For the record, what exactly is the topic of this thread now? There seems to be a lot of jumping around. I sure do not want to get accused of posting off topic so I thought I had better ask first. Thanking you in advance.
It does re-draw, (not re-paint, as in - change color) as it is a parabolic curve & constantly (bar by bar), recalculates itself based on the look-back period, from what I can tell. This is normal. As the price continues to go lower, the curve will be to the downside. As the price continues to go higher, the curve will be to the upside. I look for selling opportunities when price is at the top of the curve and buying opportunities when price is at the bottom of the curve. Hope this answers the question.
After all, it's what you learn AFTER you know it all, that counts!
This is a thread that is exploring.......exactly what a trader does or doesn't need to trade successfully. My original thesis was that "simple is better" and that we don't need many or perhaps any indicators to best accomplish the task. I still believe that today. For those who have followed this thread from the beginning you'll see that my chart set up has changed very little........on the surface. However, two important changes have occured. One, the elimination of the 14 HMA. This information is now imbedded in the paintbar study. The remaining 50 EMA is an intermediate moving average that helps give the the market structure. (so one squiggly line left) the other change is the addition of scalper dots....... this is a recent experiment that I have been undertaking with Sharky and the gang. so far so good. As you can see my approach differs a bit from Sharkys.(check out the attached chart) What I did was slow the chart down to a 6 range bar chart and speed the indicator up....(setting 2) I think you can see this worked out pretty well.
Anyway, I am not a moderator but........as far as I am concerned anyone who wants to weigh in with what they think is "All you Need" to trade is certainly welcome to comment.
Here's a look at todays ES chart. I personally like the 6 range bar chart. Again the faster setting on the scalper dots. Just check out the entries......(dots) you could scalp every dot or perhaps if you are a trend trader and have an aversion to countertrend set ups...just trade with the 50 EMA......blue line take the green dots.....red line take the red dots. That works too. What ever fits your style.
The following 4 users say Thank You to Jeff Castille for this post:
The 50 EMA in your attached snapshot, is not the original "EMA_Colors", which provides for "flat" (gray color) market situation. I still want to maintain this original 50 EMA. Is this OK ? Otherwise, please let me have the post that contains the new 50 EMA; or just re-post it.
How suitable is your up-to-date setup (including Sharky's project) for the following markets; YM, TF, ZN, ES, 6E, and 6B ?
Thanks Wiz...... 5 people are working on the "dots"....there has been some talk that if the dots are good enough that a business venture may present itself.(we'll see if we can perfect them or not) If we can get them to do what we want ....they'll be awesome. A very powerful tool. It has taken an enormous amount of time....I believe it will be worth it.
Good observation. The reason that I changed the type of EMA is........that I have found on markets that perform better using a faster chart (4 and 6 range bar) it works better. I never had this problem when I was using the original EMA _colors because the YM settings of 10-15 range bar were no problem. Just experiment with your chosen instrument. If it's a faster chart just use the Universal Color Moving Average instead of the EMA_Colors. I spent all weekend picking chart settings for the 4 indexes(YM,ES,TF,NQ) and (6E,GC,CL,ZN) Just keep tweaking the chart until you find the sweet spot for your style of trading. (till the chart talks to you)