Pointer Tool: Default tool used for selecting tools and features in the software.
Hand Tool: Scrolling tool used in chart window. Click and drag a chart to scroll.
Crosshair Tool: Used to draw a line vertically and horizontally on a chart.
Line Tool: Used to draw support and resistance lines.
Multi Line Tool: Used to draw an alternating support and resistance line.
Arc Tool: Used to illustrate a rounded top or bottom formation.
Bar Calculator Tool: Measures the number of trading days vs. actual days that are between two points.
123 Tool: Used to chart a 123 top or bottom formation.
Head & Shoulders Tool: Used to chart a Head & Shoulders top or bottom formation.
Dart Tool: Used to chart a Dart/Blip up or down formation.
Wedge Tool: Used to identify any type of wedge or triangle.
Trend Fan Tool: Used to identify a Trend Fan.
Trend Channel Tool: Used to identify an inclining or declining channel.
Raff Regression Channel Tool: Used to identify an inclining or declining channel based on a regression line.
Horizontal Channel Tool: Used to identify a horizontal channel.
N% Ruler Tool: Used to measure a retracement. The default is 50%.
Arrow Tool: Used to draw arrows to help point out areas of interest.
Text Tool: Used to type text.
Box Tool: Used to draw a box.
Circle Tool: Used to draw a circle.
Dollar Calculator Tool: Used to find the dollar value between two points on the chart.
Risk vs. Reward Tool: Used to find the difference between two points of the risk and reward zone.
Center Chart Tool: Used to center the chart at the latest bar within the margin arrows.
Place Order Tool: Another method of placing orders, this tool uses the Order Placement dialog.
Heikin-Ashi (HA): Toggle Heikin-Ashi on/off. More information about Heikin-Ashi is available here. [1]
The first tool in the Charting toolbar is the Crosshair tool. This tool is helpful when lining up your technical indicators and recurring price patterns. Click the Crosshair button and position the crosshair on your chart and click your mouse. The crosshair draws a line vertically and horizontally on the chart. To help place the crosshair line on a specific value, the cursor price is displayed on the horizontal line of the crosshair, and the date/time is shown on the vertical line.
To select the drawing, click on the center point of the crosshair and drag to the new location. Release your mouse button to place the crosshair. The tool is selected when a box appears at the center point.
There are two ways to delete the Crosshair tool. If your crosshair is selected (you’ve clicked on it and the box appears at the center point), you can press the Del (Delete) key on your keyboard. You can also place your mouse cursor over the crosshair and right-click. In the drop-down menu, select “Delete.”
If you only want to delete the horizontal or vertical line of the crosshair, select the crosshair by clicking on it and view the preferences in the control panel. Select or deselect “Show Horizontal (Vertical) Line.” A check will appear in front of the item when it is selected.
Select the crosshair by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn crosshair tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: You can choose the color, line style, and line thickness of your crosshair. Deselect Show Horizontal Line or Show Vertical Line to hide your lines.
3. Text: Select the font, size, and color of the text. You can also choose to bold or italicize your text. Select the checkbox next to Show Text to hide or show your text on the chart.
4. Snap: Allows the vertical line to snap to price bars when moved.
Extend: Extends your vertical line into all indicator windows you have open.
To draw a support or resistance line, also referred to as a trend, use the Line tool. Select the Line tool from your Charting toolbar. Click on your chart where you want the line to begin. Hold down the mouse button and move to the position you want your line to end. Release the mouse button to place the line on the chart.
Support and Resistance - Technical Analysis
Markets have a tendency to move in troughs and peaks or, more appropriately, "Support and Resistance."
Support
These Troughs are called support, indicating that support is level. This shows that buying interest is strong enough to overcome selling pressure. A decrease in price is reversed and prices rise once again. Typically, a support level is identified by a previous set of lows.
Resistance
Resistance is essentially the opposite of support. Resistance is defined as a horizontal ceiling where the pressure to sell is greater than the pressure to buy. An increase in price is reversed and prices revert downward. Typically, support can be located on a chart by a previous set of highs.
Select the line drawing by clicking on it. The line is selected when boxes appear at the ends of the line. Click on one of the boxes and drag it to the desired length. Release the mouse button to place the end point of the line.
Select the line drawing by clicking on it. Click on the line, not an end box, and drag the line to the new location. Release the mouse button to place.
Select the line drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the line drawing and select “Delete” from the drop-down menu.
