Calculating Trading/Actual Days

Back to Table of Contents
Back to Index

In the futures industry trading days are scheduled around holiday and weekends, therefore when looking at a futures chart often times it is difficult to determine how many actual days have passed while working a trade.

The number of trading days is also significant for traders using the number of trading days as a rule in conjunction with a formation. For example with the 1-2-3 Top or Bottom formation, many traders use the 10-20-50 rule. This rule defines a 1-2-3 if there are 10 trading days between the #1 and #2 and 10 days between the #2 and #3 points.
 
To calculate the actual, or trading, days on a chart use the Day Offset tool.

Days "Higher" and "Lower"
Another statistic used alongside formations and other theories is the day up and down calculation. This calculation determines how many days, in a defined set of price bars, were "higher" or "lower."

A day is considered a "higher day" if the close is higher than any previous close in the set of price bars selected. Conversely, a day is considered a "lower day" if the close is lower than any previous trading day in the defined set of price bars.

This statistic is available in Track 'n Trade Pro when using the Day Offset tool.

Day Offset Tool

The Day Offset tool enables you to measure the number of trading days vs. actual days that expired between two points on the chart. Also calculated on this tool is the number of days that the market closed up or down in comparison with the previous day.

Charting a Day Offset:
1. Select the Day Offset tool from the Toolbar.
2. This tool is drawn like a line. Click for the left point.
3. Move the mouse to the right position and click to finish.

Resizing the Day Offset:

1. Select by clicking on it. Note: The drawing is selected when boxes appear on the corners.
2. Click on one of the boxes to drag the select point and release the mouse button.

Moving the Day Offset:

1. Select the drawing by clicking on it and continue holding down the mouse button.
2. Drag to the new location and release the mouse button.

Deleting the Day Offset:

1. Select the drawing by clicking on it and press the Del(Delete) key on your keyboard to remove.
2. Or, right-click on the tool and select "Delete" from the menu.


Changing the Properties of a Day Offset:
Right-click on the Day Offset drawing to view the Properties menu. Properties that can be changed are:
Foreground - Changes the line color of the Day Calculator.

Line Thickness
- Changes the thickness of the Day Calculator Line. Choose values from 1-6.

Line Style
- Changes the line style of the Day Offset lines. Choose from Solid, Dashed, Dotted, and more.

Font
- Changes the Font, Size, Style, and Color of the Day Calculator numbers.

Show Text
- Select to view or hide the Day Calculator numbers.

Send to Back
- Changes the layer of the drawing. This option is used when more than one drawing is in the same area of the chart. Click on "Send to Back "when you need to access a drawing under the Day Calculator drawing.

Delete
- Select to delete tool.
Example of the Day Offset Tool in Track 'n Trade Pro:




Back To Top
Technical Support Department
Phone: U.S. / Canada: (800) 862-7193
Outside the U.S./Canada:(435) 752-8026
Hours: M-F 9am to 5pm MST


ASCII Data Downloader | Meet the President! | Free Software Brokers | Educators | Futures News 

Trader's Forum | Affiliate Program | Privacy Policy | Resources


Copyright (c) 2007 Gecko Software, Inc.