Charting for Rules based trading

[Power Profit Trades] Friday, July 15, 2022 [Revolutionary algorithm detects upcoming stock surges]( A record amount of new traders during the pandemic generated mountains of data - enough for BRUTUS to discover a way to identify profitable trades with unbelievable accuracy. This trading algorithm lets you identify when a stock is ready to surge BEFORE buying. Discover how to [get in before the masses start to buy](. --------------------------------------------------------------- Charting for Rules-based Trading By Tom Gentile Daily Watchlist Today's Schedule 8:30 a.m. ET - Catch the [Money Morning LIVE show]( before the bell Hello, Power Profit Traders! Having the right tools to analyze charts can make a significant difference as you practice rules-based trading. Each week on our [Money Morning LIVE]( show I view the broader financial markets through the lens of a technical and systematic trader. Not only do we review the general S&P 500, but we'll also look at bonds, currencies, commodities, crypto currencies and market volatility charts. Let me introduce you to my All-in-One Charting tool. Not only is it available through the web, but you can download my app as well. I want you to have a glimpse of the tool that can help separate an emotional trader from a systematic, rules-based trader. The All-in-One Chart Welcome to my guide on the All-in-One Chart that can be made available for you to utilize in Tom's Tools. Following rules is the secret behind every trading strategy. Not only is it important to define rules and follow them, but the outcome of following rules has to be positive after being tested. Systematic trading can greatly assist in removing emotions from trading. I have six categories that I monitor with my All-in-One Chart to give me a broad picture of strength and weaknesses in the financial markets. - Stocks - Bonds - Currencies - Commodities - Volatility - Crypto My All-in-One Chart can help you evaluate individual stocks along with the broader financial markets. [Accessing the Charting Tool]( Access the charts by selecting Stocks/Charts/Stock Charts, illustrated below. With just a few technical tools we can assess what is happening with a stock's Price, over a specified period of time and whether options are over or under valued by evaluating Implied Volatility. [GETTING STARTED]( How to Apply Chart Settings To the right of the chart, under Controls, select the following items - illustrated in the image on the right: Stock Chart Overlay 1: 7-30 day ATM IV Stock Type: CandleStick Moving Avg Days: Long 30; Short 10 Stock Chart Fibonacci: (check box) After choosing your chart selections, click the UPDATE button near the top of the Controls window. Your chart will populate to the left of the Controls window. Reading the Chart Moving Averages The chart image below illustrates price activity through "candlesticks." You can evaluate the general trend of price action by looking for higher highs and higher lows (bullish trend), consolidation points (neutral trend) or lower highs and lower lows (bearish trend). The purple line represents a 10-day simple moving average line (SMA), while the blue line represents a 30-day SMA. Monitoring moving average crossovers is one way to determine if the trend is likely to change - this is usually followed through with other technical tools to confirm the trend's change in direction. (Illustration of candlesticks and two simple moving averages - 10/30) Fibonacci Levels Fibonacci sequences are a series of numbers in which each number is the sum of the two preceding numbers...Wait! What? Let's keep this simple. Fibonacci numbers and sequences were named after Leonard of Pisa, also known as Fibonacci, which I like better when voiced with an Italian accent. Traders apply Fibonacci ratios to determine price levels, or where price may retrace or project to - identifying potential levels of support and resistance. Fibonacci trading has much to do with price activity breaking up or down and then following through to a particular price target. The chart below illustrates the full range of price activity between zero (lower level) and 100 (upper level). Looking up from the zero level, price action is thought to remain between zero and 38%. If price rises above the 38% level, it is anticipated to rise to 50%, and so on until a complete 100% retracement is made. (Fibonacci Retracement levels from Zero to 100) Implied Volatility The red line on the chart below illustrates the fluctuation of Implied Volatility (IV) over time. This is an essential chart for option's traders. When volatility is low, it indicates that option premiums ARE NOT INFLATED. (IV Levels rising and falling over time) When volatility is high, it is an indication that option premiums ARE INFLATED. The All-in-One Chart is a tool for analyzing current and historical price movement, trends, implied volatility and projections for future price, and you'll find me utilizing this chart regularly. I look forward to talking to you more about finding success with my charting tools. Talk soon, Tom Gentile America's #1 Pattern Trader [Tom's Toolbox]( Today's Watchlist is based on the Morning Report's Expensive IV tool. This data is updated after the closing bell each session, and compares current implied volatility (IV) against a set of near-the-money options over the last year. Expensive IV means the current IV is at the high end of this 52-week range, meaning option premiums are running hotter than normal - a ripe atmosphere for selling to open options. The Morning Report tools from the Tom Gentile Suite app are free to Power Profit Traders - [click here for instructions on how to use and download](. 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