Chart Prime Review – How Effective Are These Trading 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, plus get real-time feedback on when it’s time to take profits in a trade. The indicator is relatively easy to use and works well alongside common momentum indicators like MACD.

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

Chart Prime Pricing Options

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

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

Chart Prime Features

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

Market Oracle

When using Market Oracle, you can choose between trend mode or reversal mode. Trend mode is a lagging indicator that signals when a bullish or bearish trend has developed. It displays a buy or sell signal on your chart and also has a “strong” signal that indicates that a particularly strong trend has formed. Reversal mode is a predictive indicator that warns you that a trend is about to reverse.

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

For every trend or reversal signal, the Market Oracle overlay also adds take-profit signals to your chart in the form of checkmarks over your bar. These are calculated as price action develops (as opposed to when the trend or reversal signal is first issued), so you have to monitor your chart to watch for these take-profit signals and act on them.

Market Oracle also calculates a real-time prime score and consolidation score. The prime score indicates how bullish or bearish a stock’s trend is on a longer timescale than the trend signals. So, you can use it to ensure that you’re trading with the broader trend rather than against it. The consolidation score indicates how consolidated a stock’s current price action is, giving you an idea of whether an upcoming move is likely to be explosive.

Market Dynamics

The Market Dynamics overlay offers a grab-bag of indicators that are helpful for day and swing trading.

First, an order block indicator displays the price level of large, institutional orders right on your chart. These orders often serve as support and resistance levels during intraday trading. The overlays are similar to what you get with Bookmap, although less refined.

A chart pattern recognition feature automatically identifies patterns like triangles and wedges. Helpfully, Market Dynamics can automatically calculate price targets for trades based on these patterns and display them on your chart. That makes it easier to see when to open and close a trade.

A multi-timeframe analysis tool calculates support and resistance levels for multiple timeframes, then displays them all on a single chart. This is a great tool for day traders who want to keep an eye on daily or weekly support and resistance levels on their intraday charts.

Another tool within Market Dynamics is predictive ranges. This plots the predicted high and low price levels that a stock will reach during volatile trading. It also predicts sub-ranges, which are impressively useful for visualizing where a stock’s price might catch or even reverse within a broader trend.

Prime Oscillators

The Prime Oscillators overlay is best used in combination with Market Oracle and can be used to confirm buy or sell signals. This indicator displays an oscillating indicator that feels somewhat similar to MACD in that it tracks the bullishness or bearishness of price action. However, whereas MACD is a lagging indicator, the Prime Oscillators indicator is predictive and typically moves before a breakout or reversal.

The Prime Oscillators overlay also includes its own buy and sell signals along with overbought and oversold signals. When these align with signals from the Market Oracle, that’s a good sign that a trade is likely to succeed.

Tutorials

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

This is a big plus since it feels like Chart Prime actually offers support after you purchase a subscription. In contrast, a lot of signals services simply hand off their indicators and leave you to figure out how to use them on your own.

Chart Prime Platform Differentiators

Chart Prime is one of many signals services offering 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 one another. You can use the Market Oracle, Market Dynamics, and Prime Oscillators overlays in combination to confirm signals, gauge their strength, or identify price targets and stop loss levels. Just be cautious since these indicators are all black boxes and they may reinforce one another simply because they’re basing signals on overly similar datasets.

What Type of Trader is Chart Prime Best for?

Chart Prime is suitable for a wide variety of day and swing traders who want to trade around high-momentum trends and reversals. The service’s overlays are all aimed at identifying high probability price action before it unfolds and providing you with clear entry and exit signals.

Chart Prime is fairly straightforward to use and the video tutorials do a great job of explaining the system. So, it’s approachable for beginner traders who don’t already have a well-defined strategy. More experienced traders may want to test out Chart Prime for a month before committing to a longer subscription to ensure it works with their existing 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 a lot less useful for you. You can use it with a 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.

Pros

• Automatically identify trends and reversals
• Actionable trading signals with take-profit levels
• Automatically identify trendlines and chart patterns
• Multiple overlays provide confirmation for signals
• Works with a free TradingView plan

Cons

• Indicators are black boxes so you have to trust them blindly
• Overlay customization options can feel overwhelming