Before I get into the chart data tools, I want to warn against a quick and easy way to freak yourself out via intimidation. If you just jump into the tools without any sort of learning plan, the charts themselves are going to look like Chinese to you and flood your emotions with the sense of being overwhelmed. Of course, I hope you choose to invest in my training program to learn charts and eliminate the intimidation factor, but even if you don’t, please realize this guide will offer you very little use (other than intimidating you) if your plan is “I will make it up as I go along”.
One other point to note. There is “personal preference” that goes into all of this. One chart provider may not “look and feel” right to you, but to someone else, they may absolutely love the “feel”. There is no right or wrong answer to the chart provider you choose.
Let’s get to the tools. I list them from least experience I have with them to the most experience.
#4 Online Broker’s Platform
This is just a general place you can start. Assuming you have an online broker already (if you do not, no big deal, no need to worry), look into what they offer. Some broker’s include charts as long as you put money into your account, other’s offer them free of charge, and yet others make you pay for them, even if you have money in your account. The point being, the range of possibilities out there is vast among all the various online brokers. Even if your broker does offer charts, I would still compare them to the other sites. I’m the perfect example, the online broker I use includes charts with their platform, but I don’t like them at all. Their “look and feel” just don’t fit my personal preference, so I use a 3rd party chart provider.
#3 StockCharts.com
While I can’t say for sure, I believe this site has been around the longest and is essentially the Grand Daddy when it comes to accessing technical charts online. They’re a great site that includes free charts. In fact, I still use them to this day for the charts that I annotate and include in my weekly Power Profit Scan email newsletter. The one big draw back with them is the charts do not “stream”. Meaning, if you want to see how a chart has updated from one 5-minute period to the next 5-minute period (random example), you would need to hit the “Refresh” button on your browser. All other chart provides discussed in this guide have the “streaming” capability. Whether or not this is a deal breaker for you depends on what your trading strategy is, but if you want to be a day trader, this site is not a practical tool.
#2 TradingView.com
This is a great site. To be honest, I would use them as my main chart provider, but I do not (the reasons explained in the next section). Their free version is annoying with ads here and there, but whatever, who am I to complain… it’s FREE! It depends on what you are watching (stocks, Forex, futures, etc.), but they offer real-time streaming charts. Real-time is important because some chart providers will give you charts, but the information they are showing you is 15-minutes old. Not a good situation if you are trying to day trade! Overall though, from a personal preference “look and feel”, I just really like what they got going on.
#1 eSignal.com
They offer (my opinion) absolutely beautiful looking charts, and the customization functions are as vast as the stars. With that being said, they are not worth the price they charge when you consider the other choices available. They do not offer any free services, so that is completely off the table. Why do I use them if they are overpriced? Simply put, it provides paying customers with the best overall experience when I am mentoring and coaching. If I was “just trading” and did not have the coaching business, I would be using TradingView.com. Still, though, this is personal preference. If you look at them and just LOVE what they have to offer, and feel that their price is well worth it, then you know what? Go for it! It is YOUR personal preference and YOUR money, so you do whatever you feel is best for your personal trading.