Hold down Control (CTRL) on your keyboard while drawing the line tool to create a straight/flat line.
Select the line drawing by clicking on it. The properties will appear in the preferences section of your control panel. Alternatively, you can right-click on a drawn line tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Parallel Extensions: To add parallel lines above and below the line you drew, select from the drop-down menu how many lines you would like to add. Select the checkbox by Lock to have equal space between the lines, and unselect the box if you would like to move them independently.
4. Snap: Allows the line to snap to price bars when moved.
5. Linear Extensions: Extends the line tool to the end of the graph.
Some contracts will have a continuous line, or trend, of alternating support and resistance. To illustrate these multi-lines, select the Multi-Line tool from your Charting toolbar. Click on the chart where you want your line to start. Move your mouse to the next point on your multi-line and click to place. Repeat this until the last point. When placing the last point on the multi-line, right-click to finish.
Select the multi-line drawing by clicking on it. You will know the multi-line is selected when boxes appear at the ends of the multi-line. Click on a box and drag it to your desired length. Release the mouse button to place the multi-line drawing.
Select the multi-line drawing by clicking on it. Click on the multi-line, not a box, and drag it to the new location. Release the mouse button to place the drawing.
Select the multi-line drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the multi-line drawing and select “Delete” from the drop-down menu.
Select the line drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn muli line tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Text: Select the font, size, and color of the text. You can also choose to see numbers or letters. Select Text to hide or show your text on the chart. Select from options in the drop-down dialog box to determine how you prefer to display the labeling of each point of the Multi-Line Tool.
4. Show Arcs: Select to hide/show arcs on points of the multi-line. Snap: Allow the line to snap to price bars when moved. Always Show Lines: Select to keep lines on chart even when the multi-line is unselected.
To illustrate a Rounded top or bottom formation on your futures chart, select the Arc tool in your Advanced Charting toolbar. Move the mouse pointer to the point on the chart that will be the corner of your arc. Hold the mouse button and drag to your endpoint. Release the mouse button to place.
The Rounded Top & Bottom formation is a very gradual change in trend.
Rounded Top
The Rounded Top formation consists of a gradual change in trend from up to down.
Rounded Bottom
The Rounded Bottom formation consists of a gradual change in trend from down to up. This formation is the exact opposite of a Rounded Top Formation.
Double Top
This formation includes two distinct "tops" and anticipates a change in trend from up to down.
Double Bottom
This formation includes two distinct "bottoms" and anticipates a change in trend from down to up. This formation is the exact opposite of a Double Top.
Triple Top
This formation includes three distinct "tops" and anticipates a change in trend from up to down.
Triple Bottom
This formation includes three distinct "bottoms" and anticipates a change in trend from down to up. This formation is the exact opposite of a Triple Top.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the drawing by clicking on it. Drag to the new location and release the mouse button to place.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn arc tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Snap: Check to have arcs drawn to snap to price bars when moved.
The Bar Calculator Tool enables you to measure the number of trading days versus actual days that are between two points on the chart. Also calculated on this tool is the number of days that the market closed higher or lower in comparison with the previous day. Select the Bar Calculator Tool from your Advanced Charting toolbar. Click where you would like to start and drag the horizontal line to where you would like it to end. Release the mouse button to place.
In the futures industry trading, days are scheduled around holidays and weekends. When looking at a futures chart, it is difficult to determine how many actual days have passed while working a trade.
The number of trading days is also significant for traders using the number of trading days as a rule in conjunction with a formation. For example with the 123 Top or Bottom formation, many traders use the 10-20-50 rule. This rule defines a 123 if there are 10 trading days between the #1 and #2, and 10 days between the #2 and #3 points.
To calculate the actual(Calendar) days on a chart, use the Bar Calculator Tool.
Another statistic used alongside formations and other theories is the day higher and lower calculation. This calculation determines how many days, in a defined set of price bars, were "higher" or "lower." A day is considered a "Higher Day" if the close is higher than any previous close in the set of price bars selected. Conversely, a day is considered a "Lower Day" if the close is lower than any previous trading day in the defined set of price bars.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place the drawing.
Select the drawing by clicking on it. Drag to the new location and release the mouse button to place.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn bar calculator tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Font: Select the font, size, and color of the text. Select Show Text to hide or show your text on the chart.
