Guppytraders Essentials Toolbox is a selected subset of the full GTE Charting program. It is aimed at traders who may already have a charting package but still want the added benefit of the Guppy Tools. The GTE Toolbox program includes the following features:
FEATURES
GUPPY TOOLS
Average True Range
- Long
- Short
The ATR indicator measures only the range of prices set by the strongest players in the markets. It does this by comparing the distance from yesterdays close to today's high, and the distance from yesterdays close to today's low. This is combined with the distance from today's high and low. These figures are averaged to give the Average True Range of price movements between the end of yesterday's trade and the close of today's trading.
Count Back Line
- Long
- Short
- Long (Stop Loss)
- Short (Stop Loss)
The CBL is a short term resistance or support line calculated, in a falling trend, by counting back two higher highs, and then projecting a horizontal line to the right. A close above this resistance line suggests the intermediate down trend has changed. Closes above or below the line are used to fine tune entry and exit points.
Darvas Boxes
- Classic
- Modern
The Darvas box applies a filter to price movements to help determine which price moves are significant, and which are not. The filter is established by upper and lower limits of a Darvas box. The top of the Darvas box always starts with a new high. This high must be followed by 3 days that are lower. The bottom of the Darvas box can only be calculated after the top of the Darvas box has been confirmed. It is constructed in the opposite way to the top of the box. It uses as its starting point the lowest low that occurs after the top of the Darvas box is established. It is again a 4 day pattern, but is starts 1 day after the top of the box pattern. This means it takes a minimum of 5 days for a Darvas box to be identified for both top and bottom.
Guppy Multiple Moving Average
These are two groups of exponential moving averages. The short term group is a proxy for the behaviour of short term traders and speculators in the market. The long term group is a proxy for the long term investors in the market.
The relationship within each of these groups tells us when there is agreement on value
(when they are close together) and when there is disagreement on value (when they are
well spaced apart).
Invert Price Charts
This function inverts the price chart to eliminate the traders bullish or bearish bias.
Trend Volume Tools
Trend volume analysis identifies the repeated trading volume in trends. It is an extension of the Free Float methodology. Instead of using the theoretical free float of publicly available shares, this analysis calculates the volume of trading between trend points.
CHART STYLES
Bar Chart
The top of the verticle line indicates the highest price a security traded during the day and the bottom represents the lowest price. The closing price is displayed on the right side of the bar and the opening price is shown on the left.
Candlestick Chart
The highest and lowest price is represented in the same manner as a bar chart. The open and closing price is indicated by the colour of the bar. If the bar is red, then the security has closed lower than it opened. Green means the security closed higher than it opened.
Line Chart
Plots only the close price each day.
INDICATORS & OSCILLATORS
Expontential Moving Average
Exponential Moving Average places greater weight on recent prices
and a lesser weight on past prices. This weighting, gives a smoother look to the line, and will follow the market action more closely as volatility rises and falls.
Simple Moving Average
Simple Moving Averages are a basic statistical device used to smooth out market action over a defined time period. The are calculated by totalling the closing
price over periods and then dividing this total amount by the number of periods n.
MACD
The Moving Average Convergence Divergence is a trend following indicator with a built in 'trigger' line to indicate buy and sell opportunities.
Percentage Price Oscillator
This is a calculation of the difference between two Exponential Moving Averages.
Relative Strength Index
Relative Strength Index is a price following line that attempts to display the strength of a movement without the associated trend to confuse the issue.
Stochastic
Displays the comparison between the markets closing price to the price range of %K periods.
DRAWING TOOLS
Parabola
These trends are found most frequently in bull markets, or markets showing volatile rebounds. The trend is best described using an arc, or parabolic curve. It starts off slowly then accelerates very rapidly until the activity on the price chart is almost vertical.
Parallel Line
The parallel trend line tool can be used for trading channels. We prefer to use it for bullish flag patterns. These are high probability chart patterns.
Price Range
This technique measures previous price action and projects future targets. It is most effective when used in conjunction with chart patterns which have a high probability of developing in a consistent way. Generally the base of the chosen pattern is measured. This measurement is used to set a target based on the level of the subsequent
price breakout.
Saucer
The saucer or rounding bottom is a long term chart pattern. It is a very strong reversal signal. The shape of the bottom is best described with an arc rather than with a single trend line. The pattern develops over weeks or months. It is not a short term pattern.
Trend Lines
A line on the price chart of a security depicting the general direction the security is headed.
You can trial GTE Toolbox for 15-days by clicking here.
