three point trend channel tool
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three point trend channel tool
N#$jatrader has a great tool: The three point trend channel. It is similar to the trend channel tool in MC except you draw three points and the corresponding parrallel trendline is automatically placed based on the third point. This is very hard to describe in words, but that trend channel is an excellent tool and would be a great addition to MC.
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Re: three point trend channel tool
***************************************************************N#$jatrader has a great tool: The three point trend channel. It is similar to the trend channel tool in MC except you draw three points and the corresponding parrallel trendline is automatically placed based on the third point. This is very hard to describe in words, but that trend channel is an excellent tool and would be a great addition to MC.
It would help if we could see the tool- maybe you could do a screen capture of the chart and post it here to clarify...
I use the MC tool- andrew's pitchfork and I'd like to see the one that you're talking about.
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Re: three point trend channel tool
I am not sure its appropriate to post another platform screenshot here.
Its kind of like a pfork except the pfork PICKS the angle for you. To replicate the n-tool in MC, you just draw an extended trend line from two points.
Then copy it and paste it to the corresponding pivots. So if in an uptrend, draw the trend line accross to low pivots and and then copy and attach to two high pivots creating a parallel channel. N%^$a does this already and adds a midline. Its basicly a pfork but allows you to set the angles.
There are other more powerful ways to use this tool. Right now i still rely on N$%$a for it but i am dying to migrate away from it now that MC has implemented the advanced scanner.
Its kind of like a pfork except the pfork PICKS the angle for you. To replicate the n-tool in MC, you just draw an extended trend line from two points.
Then copy it and paste it to the corresponding pivots. So if in an uptrend, draw the trend line accross to low pivots and and then copy and attach to two high pivots creating a parallel channel. N%^$a does this already and adds a midline. Its basicly a pfork but allows you to set the angles.
There are other more powerful ways to use this tool. Right now i still rely on N$%$a for it but i am dying to migrate away from it now that MC has implemented the advanced scanner.
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Re: three point trend channel tool
greenroomhoo, you may want to submit a feature request to the Project Management of our web site so other users can vote for it: https://www.multicharts.com/pm/
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Re: three point trend channel tool
I have a feature request that has been in for a while now that will take care of this and other tool based requests. It is to be able to create custom tools. It could be expanded to also modify existing tools as a starting point.
https://www.multicharts.com/pm/viewissu ... _no=MC-197
Please vote for it, as it is under review, but needs more support.
https://www.multicharts.com/pm/viewissu ... _no=MC-197
Please vote for it, as it is under review, but needs more support.