SmartChart documentation - Trading
Contents
1. Google received a request to start sending Alerts for the search APPLE to google hno len eri Jo 016850781341 17f 0Cancel this Google request T Alert requesthttp www google com alerts remove s 70168507ad134117Thanks The Google Alerts Teamhttp www google convalerts Remove len Confirm Alert dialog After you have pressed the Confirm Alert button Google will start to send news emails to your email account Please be aware that it may take some time until Google sends the first news email to you Price Plots Introduction Smart Chart provides nine ways to view the pricing information Candlesticks Candle Volume Equivolume Equivolume Shadow Kagi High low close bars Line Point amp Figure and Renko Line charts require only closing prices to plot whereas Candlesticks require all four pieces of pricing information open high low and close And as their names imply Equivolume and Candle volume incorporate volume into the price plot Certain line studies i e cycle lines Gann grids and Fibonacci Time Zones plot unevenly on Equivolume and Candle Volume charts This is because the distance between time periods on these charts varies The same line studies when plotted on Kagi Point amp Figure Renko and three line break charts also produce results inconsistent with normal interpretation Indicators calculated on Kagi Point amp Figure Renko and three line break charts use all the data in e2. IMPORTANT READ CAREFULLY Smart Chart is shareware program This means 1 All copyrights are exclusively owned by Trading Tools com 2 Once registered the user is granted a nonexclusive license to use Smart Chart on one computer i e a single CPU for any legal purpose at a time The registered Smart Chart software may not be rented or leased 3 To register you must fill out the registration form For more information please refer to the Help files To purchase go to http www trading tools com order htm 4 Smart Chart is distributed AS IS No warranty of any kind is expressed or implied You use it at your own risk You assume responsibility for selecting the software to achieve your intended results and for the installation of use of and results obtained from the software The author will not be liable for data loss damages loss of profits or any other kind of loss while using or misusing this software and or any kind of data derived 5 You may not use copy emulate clone rent lease sell modify decompile disassemble otherwise reverse engineer or transfer the licensed program or any subset of the licensed program except as provided for in this agreement Any such unauthorized use shall result in immediate and automatic termination of this license and may result in criminal and or civil prosecution 6 Trading Tools com reserves the right to change the price for the program or any service without prior not
3. E 20 Moving Average Convergence Divergence MACD 20 Mass Index ense dtes ke nocd se ean ss eae eee sea eee 21 Median PRICE 3 acces oue eaae goods A aA aE iSi 21 Momentum Oscillator 33 5 corn dote ovid Ee turn ence esce ue Rec eso P des 21 Money Flow IndeX aida 21 Moving AveradecEnveloDesi cu dido eee pasan debated RDXR acia 22 Negative Volume Md iii Ad 22 On Balance Volumes ie A dr 22 Parabolic SAR sk crates iG n LEM LEM UE 22 PerTOFFTidliCe it a de wale Sec de nct a 23 Positive Volume IndeX ii ta 23 PRES Oscar ana C 23 Price Rate of Change sss siima e e E O O ADUCE DURAN RUE Kj E bl 24 Price and Volume Trend 52 aii 24 Rainbow OscillatOr its excea A A 24 Relative Strength Index RSI 2 idee een resur iaa 24 Simple Moving Average sseesseeeeee nennen nennen nan nna nnn nnn nn 25 Prime Numbers Bands 2 ou erede A DOCU VAR a 25 Prime Numbers Oscillator ovocitos 25 Standard Deviations sese nehmen nnn nnn nnns 25 Stochastic Oscillator sseeeeeeee Hm hm emen nnn nnn nns 26 Fractal Chaos Oscillator ii RR 26 SWING Ide vente 26 Time Series Moving Average coccccccccacnncaconcccncnrnacanarananannanananannanas 27 Trade Volume Index ii iia 27 Triangular Moving Average eer o oie dis 27 TRIX A te EEEN EELEE EEES OE CREAN SOA LIE die 27 Stochastic Momentum Index ceeeeeeeeeeeeee nenne nnne 28 Aver
4. Symbol Date Open High Low Close Openinterest Volume Use Drag amp Drop to change the order of the data fields Date formal D DMM YY l Time Acces Datbase File dialog Firstly you have to select whether the quotes of all securities are stored in one table or if a separate table exists for each security A table where the quotes of multiple securities are stored must contain a field that stores the symbol information The field name can be different in each database Therefore you have to manually enter the value If a password is required for your database file then you have to tick off the option Database is locked with a password Afterwards you have to enter a username and password In most cases the username is Admin Secondly you have to define the fields that are available in your database file Tick the checkboxes corresponding to the data field which you want to include You can change the field order using drag amp drop If your table looks like the following then you have to tick off the fields Symbol Date Open High Low Close OpenInterest Volume EE Securities Table p 3 Volume 02 01 2001 5 462572 5 568857 462572 462572 8295 10369 ACC 03 01 2001 5 532857 5604 5 462572 5 462572 17050 21313 Securities table It does not matter if the fields have other names than Open High etc You can give them any name you want It is only import
5. Open High Low Close and Volume As column delimiter you have to use Finally you have to define the date format YYYY MM DD In this example we have to select the option Skip first records because the file contains a file header Date Open High Low Close Volume If your ASCII file does not contain such a header you do not have to select this option Q Will Smart Chart be able to read the new Metastock format directories which support 6000 symbols A Yes SmartChart can read up to 6000 symbols per directory The program supports the old and the new MetaStock format Registration and Price Information Product price one time payment free updates 59 95 EURO If you decide to buy the programs MLDownloader and SmartChart you get both programs for only 99 95 EURO instead of 119 90 EURO This copy of Smart Chart is available for a 14 days evaluation period If you decide to continue using the program you need to register the program by using one of the methods described below By registering the software you are able to continue using it legally and are supporting our efforts to continually develop innovative products to best serve your needs If you order via credit card you receive the fully registered version of SmartChart within 5 minutes Privacy Sharelt or PayPal keeps your credit card info we do not ever see it In any case we do not share sell or otherwise distribute any of your personal da
