Sorry I missed this. I use bulls eye broker to display my charts. It is the only software I know of that keeps everything in proper box size where you can truly draw trends. The bad thing is it cannot be used with a real time data feed as yet. I would love to find a program that looks like this in real time.
Thank yuo, HG! So let's say my stock is trading at 3.10. Then it goes up to 3.20, so I put 5 X's in a column going from 3.10 to 3.20 - an X for each .02, right? Forgive my slowness here, but starting at 3.20, when and where would I start drawing O's if the price declines back down to 3.10? Thanks HG (and everyone else) for yuor patience and help! Oh, and as to real-time charting, eSignal will certainly do this in any timeframe. Yuo specify the Box Size and Reversal, and the program draws the chart. Then yuo can save yuor settings so yuo can switch back and forth from different chart types.
The "QuoteTracker & DTN IQ Feed" combo can give this too you in real time feed. Stockcharts.com can give you the data on a delayed intra-day feed.
If the stock made it to a top of 3.20 you would have a reversal at 3 x .02 or .06 from the top which would be 3.14
I am using metastock and quotetracker. The bulls eye broker can only read amibroker, telechart, and metastock data right now. I can hit the refresh button on metastock and it will update the bullseye broker, but it's a pain in the ass.
Ok, so then I put a O at 3.14, and add O's for every .02 down - so, 3.12, 3.10, etc? Then let's say I get down to 3.02. Now price rises to 3.08, so I start adding X's at 3.08, and add another X for every .02 up? Thanks again!
a reversal is 3 boxes so for each reveral it is 3 0's on your example and a new zero for every .02 after that as long as you never get a .06 reversal in the next direction. I can't even imagine trying to do this in real time by hand. Take a look at quote tracker and let it do it for you. In your example yes, at 308 you would put 3 x's and an x thereafter that exceeds two cents before the next reversal.
basically when you are doing it by hand you look at the current high and if at anytime the current price is 3 times your boxsize under the current high you now have a reversal of 3 boxes. A single box now gets added to that box if your box increment is reached before you have reversed.
Ok, I know I'm trying yuor patience here, but at 3.08, at which would I start in adding the 3 x's ? Sorry, it's late here so I'm having trouble with this, but am most grateful for the help! And I can't imagine tis in real time either, but the eSgnal program can calculate it. I'm just trying to get straight at which point I change from X's to O's!