ARTICLE SYNOPSIS ...In part 1 of this two-part series, I covered the basics of Updata. This time, I will cover features, some of which are difficult to find anywhere else....
ARTICLE SYNOPSIS ...Upon launching MetaStock Pro 12 (MSPro12), the first thing you see is an overlay of the MetaStock main screen. Called the ""Power Console"" screen, it has three tabs on the left: Charts, Explorer, and System Test...
ARTICLE SYNOPSIS ...Updata, a UK-based company, has a wide range of analysis features. To give you an idea of how extensive this software is, consider there are 457 prebuilt custom indicators in addition to several dozen standard indicators, and 229 prebuilt trading strategies. Plus, they have one of the best point and figure interfaces....
ARTICLE SYNOPSIS ...The purpose of ChaosHunter is to find a formula that gives the relationship between independent variables and a dependent variable....
ARTICLE SYNOPSIS ...Portfolio Maestro is software with its own installation that allows users to analyze portfolios of equities, futures, and forex....
ARTICLE SYNOPSIS ...StockchartsPro, not to be confused with StockCharts.com and their ""pro"" plans that provide datafeeds, is software you install and use to find patterns that users find profitab...
ARTICLE SYNOPSIS ...Thinkorswim (TOS) by TD Ameritrade is software you can use with a number of different devices such as an iPhone, BlackBerry, Android, PC, touch iPod, or Apple Macintosh to trade stocks, stock options, futures, currency, spread orders, or future options....
ARTICLE SYNOPSIS ...OptionVue software, which specializes in option trading, is a product that needs to be downloaded and installed on your computer....
ARTICLE SYNOPSIS ...Wealth-Lab Pro is a complete trading platform that you can download on your computer....
ARTICLE SYNOPSIS ...OptionStation Pro is TradeStation's latest entry into the area of option analysis....
ARTICLE SYNOPSIS ...The Five Point Pattern is part of the Wave59 drawing tools. This drawing tool was developed under the guidance of Barrie Hetirachi, who has 20-some years of experience with the markets....
ARTICLE SYNOPSIS ...Ensign Software is an application that you can install on either Windows XP or Windows 7. It provides charting software using a variety of datafeeds, including free broker feeds from Interactive Brokers and TransAct Futures....
ARTICLE SYNOPSIS ...Eikon for Retail Traders is a robust, full-featured, flexible, real-time, news and data package from MetaStock....
ARTICLE SYNOPSIS ...Harmonic Trader is a website that offers a number of technical tools that were created by Scott Carney....
ARTICLE SYNOPSIS ...NeuroShell Trader (NT) is highly sophisticated software that is much more than just a way to utilize neural nets. NeuroShell Trader also deserves to be recognized for having well-designed interfaces that let the trader explore ideas with ease and speed....
ARTICLE SYNOPSIS ...Market Cycle Dynamics software for MetaStock (MCD) is the creation of David Knox Barker and is based on years of cycle research....
ARTICLE SYNOPSIS ...Japanese Candle Pattern Recognition is a MetaStock plug-in developed under the guidance of technician Greg Morris. I first encountered Morris's work when I started reading his book Candlestick Charting Explained. It had all the usual images of candlestick patterns, but it also had tables that gave statistics on reliability and frequency of occurrence for each of the patterns. It also held some surprising facts: you shouldn't expect the predictive capability...
ARTICLE SYNOPSIS ...Mesa9 is a set of studies for TradeStation, MultiCharts, and NeuroShell Trader that employs the latest evolution of John Ehlers's analysis techniques. The indicators are a set of tools, and without a doubt, one of the most powerful approaches that try to predict price behavior....
ARTICLE SYNOPSIS ...Big View is part of an ensemble of trading information from MarketGauge, available as a standalone package for $49/month. The last review of MarketGauge covered the Swing Trading course and the follow-on Mastery Program. The Mastery Program has a menu item called Big View, but MarketGauge actually refers to that item as Little Big View. To sort this out, let's take a quick look at Little Big View and then spend the bulk of the discussion on Big View....
