Run, don't walk, to check out our new Technical Analysis suite of tools, just launched in partnership with Recognia, an industry leader in chart pattern recognition software for traders. It's under Quotes + Research > Technical Analysis, free exclusively to TradeKing account holders.
I'm particularly psyched about this tool because it addresses a key question head-on: it's easy to pick out chart patterns on old charts, but how can you identify a trend while it's still emerging? Even strictly fundamentals traders often check out technical patterns for decision support, and this tool makes it easy regardless of your approach.
Our Technical Analysis suite lets you tackle that problem in several ways. You can scan for over 50 technical analysis patterns to find stocks where those patterns are emerging. So if you trade, say, price break-outs to the upside on 30-day moving averages, you can set a scan to find you all the stocks who seem to fit that pattern -- as it's still developing.
You can also set alerts, so whenever a stock starts to form a pattern you like to trade, you're advised via email and can take action.
Our no-nonsense Education Center explains technical analysis from the ground up, so you can make sense of all these patterns, find ones that interest you and explore them, and really get your arms around incorporating technical patterns into your research and trading routine.
I also dig the Technical Insight section of this tool. Enter a symbol, and you'll get a chart with all the major technical patterns marked on it, both past and emerging. I find it extremely helpful to see practical examples like this, overlaid right on the charts I'm already watching. It's useful whether you're getting your feet wet or a hard-core chartist already. Enjoy!
