Allow Studies to receive input from another Instrument

[ScottyA]

E-mini levels are more relevant than micros. For example... ES and NQ VWAPs matter more than MES and MNQ VWAPs. ES and NQ Pivots matter more than MES and MNQ Pivots. Etc.

(Unless this already exists in some form) may I request the ability within a Study to select another Instrument as it's data source?

So in the example above... on a MES or MNQ chart, one would be able to configure VWAP to source it's data from ES or NQ, respectively.

 

[igor.s]

in your example the price levels are the same say for ES and MES but how it is going to work for instruments that are not in the same price range?

 

[ScottyA]

in your example the price levels are the same say for ES and MES but how it is going to work for instruments that are not in the same price range?

Good question with two thoughts...

1) Why would you want them to?

2) You could overcome this price range difference with an Instrument Overlay, but what you would NOT be able to do is import a Study that corresponded to the overlay... which is a cool thought!

 

[MotiveWave_Joe]

Hi Scotty,

I will put this in as a feature request.

 

[ScottyA]

I will put this in as a feature request.

Any update on using another instrument's data to feed a study, like E-Mini Studies on Micro charts? Will this be added at some point?

Attached, you'll see how I attempt a work-around: by monitoring NQ VWAP and then adding a Guide on the MNQ chart to represent NQ VWAP. One problem is that I have to constantly change it.

The numbers are insignificant right now (1.25 points apart), but at times like in strong-move-markets, they can be wildly different.

Scotty

 

[MotiveWave_Joe]

Hi Scotty,

No update at this time but it has been logged for review.

 

[ScottyA]

Why not call call it/create a Study Overlay?

Forgive me in the way I come across as pestering. That's not my intent. It's that I trade MNQ (micro futures) and NQ (e-mini futures) all day, every day, and for the VWAP on my MNQ chart, I want to see the NQ VWAP and must use Guides, requiring constant updating.

A Study Overlay would be a significant workflow improvement!

 

[Donovan2580]

Hi Scotty,

I just ran across this post because I am having the exact same problem. I am trading MES but want to look at the VWAP of the ES.

I see this post is rather old & wondered if you ever figured out a solution?

I was thinking an alternate data source for the VWAP (Which you mentioned) or the possibility of trading on a DOM that is not anchored to a chart?!!?

I am curious to see what you came up with.

Thanks in advance,

Donovan

 

[ScottyA]

@Donovan2580

I use a Guide to mark the NQ VWAP. It works but is tedious to use, as I constantly have to manually update it.

 

[Donovan2580]

Ok good to know.

I will give that a shot until something better comes up.

Thanks much for taking the time to reply!

 

[Zhenya]

Hello, all! I'm new (on a trial for MW). Is there a way to do cross instrument trading? I currently have bookmap and ToD, and became curious about MW as I would like to incorporate footprint charts. I have to trade off ES charts, but am only trading MES for the time being. Bookmap has a cross instrument trading feature that easily allows me to do so. Is it possible to be subscribed to MES in the DOM and look at the data for ES?

 

[ScottyA]

Welcome to MotiveWave @Zhenya

Is there a way to do cross instrument trading?

Yes, there is a way to cross-instrument trade. Right-click on any ES chart and select "Edit Instrument." Go to the Connections tab and click on "Add." See below.



Select the MES contract you want. This will allow you to trade MES from the ES chart. Be sure to test this in a paper trade before committing real money to it.

Is it possible to be subscribed to MES in the DOM and look at the data for ES?

Yes. Just open an ES chart and a MES DOM right beside it. It's that simple! Know that with this chart+DOM setup, the MES trade will not show up on the ES chart. (FYI, my personal preference is to use a "Floating Page" in order to configure the chart and DOM to the sizes I want.)