ARTICLE SYNOPSIS ...One44 is a commodities trading platform that gives buy and sell recommendations for four very active commodities: Standard & Poor's 500 and na s d a q minis, euro, and yen. After downloading, just log in each time you want to use On e44. Why just four commodities? That's because On e44 is predicting where price will turn, and some of that prediction requires trading experience. That experience comes from Nick Ehrenberg, a veteran of 30 years of analysis provided to a select few of the cm e floor traders. On e44 was created to let a broad spectrum of traders see the...
ARTICLE SYNOPSIS ...The Pristine Pattern Method Scan plugin comes with screening filters, expert commentary, chart annotation, and templates to help find patterns that fit with the Pristine approach. The Pristine Method was covered in two earlier reviews in the February and April 2010 issues of St o c kS & co m m o d i t i eS. MetaStock refers to its screening filters as Explorations and its expert commentary and chart annotation as Expert Advisors. The CD comes with a 50-page manual that fits into the CD case. There are brief explanations of each of the pattern scans that you can use...
ARTICLE SYNOPSIS ...MarketGauge is a robust trading enterprise. In an earlier St o c kS & co m m o d i t iE S review, I examined Market Gauge's Opening Range Success Formula trading system. The Opening Range course focuses on strategies for daytrading, while the Swing Trading system focuses on trades that last from a half day to a week or more. When you go to the website you'll see a number of products offered for sale, including the Swing Trading course for $1,297. But you also get a number of other items for that $1,297, so let's spend a minute on the other systems....
ARTICLE SYNOPSIS ...MetaSwing is available as a set of TradeStation EasyLanguage and workspace files or as a MetaStock plug-in. MetaSwing uses historical price volatility as the basis for building indicators. The previous review of MetaSwing was for version 3.5, while this review covers version 4....
ARTICLE SYNOPSIS ...Stocks & Commodities V. 24:9 (98): At The Close by Dennis Peterson Trading The Qs One way to trade the NASDAQ Composite is to trade the QQQQ (NASDAQ 100 exchange traded fund). In recent days, trading out of my IRA has been challenging, since I can't short any stock in that account. Trying to find a long entry in a negative market can be a challenge. So what I did was abandon some indicators and I started to look for lines of support and resistance instead. I would trade those for just one or two bars of profit, but my indicators are designed for swing trading, and catching a few profitable...
ARTICLE SYNOPSIS ...Stocks & Commodities V. 24:10 (97-98): At The Close by Dennis D. Peterson Chart Analysis Trying to anticipate market support and resistance requires practice and knowing a few rules. Let's take a look at the QQQQs. First, it's obvious from Figure 1 that at this point, the QQQQs are in a downtrend or at the very least a downswing, especially if you apply zigzag. Zigzag (red line going through price chart) helps you see only the "significant" movement while eliminating the noise. In this case, noise was defined to be any price movement less than 2%, while 2% was deemed significant. I used the...
ARTICLE SYNOPSIS ...Stocks & Commodities V. 22:10 (28-34): Fibonacci And Gann Projections by Dennis D. Peterson It's time to have a little fun and see what a day-at-a-time replay can reveal in terms of future projections. In 2002, I wrote an article in Working Money about using Fibonacci projections. Since then, the charting techniques in eSignal have improved considerably and with the generous help of eSignal's Jason Keck, I decided to revisit the topic. Along the way, I thought, why not throw in couple of other goodies, like Gann's square of nine and a retracement readout? The Fibonacci projections used here ...
ARTICLE SYNOPSIS ...The indicator you use to signal entries is not necessarily the best one to use for exits....
ARTICLE SYNOPSIS ...Is there some predictability to what will happen in January based on what happens in December?...
ARTICLE SYNOPSIS ...Is the primary market trend up or down?...
ARTICLE SYNOPSIS ...Understanding the strengths and weaknesses of stochastics can make this a useful indicator....
ARTICLE SYNOPSIS ...A descending right triangle seems to have formed....
ARTICLE SYNOPSIS ...A handy device -- available free....
ARTICLE SYNOPSIS ...You can find out all sorts of interesting and useful things if you explore new types of data....
ARTICLE SYNOPSIS ...Using more than one indicator at a time will give you better results than just using one alone....
