Quote:
Originally Posted by francoc30
Hi Jeremy,
Wow the rainbow looks great. How do you use it in general? What is the different colour suppose to tell you? And how do you use it with Synergy system?
Franco
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Here is what they mean;
1.
Yellow - short term traders (Mainly going for quick pips and not interested in holding positions)
2.
Orange - short term traders (Those hold on the positions a little longer than the yellow)
3.
Blue - mid term traders (Mainly swing traders, usually hold on the positions longer than previous 2)
4.
Green - long term traders (Will hold on to their positions longer than mid and short term traders)
5.
Red - long term traders or investors (They hold on to their position the longest
The
Blue
Red line is a slope direction line and shows the change in the trend from Blue to Red etc.
I use it to check the trend. then I go to the synergy system set up by Dirk on a separate chart.
I like to see if I am with the over all trend on a position and what everyone type of trader is doing. (This is not a system I made up I found it on another webpage and then combined it with the use of Synergy)
Normally my charts look like this,