

                               THE MARKET CHARTER

                                  (CHARTS.EXE)

                                 Version:  1.00


       CHARTS.EXE is a stock market analysis program that  allows you  to 
       display and analyze certain stock market price data on an  hourly, 
       daily,  weekly  or monthly  basis.  CHARTS  includes several  data 
       files and requires VGA graphics and a mouse.   You must  load your 
       mouse  driver  before running  CHARTS.  If  you do  not, then  the 
       program will exit immediately. CHARTS also allows you to print out 
       your  data  displays  to  an  Epson  or  Epson-compatible  printer 
       (REGISTERED VERSION ONLY, subject to change).

       CHARTS.EXE is a tool that can help you learn more  about technical 
       analysis of the stock market, any index in the stock market or any 
       stock in the market.  Using your new found  knowledge, you  should 
       be in a better position to make money in the  market.  One  of the 
       age-old questions asked by any market participant is, "Should I be 
       in the market?", or if you are already in the market, "When should 
       I get out of the market?". This program can help you better answer 
       these questions.

       This  program  charts  the  prices  and  many  technical  analysis 
       quantities for  any stock  or index  that you  have collected  and 
       maintained prices for. The prices can  be closing  prices only  or 
       high, low, and closing prices for  hourly, daily,  weekly, monthly 
       or yearly time intervals.  All data files are in easily modifiable 
       ASCII format so that you may keep track of the  stocks or  indices 
       that you  are most  interested in.   Data on  some of  my favorite 
       indices are included with the program.   Many more  come with  the 
       registered version of the program.

       This program is not  written for  the complete  computer or  stock 
       market novice.  I expect you to know your way around DOS and  your 
       favorite text editor. I expect you to know something of  the stock 
       market and a few of the basic terms used in  the stock  market and 
       in technical analysis.  If you want a recommendation as to  a good 
       book to  read to  increase your  knowledge of  technical analysis, 
       then I recommend "Technical Traders Guide to Computer  Analysis of 
       the Futures Market" by Charles LeBeau and David W.  Lucas (ISBN 1- 
       55623-468-6).  This book is available for around $65  from Traders 
       Press, Inc., P.O.  Box 6206, Greenville,  SC.  29606.   Write them 
       for  a  catalog of  other books  concerning the  stock market  and 
       technical analysis.
       

       I do not trade futures, I trade options,  mostly on  the OEX  (S&P 
       100  index).   It  is  exciting,  risky,   and  potentially   very 
       profitable.   Before  I wrote  this program  I used  to "play  the 
       market"  with  not much  real bottom-line  success.  Since  having 
       written this program, it has become  painfully obvious  to me  how 
       much I was just plain guessing about the market and  its direction 
       in days  gone by.   You will  not be  a success  in the  market by 
       guessing about the next directional move of the market.  You  need 
       a tool that will help you  analyze what  the market  is doing  and 
       likely to do next.  Guessing will bankrupt you (I should know -  I 
       was an inch from declaring bankruptcy 5 or 6 years ago).

       The point is this: if you want to guess about  the market  and its 
       direction, then  do not  play the  futures or  options market.   I 
       don't think you should even be in the stock market  at all  if all 
       you care about is guessing on its next direction.  If you are  not 
       interested in learning about the market,  it will  eat you  up and 
       all your money. There are a lot of sharks out  there and  they are 
       just waiting to eat you if you are  going to  remain a  small fish 
       (an unknowledgeable investor or speculator).


       SYSTEM REQUIREMENTS: Around 125K RAM memory, one disk  drive (hard 
       disk preferred),  VGA graphics,  and a  mouse.  Optional:  printer 
       (preferably Epson FX or compatible). 


       HOW TO START: Type  'FIRST', then  <ENTER>.  Read  the information 
       and follow the instructions.   Type 'DOCS',  <ENTER> to  print out 
       all documentation (hit <ENTER> again if needed).  Please  read the 
       documentation before running CHARTS.EXE.


