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Top 4 Stock Charts Every Trader Should Know

Top 4 Stock Charts Every Trader Should Know

Do you want to take charge of your investing?
The best way to do so is to equip yourself with the necessary tools. Stock charts are an excellent resource for traders and investors. Stock charts allow you to analyze price action, find the best levels to trade off of, spot trends, and much more.

With the Profit Builder app, a powerful trading algorithm works with various factors such as historical price data, essential technical indicators, and current market conditions to analyze the markets. The app can easily be used by expert and novice traders to access and trade the various digital assets with ease and convenience.

However, charting software can be quite costly, so we went ahead and researched all of the best free stock charts for you!
Want to know more? Then keep reading!

What Exactly are Stock Charts?

Stock charts are visual representations of a stock’s price action over time and at different prices. The x-axis shows time, which indicates when the trades were executed, and the y-axis shows prices, which indicate what prices were traded.
You can add a variety of indicators to your charts, such as volume, moving averages, stochastics, or Bollinger bands.

This is a price chart that displays stock prices as well as other pertinent information such as the stock symbol, price change, and net change. The data is plotted over a time period, such as a day, week, or month.

Charts are classified into three types. You have the following:

  • A line chart is used to plot a stock’s closing price.
  • 3 to 4 price points tracked by a bar chart.
  • Candle and stick chart (most popular) – employs four types of price data to provide investors with accurate price action information.

How to Interpret Stock Charts

If you want to trade stocks, you should learn how to read stock charts. They may appear to be a little intimidating at first, but once you get the hang of them, they are very simple to understand.
The first step is to become acquainted with the interface.

When you open a stock chart for a specific company, such as Google, a plethora of data appears on your screen. The company name (Google), ticker (GOOGL), open, high, low, and close will all be displayed. You will also have access to volume, market capitalization, and buy and sell data.

The bar chart will be used in this example. The green and red vertical bars strewn across the graph represent stock price changes. Each vertical bar represents the stock’s highest and lowest price. A tall bar indicates that the price was volatile, whereas a short bar indicates that the price movement was less volatile. The bar is red if the price was lower at the end of the interval than it was at the beginning. It is green if the stock price increased during that time period.

You can change the time interval at the bottom of the chart. You can choose between a shorter and longer duration. When you choose a one-day interval, the bar chart will show the stock price range for the entire trading day.
What you should know is that weekly charts show long-term trends, whereas intraday charts show price action within a single day. You can have time frames as short as a minute or even tick charts for extremely fast price action.

What Should You Look for in Stock Chart Software?

Do you want to know how charting software can help you find winning stocks? For day traders, charts serve as a gateway to the markets. Traders have access to a wealth of market information thanks to the numerous features available with stock charts.

Here are some things to think about when looking for stock chart software:

Lines – Is the stock chart software capable of displaying vertical, horizontal, and trend lines? When it comes to analysis, lines are crucial. For starters, they assist you in determining levels of support and resistance. They also aid in the identification of trends.

Symbols – The best stock chart software should include a good symbol library that allows you to load images as symbols. It should also let you mark signals with symbols like exit long, buy, exit short, and sell.

Line studies – good software should include pre-built line study support. Gann Fans, quadrant lines, Speed lines, Raff Regression, and Tirone levels are among them.
Drawing tools such as shapes, rectangles, and ellipses enable you to highlight specific price action.

Other factors to consider include an easy-to-use interface, technical indicator support, support for various chart layouts, color, fonts, and Fibonacci studies.

Top 4 Stock Charts Every Trader Should Know

1. Tradingview

If you value stock chart software that provides excellent technical and fundamental analysis, we recommend Tradingview. The software, designed for day traders, allows you to discover investment ideas and learn from the community.

Simple and straightforward, with no complicated setups or installations required. You can get started right away by accessing browser-based charts with real-time data. Tradingview, like most stock chart software, is free to use, but to access advanced features, you must upgrade.

Tradingview has the following features:

  • Various chart types
  • Spreadsheets
  • 50+ intelligent drawing tools for advanced price scaling
  • Various chart layouts are available.
  • Server-side notifications
  • Stock screener
  • Multiple brokers are supported.
  • Personalized technical analysis
  • Market data coverage is extensive.

Asides accessing advanced features, upgrading to Pro ($12.95/mo), Pro+ ($24.95/mo), or Premium ($49.95/mo) grants you ad-free access. You also have access to the Tradingview social network, where you can learn from other members of the community.

2. Stockcharts.com

Not only will Stockcharts.com help you see markets more clearly, but it will also help you find new opportunities and improve your portfolio management. Millions of day traders and online investors around the world rely on StockCharts. Why? It generates high-quality financial charts in a matter of seconds.

You can also use larger and more advanced charts, as well as custom scans, to find winning stocks. You can also set up automatic alerts and receive daily market commentary from industry experts.

Try StockCharts for free for one month, and if you like how it works, you can upgrade to Basic ($14.95/mo), Extra ($24.95/mo), or Pro ($39.95/mo). StockCharts has several award-winning features, including:

  • The most recent winning chart
  • Intraday data in real time
  • Additional indicators and overlays
  • Using ChartLists, you can organize charts.
  • Intuitive Dashboard for members
  • Sophisticated technical scanning
  • Customized alerts
  • Market commentary from industry experts

You do not need to download or install any software to use StockCharts. Everything is accessible through a modern browser on a laptop, desktop, tablet, or smartphone.

3. FinViz 

Financial Visualizations is a free stock chart software that hasn’t changed in a long time. It includes a stock screener that allows you to screen for stocks based on a variety of technical, descriptive, and fundamental metrics. It also provides useful information such as quotes and up-to-the-minute news.

Aside from the stock screener, there is a heat map with S&P 500 index stocks organized by industries and sectors. You can switch from the map to bubbles if you want. FinViz also offers data on futures, forex, and cryptocurrency.

Although FinViz is an excellent tool for advanced day traders, it does have some limitations. To begin, users are limited to using drop-down menus with pre-specified ranges. As a result, you cannot select or enter values. Second, you cannot export results unless you subscribe to FinViz’s Elite service ($24.96/mo).

FinViz Elite users have access to the following features:

  • Quotes in real time
  • Data from the pre-market
  • Visualizations that are advanced
  • Backtesting
  • Advanced screener
  • Notifications and alerts

The good news about FinViz is that it can assist you in making sound stock selection decisions.

4. Yahoo! Finance

One of the most popular stock charts is Yahoo! Finance. Designed with an intuitive interface, it offers free real-time quotes for NASDAQ listed stocks and the New York Stock Exchange. It also provides free interactive charts and a selection of over 100 technical indicators.

Traders can create an unlimited list of stocks to follow. You can even connect your Yahoo!

Finance account to your brokerage account. This will allow you to execute trades based on your well-thought-out strategies.

Try Yahoo! Finance Premium for more features. A free 28-day trial allows you to try out advanced features such as:

  • Exclusive data and insights
  • Charts and tools for advanced users
  • Data visualization that is intuitive
  • Portfolio analytics at its finest
  • Charting enhancements for technical and event analysis
  • Ad lite encounter
  • Desktop live chat

Yahoo! Finance Premium costs $34.99 per month or $349.99 per year.

In Conclusion

To become a serious trader, you must first understand how charts function. This entails becoming acquainted with trend lines, technical analysis, and support and resistance levels. Learning how to use stock chart software will also help you identify profitable stocks and trends.

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