4. Show Text / Snap: Select the checkbox next to Show Text to hide/show your text on the chart. Check Snap to have the Bar Calculator to snap to price bars when moved.
Use the 123 tool to chart both top and bottom formations. To draw a 123 formation, select the 123 tool from your Charting toolbar. Position the mouse pointer over the spot you would like to place the 1 point and click to place. Move to the 2 point and click to place. Move to the 3 point and click to place.
The 123 formation anticipates a change in trend. There are both top and bottom formations.
123 Top Formation
The 123 top formation anticipates a change in trend, from up to down, on a break below the number two point. This formation is easily identified because the number 1 point is the annual price high for the contract.
To trade a 123 top formation, place a sell order on a breakdown past the 2 point. Then place a stop loss order just above the 1 point (an industry standard) or just above the 3 point (a more conservative stop loss placement).
123 Bottom Formation
The 123 bottom formation anticipates a change in trend from down to up on a break above the number 2 point. A 123 bottom formation is easily identified because the number 1 point is the annual price low.
To trade a 123 bottom formation, place a buy order just above the 2 point. Then place a stop loss order just below the 1 point (an industry standard) or just below the 3 point (a more conservative placement).
Select the 123 drawing by clicking on it. You will know the 123 drawing is selected when boxes appear on the corners. Click on a box and drag it to your desired length. Release the mouse button to place.
Select the 123 drawing by clicking on it. The drawing is selected when boxes appear at the 1, 2, and 3 endpoints. Drag to the new location and release the mouse button to place.
Select the 123 drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the 123 drawing and select “Delete” from the drop-down menu.
Select the 123 tool by clicking on it. The properties will show up in the preferences section of your control panel. Or you can right-click on a drawn 123 tool and select Properties.
Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
Line: From here you can choose the color, line style, and line thickness.
Font: Select the font, size, and color of the text. You can also choose to see numbers or letters. Select Text to hide or show your text on the chart.
Line Label (123): Select from different options how to label your 123 lines.
Text / Show Arcs / Snap / Always Show Lines: Select these options to display the 1-2-3 tool the way that you prefer. You can choose to hide or show Text, Arcs, Prediction, and Line. You can also choose whether or not you would like the 1-2-3 Tool to snap to price bars.
Show Change Calculation: Select to display the dollar value, percent return on margin, or tics/pips value between price points 1-2 and 2-3.
Quantity: Determines the trading quantity used to calculate the $ Value, %ROM, and Tics/Pips value for Change Calculation.
Text Color: Choose the color of your Change Calculation text.
1 - 2 / A - B: Check to label distances between points 1-2.
Fibonacci: Will label Fibonacci percentage distances between points 1-2.
User Defined: Select to enter custom percentage distance markers.
Labels: Choose how you would like these values displayed within your chart. None will remove text descriptions, leaving only the line markers. Price will display the market price for each percentage value. Both will display both percent and market price. Reverse changes the labeling from ascending to descending.
2 - 3 / B - C: Activate to label percentage points on line 2-3.
123 / ABC Retracement: Activate to display the percent that line 2-3 retraced back through line 1-2.
3 - 4 / C - D: Creates the 123 projection line, with a 127% distance label by default. Check Fibonacci to display the default Fibonacci distance labels.
Projections: Activate to extend the 3-4 line beyond the default 127% distance.
To identify an H&S top or bottom formation, use the Head & Shoulder tool. Select the Head & Shoulders tool from your Charting toolbar. Position the mouse pointer where you would like to place the Left Shoulder (LS) point and click to place. Move to the valley point between the LS and the Head (H) and click to place. Move to the H point and click to place. Move to the valley point between the Head and Right Shoulder (RS) and click to place. Move to the RS point and click to place.
This formation can appear anywhere in the chart and is made up of the Head, Left Shoulder, and Right Shoulder. There are both top and bottom formations.
Head & Shoulders Top Formation
In this formation, the middle peak, the Head (H), is higher than either shoulder (LS, RS). This formation anticipates a drop in price below the Neckline (shown by the red arrow).
To trade a Head & Shoulders top formation, place a sell order on the break of the Neckline. Your stop loss order should then be placed just above the Head. The stop-loss order can also be placed above the Right Shoulder as a more conservative point.
Head & Shoulders Bottom Formation
This formation is an inverted version of the Head & Shoulders top formation. A Head & Shoulders bottom anticipates a rise in price above the Neckline.
