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Hey Jeff...something else that would be cool (if you can get one of the programmers to whip it up) is do something like this. Ensign will begin every 30 minutes with a price bar color change. Not something we can't live without, but....
Can you help answer these questions from other members on NexusFi?
On your chart I can not figure out any rhyme or reason to color bar changes.....can you enlighten me? Sometime cyan is up sometimes it's down? What is with that?
If it were me, I'd just draw a vertical line or plot a circle or any other shape every 30 minutes. I prefer to save my bar colors for a paintbar.
But if anyone wants to code it, it'd be super easy to do.
Jeff - it's interesting that you try 5min. After trying tick & range, I think I like 5min the best. You can easily see if the market is too choppy, as CL was near the open (huge 30-40 tick bars tells me to stay out). On a range chart those might look tradeable, maybe even be tradeable but not for me.
Other advantages:
- one timeframe for all markets.
- no more missing a trade on a fast tick chart (happens to me all the time, I get bored and start surfing and then miss a trade)
The "1st" 5 minute bar is pink for the first 30 minutes...
When the second thirty minutes start, the "1st" 5 minute bar is blue...
When the third thirty minutes start, the "1st" 5 minute bar is yellow, the next red, and then the colors start all over again.
Note: Actually, I screwed up the first screenie. It has the second 5 minute bar starting at 9:00 and it should be 9:05 for the way you're doing it. Here's the way it's supposed to look. The 2nd five minute bar is at 9:05, the 3rd starts at 9:35. etc, etc.
Interesting, but a little confusing, like those brain-teasers folks send around from the web - GREEN, YELLOW, BLUE, WHITE and you have to SAY the color, instead of the NAME of the color. This might make me want to go short, when it's actually a long signal.... just my 2 cents.
After all, it's what you learn AFTER you know it all, that counts!
