Never Candle Again

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IgazI
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Never Candle Again

Postby IgazI » Sat Jun 11, 2022 3:57 pm

This is a place to break away from Steve Nison and the curse that he has brought upon the West.
Last edited by IgazI on Sat Jun 11, 2022 5:00 pm, edited 2 times in total.
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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IgazI
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When there is nothing left to take away. . .

Postby IgazI » Sat Jun 11, 2022 4:56 pm

The bars are for your benefit, not mine, until you can see and understand that you've never really needed them;
just draw a box around three closing prices and look at the current sets compared to previous sets.

Any examples posted are not recommendations:
MULN_M30.png
MULN_M30.png (35.38 KiB) Viewed 1152 times

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Last edited by IgazI on Mon Jun 13, 2022 7:16 pm, edited 1 time in total.
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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IgazI
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Re: Never Candle Again

Postby IgazI » Sat Jun 11, 2022 5:34 pm

SQ_M30.png
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Last edited by IgazI on Sun Jun 26, 2022 8:38 pm, edited 1 time in total.

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Re: Never Candle Again

Postby IgazI » Mon Jun 13, 2022 6:33 pm

All that we are doing is combining 3 closing prices into a set; the resulting plot is more than enough information.

If you trade closing prices then you do not have to worry about wicks; if the columns are 20 minutes then you can place a trade once every 20 minutes.

MULN_M20.png
MULN_M20.png (64.39 KiB) Viewed 909 times


Same chart:

All that extra data, and for what purpose?

MULN_dizzy.png
MULN_dizzy.png (48.73 KiB) Viewed 909 times
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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Re: Never Candle Again

Postby IgazI » Mon Jun 13, 2022 7:02 pm

These columns are 40 minutes and the sets are 2 hours.

Each box is like snapping a photo of paint drying; how often do you need to take a picture to observe what you desire to see?;

that's all you are doing when selecting a chart period.

MULN_M40.png
MULN_M40.png (57.73 KiB) Viewed 905 times
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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Re: Never Candle Again

Postby IgazI » Mon Jun 13, 2022 8:17 pm

You know that these charts are not recommendations, right? I don't have to say this every post?

30 minutes has always been my favorite 'slice' of time.

The 'set' does not have to be 3, it can be highest to lowest close in 2, 3, 4, 6, or . . .;

just remember that you're trying to capture movement, not simulate a price bar.

This chart uses a 4 period set:
does it look all that different from a 3 period set? Not really.
MULN_M30.png
MULN_M30.png (62.22 KiB) Viewed 884 times
Last edited by IgazI on Sun Jun 26, 2022 8:40 pm, edited 2 times in total.

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Re: Never Candle Again

Postby IgazI » Tue Jun 14, 2022 3:34 am

STEP 1: highest close to lowest close:
step_1_comb_CL.png
step_1_comb_CL.png (17.82 KiB) Viewed 792 times

STEP 2: fill in the gaps between the current box and the previous.
step_2_fill_gp.png
step_2_fill_gp.png (22.01 KiB) Viewed 792 times

Step 3: color it as you wish:
step_3_color.png
step_3_color.png (15.73 KiB) Viewed 792 times
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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Re: Never Candle Again

Postby aliassmith » Tue Jun 14, 2022 3:56 am

Guess you are really using a line chart without the lines.
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Re: Never Candle Again

Postby IgazI » Tue Jun 14, 2022 1:21 pm

Removed.
Last edited by IgazI on Sun Jun 26, 2022 8:40 pm, edited 2 times in total.
"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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Re: Never Candle Again

Postby IgazI » Tue Jun 14, 2022 2:42 pm

Sets vs Lines.

They are not even close to being the same thing;

both are trying to summarize the movement of the slices (the columns), one is better at it than the other.

The candle chart is going to do the same as the line chart; skip most of the data and then pretend to know what's going on.

line_chart.png
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"I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my stocks were behaving. There were no other influences, because I did not see or hear anything else." - Nicolas Darvas

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