Hello everyone and welcome to another TrendSpider feature announcement. This feature is one that has been commonly requested by traders since the introduction of our Raindrop Charts a few years ago. As background, Raindrop Charts abstract away arbitrary open and close prices and replace them with volume-weighted average prices. To learn more about how Raindrops work, please visit the Raindrop Charts page on the website.
In this announcement, we introduce two new timeframes for use on Raindrop Charts: the Weekly and Monthly timeframe. This provides a simple and easy way to measure long term price-volume movement on a single chart without using any additional tools.
In the above example, we show the Weekly and Monthly Raindrops for $IBM.
Supported throughout the platform
You can use Weekly and Monthly Raindrops throughout all of TrendSpider. They are supported in the Market Scanner, Strategy Tester, Multi-Factor and Dynamic Alerts, as well as all other aspects of the system.
Due to the computational requirements of Raindrop Charts, it is possible that on some charts you may see a slower-than-normal load time for Raindrops on these timeframes. This is a known issue and something we are working to speed up. However, for 97% of requests, the charts will render at the same blazing-fast speed that you are used to in TrendSpider.
That’s all for now. Enjoy! We’ll be back in a week or less with more goodies for you to enjoy.