Here are my answers to your questions.
1- I am not a conventional swing trader all my positions are
flat at market close so you can say day trader.
in this post you quoted for CL The macro chart is a unirenko 32 with open offset 1 tick and reversal 500 ticks.
2-No matter what kind of trading style (
scalping,
Momentum,
HFT,Momentum Steep Trend, Slow-grind steep trend, Swingy trend or
range bound price action) I participate and trade all market conditions. So no specific trading style but for sure day trader as my trades are closed 30 seconds before session close.
3-Yes my entries are 100% automated but profits sometimes I manage manually looking at market
context.
4-My trading charts are not time based they are renko charts in my case unirenko of suitable brick size for different instruments in case of Cl is unirenko 4 with open offset of 1 tick and reversal 4 tick.
5-The micro chart you are referring to is 4 tick unirenko not a minute chart.Depending on the
price action for a particular instrument
how much price action can be
covered in the given snashort.the chart in the post shows two days open and two days close as well.
6-Cyan line is the control line which controls the swing size and the red and Yellow-green lines.Yes red and Yellow-green Lines are entry and exit lines. Red line is used for possible high probability
counter trend and pullbacks trades entries and exits and green line for trend entries and exits. Cyan line is a must trade line no matter what when price touches cyan line the system take the trade in the direction of trend and if candle closes below the micro swing
bias Changes direction and now cyan line moves to top and red and green lines interchange colors and now can be used for micro short bias trading for counter and trend trades.
7-The lines have no bias the background color of the chart show the micro bias the teal is long bias and purple is short bias.
The back ground color is controlled by cyan line which is certainly controlled by price swings which are based on price movement
may be in form of
standard deviation or simple price swing measured in ticks.I have about 25 different parameters in this swing indicator which help me manage my entry and exits mechanically in any market conditions and any style of trading.
8-When I say mechanical i mean my stops may vary a tick or 2 in my favor or against depending on market condition but not beyond that, as I have such lines available on my micro trading charts for tight entry and exits for any kind of trading style.
As the scope of this thread was not discussing trading methodology but just to give an idea, how indicators can help us to facilitate
our trading so I tried to substantiate my point.
I have about 5 variations of this swing indicator which help me to dictate the market my terms (my-way or highway).
Which means go my direction or take few ticks as SL and take a hike no chasing no fighting no adding to loosing trades for the sake of $ cost averaging .
I am a big proponent of law of large numbers and it has changed my life and trading style and I am following it religiously.
Some times people ask how large is actually large the answer is at least 100 trades qualify for large number concept.
Hope it helps.
