Chart Frame Overlay

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Chart Frame Overlay (5 Components)


Chart Frame Overlay Background

The three components (described below) from a separate chart can be framed easily and accurately onto a single chart with the Chart Frame Overlay.

The Chart Frame Overlay is placed on the trade chart to provide a clear display on a single chart. For example a Renko FloBars 3/5/3 Chart Frame Overlay can be placed on the 1/3/1 Renko Flo Bar chart shown above.

For example a trader might choose to have two Chart Frame Overlays displayed on a single chart providing an uncluttered representation of support and resistance framing from multiple charts simultaneously.

The Chart Frame Overlay can be framed up on any combination of charts, such as a Renko FloBars 3/5/3 Chart Frame Overlay can be placed on the 1/3/1 Renko Flo Bars to name a few.

Upper Energy Band (1)

The first component of the Chart Frame Overlay is the upper energy band plot.

In this example the Renko FloBars 3/5/3 Upper Energy Band (from the Drummond Energy Band indicator) is drawn on the trade chart with a pink solid band. The framed energy of this band provides the trader with a clear representation of resistance energy in advance.

Lower Energy Band (2)

The second component of the Chart Frame Overlay is the lower energy band plot.

In this example the Renko FloBars 3/5/3 Lower Energy Band (from the Drummond Energy Band indicator) is drawn on the trade chart with a green solid band. The framed energy of this band provides the trader with a clear representation of support energy in advance.

Mid (3)

The third component of the Chart Frame Overlay is the mid line plot.

In this example the Renko FloBars 3/5/3 mid line (from the Drummond Renko Wrap indicator) is drawn on the trade chart with a white dotted line. The framed energy of this line is known in advance and provides a simple way to understand the strength of the crowds energy. 

Upper Yellow Area (4)

The fourth component of the Chart Frame Overlay is the upper yellow area plot.

In this example the Renko FloBars 3/5/3 Upper Yellow Area (from the Drummond Renko Wrap indicator) is drawn on the trade chart with a yellow shaded area. The framed energy of this yellow area provides the trader with a clear representation of where crowd energy can stop in advance.

Lower Yellow Area (5)

The fifth component of the Chart Frame Overlay is the Lower Yellow Area plot.

In this example the Renko FloBars 3/5/3 Lower Yellow Area (from the Drummond Renko Wrap indicator) is drawn on the trade chart with a yellow shaded area. The framed energy of this yellow area provides the trader with a clear representation of where crowd energy can stop in advance.