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mbtr8dr

Chart Basics and Configuration - Too Cluttered?

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Hello,

After reading How to Day Trade for a Living, and listening to classes 1-5 at BBT, I have a question concerning chart configuration.

The chart is from ThinkorSwim (ToS) and not DAS.  The attached chart (pdf format) shows EBS on 6/27/16.  I configured my chart per the book and classes.  However, I feel that it is still too cluttered.  Can you briefly review the chart and let me know what, if any, indicators need to be removed or even added.

Not sure if I posted this in the correct forum.  This is my first post with  BBT.

 

 

BBT EBS June 27 2016 5m Chart.pdf

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its not cluttered, try to memorize what horizontal lines mean per color. The graph is wide but not long. Making it long will help you have better sense of move up or down 

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1 hour ago, marcelperez said:

its not cluttered, try to memorize what horizontal lines mean per color. The graph is wide but not long. Making it long will help you have better sense of move up or down 

Thanks for the great feedback.  I was concerned it was too crowded. 

I have to squish all the charts and other windows from ToS on my small laptop screen.  Per your suggestion, I'm going to create multiple workspaces.  One of the workspaces will focus on chart display and trading buttons.  Other workspaces will focus on backtesting, news, etc.  Hopefully, that will make my charts more readable

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set each EMA a different color. you will find over the time that some of the color lines are stronger than others and also crossing colors will mean an action is going to happen.those 5 MAs you use are enough.

just for a refference see how it looks in colors. i use the same 5 indicators as you do.

BLUE is VWAP

RED is 9EMA

ORANGE is 20 EMA

GREEN is 50 SMA

GREY is 200 SMA

2075503984_TSLA-2019-12-17at16_33_35.thumb.png.91c3c4b8354a8794d5cd05f63bbfabfe.png

 

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