I am a big fan of Stockcharts.com. The guys over there do an amazing job and provide a very nice set of charting tools. Now they have added a way to alert users when changes to key technical indicators occur.
This is great way for investors, who may not want to spend the money on some of the software tools that money managers like myself use, to automate investing in their portfolios.
Check it out when you get a chance.
Today I’m thrilled to announce the addition of Technical Alerting to StockCharts.com. We are starting off by providing everyone with a collection of common, interesting predefined alerts such as Bullish and Bearish MACD crossovers for the major stock averages. In a couple of days, we will be expanding our alerting capabilities so that Extra members can create their own alert criteria.
A technical alert is a set of conditions that is checked several times each minute. If the conditions are found to be true, the alert’s owner is then notified in one or more ways. Currently, we can notify people using the following methods:
- A web page that contains the current status for all alerts.
- An email notification
- A Twitter tweet
- A RSS feed notification
The criteria for custom technical alerts are essentially identical to our advanced scan criteria. You’ll just need to specify an additional “alert condition” and a “notification action.” If you are familiar with using our Advanced Scan workbench, creating custom alerts will be a piece of cake. Extra members will initially be able to create 5 custom alerts each.
Again, custom alerts will be released in a couple of days. For now, you can checkout our Predefined Technical Alerts page to see those alerts in action. This is analogous to the Predefined Scans page that we maintain for scan users – i.e., you can’t change any of the alert criteria, but you can watch them in action.
The predefined technical alerts page allows to to see the alerts in two different ways – Summary view and Timeline view. The Timeline view gives you a sense of when clusters of bullish and bearish alerts happened in the recent past. Here’s what it looks like:
Click here to see the live version of the Alert Timeline page. Links to the regular alert page can be found on our homepage, just under the “Predefined Scans” link on the right side of the page.
Twitter users that follow our @stockchartscom Twitter feed will see tweets from us whenever one of our predefined alerts occurs. The tweets will have the hashtag #sccalert as well.
Alerts are an extremely important tool for active technical traders. We are confident our alerting system will be the most powerful web-based system out there. As we deploy it and document it over the next week or so, please let us know what you think.
Disclaimer: I do not receive any type of compensation from stockcharts.com. I am just a fan paying it forward….
image via flikr: Nitevision