Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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If you attended the class in Seattle, accept my thanks for taking the time to come see me (and Blocks Player/SnapSheets).
It is not clear how we will distribute the new version I used in class. In the meantime, these notes allow you to do the same things I did in class using the current version you have on your machine.
If you have any questions about the material presented in these notes, please ask it as a comment below these notes.
I start class by opening SnapSheets and creating a NEW SnapSheet. You can do this from the opening screen OR by clicking File and Create New SnapSheet.
This should give you a blank SnapSheet.
I then add a Tool Window to the SnapSheet by clicking the ADD Tool button located in the upper left corner of the screen.
From the Other folder I add the WatchList Tool Window
I then change to different WatchLists from the top WatchList picker (noting the list of stocks is coming from TeleChart). Every WatchList in my TeleChart is also in the list for this WatchList picker in the WatchList Tool Window. When I pick a WatchList the tickers in the list are displayed below it.
I note the link button at the bottom of the Tool that allows me to link the symbol from TeleChart to this Tool. I also note the TeleChart Active List WatchList in the picker which allows me to view the exact same list in this WatchList Tool as I am viewing in TeleChart.
I finish by choosing the NASDAQ 100 WatchList in the picker and clicking on AMZN.
Time to add another Tool Window!
I click the Add Tool button again and add (from the Charts folder) the Bar Chart Tool.
I got the Connect Symbol screen which I would normally use to connect up the Bar Chart Tool with another Tool. In class I did not pick any connection and just clicked the SKIP button. Do this so you can see how to manually connect Tool Windows together.
Click Skip
If asked here, choose to always manually place your Tool Windows (Snap-ins). You should end up with a Ghost Image of the Chart Tool. You should also see the snapping icon in the center of the screen. Left-click and place your Chart Tool anywhere away from the snapping icon. You want to float this Tool Window, not snap it in with the WatchList Tool Window.
Your screen should now look a bit like this:
Lastly, add a Google Finance Charts Tool using the same Add Tool (Snap-in) icon. It is in the Browsers by Category, Google Finance folders.
Again, skip the connection question and don’t snap this Tool to the sheet, click and place it off away from the Chart Tool.
You now have three separate tool windows displayed but nothing is connected up! The Bar Chart Tool wants to display the Price History and Volume for a symbol. It just needs a symbol! The WatchList Tool provides a symbol based on what you click. Right now, you have AMZN selected. It is time to connect Bar Chart to WatchList.
In the upper left corner of the Bar Chart Tool it says “Bar Chart”. Right click there and choose the Patch Panel “Main Symbol”
You should get a simple Block Diagram showing an unconnected Symbol Block. Left click and drag from its input over to the WatchList Tool Window to connect them up.
You should now see the price and volume for AMZN. Click on WYNN in the WatchList Tool and your chart should now change as well.
It is time to connect the Google Browser Tool to the WatchList Tool. In the upper-right corner of the Google Tool you will see three icons. Click the down arrow icon and choose Properties.
You should get a Block Diagram. Click and drag in an empty white space to move to the bottom of the Diagram until you see the unconnected Symbol Block. Connect this to the WatchList Tool the same way you connected the Bar Chart tool (click and drag to the WatchList Tool).
Your Google Finance Charts Tool should now use the symbol selected from the WatchList Tool. If you select a new symbol in the WatchList Tool, you should see the other two tools use that symbol and display their information. These are the three tools used in the Featured SnapSheet in the Web Library called Personal Chartist.
This video gives a grand tour of the Personal Chartist: New pre-built workspace: Personal Chartist
I then explain the moving and snapping of Tool Windows.
Check out this short video to learn how to move, snap and tab Tool Windows within your SnapSheets: Moving and Tabbing Snap-In Tools
I snap the Chart Tool to the right of the WatchList Tool. I snap the Google Tool tabbed with the Chart Tool.
I add a few basic studies from the Web Library to the chart (like volume, stochastics, MACD and moving average of price). I also cover the QuickEdit.
Watch this video to learn how to add studies and use the QuickEdit: Adding Chart Items (plot, markers, etc.) from the Web Library
I talk about putting your stock analysis in a larger context. I start by showing a small sample of the Industry studies you can use. In SnapSheets with the Bar Chart Tool, it is easy to think outside of the stock.
I add (via the ADD STUDY button) the Industry Price History indicator. This allows me to quickly see the industry of the stock I was analyzing.
I add Symbol Relative Strength vs. Industry. This plots the ratio of the stock and its industry chart. This allows me to quickly see if the stock is out or under performing its industry. When the plot is rising, I know the stock is out performing its industry. When the plot is falling, I know the stock is under performing its industry.
I clear all the panes but the original Price Pane. I add both Symbol Rank vs. Industry AND Industry Rank vs. All Industry. I set both to use the Hemscott Sub Industry. I also set both to a period of 21.
This combination allows me to immediately know the following about every stock I go to:
- Was the stock one of the best or worst performing stocks in the group for the past 21 days?
- Was the stock’s 21-day performance gaining or losing strength vs. the other stocks in the group?
- Was the sub industry itself a strong a weak performer vs. all other groups?
- Was the group gaining or losing strength over time relative to all the other groups?
In one glance the chart reveals if it’s a strong or weak stock in a strong or weak sub industry. I could also see if the stock was getting stronger or weaker vs. its sub-industry and if the sub-industry was getting stronger or weaker vs. all other sub industries.
These are two plots that immediately put me outside of the stock to get a greater context for the stock’s price performance.