                                NOTES ON USAGE:
                                ---------------

       After starting the program, the first thing you must do  is select 
       the data file you are interested in viewing  (some data  files are 
       not included and thus not viewable with the non-registered version 
       of this program).  Move  the mouse  and select  the data  file you 
       want  to  view  and  analyze.   Click   the  LEFT   mouse  button.  
       Alternatively, you may select the DOS shell option to go to DOS to 
       list  a  directory,  edit  a data  file, etc.   Type 'EXIT',  then 
       <ENTER> to return to CHARTS after  shelling out  to DOS.   You may 
       also click on the "USER SELECTED DATA FILE" option to view a  file 
       that is not on this menu but in the CHARTS directory.

       Next, select the start date of the data you want  to view.   Point 
       the mouse cursor to the date  desired, then  click the  LEFT mouse 
       button.   Next,  select the  end date.   There are  other options. 
       Below is a description of the commands on the date screen.
       

       Forward -  Select this option to move the dates forward.

       Backward - Select this option to move the dates backward.

       Start list - Select this option  to go  to the  first date  of the 
       data file.

       End list - Select this option to go to the last date  of the  data 
       file.

       All dates  - Select  this option  to view  all dates  in the  data 
       file.

       All page - Select this option to view all the dates listed  on the 
       screen.

       New index - Select this option to choose a different data file.


                               THE GRAPH DISPLAY
                               -----------------

       After having selected the data file  you want  to display  and the 
       chosen time interval, the program next graphs the price data.  The 
       prices are graphed for each date that you have selected. Some data 
       files contain high, low, and closing prices. If a data file is  in 
       this format, then the program draws  a vertical  line representing 
       the high and low prices for each day. A thick white dot  shows the 
       closing price. The data  filename is  shown in  the middle  of the 
       display on the left side of the screen. Prices are shown down  the 
       left side of the graph and dates are shown horizontally  under the 
       graph.  The  commands available  are shown  at the  bottom of  the 
       screen enclosed in boxes.

       Below are listed the various options you have at this point.

       Marking a  data point  - Mark  data points  by pointing  the mouse 
       cursor on the graph where you  want to  make a  mark (the  mark is 
       invisible, but data associated with that  data point  is shown  at 
       the top of the screen, to the left  if the  left mouse  button was 
       hit, or in the middle if the right mouse button was hit.  The data 
       is PRICE, DATE, DATA NUMBER or DAY NUMBER).  Click the  left mouse 
       button  OR  the right  mouse button  on your  desired data  point.  
       Generally speaking, for all operations that  draw lines,  you will 
       need  to  have both  left and  right data  points selected.   This 
       enables you to draw  channel lines,  Fibonacci retracements,  etc.  
       The price difference between two data points marked with the  left 
       and right  mouse buttons  is shown  at the  far top  right of  the 
       display.

       NOTE: You may enter Elliott wave counts or other data  or text  on 
       the graph by moving the mouse cursor to  the position  desired and 
       pressing the desired keyboard key.  Repeat as necessary.
       


       Lft and Rt - Select the  Lft box  to view  prior date  price data. 
       Select the Rt box to view subsequent date  price data.   Click the 
       left mouse button in either box to change dates, past or future.

       Sto (slow stochastics) - Point the cursor to this command  box and 
       press the left mouse button. Enter a time  period (I  like 9)  and 
       hit <ENTER>. The stochastics will be graphed at the bottom  of the 
       display.  The bright line is the %K slow  stochastic data  and the 
       less bright line is the %D slow stochastic  data.  Overbought  and 
       oversold areas are indicated by blue lines running horizontally.

       RSI (relative strength indicator) -  Point the cursor to the  left 
       side of this command box and press the left mouse button.  Enter a 
       time period (I like 9) and hit <ENTER>.  The RSI  will be  graphed 
       at the bottom of the display.  The bright line is the RSI data and 
       the less bright line is the moving average of the RSI.  Overbought 
       and  oversold   areas  are   indicated  by   blue  lines   running 
       horizontally.

