PowerX Strategy "PowerZ"

[BambinoFlex]

columnCHart.png
Attempt number 1 EURUSD

And the top wick could be drawn in manually on that middle box/bar.

Looks right.

You can also right click on the boxes to change the settings as well as clone the boxes.

PS: remember: it's a closing range, not a custom candle, you're still trading the underlying column chart.

Since you brought it up, what’s your view on the 2xCCHAHA indicator?

I originally found it on BabyPips, shared by MO, and after watching it, I’ve seen a lot of very neat things, especially for range breakouts. It also has a line that follows the open of the CC candle and it serves as a really good line, similar to how someone would use a MA line.

[IgazI]

Since you brought it up, what’s your view on the 2xCCHAHA indicator?

I originally found it on BabyPips, shared by MO, and after watching it, I’ve seen a lot of very neat things, especially for range breakouts. It also has a line that follows the open of the CC candle and it serves as a really good line, similar to how someone would use a MA line.

Did I bring it up? I don't remember ever saying anything about the 2xCC indicator

If you build an hourly candle with 30 minute closes there there are two possible 'versions' of the chart, and if you use 15 minute closes then there are 4 possible versions:

I am not really interested in that. . .

with closing ranges, they simply create a sort of channel for the underlying data and always originate from a consistent starting point such as the beginning of a day, month, or year; just use whatever time zone is most convenient.

Again, closing ranges are not custom candles, they are simply the closing range of the underlying chart.

I am not saying 2xCC and TrendSetter and the like are not interesting and useful to someone, I personally am not interested in them.

[BambinoFlex]

I meant to say “mentioned” not “brought up”, sometimes what I mean is not what I say and what I say is not what I mean

Thank you for your response though and thank you for sharing your views

[IgazI]

#-o I meant to say “mentioned” not “brought up”, sometimes what I mean is not what I say and what I say is not what I mean

Thank you for your response though and thank you for sharing your views

I too will say things like "you're always trading your largest chart" when what i mean is that you are basing your decisions on your largest chart while trading your smallest chart.

[BambinoFlex]

#-o I meant to say “mentioned” not “brought up”, sometimes what I mean is not what I say and what I say is not what I mean

Thank you for your response though and thank you for sharing your views

I too will say things like "you're always trading your largest chart" when what i mean is that you are basing your decisions on your largest chart while trading your smallest chart.

The joys of the human language and joys of being human. Where the same thing can be interpreted in different ways.

What is the “largest” chart? What is up, what is down

Oh, how it is to seek understanding! We truly must be like children to receive.

Here’s a picture I just ran across, maybe it clarifies the “largest” chart idea. It will probably confuse some more though

[prochargedmopar]

Damnn, MEMORY:

###AU1.jpg (204.13 KiB) Viewed 887 times

[kiwiarian]

#-o I meant to say “mentioned” not “brought up”, sometimes what I mean is not what I say and what I say is not what I mean

Thank you for your response though and thank you for sharing your views

I too will say things like "you're always trading your largest chart" when what i mean is that you are basing your decisions on your largest chart while trading your smallest chart.

The joys of the human language and joys of being human. Where the same thing can be interpreted in different ways.

What is the “largest” chart? What is up, what is down

Oh, how it is to seek understanding! We truly must be like children to receive.

Here’s a picture I just ran across, maybe it clarifies the “largest” chart idea. It will probably confuse some more though

Feel like we need one of these to understand that chart

oscilloscope.png (153.09 KiB) Viewed 872 times

[BambinoFlex]

When I was on my charts for hours on end (before I got married), I would close my eyes and see charts and squiggles like those.

*I’ll stop posting though, don’t want to clutter the thread

[IgazI]

The joys of the human language and joys of being human. Where the same thing can be interpreted in different ways.

What is the “largest” chart? What is up, what is down

Oh, how it is to seek understanding! We truly must be like children to receive.

Here’s a picture I just ran across, maybe it clarifies the “largest” chart idea. It will probably confuse some more though

Makes sense.

I guess I would define "largest" as the chart period that is directly above your entry chart, not necessarily your "largest chart".

When it comes to trading closing prices, you have to take more samples, you have to divide the 'natural' TF by at least 2 to capture the rough shape of a range.

(1) Satellite view: weekly closing prices ("monthly") <= "max HODL" chart.

(2) Aerial View: 6 hour closing prices ("daily") <= trade opportunity chart.

(3) Ground View: 30 minute closing prices ("hourly") <= entry chart.

For smaller chart periods, 5 minutes and below, I'd use something like a Kagi.

M30_Range_ADAUSD.png (109.63 KiB) Viewed 820 times

[BambinoFlex]

Well put, Satellite, aerial, and ground. Also coincides with our perception. The higher you go, the slower things seem.


So far, I’m only comfortable with the daily being my smallest, “largest” chart. I don’t sit much in front of a computer and when I tried using the 4hr as my large chart, my winrate took a big hit. Just felt like I was working harder for the same profits or I would make my average and then lose it. Back to the daily+ for me. Hourly entry preferred.