ARTICLE SYNOPSIS ...There's more to candlesticks than a visually appealing display of the open, high, low, and close....
ARTICLE SYNOPSIS ...Working Money: Postitive Volume Index by Dennis D. Peterson Is the primary market trend up or down? Writing about the positive volume index (PVI) takes me back to when I first started trying to understand the markets. I joined four stock clubs, searched the Internet extensively, and haunted the local library. I still belong to one of the clubs; its members use fundamentals. Even though they don't subscribe to anything as voodoo-like as technical analysis, they do plot data on semi-log charts and use them as part of the decision-making process. I was also able to learn quite a bit at the lib...
ARTICLE SYNOPSIS ...Gain useful insight by implementing a straightforward rule....
ARTICLE SYNOPSIS ...Two indicators are better than one....
ARTICLE SYNOPSIS ...Working Money: Trendlines And Consolidations by Dennis D. Peterson Here's a technique that produces more accurate trendlines. Drawing trendlines correctly is more challenging than many traders realize. The rule is that the more peaks and valleys you connect with a straight line, the more valid the line is in defining a trend. But simply connecting a set of the more prominent peaks or valleys can cause you to miss consolidations, since the smaller peaks and valleys that are skipped over could be defining a consolidation pattern. Consolidation patterns are important because they can be used to...
ARTICLE SYNOPSIS ...Here's a technique that produces more accurate trendlines....
ARTICLE SYNOPSIS ...You'll have better success placing Fibonacci retracement levels if you pay attention to your pivot points....
ARTICLE SYNOPSIS ...Following a few simple rules for using Fibonacci retracements should help improve your trading performance....
ARTICLE SYNOPSIS ...While RSI is limited in its application, it does share characteristics in common with other measures. Learning an effective way of overcoming those limitations could be beneficial....
ARTICLE SYNOPSIS ...More than just an alternative to indicators, pivots can be used to better understand market behavior....
ARTICLE SYNOPSIS ...Using the opening range can allow you to fade an open or to trade with the move....
ARTICLE SYNOPSIS ...Developing A Trading System by Dennis D. Peterson If you've ever tried it, you know that developing a trading system is no easy task. But you may find that following a series of steps could help you reduce the learning curve. Here's an example. There are three key features when it comes to developing a trading system: entry and exit signals, a plan for the type of stop, and a money management strategy. The first involves generating the signals, which can be purely visual, a result of technical indicators, or a combination of both. Most mechanical trading systems use indicators to encode visu...
ARTICLE SYNOPSIS ...It's a handy tool for any trader's toolbox....
ARTICLE SYNOPSIS ...Understanding the basics can help you trade moving averages much more efficiently....
ARTICLE SYNOPSIS ...A new tool makes the analysis of future pivot peaks or valleys easier....
ARTICLE SYNOPSIS ...A statistical approach for finding persistent cycles also works to find trends....
ARTICLE SYNOPSIS ...Working Money: What Are Pivots? by Dennis D. Peterson More than just an alternative to indicators, pivots can be used to better understand market behavior. The appearance of pivots on a chart suggests the market has made a decision about price action. Pivots are points at which the price changes direction. In many ways, they are more useful than indicators are. You will also find that pivots are the basis of many technical articles, and frequently part of trading strategies. Simply put, pivots are turning points (Figure 1). If the open-high-low-close (OHLC) bars before and after a bar have ...
ARTICLE SYNOPSIS ...Breadth and beta both start with "b," but what else do they have in common? Maybe a way to help make trading decisions....
ARTICLE SYNOPSIS ...Do you want to profit in the market? Then you need to understand resistance and support levels....
ARTICLE SYNOPSIS ...Sometimes the market roars and at other times it's quiet. Paying attention to these volume fluctuations can make a difference in your pocketbook....
ARTICLE SYNOPSIS ...Trading ranges, intraday versus interday, and two-day events are examples of just a few elements common to many trading strategies....
ARTICLE SYNOPSIS ...Using Cole and Weinberg as a basis for a trading system isn't the only place you'll find the use of daily ranges and short sequences....
ARTICLE SYNOPSIS ...Inverting charts can occasionally help make chart reading easier....
