Mode 1 - We plot a moving average of the - OPEN, HIGH, LOW & LAST.
Mode 2 - Is the same as #1 above, but without Legs - (The Highs and Lows).
Note: Because the Last is also an average, the last price you see on the chart will also be delayed. But you will notice a rather smooth trend. I suggest having standard chart nearby to see current prices.
Add CT #22 Indicator which plots the last value line on the chart. This chart type is excellent for boarding longer-term movements without becoming frightened out from the up and downs you usually see on regular charts.
Modes 3 & 4
Mode 3 - We employed the original open/close, then smoothed the High/Low of each bar.
Mode 4 - Similar to #3 above, but without legs. - (The Highs and Lows)
This chart type helps you see the smoothness. However, it will show you the genuine Open and Closes for each bar. When you employ indicators that also use the High or Low, you will find them to be smoother as well.
Mode 5 - This mode is different. The OPEN will continually be the average price on the chart, and the close will perpetually be the real close.
Mode 5 is a nice looking and useful chart. It is displaying a smooth open trend with an Actual changing CLOSE Price. You won't see opposing closes above or below the open with this chart. Great for trading with SMA averages without observing all the confusions on other charts. The chart modes are unlimited.
After Mode 5, we use the Mode 1 model, the average of the OPEN, HIGH, LOW, LAST. However, now you can give as much weight to the LAST PRICE as you want to display by increasing the value above 5 to unlimited.