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MCT SmartKam Paintbar

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MCT SmartKam Paintbar

This Paintbar shows Smart money activity and Crowd activity (Kamikaze Traders) and color the bars on chart accordingly, thus named our SmartKam Paintbar. Crowd activity bars that close Up is shown as yellow hollow candles and down bars is solid yellow. Smart money activity bars Up is blue and down bars is colored purple. Smart money includes Commercial traders which is normally busy with hedging activities. Quite often these hedging leads to trades in the opposite direction of what the market is doing, buying on down movements and selling on up bars. The idea is to do what the Smart money is doing and to do the opposite of what the Kamikaze traders (retail traders) are doing as they are wrong quite often, as teached by veteran trader Larry Williams. Smart money normally sells at strategic highs / tops and buy at strategic lows / bottoms.

The trade location of these bars is very important like Crowd activity or Smart money Up bars at the highs of a range in n long up trend can lead to a pullback or reversal in the market and vice versa in down trends at the lows where crowd activity bars or Smart money down bars is. It is also very important to look for Support and Resistance areas around these potential reversal or pull back areas as this will help identifying these important inflection points in the market. Our Supply and Demand tools and the Simplified Volume tool showing buying and Selling pressure are excellent tools to use with this paintbars, together painting the whole picture what is unfolding in the market..

Volume Tools Strategy : https://www.facebook.com/moreconfidenttrading/posts/641804279359264

Now also available in a WATCHLIST version.



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