Never Candle Again
Moderator: moderators
Never Candle Again
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.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
When there is nothing left to take away. . .
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:
This chart brought to you by Barchart com
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 (35.38 KiB) Viewed 5803 times
This chart brought to you by Barchart com
Last edited by IgazI on Mon Jun 13, 2022 7:16 pm, edited 1 time in total.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: Never Candle Again
- SQ_M30.png (56.99 KiB) Viewed 5790 times
Last edited by IgazI on Sun Jun 26, 2022 8:38 pm, edited 1 time in total.
Re: Never Candle Again
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.
Same chart:
All that extra data, and for what purpose?
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 (64.39 KiB) Viewed 5560 times
Same chart:
All that extra data, and for what purpose?
- MULN_dizzy.png (48.73 KiB) Viewed 5560 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: Never Candle Again
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.
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 (57.73 KiB) Viewed 5556 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
Re: Never Candle Again
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.
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 (62.22 KiB) Viewed 5535 times
Last edited by IgazI on Sun Jun 26, 2022 8:40 pm, edited 2 times in total.
Re: Never Candle Again
STEP 1: highest close to lowest close:
STEP 2: fill in the gaps between the current box and the previous.
Step 3: color it as you wish:
- step_1_comb_CL.png (17.82 KiB) Viewed 5443 times
STEP 2: fill in the gaps between the current box and the previous.
- step_2_fill_gp.png (22.01 KiB) Viewed 5443 times
Step 3: color it as you wish:
- step_3_color.png (15.73 KiB) Viewed 5443 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
-
aliassmith
- rank: 5000+ posts
- Posts: 5057
- Joined: Tue Jul 28, 2009 9:50 pm
- Reputation: 2847
- Gender:
Re: Never Candle Again
Guess you are really using a line chart without the lines.
Trade Your Way as Long as It Makes Money!
Re: Never Candle Again
Removed.
Last edited by IgazI on Sun Jun 26, 2022 8:40 pm, edited 2 times in total.
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Re: Never Candle Again
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.
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 (86.98 KiB) Viewed 5284 times
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.