|
Dear Reader,
Welcome to the 22nd edition of my BullCharts
software Tip Sheets, focusing on tips and hints for BullCharts (the
Australian charting software package).
I am sending this Tip Sheet to both the BullCharts users and my Toolbox
Members for interest. If it is of no interest to you, then please just
ignore and delete it.
And some of our BullCharts Tip Sheet subscribers would have received
the last Tip Sheet (Number 21 - March 7) recently because I thought it
would be useful to re-send it to all of the recently new subscribers.
I had originally intended to write these Tip Sheets on a fortnightly
basis, but with the
Weekly
Market Analysis that I do now, and the Weekly email to all my
Toolbox Members, there is not a lot of time left each week or fortnight.
At recent BullCharts User Group meetings there has been some discussion
about the BullCharts IntelliCharts feature, and the occasional glitch.
So I thought I should write something about IntelliCharts in this Tip
Sheet edition.
So, read on!!.....
Make
sure to see The Age on Tuesday this week (27th April). I have
contributed to another of the regular technical analysis articles in
the BusinessDay section working with journalist Lucy Battersby. This
week we are talking about the megaphone, or broadening
wedge chart pattern.
If you can't get the paper, then search for it online. Last time the
article ended up on a number of Fairfax web sites - Brisbane Times,
Sydney Morning Herald, WA News, and others.
Unfortunately there isn't enough space in the newspaper to write the
full text of what I prepared, and to include the two charts; but you
can see it all in
this pdf file.
If you missed my earlier articles, or this week's one, you can see a
list of scanned copies of all past articles, and
view
them here. (Four of us from the ATAA take it in turns to
contribute weekly.)
You might have seen my last contribution a few weeks ago, talking about
the possibility of "Bear Market Twins?" I have
written about that topic in
my Share Market Toolbox.
Don't
forget I am now an authorised BullCharts reseller, offering free
tuition to those who
purchase through me. So encourage others to benefit from using
BullCharts and to visit the BullCharts
section of my Share Market Toolbox web site so they can
benefit from the special offers (my Toolbox is an arsenal of weapons to
help you tackle the share market).
And the Tip
Sheet Archive Section for a chronological list of past Tip
Sheets and the Index
page for a detailed list of the topics covered.
I am
always happy to receive feedback and suggestions for these Tip Sheets
(and my
Toolbox web site). Or if anything in a Tip Sheet is not clear, please
feel free to contact me to ask about it (by email or phone). Or maybe I
have made a mistake, which I will be pleased to correct in the next Tip
Sheet along with an acknowledgement for whoever spots it first.
Please feel free to
send me feedback, or requests for additional topics for these
Tip Sheets or the
monthly eNewsletter eBook Articles.
And now you can follow
me on Twitter.
Good luck with your trading.
Robert Brain (aka Brainy)
(Contact details below.)
Topics in this Tip Sheet edition: |
 |
|
User Group
Meeting Guest Speaker
IntelliCharts - Introduction
IntelliCharts - different time periods
Multiple time periods
Problem with multiple charts/periods
The work around
More information
This TipSheet might look strange?
|
| IntelliCharts - Introduction |
|
|
There is already some good preliminary information
about IntelliCharts in the earlier Tip
Sheet #2.
And my Toolbox Members can see detailed information in some of the
eBook (pdf) Articles. You can see a list of all eBook
(pdf) Articles here (and non-
Members can view the first page of articles), or Members can go
straight to Article
BC-06-100, "IntelliCharts".
|
| IntelliCharts - different time periods |
|
|
Remember that IntelliCharts is turned on by
default. And it will "remember" any line studies, text, annotations,
etc that you put on a chart for a given stock. BullCharts stores this
information in individual disk files, with one file for each stock.
Now, one of the key features of IntelliCharts is that you can either
turn it on full-stop, or you can turn it on "for each time period".
That is, it can store one set of chart annotations for a Daily chart of
a stock, and a different set of annotations for Weekly, and another for
Monthly, etc.
You might wonder why we would want to do this. Believe me, some people
(like me) do have a use for this. Remember that we should not restrict
our chart viewing to just one time period. It is very wise to view at
least two periods, and preferably three.
If you want to store different annotations for each time period, then
change this setting in the menu option: Tools - Preferences -
IntelliCharts (tab) so that "Save different IntelliCharts for
each time period" is turned on. This is not the default setting.
|
| Multiple time periods |
|
|
Okay, now you might have a BullCharts Workspace
set up to easily display a couple of charts of the same stock at the
same time (using the Synchronise Chart Windows
feature), perhaps on a second screen (using the Floating
Window feature).
