Advanced GET Studies - GET Auto Trend Channels
Overview
GET Auto Trend Channels are Regression Trend Channels that are automatically drawn by GET based upon the degree of Pivots and the trend direction. The break of an Auto Trend Channel is usually used as an entry or exit signal. Please note that you must purchase Advanced GET to access this study.
How do I apply the GET Auto Trend Channels study?
To apply this study, left-click on the GET icon and select GET Auto Trend Channels from the dropdown menu:
To apply this study, left-click on the GET icon and select GET Auto Trend Channels from the dropdown menu:
Alternatively, you can also right-click on the chart, when the menu appears, left-click on Insert Study, left-click on the Advanced GET tab and then select GET Auto Trend Channels.
The GET Auto Gann study will then appear on the price pane of the chart.
Properties
To edit the GET Auto Trend Channels study parameters, either right-click on the chart and select Edit Chart or right-click on any of the lines of the study and select Edit.
The Upper Channel On/Off button indicates if the Upper Channel of the regression line will be displayed. Press your left mouse button on this button to turn the display of the Upper Channel On or Off.
The Upper Channel Color selection list allows you to choose the color in which the Upper Channel line will be drawn.
The Std. Devs. check box indicates if the standard deviation of the regression line should or should not be used for the Upper Channel. When this box is checked, the Upper Channel will use the standard deviation indicated in the number box directly below it. If the Std. Devs. check box is not checked, the Upper Channel will be drawn using the highest or lowest bars in the trend encompassed by the channels.
The Trend Line On/Off button indicates if the Trend Line will be displayed. The Trend Line Does Not have to be displayed for the Automatic Trend Channels to work correctly. Left click this icon to turn the display of the Trend Line On or Off.
The Trend Line Color setting allows you to choose the color in which the Trend Line will be drawn.
The Lower Channel On/Off button indicates if the Lower Channel of the regression line will be displayed. Left click this icon to turn the display of the Lower Channel On or Off. The Lower Channel Color selection list allows you to choose the color in which the Lower Channel line will be drawn.
The Std. Devs. check box indicates if the standard deviation of the regression line should or should not be used for the Lower Channel. When this box is checked, the Lower Channel will use the standard deviation indicated in the number box directly below it. If the Std. Devs. check box is not checked, the Lower Channel will be drawn using the highest or lowest bars in the trend encompassed by the channels.
The Price Source selection list allows you to choose which prices are used in the calculation of the Regression line:
Open: The regression line will be calculated using the open prices of the bars
High: The regression line will be calculated using the highs of the bars
Low: The regression line will be calculated using the lows of the bars
Close: The regression line will be calculated using the closing prices of the bars
(H+L)/2: The regression line will be calculated by using the value derived from adding the highs with the lows and dividing by 2
(H+L+C)/3: The regression line will be calculated by using the value derived from adding the highs with the lows with the close and dividing by 3
(O+H+L+C)/4: The regression line will be calculated by using the value derived from adding the opens with the highs with the lows and dividing by 4
H-L Flip: The Automatic Trend Channels will be calculated using the Low of the bars when the trend is up and the High of the bars when the trend is down
Open: The regression line will be calculated using the open prices of the bars
High: The regression line will be calculated using the highs of the bars
Low: The regression line will be calculated using the lows of the bars
Close: The regression line will be calculated using the closing prices of the bars
(H+L)/2: The regression line will be calculated by using the value derived from adding the highs with the lows and dividing by 2
(H+L+C)/3: The regression line will be calculated by using the value derived from adding the highs with the lows with the close and dividing by 3
(O+H+L+C)/4: The regression line will be calculated by using the value derived from adding the opens with the highs with the lows and dividing by 4
H-L Flip: The Automatic Trend Channels will be calculated using the Low of the bars when the trend is up and the High of the bars when the trend is down
Show Pearson's R On/Off button indicates if the Pearson's R value will be shown at the bottom of the Automatic Trend Channels. As the Pearson's R value gets closer to the value of 1, this means the calculated regression line is matching the actual value of the data. This means that the regression line is "fitting" the trend very well. As the Pearson's R value gets closer to the value of 0, the regression line does not match the value of the data. This means that the regression line does not "fit" the trend very well. Think of this value as a percentage -- A 90 percent match is very good, while a 6 percent match is very poor.
The Minimum Pivot selection list allows you to choose the degree of Pivots you wish the Automatic Trend Channels to use as the starting point of the Trend Channel. If Primary is highlighted, the Automatic Trend Channels will only use the Primary Pivot points as starting points for the channels and will not change until a new Primary Pivot point is in place.
Alerts
Select the Alerts tab to set an alert for when prices cross the Upper, Trend, or Lower lines
Alert Area: Select the minimum of number ticks that price has to be within the range of a study line or set it "0" if the price must cross the study line to trigger an alert.
Auto Reactivate: When checked, the alert will reactivate so it can be triggered again.
Once per Bar: When checked, the alert will not trigger again until the price bar forms.
Alert Action: When an alert is triggered you can choose the method for how you wish to be alerted. Settings include a pop up alert, an audio alert (custom wav file can be set), and if configured, an e-mail alert message.