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I have watched this whole setup in real time but it is not tradable because price may be miles away from candle and candle will be formed after bar close, its an eye candy and at best tells you what market has done in the past and smoothes the action. I have set it cobc=false.
You are correct, price will not be at the level of the current candle. As a momentum trader, I actually don't care that price isn't at the levels of the current candle. What I do care about is that I am taking a trade in the proper trend direction. Also, notice that as a move is about to start or end on this chart, the bodies of the bars begin to compress. For me, this is an attention grabber that I may be needing to take an action soon.
Please forgive the tardiness of my response, still getting used to inbox/notifications on futures.io (formerly BMT). The study you refer to is SuperTrend U11 made available by @Fattails. Hope this helps and feel free to send me a message should you need anything else. Trade well.
This setup is really interesting. Do you know if is there any similar indicator for MULTICHART?
Or, in alternative, is there any way to obtain the code for this version of the HA candles in order to create a multichart indicator with the same features?
I am a beginning trader that has been experimenting with different charts (HA, Renko, time, tick, etc.) and the one I always seem to go back to and is conceptually the easiest as a trader to understand is the HA. After seeing this work of art you created here, I get the concept (by looking at this chart) of how I should be able to successfully and consistrantly trade. I have searched the NT forums and Google for this and just can't find it. And it is not in the stock indicators provided by NT8.
Again, being new, and having never added an indicator to NT8, I could simply be missing the area for this indicator setup because I am too new. Would you be able to direct me to where I can get what I need to create this same chart?
Your help and attention on this is greatly appreciated!
that I am a Johnny come lately in this thread. So, permit me, please, as a guy with many years of experience... derivative bars are not price bars. It is certain, that unless you fully understand the picture, you will be enticed by the siren song of amazing beautiful visuals.
In the forum there is an indicator written by someone I regard as genius that will allow you to use the HACO formula to color actual price bars candle or OHLC. This is FAR better for most people that a derivative bar. I do not mean to rage against various bar types, but I will if someone wants to experience the rant.
I will use the search bar provided and link the page if it is still there. Also, when I can I will fire up the NT machine and provide pictures if anyone cares. If nobody cares, carry on and please use derivative bars to aggressively trade /ES between 7am CST and 11am CST