StockGrid
I can't count the number of times someone has said to me, "FibGrid has revolutionized my futures trading, can you get it to work on individual stocks?" So I have spent the past several months working on ideas that would provide a similar tool for securities that don't fit within the theoretical framework of FibGrid. The quest has ended with StockGrid, and I'm very excited to tell you about it. This hourly chart of FNSR may give a hint of why I'm excited.
IMPORTANT NOTE: In addition to StockGrid, we now have a service for traders who want to use FibGrid with individual stocks. If you use FibGrid and trade individual stocks, you might be interested in FibGrid Stock Update in addition to, or instead of, StockGrid.
[Click image to enlarge]
Uncover Hidden Support and Resistance
StockGrid is not FibGrid for stocks, but in my early tests it is nearly as powerful. The key to making StockGrid work is discovering a way to reliably identify key areas of support and resistance and which Grid levels to attach them to in order to produce the most reliable grid. These support resistance levels are based on recent trading history and allow us to draw all our Fibonacci levels for individual stocks even if they don't have the Elliott Wave structure we need to use with FibGrid. I think it is unlikely that 3x ETFs will exhibit long-term Elliott Waves, but even if the did, they haven't been around long enough to count them. Nevertheless, gives good levels for FAZ in the chart below.
[Click image to enlarge]
Find Support and Resistance in Multiple Timeframes
With StockGrid you can select the time frame to use to look for support and resistance and in this way will feel natural to traders who use pivot points. Just like with pivots, you can draw daily, weekly, or monthly StockGrids. However, don't think that StockGrid is just an automated tool to subdivide the area between pivot points as forex traders have done by hand for years. StockGrid is not FibGrid and it's not pivot points, it's not even the the Fibonacci pivots plastered all over the web; it is a unique tool to uncover levels of support and resistance.
These days, it seems like everyone is watching AAPL. From the charts, it almost looks like AAPL Is watching StockGrid.
[Click image to enlarge]
Not Just for Stocks
Just because FibGrid works well on YM doesn't mean you can't look at it with StockGrid also. IF you do, you might find some excellent trading opportunities. They seem to jump of the screen on this 5 minute chart.
[Click image to enlarge]
For our forex trader friends we'll show an hourly chart of the Euro with a monthly StockGrid.
[Click image to enlarge]
Help Support Innovation
One popular trading web site charges its members nearly $400 for an indicator that plots the same old pivots that have been around for years; everyone else pays even more. By purchasing StockGrid for $99.95 you help support my efforts to create innovative trading technologies to share with all of you. For current FibGrid customers, the price is only $59.95. StockGrid is currently only available for ThinkOrSwim, and StockFinder 5, but TradeStation and NinjaTrader versions should be available soon.
10 Responses to “StockGrid”
Another winner from Dr. Starr
love this study. I wanted it for TS but its not ready yet. If I bought it for tos, would you still give it to me for TS.
Mike
To get this to work properly on TradeStation it needs TradeStation version 9.0. 9.0 just went from "beta" status to "release candidate" status at the end of last week so the final release should be imminent. I'll plan on polishing up StockGrid for TradeStation 9.0 this weekend.
Does StockGrid wrks with ETF's like SPY and DIA, or Fibgrid is the better choice
FibGrid is the best choice for SPY, DIA, QQQQ, and IWM. All of these have been trading for long enough to display clear Elliott Wave structured needed by FibGrid and have the same basic wave count as the underlying indices.
StockGrid will work for those symbols and will show possible support and resistance, but they won't be the same levels as FibGrid. It is interesting to watch both, but if forced to choose, I would pick the FibGrid levels.
StockGrid is the better choice to draw support and resistance lines on inverse or levered ETFs. However, even here I would still want to watch FibGrid on the underlying index. For example, if I was trading SDS I would put StockGrid on my SDS chart but I would also be watching the S&P 500 on a chart with FibGrid at the same time. If forced to choose only one in this example, I would pick FibGrid on the underlying.
For sector ETFs, including inverses those with leverage (thinks like SKF) StockGrid is the only choice except for Elliott Wave counting power users who can count out waves and configure the parameters. Even then this approach won't work for all symbols.
TS ver.9 just went back into beta according to support last night, so I am not sure how long it will be before its out for good.
Shoot me an email if you have any of the other studies set up for TS 8.8. I have set most of them up, but their pretty weak overall.
mojoreef@gmail.com
take care
Can we use FibGrid with TradeStation on stock symbols ?
FibGrid for individual stocks on TradeStation would be cumbersome at the moment. You would need to create a wave count on your own for each stock and then set that in the indicator.
I hope to finish up StockGrid for TradeStation in the next few weeks. Also, as I mentioned in tonight's webinar, I may start a new service to provide and regularly update FibGrid settings for a number of individual stocks if there is interest.
Is StockGrid available on any other platforms than TOS> Thanks
Hugh,
StockGrid is also available for both ThinkOrSwim and eSignal. I have some beta test versions on other platforms that may or may not be available commercially depending on interest. Contact me through email or using the contact link if you have an interest in another platform.
David