Shadow Bar entries different from Equivalent Diagnostic bar entries, what to do?


#4

Peter - one clarification on the similar line…

With the shadow continuum bars - when we enter 3 ticks above/below of the high/low of the bar - meaning - above or below of the “shadow” or above/below of the actual high/low of the inside candle?.. With diagnostics bar - its solid bar and there is no such question… but with shadow continuum bar - i got this doubt… though i assume it is above/below of the shadow!.. but not sure can you pls. confirm the same…

Thanks, Vad


#5

Right on as usual Peter :slight_smile:


#6

Your not going to have this issue. If you think its an issue please post a screenshot showing what you mean. But we are buying breakouts of highs or selling breakouts of lows. The shadow is on the opposite side and wont have any impact on this.


#7

Your entries are always going to be based off of the actual high/low of the bar. The shadow is there for aesthetics. Many of us were accustomed to how the bars painted on the diagnostic bars so the shadow bars give us a similar look. The bar range indicator is functional on the shadow bars, so you can use that to determine where the high/low of the bar is if you are having difficulty visually locating it through the shadow. If I am using shadow bars (which I do on occasion) I always use the bar range indicator to help me determine where my next bar is going to form so that I can place my working order 3 ticks above/below it using that. Here is a screen grab showing the indicator and the shadow settings I use:

I hope you found this helpful, awesome question.

Peter


#8

yes!.. i just realized that now… the shadow is opposite direction which we will not use anyway to take position… great!.. thanks darrell.


#9

Peter - appreciate your detailed explanation… thank you so much… it is very helpful…

Btw, for the izoness (ICE and izone indicators), can we use diagnostics bars also or we must use shadow continuum bar only??..


#10

You’re welcome Vad. Glad to help.

You can use the diagnostic bars with the izones and ICE, just keep in mind the Diagnostic bars will be phased out at some point in the future. It might be useful for you to at least demo the shadow or continuum bars until you can get comfortable using them.

Peter


#11

@darrell -

questions are in the chart - this is what i mentioned in my above query?..

Thanks, Vad


#12

Peter - i have this settings (auto with size 1), but i dont see your kind of chart?..

http://content.screencast.com/users/chilll/folders/Jing/media/fe41216f-2048-4d19-a67a-1f3ac6f3b719/2015-10-13_0552.png


#13

@darrell and Peter,

another chart to describe my confusion?!.. :frowning:

this is kind of misleading… bcos if the candle is what showing the actual price action, why the bar’s shadow is painted above or below, bcos visually it conveys wrong high or low… - i 'm sure i 'm really missing big thing here… but this seems to be more accurate and new bar style acc. to darrell in the video… but i just didnt get it even after i watched video again… great i you can explain with an example of actual candle’s ohlc and shadow’s ohlc - what is the difference and why and which one we should focus on?..

appreciate your help!..


#14

One more clarification…


#15

Vad

Looking at each of your post above I fear you may not have a solid grasp on the izone sharpshooter system and that is why you are experiencing some of the confusion. I have been there myself, so that isn’t a bad thing. I would recommend that you revisit the training by clicking on this link https://forum.apexinvesting.com/t/izone-sharpshooter-set-up-and-rules/4415 . This will go over setting up the chart so that you have a full understanding of what each indicator does and how to use them. It will also go over entry and exit rules. For me knowing when to exit a trade is just as important as knowing when to enter. Think of it as you are about to embark on journey, you have your starting point but do you know your destination…in trading you should always be able to answer yes to that question. Once you have reviewed the training video’s come back here and we can revisit your questions. My guess is you will be able to answer them yourself, but I will be more than happy to clear any remaining questions at that point with you.

Good luck my friend.

Peter


#16

Peter - thanks for the reply… actually i have the confusion on the concept behind the bars when i moved from diag to shadow… infact when i was using diag bar, i did not have this, bcos i didnt really bother about how it is formed/closed etc as long as i simply follow the recommended settings… all i did care was when to enter and exit and how to find that point (3 ticks above/below of the high/low of so and so bar based on the system chooses)… eventually i was going to dig deeper into this as i 'm basically a technical person curious to know how it works… but to start with i purposefully limit myself as a “user” of the tool rather than how it is built and logic behind it etc… but when i moved to shadow bar , i came across the actual bar’s high/low and the shadow’s high/low…

now after i went thru the study section of diag and shadow bars - i understand the shadow is nothing but to mimic the visual appearance of diag bar (smoothing effect) as ppl are used to that all along… and also i see the "true ohlc of the bar in the shadow bar which is the actual whereas in case of diag bar the open is not real and since the open is not real, we cant see the price movement within the bar, though we have HLC…

having this understanding, i believe shadow bar without shadow is more visual reflection of the price action and i personally choose shadow off.

btw, i 'm ok with izone ss system rules/entry/exit etc… and using the _izoness template mentioned in the video… however i couldnt figure out the extra ‘line’ (other than trend catcher line, trend flip line, mvp triangle line)… so appreciate if you could clarify on this…

questions about bars are all fine :slight_smile:

thanks for your kind words and encouragement…

thanks, vad


#17

I believe those are Trend Catcher lines … See See Section 05. in TC indicator. I believe they get painted at the same time a Confirmation arrow appears and paints a line the same color as the confirmation direction. If the Pending arrow is alone & never gets confirmed, then it paints a cyan color. In the TC system they could be used as a potential entry point once the pending arrow is confirmed since the line is 1 tick above/below the pending arrow. I don’t think there is a setting to remove them and they are just part of the arrows. They aren’t used for any of the most current systems (SS/Izone, Binary Hunter, APEX, etc), so my advice would be to ignore them since the only way to remove them is to remove the TC indicator.


#18

Vad,

Glad to hear that!

With regard to those lines you mentioned in your question Bayport_bob is correct. No significance to those lines other than to show you the price at which the confirmation arrow is painted once you get a pending signal. They can be ignored.

Peter


#19

that would not be an entry on the long - if it where it would be 3 ticks above the high of the price action

i dont know i dont compare continuums to diagnostic bars. being a downclose the bar would “red” yes the trend confirm indicator though keeps the painting of it green.


#20

Not sure how its impacting you or confusing. This is a continuum bar. Why are you worried about the shadow?

http://content.screencast.com/users/chilll/folders/Jing/media/fe41216f-2048-4d19-a67a-1f3ac6f3b719/2015-10-13_0552.png


#21

not sure why your looking at that bars high. The entry would be 3 ticks above the high of the previous bar. Though you would not be entering as your in a sell zone.

Entries are above the high and below the low of the bar (they have nothing to do with the shadow.)


#22

Those are lines that trend catcher plots you are free to make them Transparent in the TC settings.

They derive from the old TC where the lin is plotted based on the pending TC as cyan and changes color when broken.


#23

The issue is your confusing shadow bars with continuum bars. Shadow bars do not have time as part of the equation Continuums do.