A Powerful Charting Tool
Parity incorporates traditional Open, High, Low, Close charts, Line and Bar charts, Japanese Candlestick charts, Point and Figure charts, Equivolume charts, Horizontal Bar charts, and a Price at Volume chart which is similar to The Crocker Chart©.
Parity's charting capabilities permit you to graph a security's price, volume and up to nine indicators in a single chart using any combination of stacked or overlapping panes, each of which can include one or more indicators.
Parity Plus is designed to take full advantage of the Windows Graphical User Interface. The program permits the user to design sophisticated charts of stock price data using a wide range of technical indicators and tools.
In order to manage the profusion of sophisticated charts you can design with Parity, virtually all of its settings can be saved to disk and recalled for another Technical Analysis Session.
In addition, Parity provides a graphical Display Matrix that permits the user to easily jump from stock to stock and study to study.
Parity Plus includes sophisticated profit testing and optimization tools that let you test your trading strategies against all the securities in a group. You can summarize the results of a profit test for an entire group or examine summary and transaction details for every security in the group. Parity Plus even lets you chart the cumulative profit and profit by position against price.
With Parity Plus' scanning and filtering features you can generate a custom report showing the values of any indicators or user defined formulas you want for all the stocks in a group or screen for only those securities that meet your conditions.
You can create your own mathematical calculations and your own indicators in Parity Plus 2.1. Simply, you can tailor the program around your needs.
Test your strategy with Parity’s Profit Test
Parity Plus includes sophisticated profit testing features which permit you to define a technical trading strategy and test the results of that strategy against your historical data. Parity Plus permits you to run the tests you design on a single security or on all the securities in a group. You can examine the results of your trading strategy at several different levels of detail including tables which show all the trades for a security, a summary of trades for the security, or a summary for all the securities in a group.
Parity's ability to create a chart showing stock price, position status, cumulative profits, and profits per position at the click of the button for each security you test is another powerful feature.
Perhaps the most common problem technicians encounter is what value to use for their favorite technical indicators. For example, are 40 day moving averages more predictive than 50 day moving averages or is the best values some place in between? To help answer these questions, Parity Plus includes a powerful Optimizer tool which lets you specify a range, and step value, for up to five variables you might want to test. Using the Optimizer you might set the value of the OptVar1 variable to range from 30 to 50 in steps of 2 units. When you run an optimized profit test, Parity substitutes the appropriate value for the variable for each run through a group. When testing is completed Parity Plus shows you a table with the results of each iteration through the range you are optimizing for and lets you sort the results for total return. Using this approach you can quickly and automatically determine the optimum values to use in your indicators.
Parity Plus lets you name and save an unlimited number of profit tests in exactly the same way you use Groups, Studies, or Batches. You can select a new profit test at any time and run that profit test against the current group, or the current security.
Manage your stocks and analyze them effectively
One of the most innovative aspects of Parity is its unique use of Groups of Stocks, Batches of Studies, and Clusters of Charts in order to simplify the analysis of a large number of securities at one time.
Group of Stocks: A powerful feature of the program is its ability to define a Group of securities that can be displayed in any sequence using the Display Tools. You can define an unlimited number of Groups.
A Group is a list of security price data files, in any supported format, located in any directory, on any disk. You might prefer to think of a Group as a portfolio of stocks or a list of ticker symbols. Group definitions can be edited, reordered and deleted at any time. All defined Groups can be saved to disk for reuse in subsequent sessions.
Parity permits you to mix data files in different directories, in different formats, and of different sizes within a single Group.
When you create your own "Composite Index", you also can embed a Composite/Group within another Group.
Batches of Studies: With Parity Plus you may create your studies. A study defines how you want Parity Plus to chart an individual security, regardless of which security is chosen. As example you can define
- How the price data is displayed, bar chart, line chart, candle sticks
- Where and whether volume is displayed
- What indicators and formulas are plotted on the chart and where
- How individual panes are stacked and overlapped and what their relative sizes are.
- And much more
Thereafter a batch defines a list of studies that will be displayed. |
