Looking for the best stock charting software? Let’s see the important factors, how to choose it!
Types of stock charts
There are multiple kinds of stock charts:
- some show the stock price in different ways, like line charts, area charts, OHLC charts or candlestick charts (maybe with moving averages, dividend data or with patterns, like symmetrical triangle etc.)
- some show technical indicators, like MACD
- and there may be charts for the trading volume
There are also comparison charts. You can compare a stock’s price
- to competitors stock
- to other stocks of the same market
- to the index of the market
- to the foreign currency rate, if you are investing in a foreign country
What other features are important for a stock charting software?
There may be other factors, that may be important besides the supported chart types:
- platform: some charting softwares work in a browser (which is more or less platform independent), some are desktop application (meaning, it may matter, if you are using Windows, Mac or Linux), some are working on mobile devices, too – it is up to you, if you want to use it on mobile devices.
- if you want to share the chart, is it important
- how you can export a chart as image from the software
- what license applies to sharing the exported chart
- price: there are multiple ways for providing a charting software for free, and there are some that require a monthly or annual, subscription, some have a one-time fee
- supported countries: it is obviously a problem, if no charts are provided for your targeted country.
- other analysis capabilities, like technical indicators, or fundamental data.
Which one will be the best for you?
It depends on you actual needs, which charting software will be the best for you. Maybe the best way to choose is:
- deciding, which features are important from the ones above
- check the features of a couple charting softwares, whether they have it or not
- and try the promising ones
For the beginning, we recommend 5 softwares / sites that may be a good start: Trading View, StockCharts.com, Yahoo! Finance, CNN money, and our free stock charting software, Chartoasis Chili.