|
|
Charting Tools
Let's Get Technical
Day Calculator Tool
The Day Offset 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
high or lower in comparison with the previous day. Select the Day Offset
tool from your Advanced Charting toolbar. Click where you would like to
start and drag the horizonal line to where you would like it to end.
Release the mouse button to place.
|
Calculating
Trading vs. Actual Days
I n
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, or trading, days on a chart, use the Day
Offset Tool.
Days "Higher" and "Lower"
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. |
Resizing the Day Offset
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.
Moving the Day Offset
Select the drawing by clicking on it. Drag to the new location and
release the mouse button to place.
Deleting the Day Offset
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.
Preferences
Select the drawing by clicking on it. The properties will appear in the
preferences section of your control panel.
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.
 |
Day Offset Tool: You can choose the color, line style,
and line thickness of your line.
Font: Select the font, size, and color of the text.
Select Show Text to hide or show your text on the chart.
Select Snap to have your lines snap to price bars when
moved. |
Example of the Day Offset Tool
Next >>
|
