Advanced GET - Reference Guide for Indicators (M - Z)
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General Description
The MOB is a proprietary study developed by Tom Joseph. The MOB (Make Or Break) study is an excellent tool that can help you find the target price area for the end of an Elliott Wave 5, or for any pattern that has an impulse-correction-impulse pattern.
Recommended Usage
The MOB should be drawn from the top (market moving up) or bottom (market moving down) of the starting impulse pattern that is closest to the current market movement. For example, if the market is moving in a 5 Wave sequence up and you want to see the MOB level for the Wave 5, move the MOB cursor to the top of the Wave 3 and click your left mouse button. The Wave 3 high is the top of the starting impulse pattern. The Wave 4 is the bottom of the corrective pattern. The Wave 5 is the area that the MOB will show a support area that will either "Make" the end of Wave 5 or will "Break" the Wave 5 into an extension. The MOB is not limited to a 3 4 5 pattern; it works with any down-up-down or up-down-up pattern. The different colors of the MOB give you a visual indication of the range of the MOB area, and if you see a "Marker" on the MOB (looks like a block on the left side of the MOB in a different color) then you know that the MOB doesn't have enough data to confirm the MOB level. If you get a "Marker" on the MOB, it is a good idea to keep deleting and redrawing the MOB as each new data bar is put on the chart until the "Marker" goes away.
Menu Functions
The Zone Colors selection list allows you to change the color of each of the MOB zones, as well as the Marker color.
If you have drawn a MOB on the chart, and you wish to remove it, put your cursor on top of the MOB and press your left mouse button. This will open the MOB property sheet. Press the Remove button and the MOB will be removed from the chart.
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General Description
A Moving Average is the average price of an issue over a specified period of time. For a five period average, you would take the sum value (often the closing price of the bar) over five days, compute the sum, and divide by five. It helps you see when an old trend has reversed and a new trend has begun.
Recommended Usage
A crossover of a Moving Average and the closing prices of the bars on the chart is usually taken as an entry or exit signal. The longer the length of the Moving Average, the slower it reacts to the market and, conversely, the shorter the Moving Average, the more sensitive the moving average will be to price changes.
Menu Functions
The Moving Averages dialog box lists the Moving Averages that have been added to the bar chart.
The check box to the left of each Moving Average indicates if that Moving Average will be displayed on the chart.
To change any of the settings of a Moving Average, highlight the Moving Average and press the Edit button. This will open the Edit Moving Average dialog box where you can change any of the parameters of the Moving Average. You can also edit the settings of a Moving Average by highlighting the band and then double clicking with your left mouse button.
To remove a Moving Average from the Moving Averages menu, highlight the Moving Average you want to remove and press the Delete button.
Press the New button to put another Moving Average on the chart. When you press the Add button, the Edit Moving Average dialog box will open so that you may adjust the settings of the new Moving Average.
Back to TopParabolic SAR
General Description
Parabolic SAR is a display of "Stop And Reverse" points for a particular market. When the market touches or crosses a point, this indicates that you should reverse your position. If you are long, for example, go short. If you are short, go long. The Parabolic SAR assumes that you are always in the market.
Recommended Usage
When the Stop is triggered it was originally intended to be an automatic reverse trade. However, the Parabolic SAR is a trend following system and in a sideways moving market the whipsaws can be costly. To help weed out the signals in a sideways moving market, you can use the Parabolic SAR signals in combination with the ADX, so that only Parabolic SAR signals in the direction of the trend should be taken to open positions. If you are using the Parabolic SAR in this manner, then the close of positions by the Parabolic SAR are not to be taken as entry of reverse trades.
Menu Functions
Acceleration Start: number box contains the number of the initial acceleration.
Acceleration Increment: number box contains the number that determines how much to increase acceleration over time.
Acceleration Maximum: number box contains the maximum amount of acceleration that can be achieved.
The Optimize button instructs GET to find the best acceleration values for the issue you are looking at. It does this by looping through thousands of combinations of variables until it finds the best set of variables that provide the most profit if you stop and reverse at every indicated point.
The Fine Tune button is similar in function to the Optimize button, except it takes the current values for the acceleration and makes more minute adjustments to the variables to find the best profit.
The Attributes Color: selection list allows you to select the color in which the Parabolic SAR will be drawn on the chart.
The Attributes Thickness: number box allows you to increase or decrease the thickness of the lines that are used to draw the Parabolic SAR. The lines get thinner as they approach the value of 1 and thicker as they approach the value of 5.
