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Coloring your S/R lines & studies

  • #1
  • First Post: Mar 11, 2013 6:58pm Mar 11, 2013 6:58pm
What's your favorite way to color your chart?

I keep a nearly indicator free chart.
I use red/green candlesticks or default green with 1 or 2 mas, on a grey or black chart.

BUT I draw a lot of s/r and trendlines as well as boxes for zones.


I am trying to simplify as I use too many random colors, I end up using what ever.
Going with simplest is easiest to recall in stress and when groggy. Thus I want to find a simple routine to minimize errors and doubling work.

Any ideas would be appreciated.

Thinking something like
Light Blue(turquoise) for potential but not notable S/R or reaction could be boxes or horizontal s/r
Blue(royal) for 4/D/W zone, s/r
Dark Blue for Short Short(4/D) term Trade zone
Pink for Weekly Trade Zone
  • #2
  • Mar 12, 2013 1:02am Mar 12, 2013 1:02am
try red for all the resistance zones-line.
Green for the support lines.

Rising trendlines yellow and descending trend lines purple.
Weekly trade zones- a light gray shade to demarcate the zone
For daily trade zone torquise
maintain the red and green candles.
these may help.
  • #3
  • Mar 12, 2013 7:19am Mar 12, 2013 7:19am
Save all analysis in the following format: XxxYyyyymmdd where XxxYyy is the pair and save it as a template so you can call it up any time. The yymmdd format will let your computer sort the dates in a logical order for you.

Put a red line above and below the area which you are analysing. Then you can fill in S/R lines in this area in another colour, or any other analysis and comment. That way, if you pull up your work a couple of month later, the lines are still valid if the price is still in the red line boundaries.
Gone to a better place
  • #4
  • Mar 12, 2013 6:39pm Mar 12, 2013 6:39pm
Quoting Danny Maina
try red for all the resistance zones-line.
[size=3]Green for the support lines.[size=3]

[size=3]Rising trendlines yellow and descending trend lines purple.[size=3]
[size=3]Weekly trade zones- a light gray shade to demarcate the zone [size=3][size=3]
[size=3][font=Book Antiqua][size=3]For daily...

Thanks...
  • #5
  • Mar 12, 2013 6:40pm Mar 12, 2013 6:40pm
Quoting smikester
Save all analysis in the following format: XxxYyyyymmdd where XxxYyy is the pair and save it as a template so you can call it up any time. The yymmdd format will let your computer sort the dates in a logical order for you.

Put a red line above and below the area which you are analysing. Then you can fill in S/R lines in this area in another colour, or any other analysis and comment. That way, if you pull up your work a couple of month later, the lines are still valid if the price is still in the red line boundaries.
Thank you for the suggestion, is this platform dependant?
  • #6
  • Last Post: Mar 13, 2013 2:33am Mar 13, 2013 2:33am
Quoting peregrine
Thank you for the suggestion, is this platform dependant?

I was referring to MT4 of course, which is what I use for analysis, but the method can be used in varying ways on other platforms. Otherwise, saving screen shots is the way to go, I suppose.

I know several traders who use MT4 (demo) for this reason but trade off a different platform.

Navy blue and pink are my favourite colours, by the way. I also like gold (for candlesticks), and purple, for my smoking jacket.
Gone to a better place
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