Smooth Charts are a moving average of the Open, High, Low and Last Price.
What do we look for?
We found that if the last price line is above the Smooth Chart's current bar, the market is considered bullish. Meaning, on average, the previous price is above all the rest, market up!
The reverse for bearish, the last price is below the current bar.
If you would also like to see this chart in action, you would follow these steps.
How to create a chart that shows this setup.
Load a Smooth Minute Chart from Data Series. The Smooth Minute chart will be in the drop-down menu.
Set the chart style to Line on Close.
Add the Last Price Indicator from Alpha Hunters indicator Folder.
The chart should look like this chart below when you are done
Displayed on Market Pulse -
On Market Pulse, we show these preset setting values on 15 different time frames in the first column.
Market Pulse plots red if negative and green if positive.
The yellow color means it is 1 point on either side of the zero last price line.
Futures, Options on Futures and Forex trading involves a substantial degree of risk of loss and is not suitable for all individuals. An investor could lose the entire investment or, in some cases, more than the initial investment. Past performance is not necessarily indicative of future results.