Back to TopGeneral Description
Pivots are a proprietary indicator that show the trend turning points of the issue's price performance. These Pivot points are labeled as Primary (P), Major (J), Intermediate (I), or Minor (M), depending on how long the issue maintains a particular price movement. Pivots are useful as starting or ending points when drawing Auto Gann Angles, Gann Boxes, Regression Trend Channels, Fibonacci Time, and other studies and tools.
When looking at a bar chart with Pivots displayed, you will notice that some of the Pivots are labeled in a different color than the majority of the Pivots. These are Smart Pivots. GET attempts to label these projected Pivot points as accurately as possible, but does not guarantee that they will not change. Any Pivot that is labeled in red (the default Smart Pivot color) will most likely be a Pivot of that degree, but has met the conditions of a Pivot of at least the next lesser degree. For example, if you see a Primary (P) pivot labeled as a Smart Pivot, it will most likely be a Primary (P) Pivot, but has met the conditions of a Major (J) Pivot.
Menu Functions
The Pivots Color selection list allows you to choose the color in which the Pivots will be drawn.
The Smart Pivots Color selection list allows you to choose the color in which the Smart Pivots will be drawn.
The Pivots Types check boxes indicate what degrees of pivots will be displayed on the chart.
Primary Pivots | = | P |
Major Pivots | = | J |
Intermediate Pivots | = | I |
Minor Pivots | = | M |
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General Description
Price Clusters show the areas where Fibonacci Extensions & Retracements tend to cluster in a given time period. The bars that are longer in length are the areas where the most activity was in terms of price. These bars are areas of support and resistance. The color difference does not indicate anything; it is only to make the visual differentiation easier.
Menu Functions
The Pivots Types check boxes indicate what degrees of Pivots will be used to calculate the Price Clusters.
The Number of Bars number box indicates the amount of bars the Price Clusters will use when calculating.
The Price number box indicates in what increments the prices will be divided to group the Retracement and Extension values.
The Color selection list allows you to change the color of the Price Clusters.
The Fibonacci section allows you select any combination of Retracements, Extensions, and Elliott Extensions. When the corresponding check box has been checked, each type of Fibonacci measurement will be used to calculate the Price Clusters.
The Direction check boxes indicate whether you want the Price Clusters to be calculated on Rallies, Declines, or both.
The On/Off buttons indicate if the corresponding ratio will be used in the calculation of the Price Clusters. To include/exclude a ratio from being used in the calculation, put your mouse cursor on the adjacent On/Off button and press your left mouse button.
The Ratio number boxes indicate the Fibonacci ratios used in the calculation of the Price Clusters.
The value in the Weight number box indicates the amount of importance the corresponding Fibonacci ratio will have. If the numbers in all of the Weight number boxes are equal, then each one of the Fibonacci ratios will have equal importance. For example, if one of the Fibonacci ratios has a weight of 100, and the remaining weights are all set at 50, then its importance will be twice as much during the calculation than those having the lesser weight of 50.
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General Description
The TJ’s Web is a proprietary study developed by Tom Joseph. TJ's Web is a display of resistance and support zones calculated using a proprietary Fibonacci formula. There are three areas displayed: Neutral Zone (NU, ND), Resistance Area (RA, RB, RC, RD), and Support Area (SA, SB, SC, SD).
Recommended Usage
TJ's Web is an excellent way to get the support and resistance areas for the trading range of the next day. As a general rule, the market pauses at each level, and if the market goes to Support Area A (SA) it will move to Resistance Area A (RA). The same is true for all of the Support and Resistance Area combinations.
Please note that TJ's Web is calculated using the range of the second to last bar on the current bar chart. For example, if you want to see the Web levels calculated using the daily values displayed on a 60 minute chart, you must first open a daily chart, apply the TJ's Webs, and switch the time frame on the chart to be a 60 minute chart. By doing this, the Web levels that were calculated using the second to last daily bar will be displayed on the 60 minute chart. If you simply put up a 60 minute chart and apply the TJ's Web levels, you will see the Web levels that were calculated using the second to last 60 minute bar.
Menu Functions
The Color selection list allows you to change the color of the TJ's Web.
The Mode selection list allows you to choose from 4 types of TJ's Webs. The Automatic setting allows GET to determine what separation factor to use to calculate the TJ's Web level. The Reduced setting is used when the market is expected to be trading in a smaller, tight range. The Normal setting is used when the market is expected to behave in an average trading range. The Extended setting is used when a large amount of volatility is expected for the next trading day. The Automatic setting is usually the best setting.
