Hello, traders, and welcome to another software update! Today we are excited to release Quarterly and Yearly timeframe charts to TrendSpider.
For some time, users of the platform, particularly our friends in The Strat community, have requested the addition of Quarterly and Yearly timeframes to aid in longer-term analysis. As can be seen in the image below, quarterly and yearly charts are available for use in every chart style, from line charts to Heikin Ashi, Raindrops, Bars, Hollow, and standard Japanese candles.
These new time frames work seamlessly with all auto-analysis tools as well as all standard and anchored indicators but do keep in mind the lengths that you choose for any indicators containing moving averages, as it will not be possible to utilize longer lengths on these higher timeframe charts. Remember, there must be enough candles to create the measurement!
To access these new time frames, click on the time frame drop-down menu in the top left corner of your toolbar. Quarterly and Yearly time frames will be selectable at the bottom of the list.
Like any other time frame available on the platform, it is possible to scan for quarterly and yearly conditions, as well as utilize them within the strategy tester.
You can also create alerts on any quarterly or yearly level, auto trendline or fib level, or indicator. To do so, simply right-click on the level or indicator of choice and follow the prompts as you would normally!
For users who are only interested in these larger time frame charts for the sake of understanding things like where the current price is relative to the previous quarterly or yearly open, close, high, or low, we recommend utilizing the Smart Checklist, as it lets you define exactly conditions like these without having to have the quarterly or yearly chart up on your screen.
To do this, first, create a script with the conditions you’re looking for. You can utilize up to four timeframes per script.
Then, open the Smart Checklist widget in your sidebar and load the script into the widget. As you can see in the below image. A day trader can view lower time frame charts and still have a firm understanding of these higher time frame conditions!
We hope this new functionality helps you in your longer-term analysis, and if you have any questions feel free to reach out to us via the ‘Contact Us’ button in the bottom right-hand corner of your chart view.