The Extreme Charts tool produced by BetterTrades comes with five prebuilt templates, giving students the chance to view their stocks in various formats with assorted technical indicators on display. The templates are also customizable, depending on the desires of the user.
All templates are based around the price graph, which gives information about the stock's activity and whether it has been moving up or down. The price graph can be viewed as a line chart, a bar chart, or a candlestick chart. And the charts can be viewed through a short lens, which focuses on recent activity, or a longer lens, which allows the user to go back in time as long as they wish.
Different indicators are included on each of the five preloaded templates that come with Extreme Charts. The templates are accessible through the touch of a mouse or a key.
Template No. 1: This the building block of the Extreme Charts program. It shows price and volume, giving the user a quick overview of where the stock sits. This chart has no indicators, allowing the trader to look for prominent patterns without the pattern being blocked or influenced.
Template No. 2: This is a good template for users who watch channeling stocks. It includes the Stochastics indicator, which shows when a stock may be overbought or undersold, and the volume bars.
Template No. 3: Here's where the user will find the moving averages and MACD indicators. The moving averages can often be used as support or resistance lines. MACD shows trends and hints when the trend may be changing or getting stronger.
Template No. 4: This template is loaded with Bollinger Bands, lines which squeeze together when pressure builds on a stock. The bands separate or react to bearish and bullish pressure. The template also includes RSI (Relative Strength Indicator), which can indicate a reversal of a trend, and cash flow accumulation, which shows when money is moving into or leaving a stock.
Template No. 5: This chart is set up to show the longer-term moving averages, the ones used by major brokerage firms in their technical analysis. It also includes a seasonal indicator that shows how a stock has performed on that particular day during its history.
All indicators on all charts are customizable, depending on the trader's needs. And all information remains on the charts until you actually remove. It doesn't disappear when the program is closed.
