- : January 23, 2021
- : Prashant Shah
New Features in TradePoint
We are happy to release the new upgrade of TradePoint Desktop. Below are the new features:
Go to Scanner -> Smart Scanner -> Volume Scanner
- Volume Scanner is added in the Smart scanner section.
You can now check percentage change in volume of stocks versus the previous bar, 5-bar, 10-bar & 20-bar average volume. It helps us in analysing which stocks have reported significant volume.
- Name of Range scanner is changed to OHLC High - Low Retracement Scanner.
Go to Scanner -> Smart Scanner -> OHLC High-Low Retracement Scanner
Retracement %age of stocks from 52-week high - low or user-defined period is shown. You can know immediately how far the price is trading from important high and low prices. Stocks trading within 20% retracement from 52-week or 250-day high are considered bullish and stocks trading with 20% retracement from 52-week low are considered bearish.
Click here to learn about the construction of pattern counter scanner.
Trend ratio in the scanner helps us in analysing stocks having strength compared to the range.
- Trend ratio column is added in Pattern counter scanner.
- HMA or the Hull Moving Average is added as an option while selecting average period for indicators. Now you can plot Single, Double, Triple moving averages of indicators like Bollinger bands etc using Hull Moving Average.
- New patterns added in P&F charts: Oops Bullish and Bearish patterns, probable AFT patterns.
- New Indicators are added in all types of charts: Volume Rate of change%, Volume average crossover, Turtle bullish bands and Turtle bearish bands.
There are some other scanners in the TradePoint discussed in the chart ideas section in the newsletter.
Price- Volume Matrix
Price-Volume matrix scores the pattern based on the price-volume pattern. If price is bullish with volume, the score is 2. If price has fallen with volume, score is -2. If price is bullish with falling volume, score is 1 and if price is bearish with falling volume, score is -1.
Total score over multiple sessions can help us in analysing price and volume pattern on different stocks. Default parameter is 15 sessions, User can run it for period up to 30 sessions.