To trade a Head & Shoulders bottom formation, place a buy order on the breakup from the Neckline. Then place a stop loss order just below the Head. The stop-loss order can also be placed below the Right Shoulder as a more conservative point.
Select the H&S drawing by clicking on it. You will know the drawing is selected when boxes appear on the corners. Click on a box and drag it to your desired length. Release the mouse button to place.
Select the H&S drawing by clicking on it. The tool is selected when boxes appear at the LS, H, and RS endpoints. Drag to the new location and release the mouse button to place.
Select the H&S drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the drop-down menu.
Select the H&S drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn Head & Shoulders tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Text: Select the font, size, and color of the text. Select Show Text to hide or show your text on the chart.
4. Show Arcs: Select to hide/show arcs on points of the H&S drawing. Snap: Allows the H&S drawing to snap to price bars when moved. Always Show Lines: Select to keep lines the H&S drawings displayed always.
To chart a Dart Up or Down formation, select the Dart/Blip tool from your Advanced Charting toolbar. Click your mouse on the Left Feather (LF). Move to the Tip of the dart and click your mouse again. Click on the Right Feather to finish your dart.
The Dart/Blip formation occurs when there is a dramatic price change which is followed by an equally dramatic price change.
Dart Up
This formation is a sudden dramatic price increase followed by an equally dramatic drop in price. A dart formation can appear anywhere in a chart.
To trade a dart up, place a sell order on the breakdown of the Right Feather (RF) along with a stop loss order just above the Tip.
Dart Down
This formation is where a sudden dramatic price decrease occurs followed by an equally dramatic increase in price. A dart formation can appear anywhere in a chart
To trade a dart down, place a buy order on the break-up of the Right Feather, and place a stop loss order right below the Tip.
Trading on a Dart Formation is extremely risky.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place the Dart.
Select the drawing by clicking on it. Drag the dart to the new location and release the mouse button to place.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Alternatively, you can right-click on a drawn dart tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Fill: Select the color of your point triangles.
4. Always Show Lines: Select to keep dart/blip displayed always. Snap: Allows the dart/blip line to snap to price bars when moved.
Identify any type of wedge or triangle by selecting the Wedge tool from your Charting toolbar. Position the mouse pointer where you would like to place the top point of the triangle and click. Move to the bottom point of the triangle and click again. Position the mouse pointer where you would like to place the final point of the triangle and click to place it.
The wedge formation occurs when the slope of price bar highs and lows consolidate to a point. The triangle formation occurs when there is a pause in the current trend.
Inclining Wedge
The Inclining Wedge formation occurs when the slope of both lines is up with the lower line being steeper than the higher one.
To trade the Inclining Wedge, place a buy on a break-up and out of the wedge or a sell order on a breakdown and out of the wedge. Inclining Wedges with a prior downtrend are anticipated to break down and out, rather than up and out.
Declining Wedge
The Declining Wedge formation occurs when the slope of both lines is down, the top line being steeper then the lower one. This formation is opposite the Inclining Wedge.
Trade the Declining Wedge the same as the Inclining Wedge. Declining Wedges with a prior uptrend are anticipated to break up and out, rather than down and out.
Symmetrical Triangle
A Symmetrical Triangle is likely to resume the previous trend after the pause forming the triangle. Notice the price bars form a perfect symmetrical triangle shape.
To trade a Symmetrical Triangle, place a buy order on a break up and out of the triangle or a sell order on a break down and out of the triangle.
Non-Symmetrical Triangle
A Non-Symmetrical Triangle is exactly the same as the Symmetrical Triangle, except lacking symmetry. The formation resumes the previous trend when a break occurs.
Trade a Non-Symmetrical Triangle just as you would a Symmetrical Triangle.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the drawing by clicking on it. Drag to the new location and release the mouse button to place the drawing.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the dropdown menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right click on a drawn Wedge tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Background: Select the color you would like filled into the triangle or wedge.
4. Snap: Allows the drawing to snap to price bars when moved.
Identify a trend fan within a chart by selecting the Trend Fan tool from your Charting toolbar. Position the mouse pointer where you would like to place the main point of your trend fan. Move the mouse pointer to the end of the first line and click. Add as many lines to your trend fan as you would like. To place the last trend, position the mouse pointer at the end of the last line and right-click to place.
Trend Fans are an extension of the regular trend line. They accent simple trend line trading concepts by extending the single trend line to multiple fan lines that give a better look at a trend, its retracements, and market reversals.
