There are 4 candles which create 6 levels.
3 levels are found in Distribution Ranges. The other 3 found in Accumulation ranges.
A Range is 2 or more consecutive candles of the same color.
The first distribution candle in the range is referred to as the "BackSide" candle. This is because is it behind the FrontSide candle.
We mark the top of this candle (wick or body) with the horizontal ray tool,
color it based on the timeframe color code, label it BS for BackSide,
select the line type then organize it's visibility based on timeframe to keep chart scrolling neat. *part of mental analysis and have a clean chart, clean mind, clean desk while in the zone.
The last distribution candle in a range is the "FrontSide" candle. It contains the last two levels. We mark the top of the candle (wick or body) with the horizontal ray tool, label it FS for FrontSide, color it based on the timeframe color code, select the line type and timeframe visibility.
The SwingLow is marked with a horizontal ray tool on the bottom of the FrontSide candle. Mark the wick, not the body. These levels I only mark with solid lines because the represent the boundary of the range.
Once price gets inside a range, it likes to bounce inside of it, testing its fractal ranges on other timeframes. Sometimes we'll see a 4hr level bounce to a 4hr level. Othertime's price stops after a 4hr level at 1hr level (plus 1, minus 1 theory) maybe we'll see it this month.
Happy September
3 levels are found in Distribution Ranges. The other 3 found in Accumulation ranges.
A Range is 2 or more consecutive candles of the same color.
The first distribution candle in the range is referred to as the "BackSide" candle. This is because is it behind the FrontSide candle.
We mark the top of this candle (wick or body) with the horizontal ray tool,
color it based on the timeframe color code, label it BS for BackSide,
select the line type then organize it's visibility based on timeframe to keep chart scrolling neat. *part of mental analysis and have a clean chart, clean mind, clean desk while in the zone.
The last distribution candle in a range is the "FrontSide" candle. It contains the last two levels. We mark the top of the candle (wick or body) with the horizontal ray tool, label it FS for FrontSide, color it based on the timeframe color code, select the line type and timeframe visibility.
The SwingLow is marked with a horizontal ray tool on the bottom of the FrontSide candle. Mark the wick, not the body. These levels I only mark with solid lines because the represent the boundary of the range.
Once price gets inside a range, it likes to bounce inside of it, testing its fractal ranges on other timeframes. Sometimes we'll see a 4hr level bounce to a 4hr level. Othertime's price stops after a 4hr level at 1hr level (plus 1, minus 1 theory) maybe we'll see it this month.
Happy September
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.