This is an interesting study. The indicator shown is the range between the Highest High and Lowest Low of the last 6 bars on the 5 Minute chart, or the range for the last 30 Minutes. I have each 30 Minute interval color coded. For today at least, when one 30-minute interval traded in a narrow range, the next 30-minute interval saw an increase in range. The cycle then repeated except for the lunchtime period. I will continue to watch this.
Charles
INTERESTING ROTATIONS ON THE 30 MINUTE CHART. I LIKE IT! KEEP UP THE GOOD WORK CHARLES! BEST, SSK
ReplyDeleteHi Steve,
ReplyDeleteThe 30-minute themes are interesting. I had heard that Joe Ross switched to using 30-minute charts for trading, and Martin Schwartz in his writings mentioned how the market changes at the 30-minute bell. For some time, I had a hard time seeing opportunities in the 30-minute time frame, especailly since I have been more of a type of scalper. But I am trying to switch to longer term holdings, and I am starting to see the opportunities in 30 minute trends. I think looking at the 30-minute intervals on a 5-minute chart helps.
Charles
YES, THAT IS WHAT I LIKE TO DO. MY TICK CHART HAS VERTICAL GRID LINES AT 30 MINUTE INTERVALS SO THAT I CAN GAUGE TICK PRESSURE OVER THAT PERIOD. I HAVE AN EXAMPLE IN THE SNIPPETS FROM LAST NIGHT. ALSO MY PROFILE CHART IS A 30 MINUTE AS ARE YOURS. SSK
ReplyDelete