6. Volume Periods Moving Average Type Exponential Moving Average An Exponential Moving Average is similar to a Simple Moving Average An EMA is calculated by applying a small percentage of the current value to the previous value An EMA applies more weight to recent values Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Source open high low close or volume Periods High Low Bands High Low Bands consist of triangular moving averages calculated from the underling price shifted up and down by a fixed percentage and include a median value Interpretation When prices rise above the upper band or fall below the lower band a change in direction may occur when the price penetrates the band after a small reversal from the opposite direction Parameters Periods High Minus Low Returns the high price minus the low price Linear Regression Linear regression is a common statistical method used to forecast values using least squares fit Parameters Source open high low close or volume Periods Moving Average Convergence Divergence MACD The MACD is a moving average oscillator that shows potential overbought oversold phases of market fluctuation The MACD is a calculation of two moving averages of the underlying price indicator Interpretation Buy Sell interpretations may be derived from crossovers calculated
7. You can change the field order using drag amp drop technology Detail Settings You should choose which character would be used as the field delimiter That character pertains to all columns and data in the file You can select the Date field format in your ASCII source There are different formats supported Example 1 YYYY MM DD means that the year is expressed as a four digit number and that the three fields are separated by a character Example 2 MMDDYY means that the year month and day are expressed as a two digit numbers each no characters separate the fields Third you can select if you want the first N rows to be ignored Use this if your ASCII source has column titles or other non financial information Plotting a Microsoft Access mdb File Select the MS Access database tab in the main window to plot an Access file Afterwards click on the button to search for the database file you want to open After you have done this following dialog will appear Access Database File Database options Quotes of al secutilies ae stored in one table Database field name where symbols are stored Symbol C Quotes of each security are stored in a separate table Database is locked wilh a password Username Password Available fields Please tick off the data fields that are available m your database iv Dale Time iv Open iv High Y Low Iv Close 4 Volume Iv Open Interest M Symbol M Unused 1 Data held ceder
8. a security A new chart window will be created for each security You can use the and buttons to navigate through a directory Click on the a icon in the toolbar to hide the left window So you can display all the charts in full screen mode Additionally you can also define a list with your favorite securities To add a security to the favorite list you have to click with the right mouse button on a security in the Ascii or MetaStock tab Asci Directory MetaStock Directory Favorites Remove security hom Favorites bet Dpen al securities Click on the nght mouse button to move a secunty to the favorte list Name Symbol Fie name en ATX ATX c metastock austria abx 2 dat A GDA DAX 30 c metiastock germany dax 301 dat P AMAZON COM IN c metastock usa nasdaq 1001110 dat e BMW DE BMW ciimetastockigermaryidax 30117 dat A CISCO SYS INCIC c metastock usa nasdaq 1001129 dat P EXXON MOBIL CP c metastock usa dow jones 30 industrial A MICROSOFT CP c metastock usa dow jones 30 industrial P MSFT MSFT cimetastockW 1 dal Favorite list All securities that are stored in your favorite list can be displayed at the same time by clicking on the Open all securities button News tab window If you are interested in news of a security you can click on the News tab The program automatically goes to the Google News http news google com site and displays the latest new
9. displays a chart To get the chart updated automatically you have to select this option If you do not select this option you have to refresh the chart manually Display news tab Select this option to display a News tab in the chart window om News D By clicking on this tab you can display news of the currently opened security Moreover you can select whether to display the news in English French German Italian or Spanish language Google News Alert Settings Google Alerts are email updates of the latest relevant Google results web news etc based on your choice of query or topic So you can easily create alerts for those stocks that you are interested in SmartChart automatically detects the news emails from Google and displays them in the main window First you have to select the option Check for Google News ever xxx minutes Afterwards select an interval how often SmartChart should connect to your email account and check for new Google news emails You can specify an interval from 1 to 300 minutes That SmartChart can read the Google news emails you have to specify the name of your POP3 server your POP3 user name and POP3 password POP3 stands for Post Office Protocol The standard email protocol used to receive emails POP3 server Address of your POP server Check with your email provider for this address POP3 Username Typically this is the first part of your email address e g username POP3 Passw
10. Fibonacci Fan Lines are sometimes used together to anticipate support and resistance at the points where the Fibonacci studies intersect Fibonacci Fans Fibonacci Fan Lines are displayed by first drawing a trend line between two extreme points a high and low An invisible vertical line is drawn through the second extreme point Three lines are then drawn from the first extreme point the leftmost point passing through the invisible vertical line with their slopes at the Fibonacci levels usually 38 2 50 0 and 61 8 These lines indicate areas of support and resistance Fibonacci Retracements Fibonacci Retracements are displayed by locating two extreme points a trough and opposing peak Five lines are drawn 100 the high on the chart the second at 61 8 the third at 50 the fourth at 38 2 and the last one at 0 the low on the chart These price levels often correspond to areas of support and resistance Fibonacci Time Zones Fibonacci time zones are composed by dividing a chart with vertical lines spaced apart in a ratio adhering to the Fibonacci number sequence 1 1 2 3 5 8 13 etc The interpretation of Fibonacci Time Zones involves looking for significant price movement near the vertical lines Also known as Fibonacci Time Series Gann Fan A Gann Fan is drawn between a significant bottom and top or vice versa at various angles The idea here is to use any of the fan lines as either support when retracing an u