       MF (money flow) -   Point the  cursor to  the right  side of  this 
       command box and press the left mouse button.  Enter a  time period 
       (I like 6) and hit <ENTER>.  The money flow will be graphed at the 
       bottom of the display.  The bright line is the money flow data and 
       the less  bright line  is the  moving average  of the  money flow.  
       Overbought and oversold areas are indicated by blue  lines running 
       horizontally.   Not  all data  files can  use this  indicator. The 
       registered version tells you which data files that money flow  has 
       validity for. The file NYA.ASC is the best data file  to use  with 
       this indicator.

       %R (percent R) -  Point the cursor to this command  box and  press 
       the left mouse button.  Enter a  time period  (I like  9) and  hit 
       <ENTER>. The  %R will  be graphed  at the  bottom of  the display.  
       Overbought and oversold areas are indicated by blue  lines running 
       horizontally.

       Pa1Pa2 (parabolics) -  Point the cursor  to this  command box  and 
       press the left mouse button.  If you clicked on the  left half  of 
       the command box, then you will graph one version of parabolics. If 
       you clicked on the right half of the  command box,  then you  will 
       graph the other version of parabolics.  Each parabolic can be used 
       to get an idea of when to exit a position in the market or when to 
       switch from long to short or vice-versa.

       LogSc - Point the cursor to this command  box and  press the  left 
       mouse button to graph the data using a log scale for price instead 
       of an  arithmetic scale.   This option  is only  good for  viewing 
       price data.  If you click on  a data  point, the  information that 
       appears  at  the  top  of  the  screen will  NOT be  accurate. The 
       registered  version  may  deal  with this  anomaly.
       

       MACD (moving average convergence-divergence)  -  Point  the cursor 
       to this command box  and press  the left  mouse button.   The MACD 
       will be graphed at the bottom of the display using  the parameters 
       found in the OPTIONS.FIL file.  The buy side MACD will  be graphed 
       if you clicked on the 'MA' side of  the box.   The sell  side MACD 
       will be graphed if you clicked on the 'CD' side  of the  box.  The 
       bright line is the differential moving average line  and the  less 
       bright line is the signal line.  Overbought and oversold areas for 
       each  specific  index  are   indicated  by   blue  lines   running 
       horizontally.  

       CCI (commodity channel index) -  Point the cursor to this  command 
       box and press the left mouse button.  Enter a time period (I  like 
       9) and hit <ENTER>.  The CCI will be graphed at the bottom  of the 
       display.  Overbought (+100), oversold (-100), and zero CCI  values 
       are indicated by the 3 blue horizontal lines.

       Bands - For data that has closing prices only, enter a period  for 
       a moving average. Bands indicating +/- 3.33 % above and  below the 
       moving average price line are shown on the display.

       For data files that have high,  low, and  closing prices,  enter a 
       moving  average  value (I  like 15),  then another  moving average 
       value (I like 2). The display will show the moving average of  the 
       highs and lows according to the first value entered and the moving 
       average of the closing prices for the  second value  entered. This 
       display can indicate overbought/oversold price levels.

       2MA (two  moving averages)  - Using  the values  contained in  the 
       OPTIONS.FIL file, the program  graphs both  moving averages  using 
       the closing prices. From this you can tell whether the  short term 
       trend is up or down.

       3MA.4  (three  or  four  moving  averages)  -   Using  the  values 
       contained in  the OPTIONS.FIL  file, the  program graphs  either 3 
       moving averages or four moving averages, based on  closing prices, 
       depending on whether you clicked on the left  side of  the command 
       box or the right side of the command box.  From this you  can tell 
       whether the short-term/intermediate-term trends are up or down.

