Stock Charting
Stock Screening
Stock Research
Stock Charting
Stock Screening
Stock Research
ChartSmart Professional is the name we give to a set of special features in ChartSmart that are included only in our PLATINUM subscription. Basically our Professional Upgrade allows you to run filters using historical variables (eg. specifying the rate of change of the indicator value in your screen, not just it's value plus set screens back 5 years instead of just 1 year) , create alerts on charts when your screens would have occured over the duration of the chart, and back test your filter sets. These features are outlined in more detail below or you can view videos on how to use them with the video options below:
We have a complete set of videos outlining the features of the ChartSmart Professional Upgrade. Just go to CHARTSMART PROFESSIONAL UPGRADE at Videos on ChartSmart Features.
Once you are subscribed to the pro upgrade, click on TOOLS then on BACKTEST FILE DOWNLOADER. The white box on the far right probably has the number 20 in it. You can raise it up to 100 then click on DOWNLOAD. It will take about 30 seconds per file so allow plenty of time to download the files for the first time. You may want to set it to 10 for now then 100 later. Also, click on the checkbox to download backtest files with your daily updates. Remember you should have a high speed connection and about 1 gigabyte of extra hard drive space. When done watch the demos and try the various features in ChartSmart Professional under the tools tab. Then try going to the filter menu and customizing your own formula under the YOU SPECIFY tab using the historical variables (eg. 8rsi14 or 7sma10).
1) Screen with Historical Variables - One of the main features of ChartSmart Professional is that you can customize your own filter formulas using historical variables. For example, this would apply to any of our technical variables like high, low, close, volume, trades, rsi14, adx1414, sma10, sma30 and so on (a complete list is shown when you go to TOOLS then ChartSmart Professional Web Help). With our professional version, you can put a number in front of any variable indicating the number of days ago it pertains to. For example, you could specify the RSI14>70.AND.5RSI14<40 meaning the current RSI is over 70 but the RSI 5 days ago was under 40. You could also specify trades>1trades.and.1trades>2trades meaning the trades today is over yesterdays and yesterdays over the day before that. The use of historical variables in screening offers an entirely new dimension in the use of your screens. You will find this feature unique to ChartSmart. Note that historical variables (where you put a number in front) can only be done for these View Samples of formulas using historical variables.
2) Create your own filter alerts - Another powerful tool in ChartSmart Professional is the ability to create your own filter alerts. In our regular version we enable up and down arrows to be viewed for a few preset screens. For example you can see a green arrow on the chart where macd crossovers up had occurred. In our professional version you get complete flexibility to create your own alerts. Basically, you can display an alert for when any of your filter sets occurred on a chart. This applies to historical variables too. For example, if you made a filter set with the criteria that specified there was to be a macd signal line crossover up plus the rsi had to be over 60, you would be able to display on your charts an object like an arrow that is displayed at any time this condition occurred in the history of the chart (daily charts only). As another example, you could create a custom formula that specified rsi14 over 70 and rsi14 10 days ago under 40. Again you could display an object on the chart when this condition occurred. This feature represents a great learning tool to visually see how your filter sets would have done plus it alerts you when certain conditions are starting to occur. For example, if you are looking at a chart and 4 days ago there was an alert for a bollinger band breakout upwards, 2 days ago there was a signal line crossover and today it's rsi went over 60 then, you could see these objects collecting on the chart in a specific area, possibly indicating it is due for a trend change upward. The graphical alerts can be a powerful tool.
3) Backtest your filter sets - Basically ChartSmart Professional will enable you to select any combination of filter sets and compare the returns the stocks would have had over various periods of time. For example, from you say 100 filter sets, you could select 5 and backtest them from 20 days ago. ChartSmart would then determine the returns of each set helping you to determine which gives the best results. Going further, it will also allow you to test over different duration's. For example, the 5 sets you tested could be tested for results over various periods for up to 12 periods. The backtesting feature would automatically test over a 12 day, 11 day, 10 days and so on period to 1 day and tell you not only which formula gave the best return but also which period of prediction gave the best return. Another feature, currently under development, is that ChartSmart Professional would then allow you to simulate. For example, lets say you select the same 5 filter sets and decide a 7 day period was the best return period. You could go back 50 days and skip forward testing the results of each one over a 7 day period. 50 days ago you would compare the returns to 43 days ago, 49 days ago to 42, 48 to 41 and so on till you had tested any number of times, say 30 times. You could then have determined how many times one screen successfully gave the best return giving you a better idea of the accuracy of your backtest.
If you have trouble running the videos, check if you are running Netscape. If this is the case try again but use Internet Explorer as your browser or download the file and run it by doubleclicking on it in Windows Explorer.