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Our MarketCarpet page lets you see “at-a-glance” what an entire market is doing. Individual stocks are represented as squares that are colored on a green to red spectrum. With the standard color scheme, the green stocks are performing relatively well and the red stocks are performing relatively poorly. In this way, MarketCarpets can show a lot of information in a small area.

A sidebar on the right allows you to view the performance of a stock or sector on a line chart. Likewise, it displays the best and worst performers from the group you have selected.

MarketCarpet example

MarketCarpets are great for visually scanning and ranking a large collection of stocks at once, or quickly finding the best and worst performers for a given time period. They are designed to be graphically efficient and are especially useful for sector analysis. Like securities, market sectors also trend, and MarketCarpets are a fantastic tool for identifying the strength of a sector. Analysts can then use MarketCarpets to determine the strong securities within the sector.

Creating A MarketCarpet

There are several ways to create a MarketCarpet on including:

Once on the MarketCarpet page, you can select a different predefined MarketCarpet from the dropdown menu below the chart.

To create a custom MarketCarpet with stocks you select, first create a ChartList with up to 500 of those selected symbols in it, then view that ChartList in MarketCarpet mode.

Parts of the MarketCarpet Page

There are several important sections of the MarketCarpet page:

MarketCarpet with Labels

  1. The MarketCarpet itself
  2. The Current Technical Indicator
  3. The Color Spectrum
  4. The Chart Icons
  5. The Selected Symbol's Chart
  6. The Top 5/Bottom 5 Lists
  7. The Date Slider
  8. The Predefined Group Dropdown
  9. Additional Resources

The use of each of these sections is described below.

Note that the numbers that appear inside of the carpet's squares (1 thru 5 and -1 thru -5) correspond to the Top 5 and Bottom 5 ranked stocks.

Working With MarketCarpets

Getting Information from the Carpet

You can move your mouse over the carpet to see information about each one of the squares, including which company they represent, their current data values, etc.

Clicking on a square causes that stock's mini-chart to appear in the upper right corner of the page. The buttons above the mini-chart allow you to quickly launch a P&F Chart, PerfChart, or SharpChart for the selected stock.

MarketCarpets are often about finding outliers - the bright red and bright green squares. Those stocks are usually listed in the “Top 5/Bottom 5” area. In addition, look for general clusters of greens versus reds. For example, on the S&P 500 Sector Carpet, which sector is the most green? Which is the most red? How does that change as you move the slider?

Changing the Carpet's Time Period

You can use the slider at the bottom of the chart (#2 in the image above) to change the chart's starting and/or ending dates. The starting and ending dates for the selected date range are displayed above the chart.

You can use your mouse to adjust the slider in the following ways:

There are several keyboard equivalents that you can also use to adjust the chart's start and end dates:

Note: You may need to click once on the MarketCarpet before the keyboard controls will work.

Changing the Carpet's Technical Indicator

By default, MarketCarpets use Price data to color their squares. Using the dropdown box in the upper left corner of the chart, you can choose from many technical indicators, including:

More information about these indicators can be found in our ChartSchool Indicators area.

For some of the indicators, a Delta button will appear next to the indicator dropdown, allowing you to toggle between Change Mode and Absolute Mode.

When the button is white, the indicator data is in Absolute Mode, and the carpet is calculated based on the actual values for the indicator (e.g. the RSI value).

When the button is gray, the indicator data is in Change Mode, and the carpet is calculated based on the amount of change in the indicator values over the selected date range (e.g. the change in RSI value over the selected 2-day period).

Other Carpet Options

You can right-click your mouse in the middle of the carpet to bring up a menu of additional options including:

Saving MarketCarpets

Members can click the “Permalink” link located below the carpet to get a link to their MarketCarpet that can be bookmarked and/or used in web links.

Viewing ChartLists in MarketCarpet Format

Members can also use MarketCarpet charts to view ChartLists. From the Members Dashboard, you can select “MarketCarpet” from the “View As” dropdown next to the ChartList you wish to view. Or you can switch to MarketCarpet format from other ChartList formats such as Summary, GalleryView, or CandleGlance. Select “MarketCarpet” from the “View List As” dropdown.

The MarketCarpet View will display all the charts on your ChartList in MarketCarpet format. Above the chart, you can use the “Select List” dropdown to choose a different ChartList to display.

You can add or edit notes for the entire ChartList by clicking in the ChartList Notes box at the bottom of the screen. Click the Save button once you've made your changes. For more editing functionality, use the Edit List button at the top of the screen to load the ChartList in Edit View.

The Delete List and New List buttons can be used to delete the current ChartList and create a new ChartList, respectively.

Additional Resources


Next Up » Relative Rotation Graph (RRG) Charts