One dangerous thing with this type of overlay is the scale. The scale in which price moves towards or away these lines from an indicator of another scale should not be trusted visually, in my experience.
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Extremely good point about the scaling factor and thanks for the feedback Mike! Also, compared to a line I've found a solid mountain less mesmerizing...
That said, I see this as a cleaner way to compare the dips and peaks in price with overlaid oscillators. This divergence convergence criteria BTW, is not effected by any scaling issues. Again, I'm only relating peeks and dips.
I've also noticed when the stair step drawing mode (close) is applied to a mountain (solid shape) it represents virtual easy to track peaks and dips. No confusing candlestick highs, lows or wicks in the way or miter issues from thick lines. IOW, steeper peeks and dips grow when a line is applied but not a solid stair step mountain.
I've discovered all this using Sierra Chart. Take a free trial and see for yourself. Not selling SC...
Ultimately I want to use this with my Nexgen indicators which only work on the NT platform.
Last edited by tdaman; October 30th, 2011 at 10:10 PM.