How’s that for a headline to get your attention? But it’s warranted. (Be sure to hit Ctrl-F5 when you get to the SlopeCharts page to get this majorly-revised version of the program.) Anyway, we’ve made an improvement which, for a visual lunatic like me, is worth about 25 new technical indicators.
SlopeCharts has the ability to create blank space in any of four directions. This feature is unequalled by any other charting program, particularly considering how easy it is to use. All you need to do to modify the chart to your liking is click the multi-arrow icon in SlopeCharts:
When you do, a new dialog box will appear with four slider bars. The bars let you control, from top to bottom, the amount of price data above current price levels you want to see, the price data below the minimal price levels, the time before your chart appeared, and the time after your chart data ends. Having the ability to stretch both “time-space” and “price-space” is invaluable to good visual analysis.
This simple animation shows a brief example how it works. Note in particular how, as you are dragging the slider bars, you are permitted to see precisely what effect you are having on the chart itself. This is yet another way SlopeCharts is superior to cruder chart offerings.
If the amount of space you are provided is strictly confined to the prices and dates that constitute the chart itself, you may find this to be very confining in your ability to anticipate the probability of future outcomes. Even a small amount of “breathing room” makes a tremendous difference in, for example, what trendlines are projecting in the near future.
The same applies to Bollinger Bands (and other studies), which would be “chopped at the top” (or the bottom) if you couldn’t create white space around the chart.
The degree to which you can “stretch” the chart palette will accomodate any reasonable needs. For example, if you drew a Fibonacci Retracement and wanted to see what price level the Fib-Extension went to, you can assess this effortlessly with all the extra white space you have defined.
The simplest way to understand the function and how it lets you alter the chart to your own benefit is to simply use the function. It is instantly intuitive, and once you are pleased with the chart format you have shaped for yourself, our servers will retain your setting so that it will retain that appearance until such time as you elect to alter it again.