How to setup best stock charts
to find most profitable trading opportunities
Tips for better stock charts technical analysis
I want to use best stock charts layout for my trading needs. As my stock and ETF Trading strategy is based on stock charts technical analysis it is important to use best realtime stock charts and historical stock charts, too.
Analysis of stock market situation and stock exchange graph for any market symbol is key for profitable results of my swing trading strategies and also for my position trades. My personal experience from my trading career defines that I have to trade with trend direction. Every time I have tried to trade against the trend in particular sector or exchange I was beaten.So I pay a lot of attention to analysis of stock market situation. I tested several different layouts for all short and long term stock charts I analyze before I set best charts layout on monitors of my trading computer. As I mentioned I divide my work into
two different roles.
I am analyst who use historical stock charts to identify best stock pick and ideal ETF stock picks for best trading opportunities. The analysts role prepares best daily stock picks for my second personality - the trader. I , in analyst role, use stock market analysis software - I like
Amibroker platform
very much. It can be set as I wish.
How to set stock index charts layout
in stock market analysis software
First I want to see stock index charts as these help me to see big picture. As I monitor especially US Stock markets I prefer to see stock index charts of Nasdaq Composite index and S&P 500 Index. These two indexes cover almost total US Stock market space.I want to set up my historical stock charts for analytical purposes. I need to see major
support and resistance
levels and if stock market is in
trend
or not. It means that I have to see more then one time frame. The best way is to set three different timeframes to see more then your main time frame. The main time frame is based on type of
your trading
, it can be daily for swing trader or weekly for position trader. I want to have my trades as swing trades and position trades so I set my stock index charts into these three time frames: Daily , Weekly and Monthly. It allows me to see major support and resistance levels. Please understand that recognizing of support and resistance is core know-how for good
stock chart analysis.
Here is example of my daily chart.
Example of best charts layout
for analysis of stock market indexes
I set all three time frames together to see the big picture. Here is screen shot of my monitor where I have set all stock index charts I use for stock charts technical analysis. Please click into the chart to see it bigger.
As you can see on the stock index charts above I want to have them relative simple. I do not use too much indicators, I use candlestick charts. It helps me in my
reading of stock charts
procedure and make my life as analyst , trader and portfolio manager much easier.
Best charts layout for shares and ETF analysis
The similar setup then I use to set up three best stock charts for individual stocks and ETFs. This is picture of my layout I use for analysis of stocks or exchange traded funds I do regularly. This analysis is key step to find
best stock or etf for trade
for any trading day.
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