MarketCarpets

MarketCarpets

Our MarketCarpet page lets you see “at-a-glance” what an entire market is doing. Individual stocks are represented as squares that are colored on a green to red spectrum. With the standard color scheme, the green stocks are performing relatively well and the red stocks are performing relatively poorly. In this way, MarketCarpets can show a lot of information in a small area.

A sidebar on the right allows you to view the performance of a stock or sector on a line chart. Likewise, it displays the best and worst performers from the group you have selected.

MarketCarpet example

MarketCarpets are great for visually scanning and ranking a large collection of stocks at once, or quickly finding the best and worst performers for a given time period. They are designed to be graphically efficient and are especially useful for sector analysis. Like securities, market sectors also trend, and MarketCarpets are a fantastic tool for identifying the strength of a sector. Analysts can then use MarketCarpets to determine the strong securities within the sector.

Creating A MarketCarpet

There are several ways to create a MarketCarpet on StockCharts.com including:

  • Click on the “Free Charts” tab and then click on one of the predefined MarketCarpets listed on that page.
  • Click on the “MarketCarpets” link in the “Charting Tools” area of the StockCharts Home Page.
  • Click on the “S&P MarketCarpet” link in the “Golden Line” of links on the StockCharts Home Page.

Once on the MarketCarpet page, you can select a different predefined MarketCarpet from the dropdown menu below the chart.

To create a custom MarketCarpet with stocks you select, first create a ChartList with up to 500 of those selected symbols in it, then view that ChartList in MarketCarpet mode.

Parts of the MarketCarpet Page

There are several important sections of the MarketCarpet page:

MarketCarpet with Labels

  1. The MarketCarpet itself
  2. The Date Slider
  3. The Selected Symbols Chart
  4. The Top 5/Bottom 5 Lists
  5. The Color Spectrum
  6. The Current Technical Indicator

The use of each of these sections is described below.

Note that the numbers that appear inside of the carpet's squares (1 thru 5 and -1 thru -5) correspond to the Top 5 and Bottom 5 ranked stocks.

Working With MarketCarpets

Getting Information from the Carpet

You can move your mouse over the carpet to see information about each one of the squares, including which company they represent, their current data values, etc.

Clicking on a square causes that stock's mini-chart to appear in the upper right corner of the page. The buttons above the mini-chart allow you to quickly launch a P&F Chart, PerfChart, or SharpChart for the selected stock.

MarketCarpets are often about finding outliers - the bright red and bright green squares. Those stocks are usually listed in the “Top 5/Bottom 5” area. In addition, look for general clusters of greens versus reds. For example, on the S&P 500 Sector Carpet, which sector is the most green? Which is the most red? How does that change as you move the slider?

Changing the Carpet's Time Period

You can use the slider at the bottom of the chart (#2 in the image above) to change the chart's starting and/or ending dates. The starting and ending dates for the selected date range are displayed above the chart.

You can use your mouse to adjust the slider in the following ways:

  • You can left-click on the middle of the slider's thumb and drag it left or right to change both the starting date and ending date. This allows you to “slide” your chart forward and backward through time.
  • You can left-click on the left edge of the slider's thumb and drag it left or right to change the chart's starting date.
  • You can left-click on the right edge of the slider's thumb and drag it left or right to change the chart's ending date.
  • You can right-click on the middle of the slider's thumb to see a menu of common chart durations.

There are several keyboard equivalents that you can also use to adjust the chart's start and end dates:

  • You can use the left and right arrow keys to move the entire slider's thumb left and/or right.
  • You can hold down the Shift key and then use the left and right arrow keys to change the chart's starting date.
  • You can hold down the Control key (Cmd on a Mac) and then use the left and right arrow keys to change the chart's ending date.

Note: You may need to click once on the MarketCarpet before the keyboard controls will work.

Changing the Carpet's Technical Indicator

By default, MarketCarpets use Price data to color their squares. Using the dropdown box in the upper left corner of the chart, you can choose from many technical indicators, including:

  • Price - the percentage change in closing price during the selected date range
  • SCTR - the StockCharts Technical Rank rating
  • Up Days-Down Days - a general breadth measurement
  • RSI - Welles Wilder's popular momentum indicator
  • PPO - A percentage version of the popular MACD momentum indicator
  • Bollinger Band Width - A measure of volatility
  • Bollinger Band Position - A measure of a stock's variation from its mean
  • StochRSI - A more sensitive version of the RSI
  • Aroon Oscillator - A measure of a stock's trend
  • Full Stochastics - Another popular momentum indicator

More information about these indicators can be found in our ChartSchool Indicators area.

For some of the indicators, a Delta button will appear next to the indicator dropdown, allowing you to toggle between Change Mode and Absolute Mode.

When the button is white, the indicator data is in Absolute Mode, and the carpet is calculated based on the actual values for the indicator (e.g. the RSI value).

When the button is grey, the indicator data is in Change Mode, and the carpet is calculated based on the amount of change in the indicator values over the selected date range (e.g. the change in RSI value over the selected 2-day period).

Other Carpet Options

You can right-click your mouse in the middle of the carpet to bring up a menu of additional options including:

  • Animate - causes the slider's thumb to automatically move forward through time
  • Hide/Fixed/Floating Info Box - enables/disables the information box that appears when you mouse over a stock on the carpet. In Floating mode, it the information box appears on the carpet next to your mouse pointer. In Fixed mode, the information box appears in the sidebar on the right. If you select Hide, the information box is not visible at all.
  • Show/Hide Ticker Symbol - enables/disables ticker symbol labels inside each box of the carpet
  • Show/Hide Top/Bottom 5 - enables/disables the numbering of the Top 5 and Bottom 5 stocks on the carpet itself
  • Market Cap Mode/Square Mode - switches between squares proportional to a stock's market cap and equally sized squares
  • Color Schemes - several color combinations to choose from. The default value is “Red, White, Green”.
  • Zoom In/Out - used to zoom in on one specific subsection of the carpet (e.g. one sector of the S&P 500 Sector MarketCarpet), or to zoom back out and view the entire carpet

Saving MarketCarpets

Members can click the “Permalink” link located below the carpet to get a link to their MarketCarpet that can be bookmarked and/or used in web links.

Additional Resources

Videos