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Charting Tools
Let's Get Technical
N% Tool
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 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.)
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50% Retracements - Technical Analysis
Markets move in waves called retracements. These waves have up
and down trends. |
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Up Trend
(Bull Market)
In the
diagram to the right, 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.
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Down
Trend (Bear Market)
This
chart shows how the market made lower highs and lower lows,
while still maintaining the overall down trend. 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. |
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Resizing the N% Channel
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.
Moving the N% Channel
Select the channel by clicking on it. Drag to the new location and
release the mouse button to place.
Moving the % Line in the N% Channel
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.
Deleting the N% Channel
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.
Preferences
Select the channel 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.
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N% Ruler Tool: You can choose the color, line style, and
line thickness of your lines, as well as the background color.
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 N% Tool
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