Trend Fan
As a trend moves up in scale, a chartist will draw a line across price bar lows or, when a market is moving down, across the price bar highs.
As the market continues to make its retracement, we can draw another trend line across the next level of support or resistance. The line is a support if the market is moving up and resistance if it is moving down.
The last move of the trend was resistance for the first trend line and is now support for the second trend line. The third trend line shows that the market has made a solid retracement down past this third fan line.
When the market crosses the third fan line, it is considered to be confirmation of market retracement. A market that was once considered bullish is now bearish, or if bearish, would now be considered bullish. When the markets price bars cross above or below the third trend fan line, this is your signal and confirmation that the market has shifted from bullish to bearish, or bearish to bullish.
To trade a Trend Fan, place an order to enter the market on the breakout past the third Trend Fan line.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the ends of the lines. Click on a box and drag it to your desired location. Release the mouse button to place the drawing.
Select the drawing by clicking on it. Drag to the new location and release the mouse button to place the drawing.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the drawing and select “Delete” from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn trend fan tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Font: Select the font, size, and color of the text. Select Text to hide or show your text on the chart.
4. Snap & Extend: Select to have the drawing snap to price bars when moved. Select Extend for linear extensions to the edge of your chart.
5. Line Label: Select from different options for labeling your trend fan lines.
Identify an Inclining or Declining Channel by selecting the Trend Channel tool from your Charting toolbar. Position the mouse pointer where you would like to place the top-left point of the channel and click. Move to the bottom-left point and click again. Move to the bottom-right point and click again. Position the mouse pointer where you would like to place the top-right and final point of your channel and click to place the point.
A trend channel consists of a section of price bars that are between parallel support and resistance lines. There are three types of channels: the Narrow Sideways Channel, the Inclining Channel, and the Declining Channel.
Narrow Sideways Channel
A Narrow Sideways channel is a formation that features both resistance and support with a sideways movement. Support forms the low price bar, while resistance provides the price ceiling.
To trade a Narrow Sideways channel, place an order to buy on a break-up and out of the channel, or sell on a breakdown and out of the channel.
Inclining Channel
The Inclining channel is a formation with parallel price barriers along both the price ceiling and floor. Unlike the Narrow Sideways channel, the Inclining channel has an increase in both the price ceiling and price floor. The breaking of the bottom trend line on this formation shows a change in trend from bullish to bearish.
To trade an Inclining channel, place an order to sell on the breakdown and out of the channel.
Declining Channel
The Declining channel is the exact opposite of the Inclining channel formation. The Declining channel has a decrease in both the price ceiling and price floor. The breaking of the top trend line on this formation shows a change in trend from bearish to bullish.
To trade a Declining channel, place an order to buy on the break-up and out of the channel.
Select the channel by clicking on it. You will know the channel is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place the tool.
Select the channel by clicking on it. Drag to the new location and release the mouse button to place.
Select the channel by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select “Delete” from the drop-down menu.
Select the channel by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn Trend Channel tool and select Properties.
Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
Line: From here you can choose the color, line style, and line thickness.
Background: Select the color you would like filled into the triangle or wedge.
Snap: Allows the drawing to snap to price bars when moved.
The Raff Regression Channel was developed by Gilbert Raff. It features a linear regression line through the data with evenly spaced trend lines to create a trend channel.
Identify a Raff Regression Channel by selecting the Raff Regression Channel tool icon from your Charting toolbar. The tool Icon looks like 3 parallel lines rising with a R in the top left corner. Position the mouse pointer where you would like to start the channel and click. Move to where you would like to end the channel and click there.
Select the channel by clicking on it. You will know the channel is selected when boxes appear at the ends of the middle/regression line. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the channel by clicking on it. Drag to the new location and release the mouse button to place.
Select the channel by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select "Delete" from the dropdown menu.
Select the channel by clicking on it. The properties will appear in the preferences section of your control panel.
Restore Settings: These are buttons that show above the following image. TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
Lines: This tool is a channel with extension lines therefore there are settings for each line. However the line thickness and style is shared with the uper and lower lines
Line Extensions: There is a checkbox to enable line extensions and a spinner box to select the number of bars they are supposed to be extended beyond the edge of the tool. There options for the extension line coloring, thickness, and style.
Background: Here the background can be disabled and the color changed.