Back to TopGeneral Description
The Trade Profile is a proprietary study developed by Tom Joseph that can indicate areas of previous buying and selling.
Menu Functions
The Colors selection list allows you to select the color in which the Buy Zone and the Sell Zone will be drawn on the chart.
The Mult. Factor number box under Range Parameters indicates how many times the calculated Trade Profile range should be multiplied before it is displayed.
The Average Range number box under Range Parameters indicates the range used in the calculation of the Trade Profile.
The # of Profile Bars number box indicates the maximum number of Profile Bars to be displayed on the bar chart.
The Include Today check box, when checked, will include the latest data including any current market data prior to the close of the market on the current day.
Back to TopGeneral Description
The XTL (eXpert Trend Locator) is a proprietary study Tom Joseph developed that uses a statistical evaluation of the market that can tell the difference between random market swings (noise) and directed market swings (trends).
Recommended Usage
The XTL is a simple but powerful tool that is not complicated to use. If the bars are blue in color, then the trend is up. If the bars are red in color, then the trend is down. When you have a bar turn from its normal color to blue or black, this first signal is called a Break Out Bar. An entry is taken when the bar following the Break Out Bar is the same trend color as the Break Out Bar, and the range exceeds 150% of the Break Out Bar in the direction of the trend. You would place a stop below the low of the Break Out Bar if the trend is up, and you would place a stop above the high of the Break Out Bar if the trend is down. As the market moves in the direction of the trend, you would use a trailing stop to follow the trend. To find an exit, you can use a variety of exit methods, but we recommend using the Regression Trend Channels or an optimizedDMA. Please note that the XTL not a mechanical trading system. The XTL is one of the many studies (methods) available in GET.
Menu Functions
The Period number box is used to indicate the number of bars used to calculate the XTL.
General Description
The Relative Strength Index (RSI) is designed to indicate a market's current strength or weakness depending on where prices close during a given period. It is based on the premise that higher closes indicate strong markets and lower closes indicate weak markets. The RSI is displayed as three lines, the RSI and two moving averages of the RSI. The RSI is calculated by finding the percentage of positive closes (the current close is higher than the previous close) to negative closes (the current close is lower than the previous close).
Recommended Usage
Generally, a buy signal is generated when the RSI moves up through the lower band (band set to 30), and a sell signal is generated when the RSI moves down through the upper band (band set to 70). However, the buy and sell level will vary somewhat depending on the length you choose for the RSI calculation. A shorter length will result in the RSI being more volatile. A longer length results in a less volatile RSI, which reaches extremes far less often. Different issues will have slightly different levels at which the price changes direction. These levels are usually close to each other. The vast majority do seem to change direction at 30 and 70. It is important to note that this is not a hard and fast rule, and we recommend playing with the band levels until you find the best one for the issue you are looking at.The moving averages of the RSI can be used in the same method as a moving average on a chart.
Menu Functions
The RSI Length number box indicates the number of bars to use in the calculation of the RSI.
The Source selection list allows you to choose what prices are used in the calculation of the RSI.
Open | = | The RSI will be calculated using the open prices of the bars |
High | = | The RSI will be calculated using the highs of the bars |
Low | = | The RSI will be calculated using the lows of the bars |
Close | = | The RSI will be calculated using the closing prices of the bars |
(H+L)/2 | = | The RSI will be calculated by using the value derived from adding the highs with the lows and dividing by 2 |
(H+L+C)/3 | = | The RSI 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 RSI will be calculated by using the value derived from adding the opens with the highs with the lows and dividing by 4 |
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General Description
The Stochastic is designed to indicate when the market is overbought or oversold. It is based on the premise that when a market's price increases, the closing prices tend to move toward the daily highs and, conversely, when a market's price decreases, the closing prices move toward the daily lows. A Stochastic displays two lines, %K and %D. %K is calculated by finding the highest and lowest point in a trading period and then finding where the current close is in relation to that trading range. %K is then smoothed with a moving average. %D is a moving average of %K.
Recommended Usage
A sell signal is generated when you have a crossover of the %K and the %D when both are above the band set at 75. A buy signal is generated when you have a crossover of the %K and the %D when both are below the band set at 25. These signals are not valid if a False Bar appears above or below the crossover signal. The False Bar is a proprietary Stochastics cycle study that can help weed out many of the false Stochastics signals. If a False Bar appears over the Stochastics signal, you should just ignore the Stochastics signal as if it never existed.
