7 Charting Tools for Spread Betting. A Practical Guide to by Malcolm Pryor

By Malcolm Pryor

Following on from the good fortune of his first books, 'The monetary unfold having a bet instruction manual' and 'Winning unfold having a bet Strategies', Malcolm Pryor now offers the unfold bettor with an in depth realizing of seven key charting instruments. every one device has a task to play within the good fortune of the unfold bettor, and the instruments can be utilized together to build robust buying and selling strategies.
This new e-book is written in a punchy and cost effective kind, proposing a lot of its instructing via rigorously selected examples of charts. the focal point is on useful technical research recommendations that are without delay appropriate to unfold bettors and investors.

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Example text

The Seven Tools Tool 1 – ATR Background and construction ATR is one of a number of indicators which measure volatility. Volatility can be described as a measure of the state of instability. In trading, volatility is a measure of the instability of the price of a financial instrument. Traders need some volatility in the financial instruments they trade, for without it there would be no price movement to take advantage of. Having a tool to measure volatility allows the trader to adapt to varying volatility, for instance by having wider stops when volatility increases and tighter stops when volatility decreases.

Others still use 20. Having a cut-off point may well assist in filtering a large range of instruments. For instance if your trading universe encompasses 5000+ US stocks, and you are looking for established trends, then a computerised search for all stocks with an ADX level above say 25 might be the first step in building a shortlist. ADX rising Others prefer to look at whether ADX is rising or not. The thinking here is that if ADX is rising this means one or other of +DI and –DI is becoming more powerful, which in turn means there is increasing momentum either up or down – what one would expect as a trend gathers pace.

The first chart includes a 5 day ATR, the second chart a 10 day ATR and the third chart a 14 day ATR. 5 The smaller the ATR range the wider the fluctuations in its value since it is more sensitive to daily changes in volatility. Note however that the three ranges are not very different. Note finally that across the six months the difference within each range between the lowest and the highest value is wide; with both the 5 and the 10 ATR the highest value is more than double the lowest value, with the 14 day ATR it is not far off double.

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