11. SmartChart V1 6 Copyright C 2004 2008 Trading Tools com mailto info trading tools com User manual Table of Contents Table OF levi ce a A A AA 2 Welcome Y 4 MIA EE T E m UM 5 Plotting anm ASCE Pile c D a 6 Plotting a Microsoft Access mdb File oooooccocccnconcnnccnncnncnnnnnnrnnnnnos 8 Preferences Dialog vico ces ec rear eta xoa Nea a n arcu y nua recu secun nA Navas daa 9 PriC PIOUS 5i slae cese ii cge ie eese gest p aoo E epaogoiupy eo ce tw E Dad gore x ova ceu Pork ogex xo Mes 13 Ir EO MGEION 23252 eso cies des mee x tpe ob ae edades d Vue reU taie Medea ge ups ua da odas adea cede 13 Modifying a Price POE 4 4e ness Excuse tino cda 13 Indicators saci boy E 15 What ds an Indicakor 2 225 oce etr A a Dre coe E 15 Adding an IMGICALOM icut suce resque aba iron knee EEE TENE i Fa teta dr cete pats 15 Deleting an Indicator s xr oae A 16 Supported Indicators serrenda e pue ge oia 16 Accumulation Swing IndeX aii 16 Aroon Index and Oscillator nein rn ton tnu nonna nn enn Enn nun 16 Bollinger Bad lic 17 Fra ctal Cha os Bands var aci 17 Chaikin Moriey FIOW ci ci AA A ts 17 Chaikin Volatility Oscillator oia 18 Comparative Relative Strength eene nnn 18 m riwe geli P 19 High LOW Bands 2 sc veocy uaa diode og esed dose xo de aede tese cc usine RE a age 20 High Minus LON Cc 20 Linear REGRESSION iii
12. ach column and then display the average value of the indicator for that column Modifying a Price Plot To modify a price plot click the Styles menu then select the Price Style submenu and then click on the price style you want to have Moreover you can also define whether the price plot will be displayed in 3D style or not Styles gt 3D Style menu To change the color of the price plots click on the Color menu Up Color Click on this menu point to select the color when the closing price moves upward as compared to the previous period s price Down Color Click on this menu point to select the color when the closing price moves downward as compared to the previous period s price Volume Color Click on this menu point to change the color of the volume Fore Color Click on this menu point to change the chart s fore color X scale and y scale text Back Color Click on this menu point to change the chart s back color Grid Color Click on this menu point to chance the chart s grid color Horizontal and vertical Indicators What is an Indicator An indicator is a mathematical calculation that can be applied to a security s price volume or even to another indicator The result is a value that is used to anticipate future changes in prices Indicators are plotted either in a separate inner window or overlaid in the base security s inner window e g a moving average Adding an Indicator To add an indicato
13. age True Range eorr nte ina 28 Typical PriCGr sor iws I 28 Ultimate Oscilat r ase sereni Ctt 28 Variable Moving Average ssssssrrrrrrrrrrrrrrrrrrrrrrrrrrrrreessrrerereessnne 29 Vertical Horizontal Alterna 29 VIDYA AAA E T 29 volume Oscillator 2 DAA cd 30 Volume Rate or Change ROC sincisriconas ac scenic 30 Weighted ClO56 reos ue cada radianes naa a 30 Weighted Moving Average cccsceccssseeccsseesesseeeseeeeecenseeseesseeoesaneees 30 Welles Wilder s Smoothing eee nm mmn 31 Williams Accumulation Distribution esennn 31 Wiliams R eran aci sE 31 LING Studiis ie nar ua X A A EE DEE EDE Ae 32 EE A E EE A te piel AAA 32 Error Chanel Sica aa ox der AE a aaa uate eaput E PEER 32 Fibonacci lye ce e a AAA 32 Fibonacci T 0 MP 32 Fibonacci RetracemMmentS nic ouo avene qe ren da E XXUR HN EE ETYRE anew wns 32 Fibonacci Time ZONES Mr 33 Gann FaN AAN inet O oe ates non tte ean E A E OO edet IM acters 33 Q adrant DIIS cesar ue A A RT 33 Raff REDES OM AA AR EKERVIL NEEN ced A KE CENA 33 o A i eine EEEE iaki 33 Speed LIne werir peers 33 Tirone Level MERE 34 Trend ONE ETE 34 FAQ Frequently asked QUESTIONS eren nnn entr nne nt nr nr area r nnt nnn unns 35 Registration and Price Information esses nnn 37 IJDOL dE 2s exa EUR ANI x3 Homans OUO RR RR UU AO ERE RR XR NCAA AAA 39 CONTA llana EE 40 Disclaimer of Warranty wecevc
14. and Microsoft Access database files mdb Google news can be displayed automatically Receives stocks news as soon as they happen by using Google Alerts Main Window zz SmartChart MSFT A Ele Options Chat View Colors Styles Drawing Line Window Help Alala m a ci sic lt gt Asci Directory MetaStock Directoy MS Access Database Favorites Price S Standard y Tectrical Indicators Simple Moving A oi Al y records Co NEN d les St imple Moving Average isplay Dow Jones 20 Transportation Dow Jones 30 Industrials 3M COMPANY MMM ALCOA INC AA ALTRIA GROUP INC MO AMER EXPRESS INC AXP AMER INTL GROUP I AIG AT amp T INC T BOEING CO BA CATERPILLAR INC CAT CITIGROUP INC C COCA COLA CO THE KO Dow Jones 30 Industrials DJI DU PONT E IDE NE DD EXXON MOBIL CP KOM GEN ELECTRIC CO GE GEN MOTORS GM HEWLETT PACKARD C HPQ HOME DEPOT INC HD HONEYWELL INTL IN HON INTEL CP INTC INTL BUSINESS MAC IBM JOHNSON AND JOHNS JNJ JP MORGAN CHASE C JPM MCDONALDS CP MCD MERCK CO INC MRK Smart Chart main window On the left window you can select whether to display the contents of an ASCII or MetaStock directory or Microsoft Access database files First you have to select a root directory where these data files are stored By clicking on the button Afterwards all subdirectories will be displayed in the window A chart window will be displayed on the right side if you click on
15. ant that you have selected all fields that are available in the database and that they are in a correct order Finally you have to define the date and time format Note You have to make sure that SmartChart can read data from the table MSysObjects Make sure that you have ticked off the Read Data checkbox in the Tools gt Security gt User and Group Permissions dialog User and Group Permissions Permission Change wnes User Group Name List Users C Groups Permissions Ei v Read Data V Read Design Update Data Modify Design Insert Data Administer Delete Data Current User Admin User and Group Permissions dialog Preferences Dialog Click on Options Preferences to display following dialog Preferences Chart Settings Iv Automatically update active chart every 10 v seconds Google News Settings iv Display news tab Display news in English v language Google News Alert Settings Check for Google News every ho vl minutes POP3 Server POP3 Username IEEE POP3 Password OK Preferences dialog Automatically update active chart every xx seconds Select this option to update the active chart every xx seconds You should use this option if the data is updated by an external program Example Let us assume that you have a program that downloads real time data for you and stores this data in MetaStock format SmartChart can read these MetaStock files and
16. atility Oscillator adjusts with respect to volatility independent of long term price action Parameters Periods Rate of Change Moving Average Type Chande Momentum Oscillator CMO The Chande Momentum Oscillator Chande is an advanced momentum oscillator derived from linear regression Interpretation Increasingly high values of CMO may indicate that prices are trending strongly upwards Conversely increasingly low values of CMO may indicate that prices are trending strongly downwards CMO is related to MACD and Price Rate of Change ROC Parameters Source open high low close or volume Periods Commodity Channel Index The CCI was developed by Donald Lambert The purpose of this indicator is to identify cyclical turns in commodities Interpretation This indicator oscillates between an overbought and oversold condition and works best in a sideways market Parameters Periods Comparative Relative Strength The Comparative Relative Strength index divides one price field by another price field Interpretation The base security is outperforming the other security when the Comparative RSI is trending upwards Parameters Source 1 open high low close or volume Source 2 open high low close or volume Detrended Price Oscillator The Detrended Price Oscillator is used when long term trends or outliers must be removed from prices or index indicators Interpretation This indicator is often used to suppleme