Be sure to review this video: Do You Remember to Check a Stock's Industry Before Buying?
I shift our focus to some of the Market/list-based studies available in the Web Library. I plot an Advance/Decline line. Using the QuickEdit, I easily displayed an A/D line for several index WatchLists (like SP500 and NASDAQ 100).
I plot the Percent of Stocks Above Moving Average plot. It quickly exposes the trend directions of the stocks in any WatchList. It reveals what percentage of stocks are in an uptrend over any set period of time.
It also allows me to get an idea if there was growing strength or weakness in the group based on component price trends.
I then showcase the technique featured in this video: Look for a Bounce When Too Many Stocks Make a New Low at the Same Time
I explore some of the fundamental-based studies. I plot the Fundamental Criteria Raw History plot. Using QuickEdit, I plot several different fundamental conditions including P/E ratio and EPS Latest Quarter. This allows me to see the fundamental trends of the stock.
I plot a Fundamental Criteria Industry Average. This let me see the average fundamental history for all of the stocks in the industry.
I plot the Fundamental Criteria Rank vs. Industry. This plot makes it clear how the stock’s condition ranked vs. the other stocks in its industry. Like with price performance earlier in the presentation, this gave the stock’s condition a context.
I then take a few minutes to explore some of the other Tool Windows (Snap-Ins) available in the Web Library.
I add a few of the Browser Snap-Ins via the menu; Windows (Snap-Ins), Add to SnapSheet, from Web Library.
I add the following from the Browsers by Category:
Analyst Rating: Nasdaq Analyst Info
Earnings Estimates: MarketWatch Analysts Estimates
Options: ETrade Options
I show how easy it was to Snap Tool Windows (Snap-Ins) wherever you want. Check out this video to review all of these conventions: Floating, Maximizing, Hiding, Deleting Snap-In Tools
I also added a few other Snap-Ins from the Web Library:
Charts: P& F Chart
Version 1.0 Archive: Overbought-Oversold Pie (which I connect to the Date Pointer and WatchList Picker)
Before we braking for lunch I cover the basic concepts of a Block and a Block Diagram.
Check out this video to review this material:
Your First 3 Block Diagrams
Customizing with Properties
To get a sense of how data can flow through a Block Diagram, I explain the Block Diagrams for Price History, MovAvg and a MACD plot.
After lunch I focus on making changes and creating our own Block Diagrams.
I right-click and copy the Moving Average plot in the Price History pane. I then pasted the copy in the same pane. I double-click the copied plot and made the following changes to its properties:
I then changed the Block Diagram of the MA plot from this:
To this:
I connected [BarChart Price History 2] to a [Bar High] Block.
I connected the [Bar High] Block to a [Maximum] Block (setting the period to 10)
I connected the [Maximum] Block to the [Moving Average Front Weighted] Block
I double-clicked the and changed it to red.
This transforms the plot into a front-weighted moving average of the highest highs for a 10-bar period.
I close the Block Diagram and use QuickEdit to change the average type to exponential and the average period to 21.
I then copy and paste the MaxHigh plot, double click it and make the following changes to the Block Diagram and Properties.
I right-click the [Bar High] Block and replaced it with a [Bar Low]. I replace the [Maximum] Block with a [Minimum] Block. I also change the Legend and Name in the properties. Once closed it becomes an exponential moving average of the min lows. With the other plot, I now have an interesting channel to track when price goes to extremes.
I then add the WatchList Average (unweighted) plot from the Market Indicators folder in the Web Library. I double-click the plot and followed the data flow through the Block Diagram.
I decided to change the Block Diagram of the plot so it used the Active WatchList in the WatchList Tool (Snap-In) instead of a static WatchList for its symbol list source. Here is picture of the changed Block Diagram:
I also created a simple plot from Scratch.
Right-click on the chart, go to Create New then Plot in New Pane (use the following settings):
Name: Max/Min Ratio
Plot Type: Numeric
Scale With: On Own Scale
Below is the Block Diagram for the Max/Min Ratio:
I then play around with a few True Marker plots.
I add a Stochastics plot from the Web Library via the ADD STUDY button. I then constructed two separate True Markers:
Right-click in the Price window, choose Create New then Plot with the following settings:
Name: StocBuy
Plot Type: True Markers
Scale With: Price History.2
Here is the Block Diagram and Properties:
For the second version:
Right-click in the Price window, choose Create New then Plot with the following settings:
Name: StocSell
Plot Type: True Markers
Scale With: Price History.2
Here is the Block Diagram and Properties:
I showcase how you can use the Color Plotter for any plot to color a plot based on whatever conditions you like. Here are some posts to review:
Personal Chartist with Color-Coded Price and Volume
Colored Candles (with different time frames)
Rate of Change and fundamentals (conditional coloring)
The final segment was on BackScanner.
To review everything we did in BackScanner, check out the videos on the web site (follow the link below):
BackScanner Site
Post any questions about the class content below.
Again, thanks for coming to class and taking the time to review these notes.
If you have any new questions, please use the ASK A TRAINER forum.
Here is a video on how to get the most from these forums: Learn how to use the forums: post a new topic, reply, Search existing topics
- Craig
Here to Help!
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Registered User
Joined: 12/30/2004
Posts: 28
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Hi, Craig great class. You done a great job. thanks
Can you show me again how to create the block for showing the difference between data poles? You show it in class but I can not re-create it. I like the result to display in % and #.
thanks
Eddie Woo
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