In this guide, you will learn how to set up the Menthor Q Levels, Blind Spots Levels, and Swing Trading Levels indicators for Sierra Chart. We will walk you through the setup process step by step, ensuring you can efficiently integrate these powerful tools into your trading workflow.

What is Sierra Chart?

Sierra Chart is a professional-grade trading and charting platform known for its powerful market analysis tools, reliability, speed, and flexibility. It is widely used by professional traders, proprietary trading firms, and retail investors. With its extensive customization options and efficient execution capabilities, Sierra Chart is a preferred choice for traders looking for advanced charting solutions.

MenthorQ Indicators for Sierra Chart

We offer a range of indicators designed for Sierra Chart, providing you with actionable levels to enhance your trading strategies. Below are the key indicators available:

  • Menthor Q Levels: Provides access to End of Day and Intraday Gamma Levels.
  • Blind Spots Levels: This indicator provides access to the MenthorQ Blind Spots Levels. Identifies reaction zones based on asset correlations.
  • Swing Trading Levels: This indicator provides access to the MenthorQ Swing Trading Levels. Focuses on levels for longer-term trades.

Key Features of the Indicators

Each of the indicators has the following features:

  • Levels Conversion for various assets
  • Integration via API
  • Customizable Lines and Labels

How to Set Up the Indicators

Step 1: Join Our Membership and Download the Indicator

The Menthor Q indicators are available for Premium and Pro members. Once you subscribe, you will find the download link in the Integration section of your Account Dashboard.

Sierra Chart Integration - Sierra Indicator
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Step 2: Save the DLL File in the Sierra Data Folder

After downloading the indicator, save the DLL file in your Sierra Chart Data folder. This step ensures the indicator is available within your Sierra Chart instance.

Step 3: Add Custom Study to the Chart

To add the indicator to your chart:

  1. Go to Analysis > Studies > Add Custom Study.
  2. Select the desired Menthor Q indicator from the list.
Sierra Chart Integration - Add Custom Study
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Step 4: Select the Indicator and Add to the Chart

Once added, you can customize the indicator settings to match your trading preferences.

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Indicator Settings

Let’s go through the key settings available for each indicator:

Sierra Chart Integration - Indicator Setting 01
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Inputs

  • Data Source: Choose between API or File. The API option will automatically load the levels using your API key. Alternatively, you can upload levels manually using a text file.
  • API Key: Paste your API key from the Integration section of your dashboard.
  • API Update Frequency (Minutes): Set the frequency for automatic updates. The default is every 120 minutes.
  • CSV Filename: If using a text file, ensure it is named SierraChart Q-Levels.txt and saved in the Sierra Chart Data folder.
  • Symbol Name: The indicator will automatically use the symbol displayed on your Sierra Chart.
  • Show Status Text: Displays the last update timestamp from the API.
  • Levels Type: Here you have the ability to choose the type of level you want to plot. For example you can choose between Gamma Levels, Gamma Levels Intraday, Gamma Scalping and Gamma Scalping Intraday.
  • Auto Update Enabled: Toggle auto-update for the API. This option allows you to have the API set to Auto Update. The levels will then be updated based on the frequency in minutes selected.

Levels Type

Within the MenthorQ Levels Indicator you have the option to choose which levels to plot on the chart.

For Gamma Levels we have 2 Models:

  • Gamma Levels. Those are the main MenthorQ Gamma Levels.
  • Gamma Levels Intraday. Those are the Gamma Intraday Levels.
  • Gamma Scalping. This model allows you to access more gamma levels within a smaller range. Tailored for Futures Traders who are looking at tight areas for scalping.
  • Gamma Scalping Intraday. Those are the Gamma Scalping Intraday Levels.
Sierra Chart Integration - Indicator Settings 1
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Important Notes:

  • Gamma Levels Intraday: Available for Stocks, ETFs, and Indices. Not available for Futures yet.
  • To apply intraday Gamma Levels to futures, use a conversion from ETFs. For example:
    • SPX or SPY to ES
    • QQQ or NDX to NQ
    • GLD to GC
    • USO to CL
  • Swing Trading Levels: Available for Stocks, ETFs, and Indices. Futures conversions can be applied similarly.

Levels Conversion

Why Convert Levels?

Converting levels allows traders to apply insights from one asset to another. Typical conversions include:

  • Indices or ETFs to Futures: Convert SPX or SPY levels to ES or QQQ levels to NQ.
  • Swing Levels to Futures: Convert SPX Swing Levels to ES or QQQ Swing Levels to NQ.
  • Blind Spots Levels: Convert levels from one asset to another, such as SPX levels to NVDA or AAPL.
Sierra Chart Integration - Levels Conversion Settings 1
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Conversion Settings

  • Override Symbol Name. This option lets you change the ticker symbol that appears in the level labels. For instance, if converting ESH2025 levels to NQ, you can display the symbol as ES.
  • Ratio Calculation Method. Choose from the following options:
    • Disabled: No conversion.
    • Manual: Manually input the conversion ratio.
    • Auto: Automatically calculate the ratio based on asset prices.
  • Manual Ratio Value. If using Manual conversion, input the ratio value directly.

Auto Ratio Levels Conversion

Auto Ratio Conversion simplifies the process by automatically calculating the ratio between two assets. The system uses the price of one asset divided by the other to determine the conversion ratio.

For example:

  • If QQQ is quoting at $455 and NQ is quoting at 21,000, the ratio would be:
    • 21,000 / 455 = 46.15385
Sierra Chart Integration - Auto Conversion 1
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Steps to Set Up Auto Conversion

  1. Symbol of Base Chart: The asset you are converting to (e.g., ES when converting SPX levels to ES).
  2. Symbol to Convert: The asset you are converting from (e.g., SPX).

Calculation Methods

  1. Manual: Input the base price manually.
  2. Latest Trading Day Close: Uses the previous day’s closing price.
  3. Price at Time of Day: Select a specific time to calculate the ratio (e.g., 10:00 AM).
  4. Last Price: Uses the latest available price, updating in real-time.

For methods other than Manual, you must specify the chart references:

  • Symbol of Base Chart Reference: Select the chart for the asset you are converting to.
  • Symbol to Convert Chart Reference: Select the chart for the asset you are converting from.
Sierra Chart Integration - levels conversion settings 3
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