Parkerdeano
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Yes. I use them. They do help me trade. He also does a course that teaches you how to use them.
Dean.
Dean.
PitBull
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If you have tradestation they're free on the forums or you could easily code them yourself if you just read some easy language code. A moving average that changes colour when up/ down combined with heikin ashi bars. Please don't waste £700 for this.
have produced something similar does anyone want to do a comparison? Its a 1 minute with the 'gravity bar' and HA candles with a 3 minute below it for guidance. I'm not really using it, just want to put it out there and see if anyone has any ideas on it.
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If you dont mind, it would be good to see it action.
Ive done some research and found that the colour charts turn blue or red in relation to a moving average which is based on the wieght of the price relative to the high or low. Meaning, if, for a particular bar, the prices 'tick count' is around the lower half of the bar, than the top half, it will turn red. if there is more activity in the top half than the bottom, it turns blue. I
m not sure how this average is writtin in code, but i do know it goes something like the difference between the number of ticks (regardless of time period) above the open (or top half of bar) and the bottom half (or lower than the open).
im sure there is a simpler way to explain. lol
Here is the file, you can mess about with the formatting to alter how quickly it changes from red to blue etc.
I had a look at your chart, it looks quite impressive. it seems to work better on very low time frames, so i can see why you may favour using another setup.
if you dont minf dropping me an email, would like to chat?
They'll work as well as anything you could buy for 700 or 800 quid which doesnt say much, the point is that if you think you can use this sort of tool to help you then you should try a free one rather than spend a lot of money. Compare this to something like Ablesys that costs thousands and you'll not find much difference in terms of success.
These guys are just fooling people by showing them only the examples when it works. If you followed all the signals these systems give you you'll lose money.
Anyone that can prove otherwise should feel free to post their P&L.
yes they work, they seem to work better on lower time frames, i.e. 1 min, 5min and tick charts. its safer to use them 3 time frames at the same time i think, as one timeframe is unreliable.
the only problem i find is if there is a breakout occuring you wouldnt know until after it has happened (but this is true with any tecnical analysis), so knowledge of market activity is required.
i think it would work great with some kind of envelope. Not any envelope, it will need a relationship to your colour chart logirithm!
I think you done a great job with it though!
the only problem i find is if there is a breakout occuring you wouldnt know until after it has happened (but this is true with any tecnical analysis), so knowledge of market activity is required.
i think it would work great with some kind of envelope. Not any envelope, it will need a relationship to your colour chart logirithm!
I think you done a great job with it though!
Try putting a slow stochastic on it, or maybe plot some support and resistance from daily time frames on it, like the high and low of previous days and see how it works coming off those levels.
Ambrose Ackroyd
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Excellent point dear chap.
I was looking at these gravity bar and colour charts they do look tempting. But I have purchased things like this before and it never worked out.
Does any body actually consistently take profits out of the markets using this system?
Also i notice its only compatible with tradestation and esignal, they aint cheap charting packages so it will be quite expensive to just give it a trial run...
'What Really Profits' done a review and said it was a profitable system, they used daily charts and hourly charts system. Who knows what to believe!
Does any body actually consistently take profits out of the markets using this system?
Also i notice its only compatible with tradestation and esignal, they aint cheap charting packages so it will be quite expensive to just give it a trial run...
'What Really Profits' done a review and said it was a profitable system, they used daily charts and hourly charts system. Who knows what to believe!
Ambrose Ackroyd
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Only believe yourself and believe in yourself my friend.
Believe nothing else or nobody else, especially reviewers of systems who simultaneously market and sell those same wonderful systems that they review.
I wouldnt waste the money, if you really want to use something like this I posted a couple of indicators for tradestation earlier in this thread, they are similar, just heiken ashi candles and a MA that changes colour depending on whether it is heading up or down. I have seen the way the colour charts are marketed and its clear they just show you examples of when they work and ignore examples when they dont work.
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