Indicator Panel Advanced Overlay Parameter Hidden Feature

Kevo

See this post from @BobS for reference: Can you get Bollinger Bands to show with Area style when you are using it as an indicator?

Check out this neat hidden secret feature that I just learned about regarding Indicator Panel Advanced Overlay Parameters. Looking at color coded Moving Averages helps me keep things straight:



Add ":color" to the end of the first parameter, where "color" is any of the available colors.

You can change the color of some, but not all, of the Indicator Panel Advanced Overlays using this method. There are no drop down options available to do this.



This does not work for all Advanced Option Overlays. It seems to work only on those that have 1 parameter. Since Bollinger Bands have 2 parameters, it does not seem to work, unless someone experiments and figures out a way.

markd

Well, that is very cool. Just got a chance to try it out. I color-code time frames, so that's a useful tip. Thanks!

dare

Neat Kevo. Thanks for sharing.

lmkwin

Probably unnoticed and unused by most, something that may be of interest is Price Labels. Price Labels is an Overlay Option in the Advanced Indicator Settings. Price Labels show the inflection point values. You can set Price Labels on your indicators to give you an idea what values were showing when the peaks and valleys occurred to give you some historical indication. "If the PPO normally starts peaking around 7 %, where are we now in comparison?". I find this useful.

Price Labels can also help in seeing divergences as they clearly label the peaks to peaks and valleys to valleys that are used for such analysis. I don't use for this purpose, but you can.

Another overlooked (judging from the public chartlists) overlay is the Price Channel. The Price Channel overlay will trace out the highs and lows for the indicator so you can, in many instances, clearly see when there is a breakout in the time period.

markd

Regarding price channels:

if you pair price channels with Fast Stochcastics, you can scan for the current location of price within its channel. So for instance Upper Price Chan(20) and Fast %K(20,1). Fast %K expresses the current price's location as a per cent of high to low range (the price channels) over the last 20 (or whatever) days. So a reading below 20 would indicate price is in the lowest 20 per cent of the last x days range.

This can be helpful for counter trend entry set ups. For instance, if the longer term trend is turning up or rising and you scan for

and [Fast %K(20,1) < 20]

you should get down legs in a longer term up trend. Since most down legs in a good trend won't much exceed 20 days, the odds are pretty good a reversal is near.

https://schrts.co/hfIIiWXV

In the example, Amazon is in a down leg just after the green MA (63) has turned up. Fast K 20 (pink) is below 20.

Also note that !GTSPX20 (red, at the bottom) has also crossed below 20. This indicator tracks what per cent of sp500 issues are trading below their 20 day MA. When the trend is up, a reading below 20 is often a buy.

Of course, stronger stocks may not get a 20 day down trend, so you could try different channel/Fast K lengths, e.g. 10, 12, 15. There is no corresponding !GTSPX.. indicator for those lengths.

Sofearnot

I use the Price Labels when it comes time to do tax preparation and post-hoc analysis

Sofearnot

Bill O'Neil always Suggested keeping a Journal of trades and Entries.