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I think it's pretty neutral, and allows me to just focus on the price movement. I only use color to annotate charts, after trading.
"The primary thing required to obtain what you want from life, is simply the will to pursue it, and the faith to believe it is possible." - Author Unknown
"The ability to maintain discipline and stick to the rules is the hallmark of the experienced successful trader" - Curtis Faith
I never paid much attention to color until moving from NT (default white background) to MC (default black background) and noticed I preferred the black background for some reason. Speculate it's as others have said--simply easier on the eyes.
I've always preferred green and red for candles probably because I like to scalp and those colors seem to amplify the effect of price rate of change (i.e., tend to get the blood flowing faster). However as others have suggested it takes a certain amount of acquired self control not to jump in just because one's heart suddenly starts pounding :-/
Looking at charts in this thread with monotone candles it seems they encourage one to sit back and ponder, perhaps suited to making longer term trading decisions.
Overall agree a color scheme probably says something about trading style if not one's personality, [MENTION=3170]ThatManFromTexas[/MENTION]' spectacular scheme especially--just not clear WHAT it's saying
Years ago I spent one summer tutoring blind students in math, including calculus & geometry. This thread makes me wonder what trading would be like if cues were e.g. audio only (like verbal chess) assuming such cues could be devised.
I'm not influenced with my decision-making by the choice of colours on my charts.
I do find it important to be very consistent with what colour set up and indicators I use. I like to make fast decisions and read the chart instinctively. This is enhanced by infrequent changes.
I tend to keep to a chart "look" and only change it if I really need to. That doesn't happen often as I find "less is more" profitable and don't have a lot on my charts so I can focus on price.
I do use green and red candles on a black background. I find that the direction price is travelling screams out at me when using those colours. Those colours have worked for me, I'm used to them and can interpret them at speed.
thanks a lot for sharing this touughts here. I am using dark khaki backround with red and light green candles. Didnt have problem till now. I have tried black backround and this wasnt working for me to dark to pesimistic color Definitely this is somtething to think about. Big thanks ! )
I've not read the whole thread, so apologise if this has cropped up.
I have always been amazed there are no 3-D graphing platforms/indicators. Rendering information in 3D rather than 2D would open up a new world of interpretation.
For example if your view point was looking at the current (3D bar) as it was building, and your horizon was 'back in time' then moving averages would appear as exponential moving averages because the most recent (i.e. closest) moves would be perceived as larger than those more distant in the time series. Difficult concept to explain in words, but hopefully I'm conveying it?
I also think that 3D charts could offer more immersive experiences, akin to flight simulators or gaming graphics. If you could 'feel' market information in more ways, this in itself could open up different interpretations and reactions. Not saying that would be better, but interesting to explore.
I even had the idea that it would be possible to code market data as an input to a simple computer game. Trading instructions being generated as a result of trying to win the game. Visually the game would not look or feel at all like a market chart. It could be strategy based for long-term trades or reactive for scalping. Purely a thought experiment - but some of those hedge funds do get up to some strange stuff in search of an edge!
Ive thought of the same thing a since i started trading but am not that proficient with coding. I kind of envisioned something like big blocks where the user is looking forward across the tops of the blocks and or could rotate or move the camera angle. you could obviously put a pretty cool 3d environment for the background. I've asked before if a chart could be coded so it could be flipped in either the x or y axis but the response was pretty much a no go for NT7. Anyways, Software like you mentioned above would probably be pretty revolutionary and I'd certainly buy it.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
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Reading Denise Shull's book and she mentioned it. I changed my up-bars to green and my down bars to blue.
One LPT. You can use coolors.co to get more nuanced complementary colors on your charts so that it feels like a well put together website instead of a bunch of contrasting colors mashed together
Interesting resource is ColorPsychology dot org.
I started thinking about color psychology, not only on my charts, but also in my trading room.
The colours in your wider environment can also affect your mindset.
