All charting platforms come with a lot of indicators, much less Paint Bar studies. And most of them function as “Show Me”, such as “Day of Week”, “Expiration”, “First Bar of Week”, etc. In my humble opinion, Paint Bar Study is way under appreciated. They say the best indicator is price action. If you have a good Paint Bar study, you add more information on the candle sticks, then all you need is one or two good indicators in the sub-graphs. It will help you make the right trading decision a lot faster, as you will probably be focusing on the price most of the time anyway, and it will save you a lot of screen “real estate” space, without having to clutter your chart with many more lagging indicators. Look at this CL chart below. Regardless the volatile market condition, our paint bar did an excellent job. Buy blue and sell red. Seriously, how much easier can it be? More importantly, the PB_Direction has this unique yellow bar, which appears in REAL TIME (and never repaint once a bar is closed) and often right at the market’s turning point. It is simply incredible.
Get PaintBarFactory – Indicators Package (Oct 2012) or the other courses from the same one of these categories: Software, Trading, Indicators, Package, PaintBarFactory, 2012 for free on Course Sharing Network.
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