What chart settings I use in DeanTrading Framework? #

So many of you have been asking me for my settings for the BellTPO Indicators, especially for the new BellTPO 2.0 Speed version. I use BellTPO Market Profile, Order Flow and VSA indicators, the 2.0 Pro Speed version to make my decisions in the markets. And today I’m going to talk about all the settings I use in that software. And if you read till the end then there is a very cool surprise offer for all those who are not yet part of the Dean Trading Framework or have not purchased the BellTPO indicators yet.

Step By Step Chart Settings Procedure for BellTPO 2.0 Speed Version #

I want to start from a blank workspace and I will go on adding charts based on the system I use, that is the Dean Trading Framework.

Step 1: Open Ninjatrader 8 #

We will start by opening the Ninjatrader 8. Ninjatrader 8 is a trading platform, and to plot the instrument of your choice, you will require a data service. I personally use truedata with Ninjatrader 8 and BellTPO to get my realtime charts. Let’s start with it.

Step 2: Add a new chart… #

Follow these steps…

• Add a new chart.
• Select the instrument – in our case we will start with NIFTY.
• Select time frame – we will start with the daily time frame.
• Select the number of days to plot as 3650 (approx 10 years).
• Select the trading hours template as “Nse”.
• Chart style to be selected as equivolume candles (width of the candle is proportional to the volume on the candle).

Step 3: Load VSA indicator on daily chart… #

Follow these steps to load VSA indicator…

• Right-click on the chart and select indicators.
• Select Bell VSA Pro indicator and double-click on it.
• Make necessary changes in the settings window…

Step 4: DTF settings for Daily VSA chart (NIFTY)… #

Use these settings on the VSA chart…

• Select “show VSA indicator”.
• Select “plot volume histogram”.
• Deselect “show volume profile numbers”.
• Select brick size as 50 for NIFTY.
• Session period – Month (as we want to plot monthly profiles).
• Data collection type – Day (don’t select “min”, else your charts won’t plot correctly).
• Set volume histogram width as 10.
• Deselct HVN Alert Line.
• We cant plot VWAPs on the daily chart, so set the colour for both VWAPs as “transparent”.

Step 4: Bottom panel on Daily VSA Chart (NIFTY)… #

We will plot the Average True Range (ATR) indicator in the bottom panel on the daily VSA chart…

• Right-click on the chart, select indicators.
• Select ATR indicator and double-click it.
• Change the indicator period from 14 to 100, click ok.
• ATR indicator will be plotted in the bottom panel.

Step 5: Repeat step 3 and 4 on a new daily chart for Banknifty… #

Alternatively, watch the video above for a simple shortcut to avoid repeating all the settings for Banknifty.

For Banknifty the brick size will be set at 175.

Step 6: Load Market Profile indicator… #

Follow these steps to get market profile charts…

• Add a new chart.
• Select the instrument – in our case we will start with NIFTY.
• Select time frame – we will start with the 30 minute time frame.
• Select the number of days to plot as 50.
• Select the trading hours template as “Nse”.
• Chart style to be selected as simple candlesticks.
• Right-click on the chart and select indicators.
• Select Bell Market Profile Pro indicator and double-click on it.
• Make necessary changes in the settings window…

Step 7: DTF settings for Market profile chart (NIFTY)… #

Use these settings on the Market Profile chart…

• Set lot size as 75 for NIFTY.
• Set TPO size as 200 (value comes from Daily ATR for 100 days), watch this video for the detailed procedure.

How to set TPO size, the DTF way… #

• Set volume histogram width as 10.
• Deselect plot candles.
• Select plot TPO.
• Deselect “show volume profile numbers”.
• Select show current session to see split version of last days profile.
• Select appropriate value area plotting method (I personally dont use value areas anymore).
• Value area calculation method is TPO.
• Value area size is 70%.
• TPO colors settings…
  • If you want multicolor settings do nothing.
  • If you want single color TPOs, select “same color”.
  • Then choose the color of TPO One, it will be applied to all letters.
• I don’t plot “HVN”, “mid session” or “half back” lines.
• I don’t want left volume area so deselect it.
• I don’t want the bottom table so deselect it.

Step 8: Repeat step 6 and 7 on a new 30 min chart for Banknifty… #

Alternatively, watch the video above for a simple shortcut to avoid repeating all the settings for Banknifty.

For Banknifty the TPO size will be set at 700 and lot size will be 25.

Note: The TPO size method above works for NSE stocks and futures because the tick size is 0.05. For commodities, the settings will be different.

Step 9: Load VSA indicator on 5 min chart… #

Follow these steps to get VSA charts…

• Add a new chart.
• Select the instrument – in our case we will start with NIFTY.
• Select time frame – we will start with the 5 minute time frame.
• Select the number of days to plot as 50.
• Select the trading hours template as “Nse”.
• Chart style to be selected as equivolume candlesticks.
• Right-click on the chart and select indicators.
• Select Bell VSA Pro indicator and double-click on it.
• Make necessary changes in the settings window…

Step 10: DTF settings for 5 Min VSA chart (NIFTY)… #

Use these settings on the VSA chart…

• Select “show VSA indicator”.
• Select “plot volume histogram”.
• Deselect “show volume profile numbers”.
• Select brick size as 50 for NIFTY.
• Session period – Day (as we want to plot daily profiles).
• Data collection type – Min.
• Set volume histogram width as 15.
• Deselct HVN Alert Line.
• We can plot VWAPs on the daily chart, so don’t disturb the color settings for VWAP and PVWAP.