ARTICLE SYNOPSIS ...Working Money: Volume Speaks Volumes by Dennis D. Peterson Sometimes the market roars and at other times it's quiet. Paying attention to these volume fluctuations can make a difference in your pocketbook. Suppose someone offered you something you wanted, for less than it cost two weeks ago. Would you turn it down? What if everyone in your neighborhood had heard about it and they all wanted it too? Would they turn it down? These same dynamics are at play in the stock market -- and volume is a tool that can help you decipher them. If a stock is perceived to be a bargain, then the whole neighbo...
ARTICLE SYNOPSIS ...Identifying patterns can be helpful, even when you're looking at charts....
ARTICLE SYNOPSIS ...Spreadsheets and formulas....
ARTICLE SYNOPSIS ...Here is a system that incorporates swing strength with time....
ARTICLE SYNOPSIS ...Wouldn't it be nice to have an idea when-- that is the date-- the next swing might change direction? Some ideas might prove more profitable than others....
ARTICLE SYNOPSIS ...Working Money: Resistance And Support by Dennis D. Peterson Do you want to profit in the market? Then you need to understand resistance and support levels. A resistance level is the ceiling price area that a stock repeatedly tries to break through above, but for reasons that will become clearer later, temporarily cannot. A support level is the counterpart to resistance, an area that a stock repeatedly tries to go below but temporarily cannot. After repeated attempts, the price will often finally rise above the resistance level or go below the support level. The most common resistance and su...
ARTICLE SYNOPSIS ...Want to find out where the market is headed? Market breadth reveals plenty....
ARTICLE SYNOPSIS ...This popular tool to interpret stock prices is one of the staples of the technical analyst. Is it right for you?...
ARTICLE SYNOPSIS ...Volume tells us how many shares are traded and thus gives us a measure of buying and selling enthusiasm....
ARTICLE SYNOPSIS ...Volume tells us how many shares are traded and thus gives us a measure of buying and selling enthusiasm....
ARTICLE SYNOPSIS ...Volume tells you how many shares are traded and thus provides a measure of buying and selling enthusiasm....
ARTICLE SYNOPSIS ...Volume tells us how many shares are traded and thus gives us a measure of buying and selling enthusiasm....
ARTICLE SYNOPSIS ...Analyzing how MACD works makes a good case study for many indicators....
ARTICLE SYNOPSIS ...Analyzing how MACD works makes a good case study for many indicators....
ARTICLE SYNOPSIS ...This updated and expanded financial website is easy to navigate and provides timely information....
ARTICLE SYNOPSIS ...Everybody knows about stocks, but what about bonds? Bonds come in all shapes and forms, some of which may be just what you're looking for. Look and see if bonds would be a good match for you....
ARTICLE SYNOPSIS ...If you've ever looked at a stock price chart, you know that prices can move erratically. Take advantage of oscillators to determine the momentum of this price change. Knowing when to use them and which ones to use is critical....
ARTICLE SYNOPSIS ...Bonds lock in a guaranteed profit for a fixed length of time. When the market is volatile, they can offer a safe haven for investment capital....
ARTICLE SYNOPSIS ...Bollinger bands are one of the most successful indicators available today....
ARTICLE SYNOPSIS ...Bollinger bands are one of the most successful indicators available today....
ARTICLE SYNOPSIS ...Bollinger bands are one of the most successful indicators available today....
ARTICLE SYNOPSIS ...Bollinger bands are one of the most successful indicators available today....
ARTICLE SYNOPSIS ...The thrust oscillator (TO) uses market breadth measures to determine market trend....
ARTICLE SYNOPSIS ...Testing support or resistance levels often means something gives - sometimes dramatically....
ARTICLE SYNOPSIS ...Some are commonplace and mean little, while others are less frequent but meaningful....
ARTICLE SYNOPSIS ...An alternative to indicators...
ARTICLE SYNOPSIS ...This article is reprinted from Stocks & Commodities V. 10:12 (501-506) as a supplement to Dennis Peterson's April 27, 2001 article "Stochastics." Here's an example on how to calculate stochastics using Microsoft Excel....
ARTICLE SYNOPSIS ...For noisy data this is a useful technique....
