Price Action And Charting Colors

in LeoFinance2 years ago


screenshot

I change the colors to match the direction I'm looking to trade. I also change the two different levels styles. It's good to identify what is what in my opinion rather than assuming. I also changed the signals to match color wise but I only have the "Mild" signal on. You'll see the buy/sell signal on my screenshot but for some reason you can't change colors or take it off. Not that deep but something to note.

Especially if your trading on a lower timeframe. The lower levels respect less but if all your lines look the same then you don't know what is gonna hold. Versus I expect certain levels(lower levels) to break or hold depending on the timeframe, trend, and price action.

In addition, I say simplicity is key to keep your emotions in check and to not have other factors (indicators) clouding your decision making ability. Plus whenever you have all the stuff on the screen I'm surprised people can read it.

All the updates are amazing but everyone wants to continue adding this or that. Trying to make some super indicator to do all the work. Trading style requires simple technical analysis. Once you learn technical analysis you can trade anything. Even EzAlgo Levels are basically technical analysis. Its showing you the Support and Resistance. Price Action is King. That's why you don't have to add anything. Of course you can if you want to. Just up to preference. But the longer you trade I'm willing to bet your charts slowly have less indicators.

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