Line

A trend line is used to mark significant trends and developments on the chart.

You need two reference points to draw a trend line. The reference points are positioned at pivots, for example at two highs (uptrend) or two lows (downtrend).

Horizontal line

A horizontal line usually serves as support or resistance.

You only need one reference point to draw a horizontal line. The reference point is positioned at the price level where you want the line to appear.

Trend channel

A trend channel essentially consists of two parallel trend lines that surround the trending time series.

You need three reference points to draw a trend channel. The first two points define a normal trend line, while the third point defines the distance of the second line from the first trend line.

Rectangle

A rectangle can be used to highlight a section of a chart.

You need two reference points to draw a rectangle: The first point is positioned at the top-left corner of the rectangle, the second one at the bottom-right corner.

Circle

Circles can be used to mark significant areas on a chart.

You need two reference points to draw a circle: The first point is positioned at the midpoint of the circle, with the second one you choose its size.

Fibonacci Fan

A Fibonacci Fan starts with a trend line (base line) and creates support / resistance lines at the so-called Fibonacci levels of 38,2%, 50% and 61,8%.

You need two reference points to draw a Fibonacci Fan. The reference points define the base line of the fan and are positioned at recent consecutive pivots (for example, a high and the following low). The vertical distance between the two reference points is divided into the Fibonacci levels. The fan lines are drawn from the starting point through the Fibonacci levels.

Fibonacci Vertical Retracements

Fibonacci Vertical Retracements are used to project a certain base period of time into the future. By this, you can try to interpret the price development of a symbol based on time intervals to predict when for example the next significant move will take place.

You need two reference points to draw Fibonacci Vertical Retracements. The two points define the first (base) interval. All other intervals are then calculated based on this reference interval, using the Fibonacci sequence (1, 1, 2, 3, 5, 8, 13, 21, 34… times the base interval). This means that the first two intervals will have the same size, the third interval will be double size, the fourth interval three times as big, etc.

Fibonacci Retracements

Fibonacci Retracements start with a trend line (base line) and divide it into the so-called Fibonacci levels. The horizontal lines at those levels are believed to provide support / resistance when the price moves into the opposite direction of the current trend (retracements).

You need two reference points to draw Fibonacci Retracements. The reference points define the base line and are positioned at recent consecutive pivots (for example, a high and the following low). The vertical distance between the two reference points is divided into the Fibonacci levels.

Fibonacci Arcs

With Fibonacci Arcs, you can try to identify support and resistance levels at the so-called Fibonacci levels of 38,2%, 50% and 61,8%.

You need two reference points to draw Fibonacci Arcs. The reference points define the base line and are positioned at recent consecutive pivots (for example, a high and the following low). The vertical distance between the two reference points is divided into the Fibonacci levels. The arc lines are then drawn from the second point with the radii of the resulting distances.

Andrews Pitchfork

The Andrews Pitchfork (also called Median Lines) can be used to draw a channel of support and resistance lines, along with a middle line.

The pitchfork needs three reference points that are drawn from a sequence of three consecutive pivots (for example, Low – High – Low or High – Low – High). The first reference point is set at the latest pivot, the second reference point at the preceding pivot, and the third reference point at the pivot before that. Thus, you draw the pitchfork starting from the present and going into the past.

The median line of the pitchfork is drawn from the third reference point; the outer lines of the pitchfork start at the first two points and run parallel to the median line. Those lines are believed to act as support and resistance for the following price movements.

Standard Deviation Channel

A Standard Deviation Channel consists of a middle line that shows the linear regression trend between two reference points, and two channel lines that are drawn at the distance of one standard deviation away from the linear regression trend line. The channel borders serve as support / resistance lines.

You need two reference points to draw a Standard Deviation Channel. The reference points define the period of time for which the linear regression trend is shown on the chart. The standard deviation channel lines are added automatically.

Arrow Up

Arrow Down

With the arrow tools, you can draw two types of arrows on a chart, pointing up or down.

You only need one reference point to draw an arrow. The reference point is placed at the position where you want the arrow to appear.

Text

With the text tool, you can label other objects on the chart, add descriptions etc.

To add text, just click on the chart at the position where you want the text to appear. Then, type your text into the box and choose the desired text style and color.

You can later edit the text by clicking on it. You can also delete it by using the Delete link in the Add Text dialog.