitchforks (Modified Schiff, Inside) Besides adding new tools, we’ve also extended existing tools. The image provided below is our new Modified Schiff Pitchfork, which is similar to the standard pitchfork but has the basis of its median (middle blue) line adjusted to 50% up from the first two clicks. In this example, the $INDU is caught in the channel for 5 months between the median and the first pitchfork “prong” (orange line). After it finally breaks at the beginning of April, it heads down to a 1.618 extension line (green) until it breaks at the beginning of May, and the 3.00 extension has now become support. What’s interesting is that all of these support and resistance lines are built from the trading activity of Q4, 2011.

The Inside Pitchfork is typically used for trading activity occurring within a previous trend range; the angle of the bottom prong is based on 50% of the first two clicks. For example, the AUD/USD currency pair reached a recent peak in March and was identified by the top prong of this Inside Pitchfork, and if you add some additional inside lines such as 61.8% and 75%, this picks up the internal swings inside that fork.


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Pitchfan This drawing tool is a unique hybrid of the Pitchfork, Gann Fan and Speed Resistance Line and is a veritable Swiss Army knife of the drawing world. You can use it create any existing pitchfork style, as well as to build your own style. You do this by adjusting the Slope value of the parallel lines. In addition, fan lines are included in the mix for an additional layer of support and resistance. The trick with this tool is to find what slope settings work best over time for the symbols you trade, and when these lines are respected in the past, they are more likely to be adhered to in the future.

Channel Tool Drawing parallel lines was always possible in eSignal. We’ve just made it a lot easier now with the new Channel tool. You start by drawing a basic trend line off the highs or lows of a trend; then, a parallel line attaches to your mouse cursor, so you can place the top or bottom of the channel. In the example given below, the AUD/USD forms a channel between its trading range of March to April and then breaks to the up side. After a failed retracement at 38.2%, the trend continues and settles right back into that same channel.


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Rotated Rectangle Similar to the Channel tool, the new rotated rectangle also provides a channel but can also define an “end-cap” to the trend. This shape is a great way to encapsulate a trend, at an angle of your choosing.

AutoWave Study The AutoWave study is made up of three parts: ZigZag lines, Fibonacci pattern finder and Fibonacci projections.


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AutoWave – ZigZag Lines The ZigZag lines are the foundations of the AutoWave study; they define the high and low extremes that occur as a symbol moves up and down. This is typically used to help remove noise in active symbols to assist pattern traders, such as those who use Elliott Wave or Fibonacci. In AutoWave, the minimum distance between each ZigZag peak and valley can be adjusted to make the waves more or less sensitive. Typically, this is done to form-fit the ZigZag lines against a symbol’s natural swing patterns. The price distance between each zig and zag is included in a small box on each line to easily see the actual underlying movement of each wave. This is important for system traders who have defined rules for validating trends or patterns. Some traders may use the AutoWave just for the ZigZag lines because they are a powerful tool in a trader’s toolbox.


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AutoWave – Fibonacci Pattern Finder With each swing defined via the ZigZag lines, the AutoWave can now perform analysis on those waves. One method for looking at trend retracements and continuations is by using Fibonacci ratios. These mathematical values are found all throughout nature and are also often used in financial markets to highlight possible support and resistance levels. It is commonly accepted that the more often a ratio occurs historically within a symbol, the more likely it is to reoccur. The AutoWave will automatically search the historical patterns in a symbol and show you which have come close to a Fibonacci ratio by highlighting them in green. As seen in the example given below, EQT has recently made three distinct “bottoms” via the 127.20 Fibonacci ratio, signifying that traders have historically reacted in these areas. As we’ll see in the next section, the current trend is coming up on another possible reversal level.


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AutoWave – Fibonacci Projections The AutoWave study will automatically display Fibonacci price levels that will satisfy a Fibonacci ratio. As seen in the previous EQT example, it is closing in on a 127.20 ratio. When the Fibonacci projections are turned on, red lines are drawn from the February highs, and the 127.20 line is drawn just above the 59.00 level. This doesn’t mean that price will automatically rise to that level but that resistance is likely at that level if price does approach it.

