GOOGL And AMZN, Part 1

This study will be in two parts, Alphabet (GOOGL) and Amazon (AMZN).

This is a chart for GOOGL. (Alphabet). Here is how you read it:

The top chart is price action on a daily basis. Below the price action is the Ichimoku Cloud, which is green and rising (red would be negative). The two bottom charts are chop and chop zone. A chop zone with the color aqua measures up-trend. GOOGL has the aqua color.

The chop (second from bottom) measures the strength of the trend (up or down). The shaded area for chop is normalized (standard deviation). The solid line within "chop" indicates strength of trend. The lower this line gets the better (for an up-trend). As you can see, the chop line for GOOGL is below the shaded area. Because the chop zone color is aqua, the chop line tells me the up-trend is very strong for GOOGL.

You can also look at this chart over the past year and see when GOOGL was trending higher (by looking for the aqua color on the bottom chart). By looking at the "chop" line I can determine the strength (or quality) of the up-trend.

At this time, I would ask you to look at my published chart for Amazon.