An alternate, more aggressive method of using the Stochastics is by using a pyramid system of adding on positions during a strong trend. As a major trend continues, you could use all of the crossing of the %K and %D regardless of where the Stochastics lines cross. For example, if you follow this approach in an up trending market, you would take all the upturns by the Stochastics as additional buy signals (to pyramid your positions), regardless of whether %K or %D reached the oversold zone. The Stochastics sell signals would be ignored, except to take short-term profits. False Bar signals would be ignored. The reverse would be true in a down trending market.
Menu Functions
The Length number box indicates the number of bars used to find a moving average when calculating %K.
The %K number box indicates the period of the moving average that is used to smooth %K.
The %D number box contains the period of the moving average that is applied to %K to find %D.
The Bar Color selection list allows you to change the color of the False Bar.
The %K Color selection list allows you to change the color of the %K.
The %D Color selection list allows you to change the color of the %D.
The Upper and Lower Bands number boxes indicate at what level the bands will be drawn.
The Bands Color selection list allows you to change the color of the bands drawn on the Stochastics.
Back to TopGeneral Description
Time Clusters use the relationship of Pivot Points to the Fibonacci Time extensions. If you were to manually draw Fibonacci Time extensions from every Pivot Point combination on the chart, you would begin to see areas where there is clustering of various Fibonacci numbers. Time Clusters are a graphical representation of these areas.
Recommended Usage
Time Clusters give you an indication of where a potential change in trend may occur. The bigger the cluster, the greater the likelihood that a change in trend will happen that day. The highest point in a Time Cluster has the greatest probability that the corresponding time period will contain the bar that is the change in trend point. Time Clusters were not designed to be used alone; they should be used as a confirming indicator or as a gauge of when a change in trend will potentially happen.
Since Time Clusters are specific to each market, it is suggested that you optimize the Time Clusters using all of the bars contained in your data file.
Menu Functions
The Pivots Types check boxes indicate what degrees of pivots will be used to calculate the Time Clusters.
The Direction check boxes indicate what Pivot combinations you want to use for the Time Clusters calculation. For example, if you check High <-> High, then all of the Pivot Points that are on the top part of the bar chart (changes from an up trend to a downtrend) will be used as the points used for the Fibonacci Time extensions. If you check High <-> Low, then pivot points on both the top and the bottom part (changes in trend going both directions) of the bar chart will be used.
The Min Bars: number box indicates the minimum number of bars allowed between Pivot Points that will be considered as valid for the Time Clusters calculation.
The Max Bars: number box indicates the maximum number of bars allowed between Pivot Points that will be considered as valid for the Time Clusters calculation.
The Color selection list allows you to select the color of the Time Clusters.
The Optimize button is used to display the Time Clusters Optimize dialog box. From this dialog box you can choose from a selected list of prebuilt ratios, you can optimize the Time Clusters using a specific number of bars, or you can optimize the Time Clusters using all of the data located in your file.
The On/Off buttons indicate if the corresponding ratio will be used in the calculation of the Time Clusters. To include/exclude a ratio from being use in the calculation, put your mouse cursor on the adjacent On/Off button and press your left mouse button.
The Ratio number boxes indicate the Fibonacci time Ratios used in the calculation of the Time Clusters.
The value in the Weight number box indicates the amount of importance the corresponding Fibonacci Time Ratio will have. If the number in all of the Weight number boxes are equal, then each one of the Fibonacci Time Ratios will have equal importance. For example, if one of the Fibonacci Time Ratios has a weight of 100, and the remaining weights are all set at 50, then its importance will be twice as much during the calculation than those having the lesser weight of 50
Back to TopGeneral Description
The PTI Tool is used to manually draw a PTI (Profit Taking Index) and Wave 4 Channels in an area that is not identified as a Wave 4 by GET.
Recommended Usage
To get a PTI that is similar to a PTI automatically generated by Elliott Waves, you must move the PTI cursor to the point you believe is the end of Wave 2 and click your left mouse button. Next, move your mouse cursor to the point where you believe Wave 3 has ended and press your left mouse button for a second time. Lastly, move the PTI cursor to the last bar in what you believe is the Wave 4 and press your left mouse button for the third time to place the PTI and Wave 4 channels on the chart. Please note that the PTI value will not automatically adjust as new bars are placed on the chart - you must redraw the PTI as the Wave 4 progresses.