       Draw - After you have clicked your left and right mouse buttons on 
       the two data points you are interested in, then select this option 
       to draw a straight line connecting those two data points (the data 
       points are shown at the top of the screen).  Click the LEFT  mouse 
       button on this option to connect the left and right data points.

       || -  Select this option in order to draw a  vertical line  on the 
       data point you selected with the left mouse button. Click  on your 
       data point, then click on this option with the LEFT mouse button.
       

       Cycles - Select your first data point with the left  mouse button. 
       Select your second data point with the right mouse button.   Click 
       the left mouse button on this command box  to draw  vertical lines 
       across the width of  the display  at equal  time intervals.   This 
       option allows you to see equal time intervals  or cycles  that may 
       exist in the market.

       ADX (average directional movement  index) -   Point the  cursor to 
       this command box and press the left mouse button.  Enter  a period 
       value (I like 9 or 18). The ADX will be graphed at  the bottom  of 
       the display.  The bright white line  is the  ADX value,  the green 
       line is the +DMI (directional movement index), and the red line is 
       the -DMI.  Use to ADX to find out whether the  market is  trending 
       or moving within a trading range.  A rising  ADX line  indicates a 
       trending market (up or down depending  on whether  the green  +DMI 
       indicator  line  is above  the red  -DMI indicator  line or  vice- 
       versa), whereas a falling ADX line indicates a  trendless (trading 
       range) market.

       KST (stochastic using 4 set periods) -  Point  the cursor  to this 
       command  box  and  press  the  left  mouse  button.   A  form   of 
       stochastics will be graphed at the bottom of the display according 
       to the data values in the  OPTIONS.FIL file.   The bright  line is 
       the %K slow stochastic line and  the less  bright line  is the  %D 
       slow  stochastic  line.   A  value  of  zero is  indicated by  the 
       horizontal blue line.

       AI/AD -  Select the AI (Arms Index) option  only when  viewing the 
       New York Composite data  file (NYA.ASC).   Enter a  value for  the 
       period (I like 10).  The graph of the n-period Arms Index will  be 
       displayed  at  the  bottom  of  the  graph.  The  upper blue  line 
       represents a TRIN of .75 and the lower blue line represents a TRIN 
       of 1.25.   An oversold  condition is  indicated when  the TRIN  is 
       below the bottom blue line.  Consider going long  the market.   An 
       overbought condition is indicated when the TRIN is above the upper 
       blue line. Consider shorting or getting out of the market.

       Below the  graph, under  the dates,  are displayed  green and  red 
       marks.  The green marks indicate when the 21 day TRIN is below the 
       55 day TRIN and thus, you  should consider  being long  or in  the 
       market. When the 21 day TRIN is above  the 55  day TRIN,  then the 
       marks are in red and you should consider being short or out of the 
       market.  The values of 21 and 55 can be changed  by modifying  the 
       OPTIONS.FIL file.

       A/D - Select this option when  viewing the  NYA.ASC data  file. It 
       displays the advance/decline line (dark blue), the summation index 
       (red),  and  the  advance/decline  oscillator  (green).   The  red 
       horizontal  line  represents zero  on the  summation index.  Also, 
       shown by red and green bars, are the  21 day  minus 55  day moving 
       average advance/decline data and the 19  day minus  39 day  moving 
       average advance/decline data.
       

       PPI -  Select this option to  display the  Price Phase  Indicator. 
       Green lines on the top row indicate a  rising PPI.   Red lines  on 
       the top row indicate  a falling  PPI.  Green  lines at  the bottom 
       indicate that the PPI  is positive  (above 0).   Red lines  at the 
       bottom indicate that the PPI is negative (below 0). The horizontal 
       blue line indicates a PPI of zero.

       The PPI is an oscillator that shows the difference  between short- 
       and intermediate-term price averages.  It indicates the direction, 
       or phase,  of the  prices of  the index  (the market's  movement).  
       When the  PPI changes  direction, it  is telling  you to  consider 
       taking action.

       The default number of time units used for the PPI are given below. 
       You  may  change  the  time  units  used  for  the short-term  and 
       intermediate term price averages by changing the OPTIONS.FIL  file 
       using any standard text editor. Be  sure to  save your  changes in 
       ASCII format.

