My charts (and yours too........)
- Thread starter babukraman
- Start date
- Tags inv hns sffp wipro
Would you mind explaining what these colors of candles signifies, coz there are three colors so bit curious 
Had me confused initially too.. Metastock has the usual Red [SOLID] / Green [EMPTY] for -ve and +ve candles respectively, but in addition has the following (their invention, i guess) :
[SOLID] but green = -ve day that closed ABOVE the close of the previous day
[EMPTY] but red = +ve day that closed BELOW the close of the previous day
I used JASC Paint Shop Pro (PSP).
1. Copied the Metastock chart and pasted to PSP
2. Loaded a few days intraday onto FCharts and took a screencap (15 mins).
3. Pasted the Fcharts capture OVER the Metastock Chart as a new Layer.
4. Set Fcharts layer transparency to about 45% (so you can see 'through' it)
5. Resized the Fcharts layer, one axis at a time to scale them right.
5. "Merged" the layers as png does not support layers.
Essently, Add layer, set transparency, rescale, merge.
Was just checking to see if the Green Line held a valid support, or was it something else.
1. Copied the Metastock chart and pasted to PSP
2. Loaded a few days intraday onto FCharts and took a screencap (15 mins).
3. Pasted the Fcharts capture OVER the Metastock Chart as a new Layer.
4. Set Fcharts layer transparency to about 45% (so you can see 'through' it)
5. Resized the Fcharts layer, one axis at a time to scale them right.
5. "Merged" the layers as png does not support layers.
Essently, Add layer, set transparency, rescale, merge.
Was just checking to see if the Green Line held a valid support, or was it something else.
Nifty chart...Just showing some pattern forming..take action as u think...let me know if u find it helpful then will try to do as n when possible.
Thanks for nice "how to overlay diff. charts" method. Then, another request!
Even though, it's a little late (by a day or two) now, may I request you to give a EW theory for this pattern please? It looks like a contracting triangle in EW parlance. I do understand that you've already posted an overlay of 15min on daily. Not in a hurry; take your own time, please!
Cheers!
Babu Kothandaraman
By the way, I would love to have some one who is interested in Volume Spread Analysis (VSA) or Volume Price Analysis (VPA) to post a chart or two here so that we'll get to see another dimension of TA in this thread itself. Even though, I do, most of the times, mention about Volume on my views, it's just not VSA. VSA incorporates many things like upthrust, test, selling or buying climax, accumulation and distribution, smart money, professional money, market makers, no demand day, signs of strength and wekaness, etc.,
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Hi, Babu,
Contracting triangles can form out of many things, but cant make out the wave count here. So, in such cases i just go with trendlines.
VSA would be good to study. Will pick it post a bit of work in need to finish on some scanning thing. VSA seems yummy to my tastebuds.
-RnE
One qn about trendlines, just to get an opinion... is a trendline valid once its breached ?
Just want to know what eveyone feels on the issue, i think emperically and logically i have the answer but whats your point of view ?
[Please keep in mind the answers to "What exactly is a trendline?" and "What validates a trendline?" when answering the above]
Thanks.
Contracting triangles can form out of many things, but cant make out the wave count here. So, in such cases i just go with trendlines.
VSA would be good to study. Will pick it post a bit of work in need to finish on some scanning thing. VSA seems yummy to my tastebuds.
-RnE
One qn about trendlines, just to get an opinion... is a trendline valid once its breached ?
Just want to know what eveyone feels on the issue, i think emperically and logically i have the answer but whats your point of view ?
[Please keep in mind the answers to "What exactly is a trendline?" and "What validates a trendline?" when answering the above]
Thanks.
RnE,
Well the text book says that breaching of trendline is permissible on intraday level and not on EOD level. If you were to believe what I have learnt, then here are my observations,
a) Trendlines is actually over stated and wrongly interpreted. Anything which repeatedly breaches a trendline and still makes a new swing high consistently should be considered.
b) Even if a trend line is breached, it usually signifies momentum slowing down and does not signify prices collapsing. Trend lines represent pace of movement. Breaching of trend line does not necessarily represent markets going down. It just represents slowness in pace of trend, which in the present market scenario seems more possible.
c) Trendlines and Visualization - Once a trendline is broken, one must always visualize new trendlines and plot it on the chart (look above). If prices begin to obey any one of them (from 40 degree to 20 degree), then be long. Just remember pace has slowed down and hence returns will be slowly attained.
Hope this helps.
Tc
Well the text book says that breaching of trendline is permissible on intraday level and not on EOD level. If you were to believe what I have learnt, then here are my observations,
a) Trendlines is actually over stated and wrongly interpreted. Anything which repeatedly breaches a trendline and still makes a new swing high consistently should be considered.
b) Even if a trend line is breached, it usually signifies momentum slowing down and does not signify prices collapsing. Trend lines represent pace of movement. Breaching of trend line does not necessarily represent markets going down. It just represents slowness in pace of trend, which in the present market scenario seems more possible.
c) Trendlines and Visualization - Once a trendline is broken, one must always visualize new trendlines and plot it on the chart (look above). If prices begin to obey any one of them (from 40 degree to 20 degree), then be long. Just remember pace has slowed down and hence returns will be slowly attained.
Hope this helps.
Tc
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