Yup, you got it now. The open is the line in sand to trigger off of, one way or the other, and it may be the only indicator that does not move all day.

For the record, let me say the stop loss for me, the one I rotely record in my spread sheet for six or so months to make sure I'm not cherry picking, is a new low of the day.

But there are many other possible stops depending on a individual trader's risk tolerance. The 20% you mention is fine. The Open okay, especially when there is a trending day but otherwise there are a lot of whipsaws at the open. Trailing stops have driven me crazy. They always seem to get hit taking one out of trade just before it goes to the moon. Same with breakeven stops.

I can see your confusion about the traditional candle stick charts. I use those but every so often I switch charting options simply, to be honest, because I get bored looking at any one display. What matters is the strategy, not the chart format.

I went out to Google images and took a gander at some Trading View charts. Impressive. But I read one has to have an add-on to automate the strategies at Trading View. Everyone says that works but TradeStation has it built in (along with the color-coding I like).

You mentioned "Too Simple".

Too simple that works is what I have been pursuing in the market all my trading life. When it does work, it seems no one can believe it, which what my most viewed and most read post on Medium is about.