ARTICLE SYNOPSIS ...An alternative to drawing price channels that uses pivot points...
ARTICLE SYNOPSIS ...Education, analysis, commentary -- you'll find it all on the Internet. Here's a sample of the top websites for investing information....
ARTICLE SYNOPSIS ...With a few charts and this simple technique, you can manage your 401(k)....
ARTICLE SYNOPSIS ...Candlestick patterns are well documented, but how useful are they for trading?...
ARTICLE SYNOPSIS ...Changing the time frame of a chart can often reveal trends, resistance and support more easily....
ARTICLE SYNOPSIS ...While most indicators measure the amount of price change over time, Aroon measures the amount of time since an event has occurred....
ARTICLE SYNOPSIS ...New 52-week highs and lows is a useful indicator to time market entries and exits....
ARTICLE SYNOPSIS ...The thrust oscillator (TO) uses market breadth measures to determine market trend....
ARTICLE SYNOPSIS ...Your selection of indicators needs to fit a stock's personality....
ARTICLE SYNOPSIS ...Candlestick patterns are well documented, but how useful are they for trading?...
ARTICLE SYNOPSIS ...Determining Market Health Market Breadth: Volume Of all the market breadth measures to determine the overall health of the market, volume is perhaps one of the most difficult to use. by Dennis D. Peterson It only takes a few stocks to push major indices such as the Dow Jones Industrial Average, the Standard & Poor's 500, and the Nasdaq Composite up, and that's especially true for the Nasdaq Composite, which is weighted by market capitalization. To gain insight into market momentum, traders turn to market breadth indicators. Breadth measures how much of the market is participating in an index...
ARTICLE SYNOPSIS ...Some would call it Accumulation/Distribution, but whatever the name there is some useful insight to be gained by examining it....
ARTICLE SYNOPSIS ...Market Breadth Or Beta? Breadth and beta both start with "b," but what else do they have in common? Maybe a way to help make trading decisions. by Dennis D. Peterson Market breadth is a measure of market momentum. When momentum is positive and increasing, the market is bullish, and when momentum is negative and decreasing, the market is bearish. Some stocks are highly correlated with market momentum; that is, when the market is bullish, the stocks are rising, and when it is bearish, the stocks are declining. The correlation that a stock has with a market is known as its beta value. Thus, kn...
ARTICLE SYNOPSIS ...Ready to move up or just sideways?...
ARTICLE SYNOPSIS ...What is this indicator? Does it work? Something new or just a different look at what you might have already observed?...
ARTICLE SYNOPSIS ...What is this indicator? Does it work? Something new or just a different look at what you might have already observed?...
ARTICLE SYNOPSIS ...What is this indicator? Does it work? Something new or just a different look at what you might have already observed?...
ARTICLE SYNOPSIS ...NR4, or narrow range 4, is an observation that can help tell when a stock is about to change swing direction and is not an indicator requiring a choice of parameters...
ARTICLE SYNOPSIS ...There is the right time to use stochastic and there are also alternatives....
ARTICLE SYNOPSIS ...Much of what we do today was either used or started by Gann....
ARTICLE SYNOPSIS ...Gann's basic swing pattern theories have been used by other traders. Here are a few examples of how they were applied....
ARTICLE SYNOPSIS ...One enigma remains elusive and another less so....
ARTICLE SYNOPSIS ...One enigma remains elusive and another less so....
ARTICLE SYNOPSIS ...You may not be a rocket scientist, but you'd feel like one if you could see the downturns and upturns in the market, using this form of analysis....
ARTICLE SYNOPSIS ...Negative volume index (NVI) claims to be an index that reflects what smart money is doing. Whether it's smart money or not might be debatable, what isn't debatable is whether it can work....
ARTICLE SYNOPSIS ...The Commodity Channel Index can be a useful alternative to stochastics....
ARTICLE SYNOPSIS ...Semi-log charts can help you understand some of the Nasdaq composite price action....
ARTICLE SYNOPSIS ...There are times when the relative strength index (RSI) performs better than the stochastic oscillator, especially at market tops or bottoms....
ARTICLE SYNOPSIS ...Where is the Nasdaq headed? A look at several indicators may give us a prediction....
