Twitter Facebook YouTube LinkedIn

All Trading Platforms Should Have...

All Trading Platforms Should Have...

There are many features that we have come to expect in modern charting software. When purchasing a platform you may assume that these features exist, only to discover later that they are missing. As they would not be considered to be differentiators, many chart providers tend to ignore these features and focus their efforts elsewhere.

The following list identifies some of the features that all charting platforms should have, but that many don't:

Zoom and Unzoom - Zoom enables you to quickly expand an area of a graph without having to manually change the bar size and position the chart. Use unzoom to restore your view back to its previous settings.

Timeframe Dragging - Click and drag to change the timeframe. This highly useful feature makes it very easy browse historical chart data.

Semi-log Scale - Most of the time a linear scale is sufficient for plotting market movements. Over longer periods of time or with quickly moving markets, a semi-log scale can be necessary.

Data Editing - Anomalous trades and sometimes bad data from your broker can cause the real data to be squeezed to the top or bottom of the graph. Tools for removing these data points are often very important to allow you to continue your analysis.

Snap to Location - Trying to position a line or resize point at the exact high or low of a price bar can be tedious without this feature.

Layers - Layers make it easy to quickly show or hide information on a chart. With a single click, you can remove or add all of the commentary, analysis, orders or order history.

After Hours Data - The ability to show or hide after hours market data can have an impact on your analysis. All charts should allow you to decide whether to show or hide this data.

Save as Image - Posting your analysis on a web site or sharing your views with a friend can be made much easier with this feature. Otherwise you will need to mess with screen prints and image editing software

Cut, Copy & Paste - As hard as it is to believe, these features do not exist in all charting software. The simple ability to copy and paste a trend line or text is something that we would all expect.

Undo & Redo - We all make mistakes, sometimes several in a row. Undo and redo help to ease the impact of these mistakes by quickly correcting them.

Text Formatting - Fonts, font size, bold, italic, text alignment, colors. When writing commentary these are features we have come to expect in all software.

Line Formatting, Colors etc - Line width, dashes, line colors and fill colors. These features are very useful for differentiating parts of your analysis.