Main Chart Review – How good are these signals?

Chart Prime is a trading signals service that offers overlays for TradingView charts. With Chart Prime, you can automatically identify trends and predict reversals, as well as get real-time feedback when it's time to take profits in a trade. The indicator is relatively easy to use and works well alongside popular momentum indicators such as MACD.

Can this signals tool help you find more profitable trading opportunities? Keep reading our Chart Prime review to find out.

Chart pricing options

Chart Prime costs $67 per month, $143 per quarter, or $489 per year. You can try the program for 7 days with a money-back guarantee.

Note that you will need a TradingView account to use Chart Prime. You can use the software with a free TradingView account, but you will need a paid subscription if you want to add additional indicators to your charts. TradingView's paid plans start at $12.95 per month.

Main chart features

Chart Prime offers three overlays for TradingView charts called Market Oracle, Market Dynamics, and Prime Oscillators.

Oracle Market

When using Market Oracle, you can choose between trend mode or reversal mode. Trend mode is a lagging indicator that indicates the emergence of an upward or downward trend. It displays a buy or sell signal on your chart and also contains a “strong” signal indicating the formation of a particularly strong trend. The reversal mode is a predictive indicator that warns you that the trend is about to reverse.

You can customize the sensitivity of the indicator by changing the number of bars it uses for backtesting. Helpfully, Market Oracle has an auto optimization function that will test multiple sensitivity levels and automatically apply the sensitivity that provided the most profitable signals to your current chart. This is a nice touch since optimizing indicators is often one of the hardest parts of using custom signal systems like Chart Prime.

For each trend or reversal signal, the Market Oracle overlay also adds Take Profit signals to your chart in the form of check marks above your bar. They are calculated as the price action develops (as opposed to when a trend or reversal signal is first issued), so you need to monitor your chart to watch for these take profit signals and act on them.

Market Oracle also calculates the raw score and consolidation score in real time. The raw score indicates how bullish or bearish a stock is trending on a longer time scale than the trend signals. Therefore, you can use it to ensure that you are trading with the broader trend and not against it. The degree of consolidation indicates how uniform a stock's current price movement is, giving you an idea of ​​whether the next movement is likely to be explosive.

Market dynamics

The Market Dynamics Overlay provides a set of useful indicators for day trading and swing trading.

First, the Order Block indicator displays the price level of large institutional orders directly on your chart. These orders often act as support and resistance levels during day trading. The overlays are similar to what you get with Bookmap, although they are less precise.

The chart pattern recognition feature automatically identifies patterns such as triangles and wedges. It is useful that Market Dynamics automatically calculates target prices for trades based on these patterns and displays them on your chart. This makes it easy to know when to open and close a trade.

The multi-timeframe analysis tool calculates support and resistance levels for multiple time frames, then displays them all on one chart. This is a great tool for day traders who want to monitor daily or weekly support and resistance levels on their intraday charts.

Another tool within market dynamics is predictive ranges. This plots the expected high and low price levels the stock will reach during volatile trading. It also predicts sub-ranges, which are impressively useful for visualizing where a stock price might pick up or even reverse within a broader trend.

Elementary oscillators

The Prime Oscillators overlay is best used with the Market Oracle and can be used to confirm buy or sell signals. This indicator displays an oscillator that is somewhat similar to the MACD in that it tracks the upward or downward direction of price movement. However, while the MACD is a lagging indicator, the Prime Oscillators is a predictive indicator and usually moves before a breakout or reversal.

The Prime Oscillators overlay also includes its own buy and sell signals as well as overbought and oversold signals. When these signals align with the Market Oracle signals, it is a good sign that the trade is likely to be successful.

Tutorials

Chart Prime does a great job of explaining how to use and customize its overlays in a series of videos. The platform also has its own Discord channels where you can ask for help directly from the traders who developed this system.

This is a big plus since Chart Prime already seems to offer support after you purchase a subscription. In contrast, a lot of signal services simply deliver their indicators and leave you to figure out how to use them yourself.

Main platform highlights chart

Chart Prime is one of several signals services that offer indicators and overlays for TradingView. Other options include Simple Algo and LuxAlgo. Of course, there are also thousands of community-contributed indicators and trading strategies available within TradingView itself.

What's nice about Chart Prime is that it offers multiple chart overlays that reinforce each other. You can use Market Oracle, Market Dynamics, and Prime Oscillators overlays together to confirm signals, measure their strength, or set price targets and stop-loss levels. Just be careful as these indicators are all black boxes and may reinforce each other simply because they are based on very similar data sets.

What type of trader is Chart Prime best for?

Chart Prime is suitable for a wide range of day traders and traders who want to trade around high momentum trends and reversals. All service overlays aim to identify high probability price action before it unfolds and provide you with clear entry and exit signals.

Chart Prime is fairly easy to use and the tutorial videos do a great job of explaining the system. So, it is easy to use for beginner traders who don't already have a well-defined strategy. More experienced traders may want to test Chart Prime for a month before committing to a longer subscription to make sure it works with their current strategy.

Keep in mind that Chart Prime only works with TradingView. If you don't use TradingView as your primary charting platform, Chart Prime may be less useful to you. You can use it with the free TradingView plan, but you'll get the most out of it if you can monitor multiple charts and combine Chart Prime overlays with other indicators.

Positives

• Automatically identify trends and reversals
• Actionable trading signals with take profit levels
• Automatically identify trend lines and chart patterns
• Multiple overlays provide confirmation of signals
• Works with TradingView free plan

cons

• Indicators are black boxes so you have to trust them blindly
• The overlay customization options may seem cumbersome