The paintbar is like a second-cousin to the variants of ttmsqueeze that you can find all over the net. The two main things the paintbar tries to identify are:
Signs that we are coming out of a contraction phase. Bollinger Bands must be narrow but widening. The Choppiness Index (an estimation of the [...]
I wanted to show you how I’ve been selecting trades the last few weeks. It’s a multi-step process. The paintbars alert me to possible entries on my lowest level charts. Then, if I like what I see, I go from the top down and make sure all my higher-level charts agree. [...]
I created Quotetracker paintbars for the HMA/PPO/SMI set up I blogged about yesterday. The setup waits for alignment of the HMA, PPO and SMI in the same direction. The paintbars are added to allow better visual identification. You have to wait for this setup to develop, so you will not get whipped sawed on HMA [...]
As we covered in a previous post, QuoteTracker is a powerful charting tool. Paintbars allow you to put custom graphics on your charts and even fire alerts when certain conditions are met. It’s not designed to be a dedicated scanning tool like Trade Ideas, but it can be used to go through a [...]
I’ve been putting just about everything that needs measurement or arithmetic into paintbars on QuoteTracker. I’m pretty excited about making use of them next week. Most of them won’t mean anything to you, but I did make one that tries to help me spot the “dummy”-style trade entry. I thought that might [...]
A couple articles in the February 2007 TAS&C caught me eye. One of them talked about a method to attempt to predict a simple moving average crossover the bar before it happens. Basically, they figure out what the price would have to be in the next bar, in order to make the MAs [...]
QuoteTracker is an outstanding charting program that I use. It’s got a freeware version with a few limitations and ads, and the full version is free to holders of a funded ($2k) TD Ameritrade account (which I also have). Without that, it’s only $7/month or $60/year. QT is a charting package only, [...]