Calculation: There are two types of calculations for the tool. Normal option is to put the upper and lower channel line on the maximum point away from the linear regression line (middle line). 2 Std Deviation option is to put the upper and lower channel lines 2 standard deviations away from the linear regression line (middle line).
Illustrate a Horizontal channel in a chart by selecting the Horizontal Channel tool from your Charting toolbar. Position the mouse pointer where you would like to place the top-left point of the channel and click. Continue to hold down the mouse and drag it to the bottom-right point of your channel. Release the mouse button to place.
Select the Horizontal channel by clicking on it. You will know the channel is selected when boxes appear on the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the Horizontal channel by clicking on it. Drag to the new location and release the mouse button to place.
Select the Horizontal channel by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select “Delete” from the drop-down menu.
Select the Horizontal channel by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn horizontal channel tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Font: Select the font, size, and color of the text. You can also choose to see numbers or letters. Select Text to hide or show your text on the chart.
4. Snap: Allows the drawing to snap to price bars when moved.
You can measure a retracement by selecting the N% tool from your Charting toolbar. Position the mouse pointer where you would like to place the top-left point of the channel and click. Continue to hold down the mouse button and drag to the bottom-right point of the channel. Release the mouse button to place. The default on this charting tool is 50%. (For more information on retracements, see Fibonacci Time Zone and Fan tools in the Advanced Charting Tools section.)
Up Trend (Bull Market)
In the diagram to the left, the market is in an overall uptrend; however, within the uptrend are small areas where the market falls back, or "retraces," each time establishing a new higher high.
Down Trend (Bear Market)
This chart shows how the market made lower highs and lower lows, while still maintaining the overall downtrend. Each retracement was about 50% of the last move before they continued on in their original direction.
Markets have a tendency to retrace half of the last move in overall long-term trends.
Select the channel by clicking on it. You will know the channel is selected when boxes appear on the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the channel by clicking on it. Drag to the new location and release the mouse button to place.
Select the channel by clicking on it. Notice the box in the center of the middle line. Click and drag the box to move the line. As you change the position of the percentage line, the percentage value to the left will change as well.
Select the channel by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select “Delete” from the drop-down menu.
Select the channel by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn N% ruler tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness.
3. Font: Select the font, size, and color of the text. You can also choose to see numbers or letters. Select Text to hide or show your text on the chart.
4. Snap: Allows the drawing to snap to price bars when moved.
The Arrow tool enables you to draw arrows to help point out areas of interest on your chart. Position the mouse pointer where you want to place the point of the arrow and click the mouse button. Drag the mouse pointer to the location you would like to end the arrow. Release the mouse button to place.
Select the arrow drawing by clicking on it. The arrow is selected when boxes appear at the ends of the line. Click on one of the boxes and drag it to the desired length. Release the mouse button to place the end point of the line.
Select the arrow drawing by clicking on it. Click on the arrow, not an end box, and drag it to the new location. Release the mouse button to place.
Select the arrow drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the line drawing and select "Delete" from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn arrow tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: From here you can choose the color, line style, and line thickness of an arrow.
3. Arrow Fill: This option allows you to choose the fill color of the arrow point(s).
4. Arrow Point: This option allows you to choose which end you would like the arrow point to be placed. Choose from "on end one", "on end two", or "on both ends".
5. Snap: Select this option to place an arrow end directly on a price bar. You can snap to open, high, low, or close.
The Text tool enables you to type text on the Chart. Select the Text tool in the Notation toolbar. Click on the chart where you would like to place the upper left corner of the text box. Drag the text box to the lower right corner of your desired text box. Release the mouse button to place.
Once the box is drawn, the Text Tool Options window will open. Enter the text, set the font, size, position, color, and style of the text. Select a border and background if you would like. Click "OK" when finished and text will be placed on your chart.
Select the text box by clicking on it. Continue holding down the mouse button to drag text to the new location. Release the mouse button to place.
Select the text box by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the text box and select "Delete" from the drop-down menu.
Select the text box by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn text tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Text Tool: You can change the size, font, and color of the text.
3. Outline: Click on the down arrow to view a list of colors for the outline of the text box.
4. Alignment and Font Style: These buttons determine how you want your text to appear on the chart. You can align the text left, center, or right, and can also bold, italicize, underline, and strikethrough.