General Description
Time & Price Squares are used to show the relationship of time periods (X-Axis) versus prices (Y -Axis).
Recommend Usage
Time & Price Squares help to identify changes in a trend, such as those found at the end of an Elliott Wave Three, Four or Five, or in A-B-C corrections as well as intermediate and minor price swings. Time & Price Squares in Advanced GET are values determined by Gann (Time) & Fibonacci (Price).
The theory is markets tend to change trends at certain numbers from a Major high or low. As a general rule, use a primary pivot (a significant high or low point), as a starting point for your Time & Price Squares calculation. However, take the time to experiment with other pivots to see how this can enhance the use of this tool. Our studies have concluded that a combination of both Fibonacci and Gann can increase odds of picking up turning points. The time sequences have been tested out for all markets and time frames. In addition, our testing shows trading days to be more consistent than calendar days. This may be a different conclusion from standard belief; nevertheless this is our test result. (We have added the capability to use either calendar or trading days for this reason.) Unless you have a favorite sequence, we recommend experimenting with the following combination of numbers:Fibonacci numbers-- 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, and so on. We have found 72 works well (half of 144 = 72). In addition, you can multiple these numbers by 10 or 100 to get a sequence that looks like 130, 210, 340, 550, 720, 890, 1440, 2330, 3770, 6100, and so forth. Gann numbers-- 45, 90, 180, 270 and 360. Other good numbers are 23 (half of 45), 113 (90+23), 135 (90+45), 225 (180+45), and so on. You can us 720 (360 x 2), 1080 (360 x 3), 1440 (360 x 4), 1800 (360 x 5), and so forth. You can also multiply these numbers by 10 or 100 to get a sequence that looks like 450, 900, 1800, 2700, 3600, 7200, 10800, 18000, and so on.If you are having difficulty with the Time & Price Squares tool, edit the "Price Scale" to see if this helps. This selection is located in the properites of the Time & Price Square menu. (Highlight a T&PS line and click your right mouse button to activate this menu.) By adjusting the price scale often will help to generate better results. For example, with the Swiss Franc try changing the Price Scale to 0.0001, and for a normal stock try a 1.0 setting. Try experimenting using different price scale settings of 1.0, 0.1, 0.01, 0.001, 0.0001. The entire scheme of multiplying is really market dependent. For example, 90 (minimum ticks) is a good move from major lows or highs for the Swiss Franc but of course for the S&P it is not. Use appropriate Gann and Fib lines according to your scaling (to change values go into the Time & Price Squares properties box). Markets can also use the price sequence as support and resistance levels. When the market trades into both a time and price sequence, this is called a Time & Price Square area.
The truth is there is no easy way of learning the Time & Price Squares tool short of experimenting with it on your own so you can pick up ways of adapting the tool with your individual style of trading.
Menu Functions
Select the Time & Price Squares button to draw a graph of the intersection of prices you have set against the times you have set (periods), on your bar charts.
When the mouse cursor is inside a bar chart it will now look like a small arrow with the Time & Price Squares grid attached to it. Position the cursor at the bar that you wish to start on (usually a high or a low). Select with the LEFT MOUSE BUTTON. This will show a Time & Price Squares grid. As you move the mouse up and down, left and right, you will note that the periods or prices will show up only in the areas where the mouse has not been. To make the Time & Price Squares grid stay on the bar chart, Select again with the LEFT MOUSE BUTTON.
To abort the drawing of the Time & Price Squares grid, Cancel (with the RIGHT MOUSE BUTTON).
To adjust the time periods or the prices used in the Time & Price Squares grid, put your mouse on top of the Time & Price Squares button in the Global Tool Box and Call (RIGHT MOUSE BUTTON) the Time & Price Squares button.
NOTE: To see the Time & Price Squares that you have drawn, the Line button of the bar chart’s tool box must be on.
To change the Time open the adjust Time & Price dialog box and select the Time tab. Enter the number of periods you wish and select the OK button.
To change the Price open the adjust Time & Price dialog box and select the Price tab. Enter the number of increments you wish and select the OK button. Please note that the price increments are based on the base of the market you are looking at. For example, most stocks trade in 1/128ths. If you want the price to increase by 1 dollar, you would enter 128 in price. If you wish the price to increase by 5 dollars, enter 640 (5 x 128).
