agree with you,a thing should be at its own place,right.understand your feeling and observation,just some times some peoples do play with different options ,for their sake of mind,as you know every next person is different than the other next,so different peoples feel and observe and play different way,it is normal,not a matter.thanks
It does not work satisfactorily on the renko charts - the channels are very wide (off the screen) and the stochs K&D lines are also off the screen (not within the price hugging channel as in normal TF charts).
Can this be adapted for renko? That is to show the K&D lines are between the channel closer to the renko bar price?
Thanks if you can do anything. I certainly don't want to go back to trading normal TF charts if possible.
Is this offline adaptation for renko range possible please?
It seems that the on chart oscis are quiet hyped currently. Just asking cause wanna learn.
Teamtrader, for renkos you need big periods for oscis but maybe a CCI or Bresser could make the job much better than stochastic (not much played with renkos yet, I need PA and to much infos are neglected on renko charts).
I have entered 2 of these indicators with different settings to show a more reliable entry. I generally put my 'rules' on a new template to check them over a few days so you can ignore all my writing.
The upper TF facility will not be used by me as ultimately this will be used on renko or range charts.
Hi TeamTrader, your set up looks interesting and worth study. Could you share your set up and how you trade it? I am at a stage - learning and exploring.
The on-screen indicators give the direction and when the colours match. Both the lines are stochastics and when they cross there is a higher probability that there is a direction change coming but the colours of the lines give the current direction.
Any template is only of use to a trader who understands what they are looking at, waits for a set up, that is a pattern that gives a low risk trade.
The best traders settle on a base template that gives them confidence that they do not need to change anything major and when traders have confidence in their own system, they succeed.
The best template to me is one where I can assess a low risk trade at the time, not afterwards as this is easy.
Hi TeamTrader, thank you lots for the information and advice. I agree absolutely with what you say. For some the journey is taking a little longer, may be.
Regarding your 'OnChart stochastics 3 nmc' indicator - when set on current timeframe settings, does this change colour when the current candle is completed?
I have only the colours 3 (blue) and 4 (white) of the 'color tab' showing on the illustration.
It does not repaint.
Here are comparisons to the regular (on slope coloring) :
And to signal line cross coloring :
As you can see, when you compare the on chart version with the regular version, all the colors are the same and colors are exactly the same as in the regular version of stochastic
When you are using the "on slope" coloring, as I already explained, it is not what you see on the chart that determines the slope of the stochastic, but the slope of the real (non altered to fit to chart) value of the stochastic, and in that case you can have cases when on chart the slope goes in a different direction than the direction of the real stochastic.
Criteria for the slope is always the real stochastic - on cart value is just an approximation