5. Custom Size: Select this check-box to manually adjust the size of the Text Tool window.
6. Text: Use the Text entry window to cut, copy, or paste information.
The Box tool enables you to draw square or rectangle shaped drawings on the chart. Select the Box tool in the Notation toolbar. Click where you would like to place the top-left corner of the box, hold down the mouse button and drag to the location of the bottom-right corner of the box. Release the mouse button to place.
Select the rectangle drawing by clicking on it. The drawing is selected when boxes appear at the corners of the graphic. Click on one of the boxes and drag it to the desired length. Release the mouse button to place.
Select the rectangle drawing by clicking on it. Click on the drawing, not an end box, and drag it to the new location. Release the mouse button to place.
Select the rectangle drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the line drawing and select "Delete" from the drop-down menu.
Select the drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn box tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: Choose the color, style, and thickness of the line surrounding the box.
3. Background: Change the fill color of the box.
4. Snap: Select this option to place a box corner directly on a price bar. You can snap to open, high, low, or close.
The Circle tool enables you to draw circle shaped drawings on the chart. Select the Circle tool in the Notation toolbar. Click on the chart where you would like the circle to start. Continue holding down the mouse button and drag the tool until it has formed a circle. Release the mouse button to place.
Select the circle drawing by clicking on it. The circle is selected when boxes appear at the corners of the graphic. Click on one of the boxes and drag it to the desired length. Release the mouse button to place.
Select the circle drawing by clicking on it. Click on the box, not an end box, and drag it to the new location. Release the mouse button to place.
Select the circle drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the line drawing and select "Delete" from the drop-down menu.
Select the circle drawing by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn circle tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: Choose the color, style, and thickness of the line surrounding the circle.
3. Background: Change the fill color of the circle.
4. Snap: Select this option to place the circle directly on a price bar. You can snap to open, high, low, or close.
Use the Dollar calculator to find the dollar value between two points on the chart. Select the Dollar calculator tool from your Calculators toolbar. Click on your chart where you want the calculator to start and drag to where you want the calculation to be completed. Release the mouse button to place. The dollar amount of the chart movement will be calculated from the beginning and end point values and will be displayed in the center of the line.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the drawing by clicking on it. Hold down the mouse button and drag to the new location. Release the mouse button to place.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select "Delete" from the drop-down menu.
Select the dollar calculator by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn dollar calculator tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: Choose the color, style, and thickness of the line.
3. Quantity: Shows the number of shares/contracts included in the calculator transaction. Select and type the desired quantity to change the value.
4. Font: From here you have the ability to change the size, font, and color of the text.
5. Show Text: Uncheck this box to hide the text.
6. Snap: Select this option to place the circle directly on a price bar. You can snap to open, high, low, or close.
7. Value / % Value / *Pips *fx only: In Track n’ Trade Live Forex you can choose to display the dollar calculator as a $ Value, % Value, or as Pips.
8. Details: This section gives you the price value of Point 1 and Point 2 on the Dollar Calculator. You can modify these values by highlighting and typing a new value.
The Risk/Reward calculator is used to find the difference between two points of the risk and reward zone. Select the Risk/Reward tool on your Calculators Toolbar. Click on your chart where you want your technical formation to begin and drag to cover the area between your initial order and your risking stop loss order.
The calculator will create an equal-sized reward area that can be stretched to the proper distance you expect the graph to retrace. The numbers in the tool indicate the dollar amount of risk and reward.
When the chart is trading within the risk area (negative number), you are risking your own money. When the chart is trading within the reward area (positive number), you are risking OPM or "Other People’s Money." Use the Risk/Reward calculator on all trades to calculate where your order entries and exits should be placed.
Select the drawing by clicking on it. You will know the drawing is selected when boxes appear at the corners. Click on a box and drag it to your desired location. Release the mouse button to place.
Select the drawing by clicking on it. Hold down the mouse button and drag to the new location. Release the mouse button to place.
Select the drawing by clicking on it. Press the Del (Delete) key on your keyboard. You can also right-click the channel and select "Delete" from the drop-down menu.
Select the risk vs. reward by clicking on it. The properties will appear in the preferences section of your control panel. Or you can right-click on a drawn risk vs. reward tool and select Properties.
1. Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.
