New Features --
The major new features in this version include the following:
- New charting look - instead of a simple red line for closing price we now display open-high-low-close bars. Up-days are colored green and down-days are colored red. Right click on the price series and you'll be able to switch to candlesticks. Can't emphasize this enough - charts look much more professional now and are so much easier to read.
- Made the SELL signal processing a bit more responsive. This addresses an anomaly in the calculations that sometimes made SELL signals weaker than they should have been.
- Integrated a statistical component: when closing price exceeds one standard deviation from the Slope (the orange line based on linear regression), the Signal Strength is boosted by 10%. If the closing price is still within one standard deviation, the Signal Strength is decreased by 10%. This helps avoid false reversal signals while make the signal generation more dynamic.
- If the price exceeds the classic Trend Line by 3% then the Signal Strength is increased by 5%. The classic Trend line is the line that can be drawn by touching the cyclical extremes of the high prices or the low prices.
- Made it easier to pick Start and End points with a simple click. On the top chart, you no longer need to hold the left mouse button down until the dialog box pops up; it now takes just a single click.
- Added dates to Window Start and Window End displays - this makes it easier to be aware of the time frame you are analyzing.
Yes, we always have a few bug fixes:
- Trend Diff indicator works correctly - no longer flashing yellow (caution) in most situations
- Labels on Fibonacci lines are set properly based on whether SELL signal or BUY signal is chosen
- Adjusted the orange Slope line so it passes through the middle of the price variations. It now reflects the true linear regression of the closing prices in terms of value, not only in terms of angle.
I think this is the slickest looking version we have released so far and the signal generation is more dynamic and sophisticated.
Those who have used the TradeRadar software before will easily be able to use the new version. Other than the new look on the chart, most of the changes are under the hood. The Dashboard screen is still the place where all the calculated indicators can be reviewed and they still have red-green-yellow lights that show how well the test for that indicator has been satisfied.
Keep in mind, though, an investor needs to carefully review ALL the indicators on the Dashboard screen. If the there are mostly green lights, that's good. But if Strength, AOA and the "Signal in the Zone" indicators are not all green, beware! You probably don't have a valid signal.
So check out the new chart look on the Features page of the TradeRadar web site. Then go download the latest version of the software on the Download page. As always, we have a full install for those of you who are new to the application and a simpler upgrade for those who have an earlier version already installed. Note that it only runs on Windows.
If you would like to let me and others know what you think about the TradeRadar software, please leave a comment below.