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So.......does this work on a choppy day? Let's take a look. Sharkfin paintbars stay grey indicating neutral. Notice the breakout from the chop is very nicely indicated by the tema dot. I guess the answer is yes. Go ahead....test it yourself....find the worst day possible, as far as choppiness is concerned, put these indicators on your chart and see how it does. Now, if it's choppy what do you do? How about wait till it stops being choppy? Also, it helps to know what times of day are more likely to be choppy.
I just found out the Triple EMA will repaint if the plot type is not set to dot. I use mine as a hash and it was repainting.
Here is the fix (this is for the triple ema dots version but I imagine this part is the same):
I hate repaints! I know it's necessary for lines, that's why I only use one line (20 EMA) and I duplicate it with hash marks in another panel so that when I'm testing out ideas I'm sure I'm using something that is not repainting.
for me the problem are not the gray bars. just going sideways, no winning no losing. the problem is that blue bar with the blue dot and that red bar with the red dot. (I circled yellow). when you buy the blue and sell the red, you'll land in choppy land.
The TEMA is the line you see on the chart. It is set on 3 in this instance......however there may be charts where a setting of 4 may be preferable.
I have been experimenting for some time now......looking for the best directional filter I could find. EMA, Linear Regression and TEMA could all be used successfully.
Good observation........however since I am a scalper.....I am already in and out of my trade and waiting for the next set up........when it leaves choppy land.
I took a close look at the two instances that you pointed out......in each case there were 18 YM points from the dot trigger to the maximum possible points. Both trades represent great scalps of 8-10 points (which is what I go for) So.....for me this is good especially for a choppy day.
Am I correct in that you don't enter on the 15 chart? It's your anchor, so you'd probably be able to enter a little bit before? Or would you wait for the dot on the 15 to have support from the anchor?