The Power Emini Alert Software is a “stand-alone” Windows program.
One major benefit of this design is that the “alert software” allows anyone to easily trade along with the signals using their existing platform and broker. So even though this post is dedicated to using the Power Emini Momentum System on Think or Swim, the process is basically the same no matter what platform you’re using.
So shortly after the market opens (cash session) the Alert Software displays the “Dynamic Trigger Range” – and that’s your visual reference point for each trading session. The system is looking for the price to break out of that Range and then trend in one direction or the other – at least enough to hit Target 1 – at which point the trade is essentially at “breakeven”.
Here’s what you want to do:
When the Momentum system comes online in the morning (5-minutes after the cash open) in your ToS you just want to plot a green horizontal line at the Range High and a Red horizontal line at the Range Low. Those will stay at the same levels all session.
(Use the “Price Level” selection from the Drawings section of ToS. This will create a horizontal line that extends to the right)
Here’s an example where I have the Range High and Range Low marked on the ToS chart:
Then the following day, you simply drag those lines to the right and adjust for the new Trigger Range that day.
Again, those lines are the “price level” lines in ToS which automatically extend to the right (but not the left).
You may also want to plot an additional line (different color) to be used for the “Trade Price Barrier” / Alert Price. You can move this line around to correspond with the level for either a long or short Alert which is displayed in the software. In the image below it’s the orange line, which I originally placed at the Alert Price, but then moved up to the Entry Confirmation (fill) level.
The blue dashed lines on the chart are the Targets – which are displayed in the Alert Software once a trade is filled (Entry Confirmation).
Keep in mind when you actually place a trade, your ToS will plot a line at your Entry. Also when you set the Stop and Targets ToS will have lines on your chart for that too – and you can simply drag these lines on your chart to the proper levels that correspond to the levels displayed in the Alert software. So when you are trading live or logged in to Paper Trading you really only need to plot the Trigger Range lines and the Alert / Entry line.
Note that these lines you place on a chart will show up on each of your charts for that symbol. In other words you can have a 1-minute and 5-minute chart open and all the lines will display and correspond on both charts. When you move a line on one chart it will move on the others too.
This final image shows the Alert Software superimposed on a 5-minute Think or Swim chart to give you a good idea of how the levels on the chart correspond to the details in the System notes section of the software. (note that I didn’t include the Trailing Stop level – but you can add that also if you like).
To summarize: the Alert software is going to show you all the pertinent levels and it’s extremely easy to manually draw them on your charts. Keep in mind that the Range High and Range Low are the important ones – so you definitely want to plot those. The others are optional since they will appear automatically on your charts as you place orders for the Entry, Stop and Targets.
We recommend that you just start off and just observe a few sessions, then trade on Sim for a bit. In Think or Swim you can simply log into “paper trading” and get a good feel for everything trading on Sim.
You Won’t Find An Easier To Use Trading System Anywhere
The Power Emini Alert Software gives you an easy to follow – highly accurate trading system.
Entry Price – Trailing Stops – Dynamic Targets
PowerEmini Automated Alert Software For Day Traders