Tuesday, December 29, 2009

Nice Way of Organizing Price and Technical Signal Data

I notice that the beta version of Barchart.com (for subscribers) has a new "Trader's Cheat Sheet" feature that plots prices for any stock, ETF, or futures contract on a vertical ladder, along with pivot-point based support and resistance levels; 4, 13, and 52 week high and low prices; and the prices at which particular technical indicators would provide signals.

It's a nice way of organizing price level information; I'll be playing with it in the days ahead and reporting on any findings. Above is part of the cheat sheet for the S&P 500 Index (SPY).


Markus said...

Looks like every price point becomes important - a little bit to much for my taste. Wouldn't it be more preferable to concentrate on two or three important levels?


kevin said...

Good point Markus. i do a similar spread sheet myself each day with fibonacci and pivots levels. both above and below the market. i look for levels where numbers cluster. if i am in a day trade and one of the significant levels is in front of my predetermined exit...i alter my exit price. also, if i have a couple of possible entries on a trade but one is at or near a "cluster area"....i will opt for the entry near the cluster. lastly, these cluster areas are good for hiding stops behind. i hope this helps. you are right..need to be careful of too many numbers clouding things

Y said...

Very nice indeed, this example is loaded with too many levels bus Im sure you can customize it, the idea is cool.

Y said...
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