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TriggerChart by Eagle River Software LLC is a fast and easy method of testing trading strategies using different technical indicators, identifying buy/sell points using those strategies, and displaying charts for stocks.
TriggerChart uses technical indicators as “triggers” which are user-adjustable and may be used individually or combined to identify a buy or sell condition for a stock. These triggers are:
Each trigger gives you a green up arrow when it indicates that it is in a buy condition and a red down arrow for a sell condition.
Below is an example showing only a portion of a chart. You can see the green up arrow at the bottom left which (in combination with other triggers not shown) resulted in TriggerChart “buying” this stock. In the top right you can see the red down arrow (along with other triggers not shown) caused TriggerChart to exit the trade. The yellow line shows the actual trade which resulted in 39% profit in 87 days.
We’ll go through the chart features later, but the bottom line is that TriggerChart used these triggers to identify an entry and exit point for the trade. This helps to provide clear and consistent trading signals instead of simply "guessing" when you should buy and sell. Those signals also help to remove much of the emotion we all face when trading. Obviously, TriggerChart is not some kind of crystal ball that can predict the future. It will identify trades that are profitable as well as trades that don’t work out and result in a loss. But the goal is to minimize the loss potential while trading with a consistent method that has clear buy and sell signals.