This really just touches the surface of what the AutoWave study can do. There are numerous knobs to adjust with respect to the wave size, Fibonacci pattern sensitivity and the number of projections that should be shown on the chart. Please refer to the eSignal KnowledgeBase for additional information.

http://kb.esignal.com/


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Point & Figure Chart Type For over 100 years, traders and investors have been using this unique chart type to take the noise out of markets, and it’s been brought back into eSignal in version 11.5 and made better than ever with a variety of enhancements.

- Box Size has been adjusted to be in either points or ticks to make it easier to change between symbols quickly.

- A Projection option allows chartists to see where the Xs and Os would be if the chosen interval closed now.

- A new grid option (Visual Fixed Grid) has been added to ensure that a fixed scale is in place to keep the relationships between time and price equal. This is especially important when drawing 45-degree trend lines.

- Wyckoff Calculation is now available (shown below). When the reversal is set to 1, boxes with just one X or O are stacked with their previous box. This further compresses the market when there’s a lot of sideways movement.

- Alerts have also been added, so traders know when a new X and / or O starts.


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Renko Chart Type Just as with candlesticks, the Renko chart type was invented in Japan. This chart style takes time out of the equation and bases the chart purely on price movement. A new up “brick” is created when price closes above the previous brick’s high by a specific amount. What’s new in 11.5 is the projection option, which draws the bricks in place as if the interval were closed at the current time. This is shown as cyan-colored bricks in the image given to the right.

Kagi Chart Type Similar to Renko, the Kagi chart type aims to remove time from the traditional price-to-time relationship in a typical bar or candlestick chart. However, it is different in that lines are drawn vertically and are not separated into bricks. A new vertical line is drawn whenever the specified reversal amount is achieved, and the time interval closes. The new piece added in 11.5 is similar to one in the Renko chart type in that a projection is drawn with real-time data to show where the next Kagi line will be drawn. There is also a small horizontal reversal line showing where the price has to go for a reversal to happen.

Price Break Chart Type Just as with a Kagi chart, the Price Break chart type will reverse when a certain reversal point is met. But, with a Price Break chart, this amount fluctuates based on the price action. In essence, the price has to reverse against the last 3 boxes in order for a new direction to be colored in. Just as with the other new chart types, this chart also comes with the optional projection coloring.


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Alert Ticker In the last three new releases of eSignal, alerts have come a long way. The addition of advanced line and study alerts has added tremendous depth to the already robust price and EFS alert systems. Now in eSignal 11.5, the new Alert Ticker window brings all of the fired alerts together in one cohesive window. Traders can fully customize which of their alerts will display using a variety of filters. Try opening multiple Alert Ticker windows and organizing them by symbol, type, chart, page, and so forth. Once an alert has triggered, double-click it to jump directly to that symbol, no matter what page it’s on.


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Chart Markers (Earnings, Dividends, 52-Week Highs / Lows) Have you ever wanted to know what a symbol’s historical earnings and dividends looked like on a longer-term chart? This is now possible in eSignal 11.5’s charts with the new Markers feature (available in the Background and Grid section of “Chart Properties”). The markers use a similar icon to that of the splits indicator and display earnings, dividends and 52-week highs and lows. The actual amounts are displayed on the label, but if you’d like to see the date as well, just hover your mouse cursor over the marker to see those details. Lastly, we’ve added the ability to back-adjust charts based on dividends.


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Seasonal Charts Many commodity futures or even stocks trade cyclically based on historical patterns. The Seasonals study identifies patterns month over month or year over year to help you find these patterns and profit from them.

Forward / Yield Curves Forward curves are typically used in energy, commodity and currency markets to predict future price activity based on the current shape of all the contract prices for a single future or currency pair. Analysts also often compare more than one symbol at a time, and this new window type in eSignal 11.5 allows for multiple symbol overlays. Yield curves are used to take a look at the macroeconomics of treasuries and their general shape. New to 11.5 is the ability to look at these curves historically.


