A new type of price chart that combines price and volume
TrendSpider's proprietary Raindrop Charts are designed to enhance your edge by combining price action, volume and sentiment into a new, simple and powerful of chart visualization.
Raindrops can show you if there was any volume behind a move or not. If you see a big green candle breaking out, but on the Raindrop chart you see just a small wick, it's a nudge to be suspicious.
Traditional candlesticks have a blind spot: volume. They tell you nothing about the strength of a move. Raindrops are different.
Blue Doji Raindrops are a great way to identify periods when the market is confused or trying to determine which direction to move in.
Identify the strongest moves by looking for Balloon-shaped Raindrops on your chart. Balloons are powerful patterns formed when volume congregates at an extreme.
Raindrop Charts aren't just for charts - they work across all of TrendSpider. Test Raindrop strategies with the Strategy Tester, search the market for Raindrop patterns with the Market Scanner, and create alerts using Raindrop Charts.
Unlike traditional candlesticks, Raindrops do not have open or close prices. They are constructed from a high, low, left VWAP and right VWAP. The first half (left side) of each Raindrop represents the first half of the trading period, the second half (right) represents the second half. The width of each side represents the amount of trading volume that occurred at each price level. The dashes are the VWAP for the respective period.
Interested in the technical details? Download the white paper for a full explanation on how Raindrop Charts work and are constructed.
See how traditional candlestick charts change when viewed through a Raindrop lense. To use the tool, just drag the control circle side-to-side. The Raindrop Chart will always be on the right side of the line.