Stock chart time frame setup

for stock chart analysis

The default time frame for your stock chart analysis is based on your type of trading.

But whatever style of trading you have, stock day trading, swing trading stock or position stock trading, you must analyze more than one type of chart.

Any time you analyze a stock chart, you need to see important levels of support or resistance. If you look into one stock chart time frame only (say, a daily time frame) and omit others, you are making a big mistake!

There is a solution.

Use three different stock chart time frames for your stock chart analysis.

• Your main time frame (like daily)
• One time frame with a longer scale (like weekly)
• One time frame with a shorter scale (like hourly or four hours))

There are two reasons:

1. You will see important support and resistance levels on a larger scale than your basic one.
   
2. A smaller time frame will help you fine-tune your entry point and stop loss level for your stock trade.

1. Daytraders
   
   
   • Basic chart .... 15min , 30 min, hourly
   • Longer one ... 240 min (4hours), daily
   • Shorter one ... 5min , 15 min


2. Swing traders
   
   
   • Basic chart .... daily
   • Longer one ... weekly
   • Shorter one ... hourly or 240 minute (4 hours)
   
   
3. Position traders:
   
   
   • Basic chart .... weekly
   • Longer one ... monthly
   • Shorter one ... daily or 240 minute (4 hours)

I have all my charts on a large monitor (1900x1200 px) on my trading computer. My stock chart analysis software is set to have more charts on one screen. Here you can see my chart setup for stock chart analysis.

But you can have this set also on two monitors. If you have a 17-inch LCD monitor (1280x1024), then I recommend you use two monitors as a minimal multi-monitor stock trading setup.

My multi time frame stock charts tip !

There is a good description about analysis of more than one time frame in the trading book from Alexander Elder, Trading for a Living in the section about Triple Screen Trading System.

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