2. Line: Choose the color, style, and thickness of the line.
3. Risk Color: Change the highlight color of the Risk text.
4. Reward Color: Change the highlight color of the Reward text.
5. Quantity: See Dollar Calculator Preference Tab.
6. Price/Point Difference: Either view the Point or Price difference of the risk and reward calculator.
7. Font: Change the size, font, and color of the text.
8. Show Text: Uncheck this box to hide the text.
9. Snap: Select this option to place the circle directly on a price bar. You can snap to open, high, low, or close.
10. Details: This section gives you the price value of Point 1 and Point 2 on the Risk/Reward Calculator.
The Order Placement Tool is used to place custom orders on the chart. The order is not placed until confirmed from the Order Placement dialog. Note: to denote the Order Placement tool is in effect the mouse's icon will change to an arrow.
This tool is also found in the Trade Tab above the order buttons for easy use.
Order Placement dialog
To bring up the Order Placement dialog first click on the chart approximately where you would like the order placed. At the top of the dialog it will reflect the Contract/Currency Pair along with the rate at which the order was initially placed.
1. Order Details: Choose whether the order will be a Buy/Sell, what quantity (Qty.), Order Type, and the Rate.
Buy/Sell: Choose the appropriate radio button.
Qty (Quantity): Either type in the quantity or use the up and down arrows.
Order Types:
MKT (Market Order): A market order does not specify a price; it is executed at the best possible price available. A market order can keep you from 'chasing' a market.
MIT (Market If Touched): Similar to a limit order, orders to buy are placed below the current price; orders to sell are placed above the current price. MIT orders fill once the limit price is touched or passed through. (Some exchanges do not allow MIT orders).
LMT (Limit Order): Limit Orders to buy are placed below the current price; limit orders to sell are placed above the current price. The market may touch a limit price several times, without filling. In most cases, the market must trade better than the limit for the order to fill.
STP (Stop Order): Place a buy stop order above the market price; place a sell stop order below the market price. A stop order becomes a Market Order when the specified price is reached.
Rate: When using a non-Market Order type, you can further adjust and edit your rate.
2. Trail: Make a Stop or Close Stop Order a trailing Stop or trailing Close Stop. Choose the trailing type in the drop-down menu and use the text box for the corresponding value of the trailing type.
% Open Profit: The stop order will trail the percentage specified times the profit of all open orders of the current symbol. In summary at (Percentage /100) * (Profit of Open Orders on this symbol). If the Open Orders Profit/Loss total is at a loss the stop will not trail.
$ Behind: The stop order will trail at the specified dollar amount.
# Price Bars: The stop order will trail at the highest high or lowest low within the specified amount of bars. A filter can be applied called Filter Lower, Highs / Higher, Lows. See below at number 4.
ATR Stop: The stop order will trail at the Average True Range Stop dots. Turn on the ATR Stop overlay to see where they are on the chart.
PSAR: The stop order will trail at the Parabolic Stop and Reverse dots. Turn on the Parabolic SAR overlay to see where they are on the chart.
Zig Zag: The stop order will trail at the Retracement Target. Turn on the Zig Zag overlay to see where it is on the chart.
BNB Blue Light: The stop order will trail at the Bulls n Bear Blue Light dots. Turn on the Bulls n Bears Blue Lights to see where it is on the chart. To do this go to the Preferences of Bulls n Bears and in the drop down under Blue Light choose Bullish/Bearish or Both.
Tics/Pips Behind: The stop order will trail at the specified number of tics/pips.
3. Trail Until Breakeven: This will enable your stop loss to trail until it reaches the price level of your entry order. Your stop order will then stop trailing and stay active at the break-even price level.
4. Filter Lower, Highs/Higher, Lows: This is a filter associated with the trailing Bars Back selection. This filter tells Track 'n Trade to only advance the trailing stop if the price bar makes a higher high on a long position or a lower low on a short position.
5. Limit and Stop (can be OCO): This will add a stop or limit at the number of tics/pips specified above or below the market (depends on the type of position). These will become a one cancels other (OCO) order when a stop and a limit are both selected.
6. Jump Stop: This will have the stop jump to a new tics/pips from breakeven (this can be negative to have it a certain tics/pips back from breakeven) after the market has moved favorably the specified tics/pips. This feature can be used when the order type at section 1 is a stop to make the first order to jump, or if using a stop in section 5 it makes that stop jump.
7. Trail Stop: This will enable the stop in section 5 to trail using the same features outlined in section 2.
8. Good 'til Cancel: This enables the order to be active until the user decides to cancel the order. If it is checked off the order will expire at the end of the trading day.
Links
[1] http://education.trackntrade.com/node/1775/