17. ay upgrade at no charge to any newer release Just download the latest release of Smart Chart and install it If the registration code is no longer present on your system just re enter it like the first time and restart the program If for any reason your registration code becomes invalid or lost just send an e mail to mailto info trading tools com together with the details of your previous registration You will receive a new code via e mail at no charge Contact We provide support via email You can email your questions comments or bug reports to info trading tools com Normally all emails are answered throughout the 24 hour day Please take a look at the FAQ Perhaps your question is already answered there Keep the following tips in mind Software Problems It is easier to solve a software problem if you send us details that are as specific as possible when inquiring about software problems Also tell us the operating system you are using Data Problems Again details that are as specific as possible is necessary in order to resolve any data problems quickly Please specify the stock name and the date in question when reporting a data problem Specifying what you think is wrong is also useful Web http www trading tools com Forum http forum trading tools com Disclaimer of Warranty Please note that by using Smart Chart you are accepting the conditions of the Software License and Disclaimer of Warranty given below
18. ce results and all of which can adversely affect actual trading results Thank you for choosing Smart Chart
19. e imposed over an actual price or another indicator When prices rise above the upper band or fall below the lower band a change in direction may occur when the price penetrates the band after a small reversal from the opposite direction Parameters Source Periods Standard Deviations Moving Average Type Fractal Chaos Bands The chaotic nature of stock market movements explains why it is sometimes difficult to distinguish hourly charts from monthly charts if the time scale is not given The patterns are similar regardless of the time resolution Like the chambers of the nautilus each level is like the one before it but the size is different To determine what is happening in the current level of resolution the fractal chaos band indicator can be used to examine these patterns Parameters Periods Chaikin Money Flow The Chaikin Money Flow oscillator is a momentum indicator that spots buying and selling by calculating price and volume together This indicator is based upon Chaikin Accumulation Distribution which is in turn based upon the premise that if a stock closes above its midpoint high low 2 for the day then there was accumulation that day and if it closes below its midpoint then there was distribution that day Parameters Volume Source Periods Chaikin Volatility Oscillator The Chaikin Volatility Oscillator is a moving average derivative of the Accumulation Distribution index Interpretation The Chaikin Vol
20. ecsadiss sex vue a oS REE SURE RARE EFE SCEXEENRO VAR SEE pE E NENNEN 41 Welcome Managing your stock trading activity with Smart Chart is a cinch The package includes Over 30 of the most popular technical indicators into the charting software so you have access to the likes of Bollinger Bands Moving Average Envelopes MACD Moving Averages R S I A T R Standard Deviation Typical Price Volume Money Flow Index Weighted Moving Average Volume Oscillator and many more View your data in a number of formats like HLC Bars OHLC Bars Candlesticks Candlevolume Equivolume Shaded Equivolume Kagi Renko Three Line Break Point and Figure and more These objects are available in 2D or 3D styles Interact with charts Write notes draw trend lines and draw support resistance levels as per M S T S Following line studies are supported Ellipse Rectangle Speed Line Gann Fan Fibonacci Arcs Fibonacci Fan Fibonacci Retracements Fibonacci Time Zones Tirone Levels Quadrant Lines Raff Regression and Error Channels Darvas Boxes EOD and intraday data are supported All indicators update as prices change Charts can be exported to image files or can be print out Data can be updated automatically by the programs RTQDownloader in real time you will see no screen flickering and MLDownloader SmartChart can read practically any ASCII file and plot the data Alternatively SmartChart can also read MetaStock files all versions
21. enods Color The long cycle smoothing parameter Indicator Properties dialog The property dialog is different for each indicator To get more information of an indicator parameter click in the corresponding text field A brief parameter description will be displayed at the bottom of the dialog Deleting an Indicator You can delete an indicator by right clicking on the indicator plot and choosing Delete from the shortcut menu You can also delete an indicator by selecting the indicator and pressing the DEL key Supported Indicators Accumulation Swing Index The Accumulation Swing Index Wilder is a cumulative total of the Swing Index Interpretation The Accumulation Swing Index may be analyzed using technical indicators line studies and chart patterns as an alternative view of price action Parameters Limit Move Value Aroon Index and Oscillator The Aroon indicator is often used to determine whether a stock is trending or not and how stable the trend is Interpretation Trends are determined by extreme values above 80 of both lines Aroon up and Aroon down whereas unstable prices are determined when both lines are low less than 20 Parameters Periods Bollinger Bands Bollinger Bands are similar in comparison to moving average envelopes Bollinger Bands are calculated using standard deviations instead of shifting bands by a fixed percentage Interpretation Bollinger Bands as with most bands can b
22. eters Source open high low close or volume Long Cycle Short Cycle Moving Average Type Price Rate of Change The Price ROC shows the difference between the current price and the price one or more periods in the past Interpretation A 12 day Price ROC is most often used as an overbought oversold indicator Parameters Source open high low close or volume Periods Price and Volume Trend The Price and Volume Trend index is closely related to the On Balance Volume index Interpretation The Price and Volume Trend index generally precedes actual price movements The premise is that well informed investors are buying when the index rises and uninformed investors are buying when the index falls Parameters Source open high low close or volume Volume Rainbow Oscillator The rainbow oscillator is based upon multiple time frames of a moving average Interpretation When values stay above 80 or below 20 the trend may reverse suddenly Parameters Source open high low close or volume Levels Moving Average Type Relative Strength Index RSI The RSI Wilder is a popular indicator that shows comparative price strength within a single security Interpretation 9 14 and 25 period RSI calculations are most popular The most widely used method for interpreting the RSI is price RSI divergence support resistance levels and RSI chart formations Parameters Source open high low close or volume Peri
