Friday, May 01, 2009

My Little Buddy

I've been using these new format charts recently for the blog posts so I thought I'd mention a little bit about them.
They used to be, but the name has now changed to, although the product is identical an still free. Having been at this for a few decades I've never found real time charts for free even approaching this level of refinement and robustness.
As I have 3 dual core laptops and 3 external monitors in play I just set the chart on a separate screen an use it as my primary 2 minute trading screen during the day.
The settings as shown include the VWAP, the parabolics (.04,.2) and the pivots on the main chart along with 3 linear regression lines (30,14 and 7).
The 4, 7 and 14 SMAs and the Detrend (30) are on the middle panel technicals with a 12,26,9 MACD histogram shaded in the background.
These are a little faster settings than those I've profiled before but even with relatively narrow range days like Thursday, the 4/7 MAs provide great risk management signals and work closely with the parabolics to trigger entries.
As I've discussed previously the 3 linear regression studies really act like an early warning system for impending trend changes and once that LR7 changes slope from the LR14 line you'd better be paying attention.
These settings are optimized for the Qs. My IWM and XLF settings are a little bit different and you're advised to craft the settings to reflect the volatility and ATR of whatever you like to trade. Signals on the double and triple ETFs also benefit from a little tweaking.
There are a lot more programmable technical studies available on the platform, plus news, a watchlist and a whole array of T technical indicators that you can monitor in real time. An incredible platform for those who are currently limited to EOD data, and even those who have real time feeds, AND FREE !

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