        # time units                Data file name(s) affected
        ------------                --------------------------
          8 (short-term)            all files except DJIAHOUR.ASC
         60 (intermediate term)     all  files except DJIAHOUR.ASC
         31 (short term)            DJIAHOUR.ASC file only
        175 (intermediate term)     DJIAHOUR.ASC file only

       Fibo (Fibonacci retracements) -  After you have marked a high  (or 
       low) and a low (or high) on the graph by using the LEFT and  RIGHT 
       mouse  buttons,  select  this  option by  clicking the  LEFT mouse 
       button to display Fibonacci retracements of 23.6% and 76.4% (shown 
       in blue), 38.2% and 61.8% (shown  in green),  or 50%  retracements 
       (shown in red).

       Redraw - Select this  option to  redraw the  graph using  the same 
       time interval as previously selected (arithmetic price scale).

       OSC - Select and draw the x-day oscillator.   Input the  number of 
       days (x)  that you  want for  your oscillator  (I like  10 and  24 
       periods). The bright line is the oscillator value, the duller line 
       is the moving average of that oscillator, and the blue  horizontal 
       line represents a value of zero.

       Prt -  Select this option to print the  display to  your Epson  or 
       Epson-compatible  printer  (Registered  version  only, subject  to 
       change).

       Color -  Select this option to change the color of subsequent data 
       as it is drawn on the graph as  well as  keyboard entered  display 
       data.
       

       1MA -  Select this  option to  display a  moving average  of price 
       data.  After clicking on this option, enter your  value using  the 
       keyboard keys, then hit <ENTER>.  Change colors before  displaying 
       another moving average or you may get a  display that  is hard  to 
       read.  The graph at the bottom of the display shows the difference 
       between the current price and its designated moving  average.  The 
       horizontal blue line represents a value of zero.

       DTrnd -  Select this option to detrend the price data.   Input the 
       period  desired,  followed by  <ENTER>. The  horizontal blue  line 
       represents a value of zero.

       Draw X  - Click  on your  first data  point using  the left  mouse 
       button. Click  on your  second data  point using  the right  mouse 
       button.  To draw an extended line through both data points,  place 
       your cursor on this command box and click  the left  mouse button. 
       An extended line across the whole graph will be displayed.

       // - Select this option in order to draw a  parallel channel  line 
       to the line you drew using Draw X.  Click on this option  with the 
       LEFT mouse button, then place the mouse cursor  on the  data point 
       through which you want to draw a parallel channel line.  Click the 
       RIGHT mouse button in  order to  draw the  parallel channel  line. 
       Repeat as necessary.

       Da/Ix -  Select the  left half  of this  command box  in order  to 
       choose different start and end dates for the graphic display using 
       the same data file.  Select the right half of this command box  if 
       you want to view another data file.

       Qu - Select this option to exit the program.


       NOTE! NOTE! NOTE! NOTE! NOTE!  NOTE! NOTE! NOTE! NOTE! NOTE! NOTE!
       ------------------------------------------------------------------
       Now I know that you do not understand everything I have said and I 
       know some of the indicators seem like Greek.   But, it  is not  my 
       purpose to  teach you  technical analysis  and to  hold your  hand 
       while you learn about it. What I have given you is a tool to learn 
       and do technical analysis  by and  for yourself.   You don't  even 
       need to learn technical analysis if you will  study all  the price 
       data and look for patterns of  overbought/oversold, etc.   Use the 
       different  data  files  and  work with  the indicators,  using the 
       suggested periods I have given you, and learn and see for yourself 
       what indicators give what information and when. Relate it all back 
       to price and, voila, you should be able to make some money  in the 
       market by  stopping your  guessing about  the market's  direction.  
       Sure,  there  will be  times when  you are  unsure. I'm  unsure at 
       times, too.  At those times, wait until the indicators give  you a 
       clearer picture.
       


