5 Mode Chart Types

Modes 1 & 2

Mode 1

Mode 1 - We plot a moving average of the - OPEN, HIGH, LOW & LAST.

Mode 2

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

Mode 3 - We employed the original open/close, then smoothed the High/Low of each bar.

Mode 4

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

Mode 5

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.

Frequently Asked Questions

What happens after mode 5?

Smooth Charts will give as much weight to the LAST price as you require to show the last and close, closest to actual last price as you wish and still keep the smoothness of the chart.

Note: Mode 4 and 5 above are the actual last price and these higher modes will be required. This is for modes 1, 2 & 3 charts, where the last price is the AVERAGE last price.

Why did I add "5" if the mode was 10?​

Let’s assume you have a 7 min chart with a 12 SMA value, and you put in 10 for the mode value.

The Smooth Chart will go back 12 bars and display the average OPEN, HIGH, LOW & LAST of these bars.

Any mode value past 5 will calculate the last price into the chart equation for the actual close price.

Meaning if you use mode 6, it will add one more current close value to the chart.

If you enter a 12 SMA value, then it would add one more close and average out 13 bars JUST for the close value.

Adding in the extra mode values, then divides up the balance of the total.

Let’s say there is an input for mode 10.

This input would take the average of all 12 bars, then add in “5” of the current bar’s last value to the SUM of the previous 12 SMA Input. Then divide the total by 17 (12+5 = 17).

This is the current bar’s weighted close that you will see on the chart.

Why did I add "5" if the mode was 10?

It’s because mode 10 is a 5 count above 5.

We use 5 as the starting point because mode 5 is the last mode before we go above mode 5.

This set up is an attractive way to get the look and feel of mode 1.

There is no limit to the higher modes above 5…you can go up to 20, 30, 100, etc.

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