Posts Tagged ‘Charting Software’

Finding True Performers in the Market

Friday, September 30th, 2011

I was talking to some traders recently who were upset that the companies they held were not doing well. At the same time the markets were lower and the question I was asked was how much the market was influencing the performance of the shares. Fortunately there is a very simple way to answer that question using Market Analyser and the Overlay Security function.

A rising tide is said to lift all boats, so if the market is going up most shares go up and when the market is falling most shares go down. The overlay allows us to pick out the true performers by comparing their performance to the market.

The Overlay Security feature in the Market Analyser software

From the Standard Indicators list, click on Overlay Security, then type in the XCode of the security you want to compare to. .AXJO is the Aussie 200 index which is representative of the Australian market. You are not limited to comparing your shares to the market as a whole, you could compare your shares to the sector, gold or even another share.

Overlay of BHP and the XJO in Market Analyser

In the overlay chart above of BHP versus .AXJO you can see that BHP follows the index very closely. This is hardly surprising given that BHP makes up 15% of the index, so a move in BHP will have a significant impact on the index.

Consider the performance of some other shares that have recently featured in the ASX Company News section of the Trader Dealer blog.

Overlay of Castlemaine Gold and the XJO in Market Analyser

Castlemaine Goldfields (CGT) was certainly outperforming the market strongly through July and August, but currently is falling in line with the market.

Overlay of Sedgman and the XJO in Market Analyser

Sedgman (SDM) fluctuated between strong outperformance in August to underperformance during late September.

Overlay of GoConnect and the XJO in Market Analyser

GoConnect (GCN) is currently outperforming the market quite nicely.

We can compare sectors to the index as well and the two strongest performers at the moment are the Health Care and Consumer Staples sectors. These sectors are considered defensive, with investors buying into these sectors when they fear that the economy is weak, because regardless of how bad things get we all have to eat and when medical attention is required it is not usually a choice.

You can use the Overlay Security tool in Market Analyser to strip away the forest so you can examine the trees that are ripe for harvesting.

By Jeff Cartridge
Education Manager

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Profit plunge for Myer, but then again…

Thursday, March 11th, 2010

The cost of floating on the ASX has resulted in Myer posted a depressing 74.4% decline in first-half profit.

Profit for the period fell from $83.2 million to $21.3 million. On the other hand, if the IPO expenses are taken out, Myer actually increased profit by 38% and increased revenue by $1.8 billion. Not bad going.

Myer Share Price

Myer Holdings
ASX Code: MYR

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In the Engine Room: Customising the Look and Feel of Market Analyser

Wednesday, June 17th, 2009

Within Market Analyser you can customize the look of any chart by changing the colours, lines, grids, scales and data settings. This way Market Analyser can be set up to meet all of your individual preferences.

Customise Charts

To get started, open a chart using the Menu button, or click on the chart button on the top toolbar of Market Analyser.

Then to modify the settings right click on the chart and click Chart Properties. This brings you to the menu where you can modify the look and feel of the software.

The first set of parameters that can be altered are related to your data settings. You can choose to display non trading days or alter the timeframe of the chart you are viewing. The buttons to the left of the menu bar at the top of the chart allow you to switch easily from intraday to daily, weekly and monthly views, but the chart properties allow you to set the intraday time period to display. Setting a cap on the data that is loaded can speed up the displaying of charts as less information is downloaded each time you wish to view a chart.

Scroll down the menu and you can add a grid to the chart and change the colours of all aspects displayed, including the price, text, axis and the background. This allows you to customize the chart to your own preferences. And near the bottom of the menu you can alter the scaling options of the chart as well. Select your preferred colour scheme and click Ok to apply the changes.

Once you have the chart looking the way you want it, you can save this as a template. This template can then be applied to any share that you wish to view. There is no facility to apply this setup to every chart or template that you have created. Each template must be saved individually.

Customise Tables

In a similar way tables, such as watch lists or options tables can be modified by right clicking on the table and selecting the parameters you wish to alter. To alter just one column you can control the font and the colour of the text and the background colour by using the Column Colours menu. But to change the overall look of the whole table you use Appearance Settings.

To customise the table when you select the Appearance settings tab you will first be required to remove the tick from the Use Default Settings box. This will allow you to alter the parameters shown below. This includes the colours of the tables, displayed positive or negative moves and the fonts.

Altering these parameters allows you to customise the table to display it to suit your individual preferences.

If you do not like the end result it is a simple matter to restore the table to its original appearance. Right click on the table and click Appearance Settings. Click on the box that says Use Default Settings and click Ok to return the table to its original status.

With Tables it is possible to set the global template and then customise individual table settings or apply the global template settings to each table. To setup the global settings go to File, Parameters and Change the Global Settings.

Conclusion

Enjoy the flexibility offered by Market Analyser to customise the platform to suit your individual requirements. Market Analyser provides the flexibility for you to stand out from the crowd in your own unique way.

