The Bressert Smooth Chart Type comes in a number of different forms and adjustments.
Mode 1 – All prices smoothed – OPEN, HIGH, LOW, LAST are averaged and plotted.
Mode 2 – Same as #1 above, but without Leg – (The Highs and Lows).
Note: Since the Last is also an average, the last price you see on the chart will be delayed.. But you will see a very smooth trend. I suggest to have another chart type handy to see current prices.
This chart type is excellent for catching longer term moves without getting scared out from the up and downs you normally see on the charts.
Mode 3 – We use the original open/close, then smoothed the High/Low –
Mode 4 – Same as #3 above, but without legs. – (The Highs and Lows)
This chart type will help you the smoothness, but it will show you the actual Open and Closes of each bar. When you use indicators that also use the High or Low, you will find them to be smoother on these moves as well.
Mode 5 – This is different… The OPEN will always be the Average Price on the chart and the Close will always be the actual close.
This is a nice looking and effective chart. We are showing a smooth open trend with a moving close trend. You won’t see opposite closes above or below the open with this chart.
Excellent for trading with SMA average without seeing all the messes on other charts.
From Mode 5 to unlimited Modes – We use Mode 1’s Model where we average the OPEN, HIGH, LOW, LAST, but we now give as much weight to the LAST price as you want to show.