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I think partly from my schedule hthis week, but the 120m was starting to just look like garbage to me. Tonight I have a better feel, and am watching the symmetrical triangle (orange/blue). The cyan line broke already, which is actually a higher timeframe, but the near term consolidation is what I am more interested in.
It's a Gann Grid. Let's you add a structure to trade from. Diagonal graph paper... just did some searching. I don't think ninja has it. Also helps with consistent axis scaling. I am off and on with it. I was just looking at your charts and thought it went with your style of zooming out to find structure... you could also Google pyrapoint. Similar concept that ensign offers I believe.
I previously used Ensign and used a trading method based on price action and momentum that used the Pyratool (aka Pyrapoint). I have moved to NinjaTrader and was wondering if there is anybody who knows if the Pyratool is (a) available in NT, or, (b) can …
I recently said, jokingly, that just believeing in an outcome, waiting for it, and getting out when wrong, might just be a "plan" That grid, if someone traded the way it should be traded (assuming from one line to another?) could be very profitable, IF they believed in it enough to find out, set some max factor to say they are wrong, and develop a "feel" for when it is better to believe or not.
I am finding all indicators to be that way. To me, today, I don't think I want to change anything, only because this is what I know. I recently was going to replace my Donchians with ones that changed colors, or remove the indicator that changes my bars from white to black, but why? Indicators give a frame of reference, to me anyway, so that when something happens in the future we can reference it to the past.
If I were starting over, I would love to see what that grid could do, but today I don't know how I could trade if I did not draw the lines myself