Steve Ruffley’s iView Charts
See the markets through the eyes of a pro trader
After years of trading the markets and being a professional mentor, I came to the conclusion that there was nothing truly new when it comes to showing people how to trade. There are countless systems, signals and gurus galore, many of which give trading a bad reputation. What I have found in my hundreds of live webinars is that what really works is showing someone physically how and why you get in and out of trades. This is how I came up with the concept of iView; how ‘I view charts’.
From my own experience as a trader and also my background of risk management and mentoring at trading firms like Marex Refco and Schneiders, I have seen literally thousands of trading styles. This made me think about what I actually did know, but more importantly when trading what I needed to know. What makes my system unique is the insights I give. I have almost turned trading on itself Instead of saying ‘I know a system you don’t’ I am doing the exact opposite. I am looking at whatever the most market participants are basing their trading decision on and I’m using the self-fulfilling technical analysis prophecy. This view combined with some clever programing means iView gives any trader a greater edge when making their own calls.
How iView works:
1. All time frame trading.
Once of the most popular questions I am asked on my webinars is what time frame do I use to trade? My answer as always is that ‘I use all of them’. When trading the markets you have to understand that the participants, will be made up of all type of traders and investors. You will have day traders, hedge funds, banks, central banks, the list goes on. All of these will have a different view and also different tolerances to volatility and directional moves.
Another key point I make when defining traders is that ‘swing, momentum or trend’ unless you hold overnight position you are a scalper. You can only really be defined as a position trader if you hold over night positions. This is where you have to take into account all time frame levels. This works in a very simple way, take the Monthly, Weekly and daily points of attraction, what I call ‘Bob levels’ break or bounce and display them on your intraday trading chart.
Take the FTSE for example, by taking the higher time frame attraction points the market will look to break or bounce intraday when it approaches MN W1 and D1 levels, you can see this inaction when are over laid on a H1 (hourly) chart. With iView there is a template for every time frame MT4 offers, so you get to choose what combination of time frames you put together. I personally like D1 H1 and 15m charts to build by intraday trading view.
What goes up must come down. Keeping to my self-fulfilling prophecy one of my all-time favourite technical analysis tool is Fibonacci. It is often miss used and they key to working with Fibonacci is using it in the correct way.
You have to use it in the right scenarios, market condition and more importantly the correct time frame, for me H1. It has to be applied to volatile market conditions and ‘over extend’ candles. This took a long time learn! However with the benefit of programing I was able to scan every market for the conditions I knew Fib would work well and with some other clever analysis working behind the scenes I made a great intraday tool.
Once you have all this you then focus around the key 50% retracement level. In my view this indicator works 80% of the time for me. It depends on how you trade and what type of trader you are, but with the set up on the H1 it is clear where the Fib ‘points of attraction’ are.
Staying with the volatility theme, there are certain aspects of technical analysis that just work in trading. Again going back to the self-fulfilling prophecy pivot point are one. Most traders will use pivots in some way, just as most trader will use moving averages.
These pivots are set to give R1 R2 & S1 S2 (support and resistance) based upon when a certain criteria of volume and volatility are met. This indicator will work on any time frame and I again recommend that you use a combination of time frames to get your own view of the product you trade and the entry levels you pick.
4. Trade view.
If this is not enough then you can just let iView do all the hard work for you. There a 7 types of trade I look to identify in my approach. By taking all the signals from all the oscillators and indicators I know the majority of traders look at like, Volume, RSI, DeM and the ATR and I was able to combine them into my own sentiment. This then forms a trade idea for each individual product.
So you simply have to click on the product you like the sentiment of, the time frame you are running on will then display a chart with all the other indicators I have previously mention already running. It’s that easy to use.
They key to the iView Bias:
Imminent Bull reversal
Increasing Bear sentiment – leading to reversal
30 – 45
Low edge directional bias
45 – 55
Strong range breakout chance
55 – 70
Low edge directional bias
70 – 90
Increasing Bull sentiment – leading to reversal
Imminent Bear reversal
In conclusion iView is how I use the charts to trade the markets. The inspiration behind them is all the other traders out there. There is a common misconception in trading that you need a secret strategy, something you know that others do not. In reality it is the exact opposite. You need to know what the majority of market participants are looking at and then trade with them when you know they are right, and against them when you know they are wrong.