Michael Petryni
1 min readMar 17, 2023

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All these colors on the chart, and squiggly lines are just things I like to play with. They are not needed to execute the strategy (see my response to Craig Murdoch below). I try to believe they are useful but mostly they are just fun for me to play with.

Since, I change these charts to some degree or another quite often I’m hesitant to decode what’s on it because none of it is carved in stone.

But let’s acknowledge right off, the color coding in the classic TradeStation (verson 9.5) is fantastic in showing what any trader wants to see for himself in a trade.

On this chart:

The brown dots are each time the call made a new high for the day.

The yellow and cyan price colors price action is a moving average color-coded — yellow up bars, cyan down bars.

The crosses on the bottom of the chart is a 20-bar CCI — dark green for overbought, red for oversold. Those colors correspond to the same color overlaid on the price action above.

The thin yellow line is market by the yellow flag on the left axis of the chart — it is the difference, per $1K traded, between the Call’s open and the Call’s close.

The thin white line is the rise and fall of the profit for each minute of the day and terminates in the white flag on the chart’s upper right axis at the close— $3,132 today for each $1Ktraded,

Hell of a great strategy on a hell of a great day.

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Michael Petryni
Michael Petryni

Written by Michael Petryni

Journalist, film critic, screenwriter, proprietary trader seeking simplicity in trading. https://thegodoftrading.medium.com/subscribe

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