23. eters Source open high low close or volume Periods VIDYA VIDYA Volatility Index Dynamic Average developed by Chande is a moving average derived from linear regression R2 Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Because VIDYA is a derivative of linear regression it quickly adapts to volatility Parameters Source open high low close or volume Periods R2 Scale R2Scale is a double value specifying the R Squared scale to use in the linear regression calculations Chande recommends a value between 0 5 and 0 8 default value is 0 65 Volume Oscillator The Volume Oscillator shows a spread of two different moving averages of volume over a specified period of time Interpretation The Volume Oscillator offers a clear view of whether or not volume is increasing or decreasing Parameters Volume Short Term Long Term Points Or Percent output scale type Volume Rate of Change ROC The Volume Rate of Change indicator shows clearly whether or not volume is trending in one direction or another Interpretation Sharp Volume ROC increases may signal price breakouts Parameters Volume Periods Weighted Close Weighted Close is an average of each day s open high low and close where more weight is placed on the close Interpretation The Weighted Close indicator is a simple method that offers a simplistic
24. f measurements Range Trend Line Trend Line is one of the basic analytical charting tools for detecting the principal trend With the Trend Line one can estimate the strength as well as possible trend reversal points Trend lines are possibly the most useful and valuable tool in the study of market trends Trend lines are utilized in chart analysis to determine the slope of the market trend and assist in ascertaining when the trend is changing For the purposes of this explanation up trend lines and down trend lines will primarily be used Up trend lines are drawn under the rising stock chart lows Upward moving trend lines are drawn under the stock connecting the dips to easily target a possible entry point Down trend lines are drawn above the declining stock chart peaks Downward moving trend lines are drawn on top of the stock connecting rallies to easily target a shorting possibility Markets rise and fall at a given slope Trend lines help traders determine the slope of a given stock Trend Lines can assist in determining trends and can also alert you to changes in trend They are easily applied to a chart and once applied can be easily adjusted moved extended or even duplicated FAQ Frequently asked questions D When I try to open an ASCII file I always get following error message SmartChart 1 No file format specified for this file extenstion txt Click on Options gt Ascii File Format Settings to define a format for t
25. fferent To determine what is happening in the current level of resolution the fractal chaos oscillator can be used to examine these patterns Parameters Periods Swing Index The Swing Index Wilder is a popular indicator that shows comparative price strength within a single security by comparing the current open high low and close prices with previous prices Interpretation The Swing Index is a component of the Accumulation Swing Index Parameters Limit Move Value Time Series Moving Average A Time Series Moving Average is similar to a Simple Moving Average except that values are derived from linear regression forecast values instead of raw values Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Periods Trade Volume Index The Trade Volume index shows whether a security is being accumulated or distribute similar to the Accumulation Distribution index Interpretation When the indicator is rising the security is said to be accumulating Conversely when the indicator is falling the security is said to being distributing Prices may reverse when the indicator converges with price Parameters Volume Minimum Tick Value Triangular Moving Average The Triangular Moving Average is similar to a Simple Moving Average except that more weight is given to the price in the middle of the moving average periods Inter
26. from the Signal Periods parameter overbought oversold levels of the MACD and divergences between MACD and actual price Parameters Long Cycle Short Cycle Signal Periods Mass Index The Mass Index identifies price changes by indexing the narrowing and widening change between high and low prices Interpretation According to the inventor of the Mass Index reversals may occur when a 25 period Mass Index rises above 27 or falls below 26 5 Parameters Periods Median Price A Median Price is simply an average of one period s high and low values Interpretation A Median Price is often used as an alternative way of viewing price action and also as a component for calculating other indicators Momentum Oscillator The momentum indicator calculates change of over a specified length of time as a ratio Interpretation Increasingly high values of the momentum oscillator may indicate that prices are trending strongly upwards The momentum oscillator is closely related to MACD and Price Rate of Change ROC Parameters Source open high low close or volume Periods Money Flow Index The Money Flow Index measures money flow of a security using volume and price for calculations Interpretation Market bottoms below 20 and tops above 80 Divergence of price and Money Flow Index are also used Parameters Volume Periods Moving Average Envelope Moving Average Envelopes consist of moving averages calculated from the unde
27. his file extension A SmartChart can practically read any ASCII file But it is necessary to tell the program in which format the ASCII files are You can specify the format in the Options gt Ascii File Format Settings dialog Here is an example how to define the ASCII format correctly Let us assume that there is an ASCII file called Microsoft txt The file contains following records Date Open High Low Close Volume 2005 07 01 24 85 24 99 24 67 24 71 69718392 2005 07 05 24 66 25 19 24 62 24 98 61883500 2005 07 06 24 97 25 08 24 69 24 70 64214600 2005 07 07 24 58 24 71 24 50 24 65 80082896 To display this file correctly you have to make following settings in the ASCII File Format Settings dialog Ascii File Format Settings IET Ascii format for all files with the file extension fot _New configuration Delete configuration Available ASCII fields iv Date Time V Open I High Iv Low Iv Close MV Volume Open interest Unused column 4 Data field order Date Open Hgh Low Coss Volume Use Drag amp Drop to change the order of the data fields Detail settings Column delimiter character Tab C Space s C Oterchaactr Date format YYYY MM DD v Time format HHMM el Skipfirst 24 rows The file Microsoft txt has the extension txt Therefore you have to enter txt in the file extension textbox Furthermore you have to select the ASCII fields Date
