It’s nearly impossible to find anything of value for free, especially when it comes to trading. Sometimes, though, you stumble across some decent tools, and you have to share them. Now, where do you think you might find free stock charts? Well, apparently you can find them at FreeStockCharts.com – who knew?
This is a relatively new service and site, I assume. I only heard of it for the first time sometime in the past few months. It’s run by Worden though, which has been around a while. They’ve been doing Silverlight charts for at least a year now, maybe longer, I’m not sure. Well, big deal, you might be thinking, what about StockCharts.com and BigCharts.com? FreeStockCharts.com offers some things neither of those sites offer.
First off is their free intraday stock charts. These are streaming, customizable, realtime intraday charts. This is something I haven’t seen before in a free online platform, especially with this level of customizability. They offer all the standard indicators (from ADX to VWAP) and time-frames from 1 minute to 1 year. You can also change the style of the chart (OHLC, Candlestick and Line) and you can adjust the colors to your liking. They also have a place where you can log into your Broker, but the only broker available is TD Ameritrade. I’m not sure what the purpose of this is, as it doesn’t look like you can trade through this platform. I could be wrong though. One of the coolest things for me, an Apple fanboy, is that you can run these charts on a Mac because it uses your browser as long as you have Microsoft Silverlight installed.
Now, despite these being free realtime stock charts, I wouldn’t go day trading off of them. The first obvious reason is that there doesn’t seem to be a time/sales (the tape) option anywhere. This intraday stock data is absolutely crucial for day trading. Another reason is that they don’t seem a sharp or fast as other platforms. Ninja Trader and eSignal are much faster, and you can trade off of these platforms, but these luxuries come at a premium.
FreeStockCharts.com is a pretty cool way to keep an eye on the stock market during the day or on a day-to-day basis, especially for those of us stubborn Mac users who are just waiting for the day that someone creates a full-featured trading platform for Macs. These are the some of the most feature-rich free charts I’ve seen, and the platform is very similar to something you’d pay $100 or more a month for the pleasure of using. There seem to be some weak spots, at a cursory glance, but overall, this is a pretty awesome advancement in the world of free intraday stock charts.