Charting with Scottrader

Scottrader provides you with access to live stock charts and charting tools to help you spot, analyze and react to trends in the market.

To get started, click the Chart button in the Scottrader Quote Grid window.

You can monitor up to five charts at one time. Using the print icon in the upper left corner of the Chart window, you can print your charts, including any trend lines, indicators or other modifications you have made. To save ink, use the Configure button located in the top left corner of your Chart window to select a white background for your chart via the Visuals tab.

Creating a Chart

Enter Symbol– Once you have opened a chart window, input a symbol in the Symbol box and hit Enter. To choose a symbol currently displaying in the Quote Grid window, you can either highlight that symbol before clicking the Chart button or select the symbol from the Symbol drop-down menu.

Frequency– Choose the frequency you want to see displayed using the Frequency drop-down menu. The frequency of your chart refers to the intervals at which performance data is recorded. For example, if you choose a frequency of 30 minutes, you will see a new data marker for the security every 30 minutes.Frequency levels range from one second to every month. Expanding and contracting the frequency displayed on your chart can help you isolate individual events or view overall trends for a security.

Time Period– Set a time period for your chart. Depending on the frequency you chose, you will be able to view the corresponding time periods demonstrated below:

Like chart frequency, the time period of your chart can be used to help you isolate individual events or view overall trends for a stock.

Chart Style– Select a display style for your chart using the Chart Style drop-down menu. You can view Open-High-Low-Close (OHLC) charts, Candlestick, Close Line charts or Mountain charts. Depending on the chart style you select, you may see color identifiers on your chart.

OHLC charting uses the following color codes:

  • Green Bar - The bar close is greater than the previous bar close.
  • Red Bar - The bar close is less than the previous bar close.
  • Gray Bar - The bar close is equal to the previous bar close.

Candlestick charting uses the same color codes as OHLC charting as well as the following:

  • Filled Bar - The bar close is less than the bar open.
  • Hollow Bar - The bar close is greater than the bar open.

Note– Your chart will save any changes that you've made throughout your current Scottrader session. Once you close Scottrader, any changes you have made will be erased unless you have chosen to save the chart as default.

Standard Chart Features

All chart windows will display the security's open, close, high, low and volume at the top of the charted data. The current trading price of the security being viewed will be located in a gray box to the right of the chart, and will adjust its location according to the security's high and low for the day. The image below shows XYZ Imaginary Corporation currently trading at $27.58 per share.

You can view the historical trading price of any security by moving your mouse over the chart screen. When your mouse becomes visible on the chart screen, X and Y axes will appear and the point of origin will adjust to follow your mouse. The bottom of the Y axis will adjust to show the time corresponding to the current location of the point of origin, and the X axis will adjust to show you the trading price at that time. The image below shows XYZ Imaginary Corporation trading at $487.70, at 9:45 on 8/12.

Notice that historical trading prices appear in a white box, while the current trading price box is still shaded with gray. Change the frequency and time period displayed on your chart to adjust the historical trading price information available to you from the Chart window.

To view or remove dividends, splits, the crosshair or day break lines from your chart, right-click on the chart or click the Configure link in the top left corner of the Chart window and use the checkboxes provided to select your preferences. To see additional information for a dividend or split, hover your mouse over the dividend or split icon on your chart.

Use the Configure link in the upper top left corner of the Chart window to change the visual settings of your chart.

Technical Indicators

Technical analysis, the study of price movements and trends, is a research technique that seeks to interpret a series of data points, or technical indicators, plotted on a price chart. The data points are formed using price or price and volume statistics for a particular security inside a specified time period.

Technical indicators are tools designed to establish visual patters that can potentially make confusing price data easier to understand and interpret. With Scottrader, you can chart three upper indicators and three lower indicators at a time.

Charting Technical Indicators

Click the Indicators button in the upper right corner of the Chart window.

Select upper indicators from the three drop-down menus provided. Adjust any criteria offered to match your charting preferences.

Upper indicators will be plotted in the Chart window.

Select lower indicators from the three drop-down menus provided. Adjust any criteria offered to match your charting preferences. Lower indicators will appear below the Chart window.

Removing Technical Indicators

Scottrader offers easy one-click removal of any technical indicator. To remove an upper indicator, click the X next to the indicator at the top of the main chart. To remove a lower indicator, click the X corresponding to the charted lower indicator you want removed.

Note– Your chart will save any changes that you've made throughout your current Scottrader session. Once you close Scottrader, any changes you have made will be erased unless you have chosen to save the chart as default.

Trend Spotting with Charts

In addition to utilizing technical indicators, Scottrader allows you to draw your own trend lines in order to track prices. Charting with trend lines can potentially help you determine the reliability of certain trends and the expected price performance of stocks.

Chart Trend Lines in Scottrader

All trend lines drawn in Scottrader are specific to the window in which they were drawn and will only appear on that chart. To draw a trend line:

  1. Click the Chart button at the top of the Quote Grid window.
  2. At the bottom of the Chart window, click the Draw Trend radio button.
  3. Click your mouse on the point at which you want the trend line to start and drag the mouse to the ending point of your trend. Release your mouse.

Growing Trend Lines in Scottrader

Scottrader allows you to create trend lines that will grow as your chart is updated to include new trades.To create a growing trend line:

  1. Click the Chart button at the top of the Quote Grid window.
  2. At the bottom of the Chart window, click the Draw Trend radio button.
  3. Click your mouse on the point at which you want the trend line to start and use your mouse to drag the trend line to the right edge of the chart. Once the trend line connects with the right chart edge, a Continue Trendline message will appear.
  4. Release your mouse. Unless you select to remove it, the trend line will continue to grow until you close your Scottrader session.

Note– Uptrends will be indicated by a green trend line. Downtrends will be indicated by a red trend line.

Clear Your Trend Lines

To remove the trend lines from your chart, click Clear Trends in the upper right corner of the Chart window.

Note– Your chart will save any changes that you've made throughout your current Scottrader session. Once you close Scottrader, any changes you have made will be erased unless you have chosen to save the chart as default.

To place a trade from the Chart window, click Quick Trade.

Use the Linker Tool to connect the Chart window to other windows throughout Scottrader.