Software/websites for Technical Analysis

Jack_Flash

Hi Guys,

Can anybody reccommend any software or indeed websites which specialise in technical analysis?

Does anybody have any opinions on technical analysis as a tool for purchasing and selling shares? What are the best indicators to use?

Zascar

I'm far from being an expert but here are a few usefull links:
www.iii.co.uk is very well regarded, or if you have an account with www.e-trade.com their tools are excellent.

Not necessarily for technical analysis, but for general research http://finance.google.com, http://finaince.yahoo.com and http://moneycentral.msn.com are worth a look.

PDelux

It is hard to know the best to use but the main ones are;
stochastic indicator, MACD and moving averages

You can get all this FREE on the new yahoo finance charts.

Lets take Apple (AAPL) as an example, because it did great yesterday when the iPhone was announced.
Look at the 1 year chart on yahoo finance, not the normal chart but the new one.
Go to Technical Indicators and select 'MACD'. This will show an uptrend or downtrend. When the divergence is near 0 it is going to change direction. When the red goes above the blue/green it is a downtrend and other way is an uptrend.
Now try Simple Moving Average as the technical indicator and try 50 and 200 day. You can see then when the 50 day goes above the 200 day it is indicating an uptrend because the recent average is greater then the longer average which is kind of obvious.
Stochastic indicator compares the current price to the recent price range and would indicate an overbought(sell) or oversold(buy) signal.

hmmm

Metastock is the amateur TA daytraders choice. At least, all 2 of them that still have money

John Murphy's book is supposedly one of the best (can't remember the name). Most of the Malkiels, Buffets and other value driven investors would think TA is akin to voodoo, mysticism and nonsense. Malkiel has a particularly good rebuttal of TA and compares the performance of its leading proponents to the market - not pretty.

PDelux

Excellant 7 minute video tutorial here:
http://www.wallstrip.com/theshow/
(scroll down to the video with the chart on it)

Sonderval

I find stockcharts.com to be the best, at least from the ones I have seen so far.

themarketmonkey

I use my own software, free to download if anyone wants it. Looks just like what you would see at an investment bank.

If anyone wants it you can get it at http://w12.easy-share.com/880669.html

It is platform independent written in Java and requires the latest Java SE Runtime 6 to work. You can find that at http://java.sun.com/javase/downloads/index.jsp

Although a lot of people talk about technicals, and certian factors can anchor in peoples minds (such as a few years ago when everyone was waiting for the dow to break 10k for the first time) you cannot underestimate the importance of fundamental research. You should always know what you are invested in, technicals can be manipulated and you can use various data to show concurrent buy and sell recommendations for the same asset.

PDelux

I know its a commnoly used term but just wondering if you are the same Market Monkey from the Sunday Tribune/DelatIndex articles?

themarketmonkey

Nope, the term refers to an "experiment" in the states a few years back where a
monkey was used to randomly select stocks over an investment horizon and its returns measured against existing fund managers and benchmarks. It did quite well. What this says about a career in the financial markets is debatable, but for a good read on the subject I suggest a book called "Fooled By Randomness" by Nicholas Taleb.

themarketmonkey

For anyone who was interested I have uploaded a quicker version of the trading software.

it should load in about 5-10 secs

you can get it at:

http://w12.easy-share.com/882256.html