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Thursday, February 01, 2007

Excellent Charting Tool: QuoteTracker

Move The Markets started the ball rolling by doing a very comprehensive write-up on Quotetracker's Paintbar function and how to set it up. I have to agree that QuoteTracker is a really value for money charting tool, costing only $60/year and with loads of indicators and features. I was talking about this to my friends just last week. I've been using it for quite some time, although we chanced upon the PaintBar function only about a month ago. The Paintbar function is what I like best and most useful for day-trading. You can add some simple programming to customize your requirements e.g. the 3rd consecutive higher close bar can be indicated with a star on top and you can also put in alert when such bar occurs. So you don't really have to stare at the screen all day long to wait for the setup. And you can have different alert tunes, lol. I myself have different ones for market internals (TICK and TRIN) and for stocks alert.

And if you have read John Carter's Mastering the Trade, you can also look at the stock chart using tick bars, i.e each bar is only formed when certain # of trades are executed. There is also a forum where traders exchange ideas on how to do the programming. But you need to have a trading platform e.g IB, OX so that QuoteTracker can link up the data feed.

Enough said. No referrals for recommending this on my part. Do take a look at Move The Market's post.


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