I did notice there is built in STARC bands. Never used them before so I need to learn what the YCOB and YCOS does and how they move. But this is a good place to start. Thanks.
I am looking at this on mobile and it doesn’t print the same as on the computer. I will take screenshots later
Another pattern question. I was looking at mnq during the rise and fall this month with and without extended hours and going through the code line by line.
I have noticed in essence the yellow/green line from your first page screenshot moves, along with the green/red zones as prices start coming down or moving up based on the “speed” in which they move.
With extended hours on 5 min chartI see the line didn’t move all day Sept 14, 2022 and I suspect it is because the gap down during cpi Sept 13, 2022 made the price fall too fast and the market had to take Sept 14,2022 to settle, hence the consolidation and choppiness but the line not move.
I happen to be up at 4 am Sept 15, 2022 EST and saw the line move down where the line now is now near the actual price candles (lack of speed due to Sept 14, 2022 chop day) so this would now be considered an overbought area. So now between the red zones and the line, those would be major resistances.
This, if the price were to go above the red zone today and the moving c3_mf_line from page 1 screenshot, along with confirmation, the red band would start wrapping upward.
On the flip side, if the line is green and oversold and the price breaks below thaf and the green zone, the green band wrapping would happen and the price may trend down.
Anything between the zones AND lines would be what happened during market sept 14,2022 NY (chop city)
Is that the gist of how this all works? If so, this will help greatly reduce the odds of being in a choppy market because those lines and zones won’t move when price doesn’t move or consensus of 5+ isn’t reached.
The lines and zones will reset during consolidation and once consensus 4+ is reached or the price starts moving beyond the zones AND the line the next trend is ready….?