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Short Pivots on Charts

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    Short Pivots on Charts

    Could you tell me what the dotted horizontal line on the chart is in the attached image - its shorter than the others and has a 0,0 at the end, others have other numbers like 76,4 or 38,2. It was part of the template I downloaded from Shadowtraders (they did not return my inquiry to them). It seems to act as resistance or support like a Pivot, but I don’t see it in my indicators drop-down box.

    Thanks.
    Attached Files

    #2
    Hello Check7, and thank you for your question. This appears to be a drawn object on your chart, rather than an indicator plot. The 0, 0 seems to indicate that this is a baseline level. Their publicly available glossary page here, https://www.shadowtrader.net/glossary/ , and the fact that this is equivalent to the currently traded (black flag) price, would suggest that this line indicates where stable market activity would be occurring, likely for comparison to sloped lines. I will quote from their publicly available page,

    Originally posted by https://www.shadowtrader.net/glossary/
    Zero Line A term we use to indicate parity in the internals. For instance if the breadth goes flat (advancing volume is equal to declining volume), we say its sitting at the ‘zero line’. We use this for breadth and also for the advance decline line.
    This post contains an educated guess, and is not meant to supplement advice given directly by the third party vendor. Should anything in this post contradict any information given by the vendor, their advice should be considered canonical and the advice in this post should be disregarded.

    Please let us know if there are any other ways we can help.
    Jessica P.NinjaTrader Customer Service

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      #3
      Zero Line

      Thank you Jessica for the quick response.

      So I assume the Zero line moves up and down, maybe each day, as the one on the chart I attached would not represent a stable market as the market moves way up or down?

      Also, what would the same, but different colored lines, with 76,4 or 38,2 behind them mean? Just looking on the chart I can see without even moving the chart it is showing 13 of these lines!

      Thanks again.

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        #4
        Again, this is only a guess, and we can only provide limited support for third party products. However it looks from the glossary I previously linked that these numbers have to do with line slope and intercept.
        Jessica P.NinjaTrader Customer Service

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          #5
          Jessica and Check7.

          Check7 spoke about ShadowTraders (with an 's' at the end) and the picture he included looks like a template from Barbara Cohen who ran ShadowTraders. ShadowTraders seems to be defunct as their website does not work either anymore.That might explain why Check7 did not get a response from them.

          ShadowTrader (without an 's' at the end) is a different company.

          sandman

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