By Jeff Cartridge
Education Manager

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In the Engine Room: Customising the look and feel of The Bourse

Tuesday, May 19th, 2009

The Bourse is customisable in many ways and you can set up your screens to have whatever colour, fonts and layout that you want. Let s go over the main items to keep in mind.

Modify Colours

Once you understand how to modify colours for one screen you can apply the same procedure for everywhere else in The Bourse.

Let s modify the colours of a chart to start off with.

  1. Open a new chart and load a stock code.
  2. Once the chart is loaded then select Candlestick from the bar type drop down.
  3. With the mouse right click on the chart and select Color/Grid Preferences
  4. The first item to remember is that the left and right buttons on your mouse are used to select the colours from the Colour grid.
  5. Background colour: right-click
    Foreground colour: left-click

  6. As an example, change the background colour of the chart. Do this by right-clicking on the colour grid and selecting the colour you want.
  7. The background colour of the chart will be changed once you click on the OK button.
  8. You can also select the type of grid lines that you want on your chart or simply switch them off.

  9. Once you have made some changes, you can save the changes as a Colour Preference Scheme. This is done by clicking on the Save as button. Note: you do not have to do this for the colour changes to take place. However, doing so will keep the default colour scheme that came with your installation of the Bourse as original.
  10. To save a colour scheme, click on the Save as button and the following window will be displayed allowing you to enter in a scheme name. Give it a name and click OK.
  11. If you save a colour you can simply select it by using the Preference schemes drop down selection box.

Change colour of multi-part chart tools

As an example of a chart tool that is made up of multiple colours, let s look at changing the colour of the OHLC bars on a chart.

The default colour scheme that installs with Bourse has OHLC bars as green for bullish days and red for bearish days. The term bullish is this case refers to days that have a higher close than the previous close and visa versa for bearish.

One thing that you take into account with colours is the representation of what a certain colour means to you. For example, green means profit and red means loss. However, when going short on the market you want to see lots of red on the chart. Maybe you can remove this emotional association by selecting different colours.

For the purpose of selecting an example, let s use two differing colours for the higher and lower closing price days.

  1. Right-click on the chart and select the Colour/Grid Preferences item.
  2. To find an item quickly in the elements box click the mouse pointer anywhere in the box.
  3. Now type the first letter of the element that you are trying to find. In this case OHLC, so type in an O .
  4. The first item in the list, that s starts with an O, happens to be OHLC, the chart element that we are looking for.
  5. The two arrows above show the two colours for the bullish day and the bearish day, when you first do this these colours will be green and red, respectively. Click on the top colour box, this is the colour for the bullish bar colour, then left click your mouse pointer on the colour that you want for the bullish day.
  6. Do the same now for the bearish day. However, first click on the bottom (lower) colour box.
  7. Finally click on the OK button to make your changes permanent.

Change colour of multiple indicators of the same type

On many occasions you want multiple copies of the same indicator on the chart (eg. a multiple moving average, or multiple Bollinger bands etc.)

The Bourse allows you to do this and to allocate a different colour to each. Let s do an example of how you can have 4 different colours for 4 moving averages on a chart.

  1. Once again right-click on the chart to select the Colour/Grid Preferences menu item.
  2. Find the Moving Average element (remember – click in the element name box and press the m key on your keyboard. You will have to press it twice.)
  3. The 8 boxes at the bottom indicate the 8 different colours that you can have for moving average lines on the chart.In our example we will have 4 moving averages and we want the same colour to be used every time that we apply our 4 moving averages. Each colour box above represents the colour of a moving average; therefore, you should make the first 4 colours different, then the next four colours the same as the first 4. Confused?

    The colour in boxes 1 and 5 should be the same, just like the colours in boxes 2 and 6, 3 and 7 and finally 4 and 8. So your colour boxes should look like this

  4. Now when you apply your 4 moving averages they will always appear in the same colour sequence.

Changing Font

Changing font is very simple and is the same on nearly every screen in The Bourse.

  1. Right-click on any screen and select the Font menu item. This will display the Font dialogue box.
  2. This is a standard MS-Windows font toolbox and selection of font style is quite simple.
  3. Modify Screen Layout

    The modify layout function in The Bourse is quite comprehensive. Each screen type has a different layout feature set that can be modified.

  1. To modify the layout of a screen, simply use the right-click function on the screen and select Modify Layout from the menu. Depending on the screen you are viewing, the following will be displayed.
  2. The layout dialog box will allow you to add, remove or change the order of columns on the watch list, market depth, options, warrants and futures screen, and also trade history. In fact, any screen that uses a grid layout will use the following.
  3. Some key items to note about the above. Let s assume that you are making this change for a watch list. The Default Template check box, which is circled above, allows you to save this layout for all watch lists. That is, it will become the default template that is used for all watch lists viewed from this moment on. Place a tick in this box if you wish for this to happen. However, if not ticked, then the changes you make will only affect the current one.
  4. To change the order of the columns, simply click on the column name, under the Selected items section and then click on the up and down buttons below the list.

By Jeff Cartridge
Education Manager

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