What are the zones, the Teeth Line and the green and red steps on the 5 Candle chart?
Quick answerThe blue zone marked 5 · BUY is the five candles of a setup, and its top is the peak, the trigger. The Teeth Line is the red 8-candle average. The green and red steps are the target and the stop of an open trade.
The details
- Blue zone, 5 · BUY: the five candles after a peak (a fractal high: a candle with lower highs on both sides). Its top is the trigger.
- Amber zone, 5 · SELL: the mirror image, drawn for context only (why).
- Red line: the Teeth Line, the 8. With the 5 and the 13 it shows the trend.
- Green and red steps: the target and the stop on each candle while a trade is open. They step your way only.
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