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Trading True Movement with Range Charts
Technical Analysis Topic: Range Charts
The most common chart types will provide a bar for a time increment. For example, on Market Pulse we focus on the daily timeframe. But there are other chart types that only print a bar when price has moved a certain amount. These are referred to as Non-time based charts, and one of the most popular non-time based chart is the Range Chart.
Range Charts print bars based on a price range. For example, you could have a Range Chart that will complete a bar once price has moved 2%. Or you could have a Range Chart that prints bar if the security has moved $1. Since Range Charts print bars based on movement, they help eliminate noise and show true price movement.
Stocks To Watch with: Ichimoku Cloud Module Part 2
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Trading Breakouts with the ICM Breakout Strategy
New Dimensions in Chart Analysis
“The Chart Tells All” is a common phrase used by technical analysts. This basically means that all of the information and rumors in the market are reflected in the price chart. Most chartists gains insight into the market by using bar charts and candlestick charts.
But other types of charts can help us remove “noise” from the market. For instance, Heikin-Ashi charts smooth data over the last two bars in order to help us determine trend direction and potential reversals. Other charts remove the time element from the chart for more clarity. For example, range charts only form a new bar when price has exceeded a predetermined range.
While these less common chart types are not as popular to as bar or candlestick charts, they can help us see the market forest for the trees, and enhance our analysis skills.
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What is Market Pulse Dot Live (MPL)?
MPL is complementary content about trading the current market with some technical analysis education too.
A typical show covers the following topics:
- Overview of Today's Broad Market
- Summary of Groups on the Move
- Technical Analysis Lesson
- Stocks to Watch
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Join us every Monday and Wednesday at 5:30pm EST.
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Nirvana Systems has been creating Trading software since the 1990's. Nirvana was founded on the concept of automated trading, our CEO, Ed Downs, fell in love with the potential profits offered by the markets but quickly realized that emotions were getting in the way of success and it was too difficult to find good candidates. Nirvana Systems has been creating software that automates Trading ever since.
