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So.. after rereading this thread many-many times (thanks God it is not as long as Similarity thread) I’ve got some idea. Ok, what we have.
We have a line that represents the price in usual way and we have „another line“. And we compare the behaviour of these two lines. The only question is what is this „another line“?
This „another line“ is a line, not a bar.
This „another line“ is a) not indicator nor b) trend-line and c) obviously it is not a line from an other timeframe and d) it is not tick average.
This „another line“ is drawn by „another way of drawing price chart“. Knowing that Mr GG53 loves channels and fractals I see the only way for this „another line“ is to be.. a channel.
In one of his posts Gg53 said that „always stay within High/Low“ and „They must have a consistent formula/equation to correlate to actual price movement“. Both these rules are valid for channel.
Drloyd, I like your attitude!
Actually gg does not see “short bodies”, as he use line-chart he see lines. And he see only the stright line between Close 1 and Close 2. Thus some part of the movement “get lost”.
This is out of my understanding – how by the shape/or position of the line one could understand the direction the price actually is going. There should be something more to look at and compare with to understand the sentiment of the market. EURUSDD also used line-chart but he compared it with BB and stochastic…
OR… may be it looks like SS?… but it seems that gg put these lines “by eye” without complicated calculations…
Muuh,
I agree with you that we need to know the market sentiment… (though I have also no idea how :scratch:). And it should be known at the moment when the bar is closing..
(Actually the points that gg53 combined are tops/valleys but it is known much later – at least 1 bar later- when this top/valley is formed). My brain is boiling
We all automatically consider that price is on the CLOSE of the bar. That the way we “learned” and that’s the way most indicator calculate their input/output. Is that really the right way of looking at price/chart? What if there is another way? A way, that if done correctly, and compared to the CLOSE price – will tell you almost exactly where price direction “should” be. …and on top of it – it’s not just the direction – the price will soon enough go to that exact price… All of this without any indicator. Just a simple different view. Example chart will soon follow. G.
G,
is it (this bold sentense) a reason why you use LINE chart?
Mrs S
Hi everybody!
I’ve got ispired by gg53 post and would like to share my observation.
I’m looking at the direction of MAs:
most of the time MAs are pointing in one direction, but sometimes there are some bars with different direction. They are quite rare. I take them as a signal to have a closer look.
For example, if higher and lower MAs are pointing upward, and mid MA is pointing downward, I assume that during next bar the situation will be “repaired” (mid MA will follow the others MAs and will go up) and this could be achieved if a bar also goes up.
Of course the MAs that I analyse have to be on already closed bars.
Mrs sharker
The top is there..
