Technical chart analysis provides you a directional view of a particular stock. It helps you understand the trade keeping in mind the entry, exit, and risk associated with it.
It allows you to identify trading opportunities in the market based on the actions of market participants. Technical chart forms different patterns and helps you to understand the trend.
You can apply technical analysis to any products of stock markets. From stocks, futures, option, commodities, and currency or any other asset if it has historical data.
Once you understand the different indicators and their behavior, just plot on the technical chart. You can plot top indicators like MACD, RSI, EMA, SuperTrend, or any other technical indicators. Along with that, you can also use different chart types like Candlestick, Heiken Ashi, Renko, or any other types as you desire.
The above technical chart not only helps you to analyze any asset technically. In fact, it also allows you to get different data relevant to the fundamental analysis.
It covers different fundamental tools like income statement, valuation, ratios, profitability, and other metrics. Key fundamental metrics along with technical indicators help you to take the profitable decision.
Technical Chart Types & Indicators
You can use any charts types, however, I suggest you use Heikin Ashi or Candlestick chart types. Other chart types are Bar, Hollow Candles, Line, Area, Baseline, Renko, Line Break, Kagi, and Point & Figure.
Top technical indicators are MACD, RSI, SMA, EMA, ATR, Bollinger Band, Parabolic SAR, VWAP, CCI, Ichimoku Cloud, Stochastic, and many more.
You can analyze fundamentals of any asset class like in Income Statement, you can figure out Revenue, Net Income, EBITDA etc. Furthermore, you can also get to know about Market Cap, Price/Earnings (P/E) ratio, and Book Value per Share. In fact, the above chart also allows you to plot Debt/Equity ratio and other fundamental metrics.
This chart also allows you to analyze chart in different time frames and finally helps you to take a trading decision.
So, are you using this chart for stock trading? Let me know how do you find this technical chart and its features.