Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Holy Lord, Better Labels

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The Labels featured, introduced very recently, has become a favorite element of the SlopeCharts product. I am pleased to let you know of two more time-saving improvements.

First of all, when you are using the Rapid Labels function, you may find that you want to use a label that doesn’t exist yet. In this case, you would have had to (1) leave Rapid Labels (2) gone into the Labels Editor (3) added the new label (4) left the Labels Editor (5) gone back into Rapid Labels (6) scroll down and find out where you left off (7) add the just-created label.

Pain in the ass, right?

Not anymore. You want a new label? Just type it in! Not only is it created instantly, but it is applied to your current symbol.

addnewlabel
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NEW: Rapid Labels

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Although the SlopeCharts Labels feature was introduced only a week ago, we’ve already made a significant improvement.

If you have a large number of ticker symbols upon which you want to apply labels, it can be extremely time consuming. Using the mouse and the menus to apply a label to a ticker from time to time is perfectly good, but if you want to do them “en masse“, it can be extraordinarily tedious. We thus created a faster means to accomplish this: Rapid Labels.

To use this feature, choose this item by right-clicking any ticker symbol:

LabelChoice
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Wilders Average True Range (by Vittorio)

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ATR is a tool in every charting program (including SlopeCharts) that will calculate the most recent average true range of price based from the past 14 time intervals. When transitioning from calm to volatile market conditions, ATR will expand with price volatility. And conversely, it will contract during periods of price contraction.

You can go into the setting of the ATR and increase or decrease its length. I tend to visually look back twenty to 30 intervals manually, (by eye), yet set the ATR to the length 14 intervals. Consider this measure as a tool to measure a decent second target. A 14 interval ATR is specifically based on the interest in a healthy second target in anticipation of price volatility. Yet if price is contracting for more than 14 intervals and about to break out, length 14 will not reflect the most optimal second target price. That is why your eye looks to the left to recognize price potential. At some point, hopefully, you will learn that ATR is similar to training wheels when learning to ride a bike.

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Label Day Weekend

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As usual, on Labor Day, I am at labor. And, joyfully so, because I love my Slope, and I love my Slopers. And I am delighted to roll out to you the very last feature from the dearly-departed former creation of mine, ProphetCharts, which I had always wanted to also have in SlopeCharts: labels.

Good organization is a way to keep your trading world well-managed and opportunistic. SlopeCharts was built to appeal to well-ordered, well-organized traders, and there are multiple ways to assemble, gather, and annotate both tickers and charts with information that will help you toward this goal.

One vitally important method is Labels: that is, the ability to create, in an ad hoc fashion, and apply any labels you see fit to any particular ticker symbol. Several things should be noted about this feature:

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