TD Ameritrade Thinkorswim: Analysis Tools
The thinkorswim platform is rich with features, providing price alerts (when set), streaming CNBC TV, stock and option screeners and a spread trading tool. There are also live, streaming and customizable charts. Charts contain up to 20 years of data, and can be viewed on an intraday basis right up to monthly data.
The charts can be analyzed with hundreds of indicators including the common moving average convergence divergence (MACD), moving averages and oscillators. All indicators can be customized to suit the needs of the trader. Drawings can be placed on the chart, such as showing cycles, Fibonacci retracement levels and trendlines.
Traders can also screen for fundamental data and see news on the chart they are viewing, such as earning announcements, conferences calls or stock splits.
Traders can also isolate stock patterns such as head and shoulders patterns, triangles, wedges and others on their charts. Candlestick patterns can also be isolated, such as dojis and engulfing patterns.
The features and analysis tools make it possible to find trading instruments which are moving the way the trader wants. Those instruments can then be further scrutinized using an almost endless array of indicators and chart overlays. Figure 6 shows a summary of the main indicator categories and tools available in the thinkorswim platform (partial list).
|Figure 6: Analysis Tools Categories|
Within the thinkorswim platform, there are live tutorials for using the platform along with frequent trading seminars. Chat rooms are also available within the platform so traders can discuss the market with other traders throughout the day.
Traders can launch the news feeds which provides up to the second news flashes of events affecting individuals stocks, companies, the broader market or the business world.
Watch lists can also be created to keep an eye on certain stocks, ETFs, sectors or an array of trading instruments.
Traders can even link their accounts up to a list of trading newsletters. When a trade signal is released by a newsletter the trader is subscribed to, the signal will be "automatically traded" in their account.
TD Ameritrade Thinkorswim: Conclusion
A tool that investors and traders can use to filter stocks based ...
Software through which investors and traders can open, close ...
A type of trading software used to help currency traders with ...
An indicator or chart pattern that provides evidence that the ...
An individual who engages in the transfer of financial assets ...
A set of criteria used to help an investor narrow down which ...
A trading platform is a piece of software that acts as a conduit for information between a trader and a broker. A trading ... Read Answer >>
Learn how to recognize and act on doji patterns and why you should use a time frame close to your trading time horizon when ... Read Answer >>
Discover the various signals of bull market tops and what traders and analysts look for as signs of an impending bearish ... Read Answer >>
Learn how to trade wedge shaped patterns and when to buy or sell wedge breakouts with support and resistance levels to create ... Read Answer >>
Learn about market indicators such as the Advance/Decline Index and market breadth. Discover why these indicators are so ... Read Answer >>
Learn how traders identify false signals in the market when using indicators and strategies to better identify true market ... Read Answer >>