ARTICLE SYNOPSIS ...Take control of your 401(k) by using this form of analysis....
ARTICLE SYNOPSIS ...This article is reprinted from Technical Analysis of Stocks & Commodities magazine, Volume 10, Issue 5 to supplement my recent article "Forecast Oscillator"....
ARTICLE SYNOPSIS ...The forecast oscillator uses linear regression to predict price and then compares the prediction to the actual price....
ARTICLE SYNOPSIS ...Fifty two week new highs and new lows are a traditional breadth indicator to determine when a market has reached a new bottom or top....
ARTICLE SYNOPSIS ...Where is the Nasdaq headed? Do Fibonacci retracement lines give us a clue?...
ARTICLE SYNOPSIS ...Trendlines and relative strength help an investor decide if a market, or sector of a market, is doing well and what to expect....
ARTICLE SYNOPSIS ...Is the Nasdaq in a trend or not? R-squared, a by-product of linear regression, is one way to find out. Does it do better than the vertical horizontal filter (VHF), another trend measuring indicator?...
ARTICLE SYNOPSIS ...In Part II you will find the mathematical and Metastock formulas for VIDYA, the variable index dynamic average....
ARTICLE SYNOPSIS ...VIDYA, the variable index dynamic average, provides the means to dynamically change the period of an exponential moving average. Its application to the Nasdaq provides some interesting insight to Nasdaq behavior....
ARTICLE SYNOPSIS ...Edwin Sedgewick Coppock devised an indicator that compares past performance to current and may give us an insight into the Nasdaq....
ARTICLE SYNOPSIS ...Nasdaq Advances -- Declines by Dennis D. Peterson This market breadth indicator remains one of the most popular ways to gauge market movement. Market indices can rise on the backs of just a few stocks. This is especially true with the Standard & Poor's 500 and the Nasdaq Composite, since both are weighted by market capitalization. Market breadth indicators that can picture the entire market help traders and investors identify market momentum. The three measures typically used to characterize the New York Stock Exchange (NYSE), Nasdaq, and the American Stock Exchange (AMEX) are advances ? decl...
ARTICLE SYNOPSIS ...The Chaikin Oscillator can be a very useful indicator when applied under the right conditions....
ARTICLE SYNOPSIS ...Commonly, stocks will reach a period of congestion or consolidation after making substantial gains. Money flow index (MFI) is examined as a way of gauging which direction the price will take out of the congestion....
ARTICLE SYNOPSIS ...The rise and fall of equity prices can be seen as a battle between buyers and sellers that can reveal information on supply and demand....
ARTICLE SYNOPSIS ...On-balance volume and money flow are two commonly used indicators. Understanding how to use them can provide additional confirmation of a pattern....
ARTICLE SYNOPSIS ...A bowl pattern is a reversal pattern that frequently occurs in financial markets. It can be a strong predictor of price increase. Also known as a saucer pattern, the bowl can have an opposite called an inverted bowl which can be a strong predictor for price decrease....
ARTICLE SYNOPSIS ...Each day in the market is a contest between bulls and bears. Pivot points, or variations thereof, may play a role....
ARTICLE SYNOPSIS ...If you combined the best features of RSI and stochastics into a single indicator, how well would it perform as a simple trading system?...
ARTICLE SYNOPSIS ...Candlesticks can have either bullish or bearish shadows. How reliable are these indicators in seeing the bottom of the Nasdaq decline?...
ARTICLE SYNOPSIS ...Two commonly used indicators for determining a trending versus non-trending condition are vertical horizontal filter (VHF) and average directional index (ADX). Unfortunately they can give different answers....
ARTICLE SYNOPSIS ...The accumulation/distribution indicator can be very useful to confirm the accumulation and distribution phases of a stock's buying and selling, better than on-balance volume (OBV) in many instances....
ARTICLE SYNOPSIS ...Constructing an Excel spreadsheet requires that each step of the ADX computation be stated. Shown are each of the calculations....
ARTICLE SYNOPSIS ...When looking at price action it can be helpful to see if recent price action has a trend and to evauate the strength of that trend. Average directional index (ADX) provides both....