       If you have any  comments, questions  or suggestions,  I would  be 
       pleased to hear from you.  You may write or call me at:

                                  Allen Edwall
                            912 Ridge Square,  #218
                       Elk Grove, Illinois  U.S.A.  60007
                                 (708) 593-5327



                            Information on Licenses

                              Private Use License

       This  license  is  not   necessary  for   clubs  or   user  groups 
       distributing the software on a SHAREWARE basis, providing that the 
       entire  CHARTS  package with  accompanying documentation  and data 
       files are included in the distribution, and no more than a nominal 
       fee (not to exceed $5.00) is charged for such distribution.



                            REGISTRATION INFORMATION
          ____________________________________________________________
         |                                                            |
         | If you find CHARTS.EXE fast, easy, and convenient to use,  |
         | a registration fee of $50 would be appreciated.            |
         |                                                            |
         | Please state the current version number of the software    |
         | you are presently using and fill out the order form.       |
         |____________________________________________________________|

       The  registered  version  of  CHARTS.EXE includes  lots more  data 
       files, the ability to print to Epson compatible  printers, and  an 
       information  file  which  explains   more  about   the  indicators 
       mentioned above along with tips on how to apply them.

       Some  of  the  additional  data files  included in  the registered 
       version are:

       Microsoft - 03/13/86 to present      Novell  - 08/17/88 to present
       OEX       - 09/25/85 to present      S&P 500 - 11/01/89 to present
       Japan Idx - 09/20/90 to present      VLA     - 12/10/85 to present
       OTC       - 01/04/82 to present      VLG     - 01/02/85 to present
       XMI       - 06/07/90 to present      DJTA    - 02/08/90 to present

       plus various weekly and monthly data for the OEX, DJIA, DJTA, VLA, 
       and OTCI.
       



                                SOFTWARE LICENSE

                                   CHARTS.EXE
               Copyright 1992, Allen Edwall,  All Rights Reserved

       You  are  free to  use, copy  and distribute  CHARTS.EXE for  NON- 
       COMMERCIAL use if:

            1).  No fee is charged for use, copying or distribution.
            2).  It is not modified in any way.



                                  Legal Stuff

       I, Allen Edwall, hereby disclaim all  warranties relating  to this 
       software,   whether   express  or   implied,  including,   without 
       limitation, any implied warranties  of merchantability  or fitness 
       for a particular purpose. I will  not be  liable for  any special, 
       incidental, consequential, indirect or similar damages due to loss 
       of data  or any  other reason,  even if  my agent  or I  have been 
       advised of the possibility of such damages.  In no event  shall my 
       liability  for  any damages  ever exceed  the price  paid for  the 
       license to use this software, regardless of the form of the claim.  
       The person using the software bears all risk as to the quality and 
       performance of the software.


       Hypothetical  or  simulated  performance   results  have   certain 
       inherent  limitations.   Unlike  an  actual  performance   record, 
       simulated results do not represent actual trading. Also, since the 
       trades have not actually been executed, the results may have under 
       or  over-compensated  for the  impact, if  any, of  certain market 
       factors, such as lack of liquidity. Simulated trading  programs in 
       general are also subject to the fact that  they are  designed with 
       the benefit of hindsight. No representation is being made that any 
       account will or is likely to  achieve profits  or loss  similar to 
       those shown, mentioned or discussed.

       In options trading or in any stock market trading, there can be no 
       assurance  of  profit.   Losses  can and  do occur.   As with  any 
       investment,  you  should  carefully  consider your  suitability to 
       trade options or stocks  and your  ability to  bear the  financial 
       risk of losing your  entire investment.   Do not  assume that  the 
       theories,  methods   or  indicators   presented  herein   will  be 
       profitable or that they will not result in losses.

       The information contained herein  has been  obtained from  sources 
       believed to be reliable, but cannot be guaranteed  as to  accuracy 
       or completeness, and is subject to change without notice. The risk 
       of using any trading method rests with the user.
       
