Keystocks-Lite Technical Analysis Software (EOD)

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Study Tools


Keystocks Software offers variety of study tools including fibonacci tools, Some of them are listed below :

1) Fibonacci Retracement : This analytical drawing tool examines support and resistance levels, as well as price breakouts. It is represented by a series of horizontal lines that intersect the trend line (drawn between two extreme points) at the Fibonacci levels or selected distance percentages. Retracement levels alert traders or investors of a potential trend reversal, resistance area or support area. Retracements are based on the prior move. A bounce is expected to retrace a portion of the prior decline, while a correction is expected to retrace a portion of the prior advance. Once a pullback starts, chartists can identify specific Fibonacci retracement levels for monitoring. As the correction approaches these retracements, chartists should become more alert for a potential bullish reversal

2) Fibonacci Extension : Fibonacci Extensions include three price points. These are swing high, swing low and the swing point at which price of a stock reversed from a retracement. Fibonacci Extension levels can be determined in any chart by three clicks of mouse.

3) Fibonacci Fan :This analytical drawing tool indicates support and resistance lines of an existing trend and the price level at which possible changes in the trend may occur.

4) Fibonacci Time Study : This analytical drawing tool is represented by a series of vertical lines, and it indicates significant price movements near them. These vertical lines are spaced according to the Fibonacci number sequence (0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, …).

5) Trend line : Trend line is drawn by connecting local peeks and throughs on chart. They roughly show us what we can expect in the future. Depending on their directions trend lines could be: upward trend lines and downward trend lines. The upward trend line is drawn by connecting successive minimums and has upward direction, while the downward trend line is drawn by connecting successive maximums and has downward direction.

6) Extended trend line is similar to trend only difference is, as its name suggests that it extends on right hand side of chart.

7) Parallel Lines / Channel : You can draw channel by drawing lines which are parallel to each other, very useful tool for securities trading in channel.

8) Andrew Pitchfork : This drawing tool helps predict the support and resistance areas in a trending market. It consists of three parallel lines usually drawn from three consecutive major peaks or troughs.

9) Horizontal lines are one of the best tools to mark support and resistance zone on any chart. KeyStock software have indicator named "Support and Resistance" which will draw the horizontal lines automatically based on previous peaks and lows.