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Weather Maps Agricultural commodities are heavily influenced by weather patterns, and for speculators and hedgers alike, having knowledge of the current weather in these regions can make a difference in their trading.

Additional Enhancements and Fixes Numerous improvements were put into place for eSignal 11.5 with respect to performance – especially in the area of charting. The lists provided below are of other changes in 11.5, including smaller enhancements and new features. Trading

Added the option to use eSignal data to fill in the Trade Manager or other trading-related feature when using brokers that don’t offer their own data feed in eSignal.

IB – Open PL is now calculated in real time.

IB – For protection reasons, Money Management Strategies have been temporarily disabled for Financial Advisor accounts until a “Close Position” issue can be resolved.

The order of columns in the Money Management Planner’s “Stop Strategies” tab has been changed to the following order: Trigger, Stop, Frequency

Charts

It is now possible to add studies or formulas for secondary symbols.

Line Alerts now work on study sub-charts and studies on secondary symbols.

Volume and Open Interest on electronically traded futures are now shifted so that the data is correctly aligned with the bar, and the electronic volume updates in real time for the current day.

Importing horizontal lines via CSV is now possible. See this KB Article for additional information.

Historical North American stock data can now be adjusted for dividends.

Pasting a copied trend line will now place the first anchor of the line where the mouse cursor is.


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The MACD’s histogram can now be colored 4 different ways, depending on where the Fast and Slow lines are.

The Drawing Tool slide tray has been removed in favor of a drop-down panel. If a toolbar is still desired, custom toolbars can be created with the desired buttons.

An additional option has been added to the Data Window and Cursor sections of “Chart Properties” that allows these chart components to show when the mouse is over the chart and not just when the cursor is in the active window.


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Appendix

11.5 SP1 Chart

New Feature: OHLC built-in study

Enhancement: Display Cursor and Data Window when hovering on inactive window

Enhancement: Reset scale to Auto Scale when changing Chart Type

Enhancement: Correlation histogram color

Enhancement: Color selector for Buy/Sell price line

Enhancement: Added restart option on Kagi/Renko/Price Break

Bug: Changing Double-click Bar Spacing Reset Value

Bug: Pre Post Market and multiple symbols

Bug: Fixed Scale does not display entire session

Bug: Alerts on lines in Volume and OI studies

Bug: VAP not working correctly in Bar Replay

Bug: GET Stochastic displaying label of False Bar

Bug: GET Time Clusters missing label in price scale

Bug: Symbol/Interval changes through links do not reset chart to Auto Scale

Bug: Right Price scale incorrect visibility saved in page and style template

Bug: Strategy Analyzer - additional Back Test reports remains in calculating state

Bug: Some spreads behave differently based on time template settings Dashboard

Bug: Dashboard incorrectly signals Type1 Buy Market Depth

Bug: Closed Regional Exchanges now listed at the bottom

11.5 SP2

Account Manager

Enhancement: Added ‘Buying Power’ field for eSignal Paper Broker

Bug: AM - Style templates column header justification Broker Manager

Enhancement: Added ability to manually map symbols for eSignal Paper Broker Chart

Enhancement: Add option to restart Point and Figure chart at each session

Enhancement: Add a font setting for Auto Wave study

Enhancement: Partial fills now reflected in order label on chart

Bug: Adjustment for Dividends is now applied correctly

Bug: Continuous contract for GOLDM -MCX now plots correctly EFS

Bug: in the Watch List remains in '"Calculating Script" state if the script returns null


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Market Profile

Enhancement: Value Area based on TPO or volume

Bug: AutoHide option for Data Bar and Snapshot Bar

Bug: Market Profile scaling issue

Bug: Daily chart incorrect segments Shell

Enhancement: Add global Decimal symbol and Digit grouping symbol Trade Manager

Bug: Symbol field width now adjusts correctly based on window width Watch List

Enhancement: Strings and Numbers now sort correctly

Enhancement: WL/Dash - added settings for Use Settlement price as ... and Adjust for Dividends

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