Jeff, Yes. TripleEMA is coloring the bars. The SMI2_MultiColorWizMod paints the Cyan / Magenta arrows (which, after looking at it for awhile, seem redundant). I may play around with the SMI2 code tonight & color the bars based on the SMIUP / SMIDOWN (blue/red) oscillator line), which tends to trend so that you don't get so many red/blue atlernating price bars. I'm using the d9ParticleOscillator to paint the 'zero line' DodgerBlue/Red "dots" in panel 2, but they pretty much match up with your TripleEMA colors, so I'm not sure they're necessary, either. Like I said, your setup is simple - straightforward - elegant. You may have convinced me to abandon my oscillators! Since I just saw this post of yours today, I have not traded with it yet. I'll give it a SIM try tomorrow & see where might be good places to put stops, although I would imagine a good place for 'catastrophic' stops would be at the prior swing hi/ swing low & then as Yroyal says, just stay 'in the market' and switch direction based on your TripleEMA dots. Tried the Sharkfin, but didn't see that it enhanced your setup. I may play around with it some more.
P.S. I switched to SbSRenko because it 'smooths' out the rough edges of the oscillators more than other bar types I have tried.
After all, it's what you learn AFTER you know it all, that counts!
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The one thing that I think an oscillator is good for is spotting divergence......that's about it. Then there are those days when divergence doesn't seem to mean a thing.....like on a strong trending day. I just got to the point where I had to give them up. I went through MACD, 3/10 oscillator, squeeze, CCI,you name it I tried it. Even if they track price exactly they don't tell me anything that price isn't already telling me. That's why I like a good paintbar study. Then just one good lagging indicator.....some sort of moving average just to keep me oriented.....EMA, Linear Regression, Triple EMA....it doesn't matter that much which one....just something to keep you on the right side of the market. Not too fast not too slow. The "Three Bears Moving Average"......just right.
I did play around with the d9 Particle Oscillator v2 over the weekend......this looks like one fine oscillator I must say. I almost used it today but I could not bring myself to do it.......I'd be watching the oscillator instead of price and that is a distraction for me....and once again.....it wasn't telling me anything that the price wasn't already telling me so......
I am intrigued by the sbs renko though......I am not sure I fully understand them. They sure clean up a chart though. Is there somewhere that I can go a read up on these?
Let me know what your research reveals on the sharkfin (2). I have been using it for entries and it worked very well with the famous shark attack dots. The fast setting on a slow chart works real well.
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just curious whether there were any work done on counting the pace of the tape in terms of converting the T&S window into a 3 colored bar graph, to show the speed of the tape, not necessarily the number of ticks, or size of the trade or volume?
there continues to be a healthy discussion (read. argument) over the value of the speed of the tape verses the buy/sell orders on the tape verses just watching the cascading pattern on the tape
as a final decision making factor showing participation levels in the market
any downloads that help in configuring T&S differently? (whether on ninja forums, vip section or otherwise)