Stencil?

[ReneeK58]

Is there any kind of stencil that you can get to help draw "the lines"? Thanks for your time.
R

 

[timsk]

Is there any kind of stencil that you can get to help draw "the lines"? Thanks for your time.
R

Hi ReneeK58,
Can you clarify what you mean please? By 'the lines' - do you mean trend lines and support & resistance lines? And by 'stencil', do you mean software that plots these for you automatically so you don't have to draw them in by hand? If so, various charting packages offer this facility - e.g. ProRealTime
Tim.

 

[ReneeK58]

Yes, thank you tim. That's what I meant. Still in the beginner category. And I suck at math, so I'm very challenged.
And thank you for that information.

 

[timsk]

. . . And I suck at math, so I'm very challenged.

I wouldn't worry too much about that - I suck at Math too!


If you're still doing initial research, it's worth taking a look at Point & Figure charts, as many charting packages will automatically plot bullish support and bearish resistance lines. The benefit here is that because of the way PnF charts are constructed, there's no subjectivity involved, so a chart should look the same - regardless of the software provider. Whereas, I suspect the ProRealTime charts will have their own proprietary software - which is likely to be different to that developed by another charting provider. (The latter refers to bar, line and candlestick charts. I may be wrong, but I have a feeling one can't plot trend lines automatically on PnF charts in ProRealTime.) I've not explained that very well - let me know if it doesn't make sense!

If PnF is of interest to you, then I've posted some links about it in this thread.
Tim.