Do You Overlay Candlesticks On . . .

[dbphoenix]

And why?

 

[superfly]

x min. candle chart
I overlay my targetinstrument with candles of x minutes because I can think and act within a timeframe of x min. The x min timeframe has a long term average(1000) of y cents. I also have chosen the x min timeframe because y cents correspondents with my initial risktolerance stop for all new positions. So in fact my inital risktollerance is maxed at the long term average x min bar against any new position.

y cent candle chart
Besides the x min candles chart, I also use a cent chart. On this chart all candles are of length y cents. This chart is relatively clean compared to the x min. candle chart.
I have calibrated x versus y so that price, if it is really moving, frequently prints very distinct smooth vertical legs on the cent chart.

For instance:
-x min is 5 min;
-y cents is 10 cents.

super

 

[PKFFW]

I use candlestick charts if that is what is meant by "overlaying".

I use daily, 1 hour and 15 min candlestick charts.

PKFFW

 

[daytradingUK]

Yes I use 5 min candles on intraday and daily on 6 month charts.

I alsomake sure I have some volume on as well to aid the decision process