PowerX Strategy "PowerZ"

[IgazI]

What is more important, the color of the candle or the price levels?

How does removing body-color change the way that you look at the chart?

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If I’m thinking in terms of being “in” or “out” of patterns then there is less distraction..

Why do you feel that color is important? there is no right or wrong answer, it is only an exercise.

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[IgazI]

What is more important, the color of the candle or the price levels?

How does removing body-color change the way that you look at the chart?

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Now your pushing it
It seems easier to see the candle structure in those pictures but my mind is saying it's more work to see if it was a bullish or bearish candle as you need to look at the previous candle. Maybe it's a good thing because you can see where you are in relation to the previous candle a bit clearer, is it up or down to the prior, where as with colour you will focus on the current candles indecision.

The guys over at UK spread betting say that it is for that very reason that one should trade a bar chart; color forces you to focus on what the individual candles are doing rather than looking at a candle as it relates to previous candles.

[Yirbu]

What is more important, the color of the candle or the price levels?

How does removing body-color change the way that you look at the chart?

fill_the_blank.jpg

Now your pushing it
It seems easier to see the candle structure in those pictures but my mind is saying it's more work to see if it was a bullish or bearish candle as you need to look at the previous candle. Maybe it's a good thing because you can see where you are in relation to the previous candle a bit clearer, is it up or down to the prior, where as with colour you will focus on the current candles indecision.

The guys over at UK spread betting say that it is for that very reason that one should trade a bar chart; color forces you to focus on what the individual candles are doing rather than looking at a candle as it relates to previous candles.

I think they have a point. Certainly there are benefits in using a bar chart. I use it quite frequently to see orderflow better. When I need to see details however, the tiny horizontal start and end are a bit difficult to see ...

[IgazI]

I think they have a point. Certainly there are benefits in using a bar chart. I use it quite frequently to see orderflow better. When I need to see details however, the tiny horizontal start and end are a bit difficult to see ...

I'd only use a bar chart if it is plotted HLC or OHL.

Colorless candlesticks are also an option, they're growing on me.

[dojirock]

What is more important, the color of the candle or the price levels?

How does removing body-color change the way that you look at the chart?

fill_the_blank.jpg

If I’m thinking in terms of being “in” or “out” of patterns then there is less distraction..

Why do you feel that color is important? there is no right or wrong answer, it is only an exercise.

guess_color.jpg

Momentum. Price has no color. Without force I am blind.
-doji

[dojirock]

On the side, I'm currently looking at trading from ticker tape style / time and sales feed to trade from and be chart free. I have the concept in mind but getting a display that I envision is another issue

[kiwiarian]

On the side, I'm currently looking at trading from ticker tape style / time and sales feed to trade from and be chart free. I have the concept in mind but getting a display that I envision is another issue

Not sure if it is useful as an idea but Tro had an indicator called TRO2018_TICK_CHART

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It's a static picture but it moves around a lot. I can post a video clip of it running if you want.
I have never used it so can't give you any more details but I'm sure the man himself can.

[bb01100100]

On the side, I'm currently looking at trading from ticker tape style / time and sales feed to trade from and be chart free. I have the concept in mind but getting a display that I envision is another issue

T&S can get incredibly noisy when it’s busy, so aggregation of some sort might be useful (by time, e.g millisecond to 100ms; or by price; combo of both) but then the question emerges on how to arrange and present that info… graphs end up being quite useful!

One alternative is a table.. which is essentially what price ladders / depth of market tools are.

Another alternative would be a low frequency, textual description based on market generated events, e.g. “breakout: range of prior 3 candles exceeded by x%”, …some time later… “zline test of prior candle”.. some time later.. “zline rejected: current bid higher than current candle opening price”…

Sounds interesting but it would be very hard to make it sufficiently broad while still being relevant / actionable.. eg “highest candle close during waxing gibbous moon phase” lol

[IgazI]

On the side, I'm currently looking at trading from ticker tape style / time and sales feed to trade from and be chart free. I have the concept in mind but getting a display that I envision is another issue

I just record the last two digits across a horizontal line.

You could make a small program that waits for a two-digit input and then plots the numbers as you see below;
after taking an action, you could hit 'clear' and start following along again.

Sometimes I do this just for fun
you don't have to catch every tick to see what's going on.

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[IgazI]

Colorless, no distractions

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. . . no 16 hours of watching button-mashers on YouTube needed;
just follow the formula, patterns and breakouts.