Setting Alerts With StockCharts.com Part 2
With our trading we do our best to make things as simple as possible. We label clear buy ranges, go over what needs to happen for an entry to be taken, set profit targets/stop losses, etc. For those who are able to monitor their computer a good portion of the trading day, it’s much easier to spot entries. However, some are unable to sit in front of their computer and monitor watch list trades as much as they’d like, and unfortunately don’t get as many entries as others. What we are going to work to do is create a series of adjustable alerts through stockcharts.com that you yourself can set/manage for specific stocks you are watching. These alerts, when triggered, will send you either an email or text letting you know the alert condition has been met. This will allow us, at those times when we aren’t in front of our computer, to know a certain stock is in our buy range, near a buy signal, and so forth. In this second video we will start by first reviewing the stock charts alert system and our previous alerts (Alert 1 and 2). We will then move into the next step in our series, which is being able to set up alerts to where you’re looking for more than 1 indicator to give you a clear buy (Alert 3).
Alert 1: Alert for when the price crosses down into your buy range. This will allow you to pay attention to other potential plays, and when this chart is within its buy range it’ll alert you. At that point you can start giving more attention to the chart.
Criteria: Copy paste the following into the alert criteria box. Make necessary adjustments depending on symbol/price.
[symbol = 'CCJ'] and [close < 12.50]
Alert 2: Alert for when a specific indicator begins to increase in value. This can be good in a variety of situations. For example if you’re currently watching a stock and notice that 1 specific indicator is leading the rest and want to know as soon as that indicator starts to increase in value to serve as a warning that the buy signal has begun to form with 1 of the 4. This can signal that a buy is near. We will be able to build this specific alert as we progress to signal in situations where you have a ¼ or 2/4 buy signal and need 1 or 2 of the remaining indicators to start increasing in value. You’ll be able to set an alert to where if that happens and a buy signal is given, you’d receive an alert. For now we’ll focus merely on 1 to get the basics down. Video 2 will address pairing multiple indicators together for buy signals.
Criteria: Copy/paste the following into the alert criteria box, depending on the indicator. Make necessary adjustments depending on symbol/Indicator level.
[symbol = 'GG'] and [RSI(12) > 35]
[symbol = 'GG'] and [MACD Line(5,9,4) > -0.435]
[symbol = 'GG'] and [MFI(12) > 30.5]
[symbol = 'GG'] and [Slow Stoch %K(12,2) > 8.5]
Alert 3: Alert for when more than 1 indicator starts to curve up and give a buy signal. This can be ideal when you have 2, maybe even 3 indicators near a buy signal on your nightly watch-list and want to set an alert for the morning which targets the 3 indicators closest to a buy. When all 3 are greater than a certain value, signaling they are in buy position, you will receive an alert.
Criteria: Will vary depending on the indicators you are targeting. You’ll need to know the basics of the alert system to be able to set-up your alert. The good thing is it is not hard to grasp after some practice. Simply follow the instructions in the video.
Setting Alerts With StockCharts Part 2