Robinhood introduces advanced charts
Beginning today, Robinhood is launching new advanced charts, giving all customers customizable, quick, simple and in-depth analysis right in the app.
Advanced charts are the most requested feature from Robinhood’s active customers, as they provide more information about different assets and help investors find opportunities to enter or exit positions. Advanced charts are beginning to roll out today with broad availability expected to come by early October.
Advanced charts empower all customers to visualize, research, and analyze stock prices to better identify trends and improve trading confidence. More advanced and active traders have a specific need for features that help them make quantitative, analytical decisions rather than, at times, relying on gut feelings.
The advanced charts provide users with this real-time data to support their investment needs. With a scrubbing feature that allows customers to compare their securities at specific points in time, these charts enable investors to make informed decisions about when to enter or exit a position.
Applicable indicators can also be modified based on specific parameters like time period, fast and slow period, and more. At launch, Robinhood will offer the following:
- Moving Average (MA): Allows customers to track the price movements of a security over a defined period of time
- Relative Strength Index (RSI): Measures the price momentum of a stock or security;
- Volume: Evaluates a stock or security’s bull and bear power by determining which side is in control of price action when it comes to buying vs. selling power;
- Moving Average Convergence Divergence (MACD): Shows the relationship between two averages in a stock or security’s price;
- Exponential Moving Average (EMA): Tracks the price of a stock or security over time with more weight given to recent price data;
- Volume-Weighted Average Price (VWAP): Determines what the average price of a stock or security is based on both price and volume;
- Bollinger Bands: Characterizes the price and volatility of a stock or security over time using a formulaic method.
Since the beginning of the year, Robinhood has launched several new products and features that benefit its advanced traders. Those include Brokerage Cash Sweep, Expanded OTC Trading, Options Trading in Cash Accounts, and Stock Lending, as well as new extended hours that allow customers to trade from 7 a.m. to 8 p.m. ET on trading days.