With the Calendar toggle box checked the Time & Price Square will use calendar days instead of trading days for the times you have indicated under the Times column.
The color button is used to display what color your Time & Price Square will be drawn in. To change this color, selectthe color button and you will be presented with a pallet of colors. select the color you want, and this change will be reflected on the color button.
Back to TopGeneral Description
The Move tool is used to move almost any item that has been drawn on the chart by any of the Drawing Tools. To move a line, move the Move cursor on top of the line you want moved and press your left mouse button. The line will be attached to the cursor, and can be placed on the chart by pressing your left mouse button.
Please note that you cannot move the Regression Trend Channels, Fibonacci Retracement, Fibonacci Extensions, Fibonancci Time, PTI, Ellipse, or the MOB.
Back to TopGeneral Description
Regression Trend Channels are calculated using the actual prices of the bars in the trend. A linear regression line is calculated, and then an upper and a lower channel are drawn using a standard deviation of the regression line or by using the highest high or the lowest low of the trend. The break of a Regression Trend Channel is usually used as an entry or exit signal.
Recommended Usage
To draw the Regression Trend Channels properly, you should choose the beginning of the immediate trend as the starting point of the Regression Trend Channels. You would move your cursor on top of this point and click your left mouse button once. This will begin the drawing of the Regression Trend Channels. You should then move the cursor to either the highest high (if in an upward trend) or to the lowest low (if in a downward trend) of the move and click your left mouse button again. This will anchor the Regression Trend Channels onto the bar chart. If a new high or a new low is achieved, you should remove the Regression Trend Channels and redraw them using the same starting point, but using the new high or low as the ending point.
Menu Functions
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 Regression Trend Channels to work correctly. Press your left mouse button on this button to turn the display of the Trend Line On or Off.
The Trend Line Source selection list allows you to choose what 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 H-L flip indicates that the Automatic Trend Channels should be calculated using the Low of the bars when the trend is up, and the High of the bars when the trend is down. |
The Trend Line Color selection list allows you to choose the color in which the Trend Line will be drawn.
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 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 Upper Channel Color selection list allows you to choose the color in which the Upper Channel line will be drawn.
The Lower Channel On/Off button indicates if the Lower Channel of the regression line will be displayed. Press your left mouse button on this button to turn the display of the Lower Channel On or Off.
The Lower Channel 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 Lower Channel Color selection list allows you to choose the color in which the Lower Channel line will be drawn.
The End Bar On/Off button indicates if a bar (the End Bar) will be drawn below the last price bar used in the Regression calculation. This is helpful if you are saving the Regression Trend Channels on a page and cannot remember what bar you used for the calculation; the End Bar is the last bar used in the Regression Trend Channel calculation.
The End Bar Color selection list allows you to choose the color in which the Lower Channel line will be drawn.
The Pearson's R On/Off button indicates if the Pearson's R value will be shown at the bottom of the Regression Trend Channels. As the Pearson's R value gets closer to the value of 1, this means the calculated trend 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 trend 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 bad.
Back to TopGeneral Description
The Text drawing tool is used to make notes on the bar chart. Text can either be displayed directly or be put on the chart in a minimized form as a Thumb Tack.
Recommended Usage
When you have typed your message and pressed the OK button, the text will be attached to your mouse cursor. Move the text to the area where you want it to be anchored and press your left mouse button. As long as the chart stays open, the text will appear on the chart. If you do not save the chart as a Page, the text will be lost when you close the chart.
Menu Functions
The Text area is where you type (using the computer keyboard) the message you want to appear on the bar chart or in the Thumb Tack.
When the Thumb Tack check box is checked, the text you type will not be displayed on the chart. Instead, a small icon that looks like a piece of paper with a Thumb Tack stuck to it will appear on the chart. When you want to read the message you placed as a Thumb Tack, put your mouse cursor on top of the Thumb Tack icon and press your right mouse button.
The Font button allows you to adjust the font used in the Text.
Back to TopGeneral Description
This Drawing Tool is used to focus on a specific part of a Bar Chart. Move the Zoom cursor to the start of the area you want to focus on and press your left mouse button. Move the cursor to the right and you will notice a light box being drawn on the chart. This is the area that will be "Zoomed". Move your mouse to the end of the area you want to focus on and press your left mouse button a second time. The chart will reflect the area that you marked. To "un-Zoom" the chart, press the Reset button on the Toolbar.