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Since I don’t trade the futures markets, I have been monkeying around with the site to while away my time as I wait for the opening bell tomorrow. I created another really powerful example of a Layered Chart that I wanted to share with everyone.
What I did was chart $BIGSUM which is the summation of advance/declines and plotted it against the S&P 500 cash index. I used the “Synch” function to line these up, and a very cool chart ensued.
One of my inspirations for creating Layered Charts was a weekly chart I get from McClellan Publications. I would look at something like the chart below and think, “I wish I could do that in SlopeCharts.“
We only rolled out the awesome new Layers feature late last night, and I’m having a ball with it. As I mentioned, the one feature I really want to add is the ability to Save charts, so rest assured, that’s coming.
Let me offer an example I just did to show how Layers can be used. So let’s start with the sensible-sounding premise that interest rates have an influence on real estate. So I put the 15-year fixed mortgage in one layer and the IYR in another (note bene: I’m sure other mortgage rates might be better choices, but, meh, what the hell, I landed on this one). Importantly, I did a Flip on the interest rates, which inverts the scale (in other words, the bottom of the chart represents higher rates).
Already, we can see a very cool interaction between these two. Notice how interest rates seem to lead – – by a long time – -the real estate market?
I’m going to be a bum and just paste in the documentation to our new Layered Charts feature. I still need to read the comments from my announcement last night, since I know some of you had good ideas I want to implement. But I am continuing to ask for feedback and ideas to improve this – – and for you to tell me if you’ve seen anything like this anywhere else. I’ve been wanting this feature for years.
The ability to “layer” charts is a unique and powerful feature in SlopeCharts which at first glance might seem to be just an other form of comparison charts, but it is much more flexible and sophisticated than that. This feature allows you to combine charts in ways that are simply not possible with standard comparison charts.