28. ice Trading Tools com does not refund the purchases of shareware programs which have trial period 7 If you do not agree with the terms of this license you must remove Smart Chart files from your storage devices and cease to use the product MetaStock is a registered trademark of EQUIS International http www equis com COMMODITY FUTURES TRADING COMMISSION DISCLAIMER Hypothetical performance results have many inherent limitations some of which are described below No representation is being made that any account will or is likely to achieve profits or losses similar to those shown In fact there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight In addition hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading for example the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performan
29. ipse is a non analytical drawing tool used to highlight specific portions of a chart you believe are significant For example Ellipses can highlight a group of bars signifying an upward or downward trend You can also use Ellipses in conjunction with analytical tools For example you might use Ellipse templates to signify what you believe are market reversals You can then apply a study that identifies market reversals to determine if your non analytical interpretation meets the criteria of the analysis technique for market reversals Combining non analytical drawing tools with analytical tools allows you to gauge how well you are able to visually identify market phenomenon before incorporating technical analysis studies in your chart Error Channels Standard Error Channels are calculated by plotting two parallel lines above and below an x period linear regression trend line The lines are plotted a specified number of standard errors away from the linear regression trend line Fibonacci Arcs Fibonacci Arcs are created on a chart by first drawing a trend line between two extreme points a trough and opposing peak Three arcs are generated that are centered on the second extreme point and intersect the trend line at Fibonacci Levels usually of 38 2 50 and 61 8 of the distance between a price maximum and minimum The interpretation of Fibonacci Arcs involves looking for support and resistance as prices approach the arcs Fibonacci Arcs and
30. nalytical tools allows you to gauge how well you are able to visually identify market phenomenon before incorporating technical analysis studies in your chart Speed Line Speed Lines is an analytical drawing tool used to identify the support and resistance of a trend and the price level possible trend correction A Speed Lines tool consists of an underlying trend line on which speed resistance lines are drawn above representing time and below representing price These speed lines are drawn based on time price percentages of the distance between the beginning and the end of that underlying trend line Speed Lines were developed by Edson Gould and are based on dividing an underlying trend line by the percentages specified for example into third 1 3 and 2 3 Speed lines help to measure trend correction and also the rate a trend line is ascending or descending in other words the speed of the trend Tirone Levels Tirone Levels are a series of horizontal lines that identify support and resistance levels They were developed by John Tirone Tirone Levels indicates possible price movements from important highs and lows Tirone Levels displays five lines ranging between the extreme high and lows and the adjusted mean price To draw a Tirone Levels on a chart two points must be defined a point High to which there corresponds a ceiling price and a point Low where price is minimal The price distance between points is accepted for a unit o
31. nt a standard price chart Other indicators can be plotted over the Detrended Price Oscillator Parameters Source open high low close or volume Periods Moving Average Type Directional Movement System The Welles Wilder s Directional Movement System contains five indicators ADX DI DI DX and ADXR The ADX Average Directional Movement Index is an indicator of how much the market is trending either up or down the higher the ADX line the more the market is trending and the more suitable it becomes for a trend following system This indicator consists of two lines DI and DI the first one being a measure of uptrend and the second one a measure of downtrend Detailed information about this indicator and formulas can be found in Welles Wilder s book New Concepts in Technical Trading Systems The standard Directional Movement System draws a 14 period DI and a 14 period DI in the same chart panel ADX is also sometimes shown in the same chart panel Interpretation A buy signal is given when DI crosses over DI a sell signal is given when DI crosses over DI Parameters Periods Ease of Movement The Ease of Movement oscillator shows a unique relationship between price change and volume Interpretation The Ease of Movement oscillator rises when prices are trending upwards under low volume and likewise the Ease of Movement oscillator falls when prices are trending downwards under low volume Parameters
32. ods Simple Moving Average The Simple Moving Average is simply an average of values over a specified period of time Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Source open high low close or volume Periods Prime Numbers Bands Similar to the Prime Numbers Oscillator the prime numbers oscillator was developed by Modulus Financial Engineering Inc This indicator finds the nearest prime number for the high and low and plots the two series as bands Interpretation This indicator can be used to spot market trading ranges Prime Numbers Oscillator The prime numbers oscillator was developed by Modulus Financial Engineering Inc This indicator finds the nearest prime number from either the top or bottom of the series and plots the difference between that prime number and the series itself Interpretation This indicator can be used to spot market turning points When the oscillator remains at the same high point for two consecutive periods in the positive range consider selling Conversely when the oscillator remains at a low point for two consecutive periods in the negative range consider buying Parameters Source open high low close or volume Standard Deviations Standard Deviation is a common statistical calculation that measures volatility Other technical indicators are often calculated using standard de
33. ord The password to access your POP3 account Your email provider will tell you this To set up an email alert go to http news google com Following page will be displayed FAQ Sign in Google Google Alerts BETA Alerts Welcome to Google Alerts Create a Google Alert Enter the topic you wish to monitor Google Alerts are email updates of the latest relevant mum Google results web news etc based on your choice of query or topic Search terms Microsof Type News bd How often as it happens Some handy uses of Google Alerts include monitoring a developing news story Your email keeping current on a competitor or industry getting the latest on a celebrity or event Create Alert keeping tabs on your favorite sports teams Create an alert with the form on the nght You can also sign in to manage your alerts Google Alerts terms of use and privacy policy Google Alerts http news google com In the Search terms field you have to enter the name of the stock that you are interested in Then select News in the Type field and select as it happens in the How often field Finally enter your email address and click on the Create Alert button After you have done that you will receive an email from Google that asks you to confirm the alert If you have already set up SmartChart to read the Google news emails following dialog will be displayed Confirm Google Alert
34. pretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Source open high low close or volume Periods TRIX TRIX is a momentum oscillator that shows the rate of change of an exponentially averaged closing price Interpretation The most common interpretation of the TRIX oscillator is to buy when the oscillator rises and sell when the oscillator falls 3 8 and 14 period moving averages are often used to smooth the TRIX oscillator Parameters Source open high low close or volume Periods Stochastic Momentum Index The Stochastic Momentum Index developed by William Blau first appeared in the January 1993 issue of Stocks amp Commodities magazine This indicator plots the closeness relative to the midpoint of the recent high low range Interpretation The Stochastic Momentum Index has two components K and D K is most often displayed as a solid line and D is often shown as a dotted line The most widely used method for interpreting the Stochastic Momentum Index is to buy when either component rises above 40 or sell when either component falls below 40 Another way to interpret the Stochastic Momentum Index is to buy when K rises above D and conversely sell when K falls below D Parameters 9oK Periods 9oK Smoothing 9oK Double Smoothing 9oD Periods Moving Average Type 9oD Moving Average Type The most commonly u
35. ptrend or resistance when retracing a downtrend Once a support line gives for instance the 2X1 line it turns into resistance and the next one 3X1 turns into support This gives the trader a trading range that is difficult to fathom with the naked eye Gann fan lines work best on medium to long term charts Quadrant Lines Quadrant Lines are horizontal lines which divide distance between High and Low of the period into four equal parts The user defines two points on the price chart and between them 3 Quadrant Lines are plotted For significant results Quadrant Lines should be drawn between a high and low point of price activity on a chart Raff Regression The Raff Regression helps to identify possible areas of support and resistance and helps to identify when departures from the channel may signal potential changes in the price trend in the future Rectangle A Rectangle is a non analytical drawing tool used to highlight specific portions of a chart you believe to be significant For example you can highlight important areas for in depth analysis and demonstration You can also use Rectangle in conjunction with analytical tools For example you might use Rectangle to signify what you believe to be market reversals You can then apply a study that identifies market reversals to determine if your non analytical interpretation meets the analysis technique s criteria for market reversals Combining non analytical drawing tools with a
36. r to your chart click on the Chart menu and click on the Add Indicators entry The Indicator dialog lets you choose the indicator and the inner window in which it should be plotted Indicators Inner Windows olumnHesder l Pnce Oscilator Inner Window 31 Parabolic SAR inner Window 2 Momentum Oscillator MACD Ease Of Movement Drectional Movement System Detrended Pace Oscillator Chande Momentum Oscillator Chaikin Volatiity Aroon Aroon Oscilator Linear Regression R Squared Linear Regression Forecast Linear Regression Slope Linear Regression Intercept Price Volume Trend Performance index Commodity Channel Index Chaikin Money Row Weighted Close Volume ROC Add Indicators dialog The Indicator dialog lets you choose an indicator and the inner window in which it should be plotted You can select one indicator from the Indicators list on the left side of the dialog Pick an inner window in which to plot the indicator from the Inner Windows list on the right side of the dialog The inner windows listed on the right side of the dialog are labeled Inner Window 1 Inner Window 2 etc corresponding with the location top to bottom in the chart If you choose New Inner Window the indicator is plotted in a new inner window at the top of the chart After you have clicked the OK button a dialog where you can set the indicator properties will be displayed Symbol Long Cycle Shot Cycle Signal P
37. rling price shifted up and down by a fixed percentage Interpretation Moving Average Envelopes or trading bands can be imposed over an actual price or another indicator When prices rise above the upper band or fall below the lower band a change in direction may occur when the price penetrates the band after a small reversal from the opposite direction Parameters Source open high low close or volume Periods Moving Average Type Shift Shift is a double value specifying the percentage of shift for each moving average from the actual values Negative Volume Index The Negative Volume Index shows focus on periods when volume decreases from the previous period Interpretation The interpretation of the Negative Volume Index is that well informed investors are buying when the index falls and uninformed investors are buying when the index rises Parameters Source open high low close or volume Volume On Balance Volume The On Balance Volume indicator shows a relationship of price and volume as a momentum index Interpretation On Balance Volume index generally precedes actual price movements The premise is that well informed investors are buying when the index rises and uninformed investors are buying when the index falls Parameters Source open high low close or volume Volume Parabolic SAR The Parabolic SAR was developed by Welles Wilder This indicator is always in the market whenever a position i
38. s closed an opposing position is taken The Parabolic SAR indicator is most often used to set trailing price stops A stop and reversal SAR occurs when the price penetrates a Parabolic SAR level Parameters Min AF accumulation factor Max AF accumulation factor Performance The Performance indicator calculates price performance as a normalized value or percentage Interpretation A Performance indicator shows the price of a security as a normalized value If the Performance indicator shows 50 then the price of the underlying security has increased 50 since the start of the Performance indicator calculations Conversely if the indictor shows 50 then the price of the underlying security has decreased 50 since the start of the Performance indicator calculations Parameter Source open high low close or volume Positive Volume Index The Positive Volume Index shows focus on periods when volume increases from the previous period Interpretation The interpretation of the Positive Volume Index is that many investors are buying when the index rises and selling when the index falls Parameters Source open high low close or volume Volume Price Oscillator The Price Oscillator shows a spread of two moving averages Interpretation The Price Oscillator is basically a moving average spread Buying usually occurs when the oscillator rises and conversely selling usually occurs when the oscillator falls Param
