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Track 'n Trade - Stocks | Futures | Forex
Choosing Price Bar Types
In this video, we want to review the different types of Price Bars, within Track 'n Trade. I'm doing this demonstration in the Forex version of Track 'n Trade, but these features are exactly the same whether you're using Track 'n Trade Stocks, Futures, or Forex.
You'll notice the Price Bars that we're currently looking at are red, yellow, and green. That's because this demonstration is being done using the Bulls 'n Bears, the infamous Bulls 'n Bears tool. Which changes the Price Bars from red, yellow, and green indicating whether the market is Neutral, Bullish, or Bearish.
What we want to do is show you how to get back to the traditional color. Of course, to do that, we just simply have to turn off the Bulls 'n Bears. We can do that by removing that color selection, here. This is taking us back to the traditional color set. Inside of Track 'n Trade, we have a number of different Price Bars. If we have the preferences set, by simply clicking on the chart, it's going to bring up the Chart Preferences.
There are several ways that we can obtain access to changing Price Bars. First of all, you'll notice that they're right here in the Settings for Daily Charts. Then we come in here and we can drop this down. We can have the Open High/Low Close, we can have the High/Low Close Bar, we can have a Close Bar, we have the Open Bar, we can have a Candlestick style chart, and we can have None. We can have no chart at all, if you would prefer.
If we go back to the Open High/Low Close Bar, you'll notice that what we do is we can also come over here and we can right click on the chart, and we're going to also have access to these same controls. We can say Price Bar Type: Open High/Low Close, High/Low Close, Close, Open, Candle, and None. These are accessible by right clicking on the chart, as well.
Let me also show you while we're in here, let me show you a feature that we have for the Candlesticks. You'll notice that we also have what we call the Proportional Width Price Bars. You'll see that the Price Bars are relatively thick in this case. If we want to turn that off, we can simply come down here and turn off Proportional Width. You'll notice that it kind of simplifies the Price Bars, and makes them not quite so thick on the screen. It's more noticeable when we zoom in a little bit. We come in and turn on Proportional Width, you can see the difference. Depending on which way you like to View those. Then we're going to come down here to, sliding down through the Preferences Tab, we're going to come all the way down to Price Bar Preferences. We can come in and we can make different changes to the different colors of the different Price Bars, through this Control Panel here.
You'll notice that we can have Close Higher Bars can be Lawn Green or whatever we would prefer. Close Lower is Red, this is very traditional colors that are set as the defaults. No change is going to be White.
We can show Price Bar text, here, by simply turning this on and off. You'll notice that up in the left hand corner this is the cursor text that's up here. We can also fill all the Candles if we would like. You'll notice that we have Open Body Candles, at this point. If we would like to see those filled, we would very simply, click this box here. That would fill those.
The last thing that I would like to show you, regarding different Price Bars, is the Heikin-Ashi. Heikin-Ashi is a mathematical formula that averages the Price Bars. To example that, it's easier to see that, I'm going to come in and change it back to Open High/Low Close. I'm going to turn back on the Proportional Width. If you look at the Price Bars you'll notice that they are traditional Price Bars set in this way, in this manner. If we slide back up here under the Price Bars, you'll notice that we are currently working on the Open High/Low Close Bar style. That's this chart, that's selected. If we collect right here, Heikin-Ashi, you'll notice that we come up with a warning that says:
'The Heikin-Ashi Price Bars are calculated differently than regular Price Bars. If you would like to know more information on how they're calculated, you can click here, and it'll give you more information.'
But what we're doing is basically averaging out the Price Bars. You'll notice the difference here, the way they look. We also have a Quick Button Bar, right here. A little button up here, that says HA. This is to toggle the Heikin-Ashi back on and off. You can see how it changes the difference back and forth between those two settings.
That's the different types of Price Bars and the Heikin-Ashi Price Bar feature within Track 'n Trade.