Crayons Overview
There are numerous ways that people may use the same indicator, discretion and personal preference is key. The methods showcased are simply an introduction, but are not at all the only or even the “best” way to utilize the trading suite.
Trading is not a race to the finish line, so find what works best for you personally. Crayons is simply a tool - one of many, to help increase your profitability, and ultimately getting you to the finish line - having your portfolio and equity curve where you would like it to be.
Crayons has been worked on and updated continually since 2017 - it’s color coding approach follows in the footsteps of the trading legends that pioneered the original discretional trend following systems.
The script is designed to give high probability trade opportunities, and help traders to analyze charts in a simple and intuitive manner, by using color coding to both compress and express information. There are two major components and also a complimentary zero confirmation pivot system. The first component is BC which stands for base coloring - the second component is SC which stands for signal coloring.
Users should look at every SC as an “area of effect” that suggests the general price range in which the market may turn and in which you should place your orders. If the area gets violated by price movement in the opposite direction, the signal candle loses its value as a signal and thus gets invalidated.