39. s of the selected security Notes tab window You can enter any information you want in the Notes textbox The information that you have entered will be stored when you close the chart When you open the chart the notes will be displayed again Plotting an ASCII File Smart Charts assumes that all ASCII files with e g the extension txt have the same format on your computer Therefore you have to specify an ASCII format for each file extension e g csv prn dly etc To define the ASCII file format click on the File menu and select the Ascii File Format Settings Ascii File Format Settings R Ascii format for all files with the file extension ay Newconfigurabon Delete configuration Available ASCII fields lv Date W Time v Open v High lv Low Iv Close Y Volume Open interest Unused column 4 Data field order Date Time Open High Low Close Volume Use Drag amp Drop to change the order of the data fields Detail settings Column delimiter character Tab C Spaces C Oterchaace lt Date format YYYYMMDD Time format HH MM Skip first 4 row s Ascii File Format Settings Firstly enter the file extension E g txt Every time when a file with the extension e g txt will be opened Smart Chart uses the settings you have specified for this file extension Available ASCII fields Tick the checkboxes corresponding to the data field which you want to include into the format
40. sed arguments are 13 for 9oK periods 25 for K smoothing 2 for K double smoothing and 9 for D periods Average True Range The Average True Range Wilder measures market volatility Interpretation High ATR values may signal market bottoms and low ATR values may signal neutral markets Typical Price A Typical Price is simply an average of one period s high low and close values Interpretation A Typical Price is often used as an alternative way of viewing price action and also as a component for calculating other indicators Ultimate Oscillator The Ultimate Oscillator compares prices with three oscillators using three different periods for calculations Interpretation The most popular interpretation of the Ultimate Oscillator is price indicator divergence Parameters Cycle 1 Cycle 2 Cycle 3 Variable Moving Average A Variable Moving Average is an exponential moving average that adjusts to volatility Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Source open high low close or volume Periods Vertical Horizontal Filter The Vertical Horizontal Filter VHF identifies whether a market is in a trending or choppy movement phase Interpretation The VHF indicator is most commonly used as an indicator of market volatility It is also frequently used as a component for other technical indicators Param
41. ta We resent companies who do this to us so we certainly will not do it to you Click on the link below to make your order on a secure web site You can pay via credit card wire transfer cash or check http shareit1 element5 com product html productid 131029 amp lanquagei eg a Save 60 Euro get one application for free if you buy MLDownloader SmartChart and IndicesBuilder You get these applications for 119 95 Euro instead of 179 95 Euro http shareit1 element5 com product html productid 189955 amp lanquagei d 1 Special discount for MLDownloader and SmartChart If you decide to buy MLDownloader and IndicesBuilder you get both programs for only 99 95 Euro instead of 119 90 Euro You save 20 Euro http shareit1 element5 com product html productid 157010 amp lanquagei 1 a Benefits of Registering e No restrictions on the number of starts e Free updates e Free technical support provided by email Questions usually answered within 24 hours PayPal We also accept orders via PayPal After you have placed your order you will receive an unlock key within 24 hours Go to http www paypal com and log in into your account Click on Send Money Enter info trading tools com in the Recipient s Email text box Also enter your name and the name of the program you want to order in the subject text box Click on continue to complete the order Upgrade If you are a registered user of Smart Chart you m
42. viations Interpretation Major highs and lows often accompany extreme volatility High values of standard deviations indicate that the price or indicator is more volatile than usual Parameters Source open high low close or volume Periods Standard Deviations Moving Average Type Stochastic Oscillator The Stochastic Oscillator is a popular indicator that shows where a security s price has closed in proportion to its closing price range over a specified period of time Interpretation The Stochastic Oscillator has two components 9oK and D 9oK is most often displayed as a solid line and 9oD is often shown as a dotted line The most widely used method for interpreting the Stochastic Oscillator is to buy when either component rises above 80 or sell when either component falls below 20 Another way to interpret the Stochastic Oscillator is to buy when K rises above D and conversely sell when K falls below D Parameters 9oK Periods 9oK Slowing 9oD Periods Moving Average Type The most commonly used arguments are 9 for K periods 3 for K slowing periods and 3 for 9oD smoothing Fractal Chaos Oscillator The chaotic nature of stock market movements explains why it is sometimes difficult to distinguish hourly charts from monthly charts if the time scale is not given The patterns are similar regardless of the time resolution Like the chambers of the nautilus each level is like the one before it but the size is di
43. view of market prices Weighted Moving Average A Weighted Moving Average places more weight on recent values and less weight on older values Interpretation A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator Parameters Source open high low close or volume Periods Welles Wilder s Smoothing The Welles Wilder s Smoothing indicator is similar to an exponential moving average The indicator does not use the standard exponential moving average formula Welles Wilder described 1 14 of today s data 13 14 of yesterday s average as a 14 day exponential moving average Interpretation This indicator is used in the manner that any other moving average would be used Parameters Source open high low close or volume Periods Williams Accumulation Distribution The Accumulation Distribution indicator shows a relationship of price and volume Interpretation When the indicator is rising the security is said to be accumulating Conversely when the indicator is falling the security is said to being distributing Prices may reverse when the indicator converges with price Williams R Williams R measures overbought oversold levels Interpretation The most widely used method for interpreting Williams R is to buy when the indicator rises above 80 or sell when the indicator falls below 20 Parameters Periods Line Studies Ellipse An Ell
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