Robinhood (HOOD) Launches Advanced Charts
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Robinhood (NASDAQ: HOOD) announced:
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 number one most requested feature from our 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.
Our 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, we 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
While advanced charts are the latest example of how Robinhood is committed to providing the best user experience for our more advanced customers, they can also be a valuable tool for novice investors to help them make more informed decisions on their investments. Since the beginning of the year, we’ve launched several new products and features that benefit our advanced traders. Those include:
Brokerage Cash Sweep: All eligible brokerage customers earn 1.5% interest* on uninvested cash, helping them put their money to work and earn extra income. This rate went up from 1% to 1.5% just last week.
Expanded OTC Trading: In July we launched over 300 new American Depositary Receipts (ADRs), which are now available to trade on Robinhood. They can be seen in the Trending List "New OTC securities" right within the app.
Options Trading in Cash Accounts: Advanced customers with a cash account can trade stocks, ETFs, and now options without worrying about their number of day trades.
Stock Lending: By enabling stock lending, customers give Robinhood permission to lend out any fully paid stocks in their portfolio. Robinhood does the work of finding interested borrowers, and customers get paid when there’s a match.
Options Trading Essentials YouTube Series: Because options trading carries significant risk, we launched this educational YouTube series to help people understand the fundamentals.
Extended Hours Trading: As an important step towards one day offering 24/7 equities investing, we launched new extended hours that allow customers to trade from 7 a.m. to 8 p.m. ET on trading days.
Shareholder Q&A: Everyone should feel a sense of ownership in the companies they invest in, which is why we launched Shareholder Q&A, powered by Say, directly within the Robinhood app. It enables customers to ask questions to the leaders of the participating companies that they invest in–right within the app.
Options Rolling: There are a number of reasons a customer might choose to roll an options position, but typically the goal is to extend duration. This allows a customer to close a position (thereby realizing any gains or losses) prior to expiration while establishing a similar position further out in time. Note: you cannot roll options from a cash account.
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