Breaking Down the Triple Play Chart
I have been posting the Triple play charts daily for a while now on many different time frames. I think it is good to look at the major indexes side by side to see how things are shaping up and help get an idea of where to focus. However, this weekend I realized there is a lot going on in this chart and it would probably help if I did a breakdown to help make sure followers don’t miss anything.
The Triple play charts hava the three indexes displayed with my RSI template. This template is really the basis for the chart and was built off my studies with Andrew Cardwell. I discussed this journey in detail during the RSI Series, so we won’t go into that detail again. Instead, I want to go through and label the $SPY chart for quick reference.
Top Band:
RSI Bull Bear Ranges. Bull = first cross above 60 since last cross below 40 and Bear = first cross below 40 since last cross above 60
Bottom Right Corner:
RSI Bull Bear Ranges. Bull = green smiley face Bear = red frowny face
Price Window:
Price Close Support = Next days price does not cross down through that days close at any point.
Price Close Resistance = Next days price does not cross above that days close at any point.
CFG The Number is a proprietary moving average formula developed by Cardwell Financial Group.
CFG Hi and Lo Lines are proprietary bands used on conjunction with The Number
9sma on close
45ema on close
*45ema has essentially been replaced by The Number, but old habits die hard.
RSI Window:
RSI 14
Traditional horizontal lines at 30, 50 and 70
RSI bull range parameters marked with green horizontal lines at 40 and 80
RSI bear ranges parameters marked with red horizontal lines at 20 and 60
9sma of RSI
45ema of RSI
CFG Window:
CFG is a proprietary indicator developed by Andrew Cardwell as a compliment indicator to the RSI. I think of it as an oscillator for gauging overbought and oversold readings while RSI moves through its bull or bear ranges.
4sma of CFG
20ema of CFG
45ema of CFG
Again more explanation of how I use a this data can be found above in the RSI series, but this should help add some value to the Triple Play charts I post each day. Oh yeah, and don’t forget to check out the power that 9sma of RSI can have on a chart.
Good Luck, it is there for the making!
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