[If you are not using the Workspace feature, then see Tip
Sheet #18 for details.]
And/or you might have these two charts set to display different time
periods - Daily and Weekly, or Weekly and Monthly. This is good
practise, and this will work fine. Even three or four charts of the
same stock.
This will work PROVIDED the time period for each displayed chart is
DIFFERENT, AND PROVIDED you change the setting in the menu option (see
notes above).
|
| Problem with multiple charts/periods |
|
|
Let's say you might like to have two chart
price panes of the same stock, and the same
time period - perhaps weekly. You might do this so that you
can see a couple of different indicators on the separate charts so as
to keep the views simple and easy to read.
BUT, if you do this, IntelliCharts will NOT work properly.
This is because when you put a line or chart tool or text onto one of
these chart windows, IntelliCharts won't know which chart is the one to
use to record the annotations. It can't handle two charts of the same
stock and same time period.
For IntelliCharts to work properly, you can only have one price chart
displayed of a specific stock for a specific time period. If you have a
second chart of the same stock and same time period, then IntelliCharts
will work sometimes, and not other times. It depends on which window
pane is the "active" window. (But you can have another chart window
open of a different stock if you want.)
|
| The work around |
|
|
Okay, so what can you do if you want to have two
charts of the same stock and same time period? Well, you shouldn't try
to use IntelliCharts. You should turn this feature off (see above for
the menu option).
The other way to store text, line studies and annotations for a stock
is much the same as when you save a word processing document - use the
menu option File - Save, and save a file to disk.
You will need to assign a name to this file, and indicate a specific
folder to store it in.
I use this feature a lot, with IntelliCharts turned off most of the
time. I use a filename that includes the stock code. For example, I
store a chart file for BHP and I call it BHP1. And the BullCharts
software happens to add a file type (file name extension) with the two
letters "bc", so the complete filename becomes "BHP1.bc".
Why do I insert the digit "1" as well? Because I have a couple of
different saved files for each stock. But more about this another time.
To make it easy, make sure to select a specific folder to save these
files. I use a folder called "My Charts", and I have it as a sub-folder
in the BullCharts folder. This makes it easier to backup the files when
I backup the various BullCharts files (custom scans and indicators,
etc.).
More information about this feature (BullCharts File Save As) is
included in Tip
Sheet#2.
|
| More information |
|
|
More details on some of the topics in these Weekly
Tip Sheets are included in Brainy's
Monthly eNewsletters that are now bundled into Brainy's
Share Market Toolbox Membership privileges. Feel
free to click on the relevant link at right to view samples and more
details.
These Tip Sheets for BullCharts* users are intended to be short, quick
grabs of information. They are not a replacement for the monthly
detailed eBook (pdf) Articles, which cover these same topics but in
much more detail. The eBook Articles also cover Technical Analysis and
Share Trading topics.
Also see the BullCharts on-line help (in BullCharts, hit the F1 key),
and the relevant User Guide Chapter for more details (this is supplied
with the software and copied to your hard drive as a PDF file).
Note: Any screen shots shown in this newsletter are snapped from
BullCharts version 3.8.6.
FEEDBACK? - I am very keen to receive feedback about these weekly
BullCharts Tipsheets. Please feel free to email me with comments, or
suggestions. Contact details are included below.
* - BullCharts
is: "...an innovative charting and technical analysis system.
It provides a feature rich and powerful set of tools with access to the
latest strategies from local and overseas authors in analysing the
dynamics of the stock market."
|
| This TipSheet might look strange? |
|
|
This TipSheet has been composed in HTML and
distributed using an online service, and is
intended to be viewed in HTML (ie. web language) format. Some parts
might look a little strange, especially
if you are viewing a basically text-only version. I am
working on a text-only version.
We have also found that some web-mail clients
(eg. Hotmail and Yahoo mail) can mess up some aspects.
Please feel free to send me feedback if
anything looks strange.
Good luck with your trading.
Robert Brain (aka Brainy)
|
|
|
User
Group Meeting Guest Speaker
|
|
|
|
At this week's User Group meeting we will have
Stuart McPhee as our guest speaker.
Stuart's topic will be "Developing a Simple Trading Strategy".
Stuart is a well-known trader, educator and book author, and is based
in Melbourne. He speaks at a variety of functions in Australia and
overseas, including various expos, and conferences.
For background information see
Stuart's web site, and in particular his About
Us web page.
Stuart will also have copies of his latest book for sale (autographed),
"Trading in a Nutshell" - more
details here.
|
|
