Let me show where you can get best free live charts of Stocks, Indexes, commodities or Currencies for Elliott Wave Theory Analysis. Most of the traders or learners are not tech save, so I am explained here step by step with screenshots. Many of my students and followers ask me these questions:
- What Charting Software you use for Elliott Wave Theory Analysis?
- Do I need any software for learning Elliott Wave Analysis?
- Where to get live charts of Nifty and stocks for Learning Elliott Wave Theory Analysis?
I don’t use any charting software but I use free charts from different free resources for Elliott Wave Analysis and I used same free charts in my analysis reports and my book.
Actually, it needs clean and clear charts without any extra distraction for Elliott Wave Analysis as main task in Elliott Wave Analysis is to identify waves and waves can be identify only where there is no distraction on chart. And free charts of www.investing.com are best for using in EWT analysis especially for learners who can’t afford extra expenses on charting software.
Two things you need to take care on charts when doing Elliott Wave Analysis:
- Use Bar charts instead of Candle or Line charts as it is easy to identify exact top and bottom of a wave on Bar Chart. It is my own experience otherwise you can use whatever you feel better.
- There should not be any extra line or extra indicator on chart as these extra elements distracts in counting waves.
Why www.investing.com charts are best for Elliott Wave Theory Analysis?
- It has full size clean and clear charts with white background which makes it easy to identify waves. You can see the charts in many of my previous Elliott Wave Analysis reports. All these charts are of Investing.com only.
- It has both the option for Bar Chart and Candle Stick Chart.
- It has options for all time frames which includes 5 minutes, 15 Minutes, 30 Minutes, Hourly, Daily, Weekly and Monthly which covers time period of last 12 years.
- There is option to zoom in and zoom out the chart to change the time period in specific time frame. It is most important feature you needed for Elliott wave analysis.
How to use Investing.com charts for Elliott Wave Theory Analysis?
Just open website www.investing.com and you will see a webpage on your screen as shown below.
After opening this webpage just look around. There will be a search box at top of the pages as I marked on above screenshot in a red box. You can type the name of any stock, index, commodity or currency to get a list of options in drop list. Like I typed “Bank Nifty” in search box and got a list in drop box showing Bank Nifty Index and Bank Nifty Futures.
Or you can type code of Script if you already know. Example, code of Nifty Index is NSEI. Click on script you want and there will be chart on next screen as shown below. I am showing the Nifty Chart below.
In next step, you will get a simple chart as I shown in screenshot above with volume indicator below. Here you need to click on “Technical Chart” option at right upper corner of chart as marked on above image. After clicking on technical chart, you will get another chart on your screen as shown in below given screenshot.
In next step, you need to click on “Interactive Chart” at left upper corner as marked on above screenshot to get actual chart you need for Elliott Wave Theory Analysis. See the screenshot below.
Here I shown only the screen shot of chart you will see on webpage to make you understand better. Just look around this whole chart and you will many options. Most important features I marked on chart with numbers:
- Click on button marked as option 1 in red circle to change Bar Chart as shown on above screenshot. There is one more button at right indicating candles to change Candle Stick type chart if you want.
- Option 2 marked as red rectangle is to change the time frame of chart. Click on the buttons to change the time frame which you needed in range from 5 minutes to monthly.
- Option 3 marked in red rectangle named “Studies” is for another technical indicators. It is not needed for Elliott Wave Theory Analysis but use it if you want other technical indicators like RSI, MACD, and BB etc. Just click on it to see the options.
- Option 4 marked in red circle below the chart is to zoom in/zoom out the chart. It is most important feature you needed for Elliott Wave Analysis as you can change the time period of chart for specific time frame which further helps to identify waves easily. Just place cursor on button, left click and hold and move that button left and right as indicated.
Just play around this chart clicking features given there to get familiar with everything you can do.
Note: These Investing charts are live but are 10 to 15 minutes delayed. These charts are best for short term analysis, long term analysis and EOD analysis but it may be difficult if you are trying to catch next 15 to 60 minutes of move. I used these charts only in my Elliott wave analysis reports of Nifty. Just observe the charts for at least a day during live market hours to get familiar.
Chart you can use for live intraday trading with Elliott Wave Analysis:
The charts till last 15 minutes of market move you can get at Investing.com, further you can use Yahoo finance live chart to confirm latest live waves. Type this link “https://in.finance.yahoo.com/echarts?s=%5ENSEI#symbol=%5ENSEI;range=1d” in your browser and you will see a chart on your screen as shown in below given screenshot.
After getting this chart, use the features shown in next screenshot to get the chart you needed for Elliott Wave Analysis.
There will be option at top of chart named as “Chart Setting”. Click on chart settings and then on “Line type” from drop down menus and then click “OHLC” for bar type chart as you can see on above screenshot.
There are buttons below to change time period of charts. Use “1D” for intraday chart and “5D” for last 5 Day’s Chart. Use only Intraday chart to confirm the lasts waves delayed in investing.com charts.
Just play around these charts of Inveting.com and yahoo finance, you will definitely find most appropriate chart you needed. These charts are absolutely free you can use for Elliott Wave Theory Analysis especially for those who are learning and don’t want to spend extra money on paid charting software.