Using the new stock charts feature

Transcript: You may have noticed that there’s a new page on the blog called charts, and in this video I’m going to talk about how to use the new feature

The first thing you can do on the charts page is you can enter a symbol into the field on the left and that will bring up the latest chart for that symbol.

Now, if you just start typing a couple of letters you’ll see there are a whole load of markets to choose from, stocks, futures, forex, CFDs etc.

And, if you click on economy, you can bring up some economic data series which comes direct from the Federal Reserve Economic Data program, also called Fred.

So I’ve now brought up the chart for the S&P 500 Index and the little graphic at the top here shows that this is a real time chart with data coming direct from the exchange.

Most futures here will have live data feeds, while most stocks are delayed by 15 minutes. In which case, the green realtime graphic changes to an orange delayed graphic.

At the moment, we’re looking at the daily chart of the S&P 500 but you can change the timeframe to 1 hour, 30 mins,1 minute or almost anything you like. If you click on these 3 dots you can specify more timeframes to drill down into.

Inserting indicators

The next box along on the right, brings up a list of indicators that you can then insert into the chart, so you’ve got all the classic indicators such as ATR, Bollinger Bands, moving averages, pivot points etc.

To insert an indicator, just click on the one you want. Then click on the little cog button to adjust the settings and formatting.

Next to the indicators box on the right again, is the comparison tool and here you can bring up another symbol and compare it against the underlying symbol. In fact, you bring up several at a time.

So, you can bring up a chart of another market like gold, for example. And you can see if there is any relationship between the two.

You can also bring up economic releases. So, for example, you can bring up the US unemployment rate and compare that to the S&P 500 Index Like so.

So you can see this is quite an interesting comparison, where the stock market looks like it has a kind of inverse correlation with unemployment over the last 15 years.

S&P 500 chart and unemployment

And if you want to zoom out you just use the + and – buttons at the bottom.

Different chart types

Now, the other boxes to the right let you change the format of the chart so you’ve got candlesticks, area chart, line chart, Renko and some other variations. I quite like the Renko chart, because gets rid of a lot of noise and we can clearly see the direction of a stock like Apple.

You can then take a screenshot or an embedded version of this chart for your own blog or website and you can also open it up in a standalone window by clicking this blue button.

Also, underneath the chart is a chat window, so the idea here is to select the category you’re interested in, then you can chat in real-time with other traders and discuss potential trade set-ups, ideas and things like that.

So, please make sure you have a play around with the charts here and take a look at the different symbols and markets that are available.

There are actually some other features that could be added on to this chart, such as drawing tools, an economic calendar, and news headlines, but I’ve left these off for now because I don’t like charts to be too cluttered. But if you do want these features included just let me know and I’ll put them on.

So that’s all for now, I hope you enjoy the charts, thanks for listening, and good trading.

 


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