Step 11: Bottom panel on 5 Min VSA Chart (NIFTY)… #

We will plot the Bell Delta indicator in the bottom panel on the 5 min VSA chart…

• Right-click on the chart, select indicators.
• Select Bell Delta indicator and double-click it.
• Disable the sound alert.
• Select load history.
• Keep delta type as cumulative.
• Use the horizontal line tool to draw a horizontal line in the delta window.
• Double-click the line and set the data parameter to zero.
• Enable “Lock” setting so you don’t bump it accidentally.

Step 12: Repeat step 9, 10 and 11 on a new 5 min chart for Banknifty… #

Alternatively, watch the video above for a simple shortcut to avoid repeating all the settings for Banknifty.

For Banknifty the brick size will be set at 175.

Step 13: Load Order Flow indicator… #

Follow these steps to get market profile charts…

• Add a new chart.
• Select the instrument – in our case we will start with NIFTY.
• Select time frame – we will start with the 15 minute time frame.
• Select the number of days to plot as 5, as historical tick data is not available for more than 3-10 days depending on your data subscription.
• Select the trading hours template as “Nse”.
• Chart style to be selected as equivolume candlesticks.
• Right-click on the chart and select indicators.
• Select Bell Order Flow Pro indicator and double-click on it.
• Make necessary changes in the settings window…

Step 14: DTF settings for 15 Min Order Flow chart (NIFTY)… #

Use these settings on the Order Flow chart…

• Set the lot size for NIFTY to 75.
• Bricksize set it same as VSA chart, so 50 for NIFTY.
• Data collection type as bid-ask.
• Set bid-ask volume imbalance at 3.
• I dont plot buy-sell commitment, so I deselect it.
• Select “plot left area”.
• Select “show bottom table”, I only plot “session letter” in the bottom table.
• Select “plot delta bars”, set the height to 150.
• You can plot a variety of OFA chart types, I personally like the “bid-ask histogram”.
• With “bid-ask histogram” we can spot high volume nodes on both buy-side and sell-side.

Step 15: Repeat step 13 and 14 on a new 15 min chart for Banknifty… #

Alternatively, watch the video above for a simple shortcut to avoid repeating all the settings for Banknifty.

For Banknifty the brick size will be set at 175 and lot size of 25.

BellTPO Pro or Ultimate, which one I use… #

This is how I set up my charts. These are the settings I use regularly. And if you want your charts to look like my charts, you have to use these settings. Now, please understand, I’m using the bell market profile pro indicator and there is an ultimate version which has a lot more bells and whistles. There is a scanner too, I believe.

And if you want all those additional facilities or indicators and bells and whistles, you can go for that ultimate version. I personally don’t use it, so I may not be the best person to help you on that. But if you are trading using the Bell Market Profile Pro Indicator, then obviously I can help you with the settings like I have done in this video.

Learn more about the Market profile, VSA and Order Flow (DTF Quarterly Membership)… #

And if at all you want to learn how to trade using those indicators, I have a complete course on market profile, order flow and VSA. And my own Dean Trading Framework, how I incorporate all these tools in my framework.

Special Offer by BellTPO for DTF Members only… #

If you join my membership, which gives you access to my courses for three months at a time, you will get a very special offer on the BellTPO software. Apart from the discounts, you will get a one month free trial for the BellTPO software (Dean Premium Plan). All you have to do is buy a one-month subscription to truedata because data is not free and you will get a free trial for the BellTPO indicators for one whole month.

Upgrade after the Trial #

After that obviously, if you choose to buy the indicator, you can buy the lifetime version. But there will be no extension to the trial. And this offer for trial is exclusively for those who join the Dean Trading Framework Quarterly Membership.

The logic behind it is very simple, that if you join the framework, you need charts to practice your learning. So you need something, you know, to practice whatever you learn and then find out whether it is helping you or not. Obviously, these charts are not a trading system.

So you will learn from my courses and apply them on the indicators for one month and you will be able to find out whether these charts or this analysis type is for you or not. Earlier there was no way you had to use some online services to practice, but now BellTPO has kindly offered us with a one month free trial, all you have to do is just pay for data and you will get a one month trial and you can practice all the principles taught in the Dean Trading Framework on these market profile chart, which look just like mine.

Get my exact workspace… #

You will also get my workspace, which I have just set up in front of you as a part of that installation.

And then you can also see whether you are understanding the concepts and the principles taught in the course correctly. You can match it with me and then we will have a common platform and from there we can build our trading discussions.

And I will help you learn all these beautiful tools which will help you improve your market understanding and trading. So I hope you like this detailed view of chart settings or whatever settings I’m using right now. Also, a nice offer from BellTPO.

So thank you for reading this till the end, I would really appreciate if you share it with your friernds and collegues too. I will see you in the next one…