Pro traders’ favorite charting software platforms allow users to create custom charts for Forex and stocks. This way, you can track the data you need to meet your goals. Let’s take a look at how top analysts do it.
The best software will often allow more than one chart to be visible on the screen at once. This allows more informed decisions. For instance, it could make it easy to track the performance of a stock or currency compared to a commodity’s movement. Often, when multiple charts are viewed at the same time, they are set up in a window that’s called a workspace.
Here are the things you’ll want to consider when creating a custom charting workspace:
- Name: Make sure you give each workspace a specific name so you’ll know what it’s tracking when you look for it again.
- Symbols: Choose the symbol for the asset you want to chart.
- Timeframe: Select hourly, daily, weekly, monthly, etc.
- Template: Some charting software will allow you to build your charts on a template. This can help you start out with a little more structure than a blank slate.
To work efficiently with multiple charts in a workspace, you’ll need to choose how you’ll organize these charts. This is sometimes called a layout. Choose the number of charts you want, the arrangement you’ll want for them and the order in which they appear.
As you place each chart in your layout, you will need to repeat the steps for name, symbols, timeframe, etc.
From here, you will want to address your chart settings. For instance, you can modify the color of your candlesticks so they don’t look like the defaults. It might be for personal preference, or you might customize some color-coding from one asset (such as a currency pair) to another so you can tell them apart at a glance. You can also change grid styles, fonts, highlights, and so on. These settings might be called a theme.
From here, if you’re working with a top charting platform such as SmartTrader, you can work with overlays, indicators or templates in each individual chart. You might even be able to share your charts to a trading community, such as SmartTrader’s Ideas section.
The SmartTrader Pro charting platform can enable you to work with up to six charts in each workspace, and save up to 50 workspaces. Right now, you can try SmartTrader Pro for 30 days for just $27. Click here to see how the right software can simplify your charts so you can grow your portfolio. To see your charts in an entirely new light, start your trial today.