Honestly, we rarely get feedback as positive as the letter below. I wanted to share it with everyone as a reminder that they should try out the Arms CandleVolume charts that we introduced last week for all the reasons Jaime mentions. - Chip
I was floored when I stumbled upon Arms Candlevolume shortly after it became
available on StockCharts.com over a week ago. I've been using equivolume for
many years, and it is the only chart type I use. I grew up in Albuquerque,
NM, where Mr. Arms is based, and I worked for a money management firm
affiliated with Dick Arms for a while in the late 1990s.
As a new subscriber I wanted to thank you for all the hard work
you've put into this amazing cloud-based app. For years I used Metastock and
was frustrated with the data maintenance and cost of the program.
StockCharts.com is a disruptive technology that has dramatically changed the
way I utilize charts for the better. For the first time, I'm using all my
time analyzing charts and none of my time on data maintenance.
With regard to Arms CandleVolume, I think you've done an excellent job.
Unlike regular equivolume, I can now quickly see some of the intraday
activity in each box. As a primarily long investor, I especially look for
wide hollow boxes at the bottom of a stock's trading range. Those days, in
particular, not only show where demand is meeting supply, but if the candle
is "hollow" (white) you can quickly see a reversal taking place where the
sellers have run out of volume to dump and buyers are coming in big. This is
a great buy signal. Previously, I had to switch to intraday constantly to
get a picture of what was going on. Not all "oversquare" boxes are the same.
One comment: at first the new chart style looked a bit noisy or confusing,
especially since you leave the vertical bars outside the open and close
visible. Later I realized it's actually great you leave it visible since
there are days where the open or close is right at the high or low - the
"wick" of the candle needs to remain visible as a result.
Thank you and your developer team very much for quickly incorporating the
comments Mr. Arms made at the conference. You all provide an excellent
You are very welcome Jaime. - Chip