Stock charts overlay program?

[Real Money]

IBKR TWS can do this (natively). TD/Schwab ToS can do this with scripting.

Can find a script here.

https://jshingler.github.io/TOS-and-Thinkscript-Snippet-Collection/TOS & Thinkscript Collection.html

It's under the "C-MULTIPLE INSTRUMENTS COMPARISON" header.

 

[Scataphagos]

Sounds like you're looking for "confirmation from a number of inputs to agree upon a safe place to buy/sell..."

Unfortunately the greater the number of inputs, the less likely you'll find them in agreement.

And while traders (especially noobs) often want and seek "confirmation"... to feel it's safe to make a risk play... there is actually no such thing as confirmation.

The best chance you have (and I've said it perhaps a hundred times) is learn to
Buy Support
Sell Resistance
Chase Breakouts
Trade with stops.

If support/resistance "holds", it means something. Trade on the right side of it.

If support/resistance "breaks", it also means something.

That's "Price TA"... best chance you (or any of us retail screen jockeys) have.

KISS, baby... as always.

Classic example of Price TA...

From the 3800 low, the market was bullish up to 3920... higher highs, higher lows, supports holding on dips.

At 3920, market made "several" attempts to break above, but was met with repeated "resistance". Any technician should have seen this, and known to at least protect long profits and NOT chase upside until 3920 had cleared.

 

[easymon1]

What tool determined the placement of the horizontal lines in this chart?

Classic example of Price TA...View attachment 302204

From the 3800 low, the market was bullish up to 3920... higher highs, higher lows, supports holding on dips.

At 3920, market made "several" attempts to break above, but was met with repeated "resistance". Any technician should have seen this, and at and least known to protect long profits and NOT chase upside until 3920 had cleared.

 

[Scataphagos]

What tool determined the placement of the horizontal lines in this chart?

All had a "support indication" on them while it "weaseled up"... but the one at 3920... that was obvious resistance.

 

[Scataphagos]

Were the "indications" added by hand?
When were the horizontal lines added?
At the red circled indications?

View attachment 302205

1. "Indications" were not added by me. The market formed them as it moved.
2. The "horizontal lines" only acknowledge what the market did.
3. In the most strict sense, all you've circled might have been caught... but I wouldn't expect most players to be tuned-in to that degree. Both of your green circles are good... and of course the red one at 3920... which is the biggie and the one most obvious. I was trying to primarily highlight "obvious resistance at 3920". If someone acknowledges that as meaningful, then perhaps they may be willing to accept "less obvious" as also meaningful. (You learn TA by seeing and accepting some/many obvious setups that work... 3920 here is one of those. Then you might also learn less obvious setups which also work.)

 

[easymon1]

Imho charts can do the work for us of drawing moving averages and pivs which create boundaries.
When price arrives at these boundaries, a trader can pay special attention to the action it displays.
Oftentimes nice obvious moves can emerge.

 

[easymon1]

Classic

Hey man, did you change charting platforms from SC?

 

[Scataphagos]

Imho charts can do the work for us of drawing moving averages and pivs which create boundaries.
When price arrives at these boundaries, a trader can pay special attention to the action it displays.
Oftentimes nice obvious moves can emerge.

View attachment 302212

MAs sometimes work as support/resistance... but in general not as reliable.

 

[easymon1]

MAs sometimes work as support/resistance... but in general not as reliable.

I like em. Did you change chart platforms?

 

[Scataphagos]

I like em. Did you change chart platforms?

No, I still use Sierra