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Chart Tools

Charting Tools allow you to highlight sections of your chart with lines, shapes, and a variety of other functions.

All the charting tools that used to be found on the chart toolbar, have now been placed on their own toolbar for easy access.  But they're still accessible from the Chart toolbar, and also from the "context menu" when you right-click on a chart.

Most of the old tools are still there, though some may have changed slightly, and new tools are detailed below.

Selector Selector is used to highlight other tools on your chart so that you can modify or move them.

If you're looking for the old "None" tool, we've combined the old None and Selector tools into a single, "not-using-any-other-tool" tool.
     
Eraser Eraser can be used to remove individual items from a chart, just click, click, click, and they're gone.  Don't forget to turn it off again, or you'll be randomly deleting things.
     
Sponge Sponge can be used to delete several tools at once, just sweep it around to wipe away those pesky tools.
     
Clone Clone is very useful for building trend channels from your trend lines, or simply duplicating any tool already on your chart.
Select the clone tool, highlight the item to be cloned, and then click and drag to create a copy of the item
     
Trend Line Trend line, as the name suggests, allows you to draw a line along a price trend.  As with all line type tools, you click where you want the start of the line, drag to where you want it to end, and release the mouse button.  Use the selector tool to nudge the line perfectly into place.  Combine the trend line with the clone tool to create a trend channel.
     
Half Ray Half rays let you draw a line from a fixed point that will continue indefinitely in one direction, at any angle.
     
Full Ray Full rays work the same way as the half ray, but in both directions from the fixed starting point.  The full ray can be used in a manner similar to the infinite support/resistance line  to simulate an "infinite trend line".
Unlike the support/resistance lines, the full ray can be drawn on any angle.
     
Support/Resistance Line Basically, it's a horizontal line.  These are used to highlight support or resistance levels.  As with the Trend line, click-drag-release to draw the line, then use the Selector to nudge it into place.
     
Infinite Support Line Same as the Support/Resistance line, only there's no end.  It'll go from the start of the chart, and stick around as the new price data flows in.
     
Arrow Line Works like a trend line, but it's pointy on one end.  Unlike the trend line, it cannot be manipulated with the Extend/Compress/Cut tool.  As with other line tools, click-drag-release to draw the line, then use the Selector to nudge it into place.
     
Vertical Line The name says it all.  It's just like a horizontal line, only vertical.  The line will snap to the center of the candle, but like most of the tools, it is drawn behind the candle, so you will still see the "wick".
     
Extend/Compress/Cut Trend Line This tool allows you to extend or shorten your trend lines without having to move them or change their angle.
Simply click on the end of the trend line to extend it, then click again at the point where you want to cut it off.
     


Gann Ray

Gann Fan

Gann Price/Time
An in-depth discussion of the functions of these tools is beyond the scope of this document.

They are all, however, well established, well documented charting tools, so Google is your friend.

You might also try www.investopedia.com for further information.
     





Fibonacci Time

Fibonacci Fan

Fibonacci Support Line

Fibonacci Arc

Fibonacci Price Extensions

Fibonacci Time Extensions
An in-depth discussion of the functions of these tools is beyond the scope of this document.

They are all, however, well established, well documented charting tools, so Google is your friend.

You might also try www.investopedia.com for further information.
     




Cycles

Speed Lines

Linear Regression

Linear Regression Bands

Andrews' Pitchfork
An in-depth discussion of the functions of these tools is beyond the scope of this document.

They are all, however, well established, well documented charting tools, so Google is your friend.

You might also try www.investopedia.com for further information.
 
 



Rectangle
Ellipse
Triangle
Arc
Shapes can be used to highlight sections of your chart.  You can define the border and fill colours of the shapes, and even make them transparent.
     
Text Write notes on your chart.  Be aware that you cannot edit the text later, you will have to delete the old note and create a new one.
     
Measure Measure will give you information on the range between two points on your chart.  Information includes:  number of bars in the range (X-axis), distance in value (Y-axis), high and low for the range, distance between high and low, difference between open and close, % move and absolute % move.

% move is measured from the open of the first candle in the range, to the close of the last candle in the range.

Absolute % move is measured from the actual point where you clicked, to the actual point where you released the mouse button.
     
Zoom Zoom is used to enlarge a section of your chart.  Click and drag the tool to select the section of chart you want to enlarge, and release the mouse button.
To zoom out again, right-click the chart, and select Zoom Out.  You can zoom in more than once, and each time you zoom out it will undo one zoom level, so if you zoom in three times, you can zoom out again three times.  Alternatively, you can right-click the chart and select Restore View to restore the normal zoom level.

CAUTION:  Do not click Restore to zoom out your chart.  Restore View will zoom the chart to normal, Restore will wipe everything off your chart.
     
Autosize Chart When Autosize Chart is ON, your charts will automatically resize themselves to fit any extra data that may need to be seen when you use one of the chart tools

When Autosize Chart is OFF, you can only see half of the lines and values. When Autosize Chart is on the chart automatically resizes itself allow all of the lines and values to be seen.
     
Tool Values Toggles the display of values for tools such as support lines, Fibonaccis, Ganns, etc.  TV has no effect on text, so text labels will remain even if TV is switched off.
     

Crosshair
Crosshair - Track Time
The new crosshair is either on or off, and has two modes - Normal and "Time Track".  Once turned on, the crosshair will remain on even when you are using other chart tools.
* Normal mode gives you a constant crosshair for your current chart.
* Time Track mode also tracks the current chart position on other open charts of different frequencies.

 

Gryphon Learning clients will find two other tool icons on the Chart Tools toolbar

= GL Breakout

= GL Stoploss

 

 

 

 

Related Topics:
Charts
Customising the Software