Horizontal Line

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A Horizontal Line is an analytical drawing tool used to indicate price levels as well as the support and resistance levels. However, you should apply other analysis techniques to confirm price breakouts and make more precise decisions.


Inserting Horizontal Line

  1. Select one of three ways to insert a Horizontal line:
    • In the menu select Insert, point to Drawing and click Horizontal Line.
    • Click the Horizontal Line Drawing HL.png icon on the Drawing toolbar.
    • Click the arrow next to the Drawing tools Show Hide Drawing Tools.png icon on the Main toolbar and select Horizontal Line from the menu.
  2. The cursor will change to the Horizontal line HL pointer.gif.
  3. In the Chart Area click where the Horizontal line to begin.
  4. Release the button.


Moving Horizontal Line

To move a Horizontal Line:

  1. Point the cursor at the Horizontal line that is to be moved.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Then keeping the left mouse button pressed drag the drawing tool to the desired position.
  4. Release the button.


Formatting Horizontal Line

In MultiCharts one can change the settings of the Horizontal line. All the changes are performed in the Format Horizontal Line window.

Each instance of a Horizontal line has its own Format window. The number (if there are 2 or more Horizontal lines in the same Chart Window) are shown in the titlebar of each Format Horizontal Line window.

One can change the settings of the Horizontal line: its color, style and weight. One can also choose to show or not the labels, select their font, style, size and the character set. It is possible to apply the strikeout or underline effects to the labels. If shown the labels can be displayed to the left, to the right, or in the middle of the Horizontal line. It is also possible to change the price coordinate of the Horizontal line.


Setting Style

  1. Access the Format Horizontal Line window.
    To access the Format Horizontal Line window:
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Horizontal Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Horizontal line that is to be formatted and press the Format… button.
  2. Select the Style tab.
  3. In the Color section select any of the preset 40 colors or click the Others… button to select the custom color.
  4. From the Style drop-down list select the desired style.
  5. From the Weight drop-down list select the desired weight.
  6. Check the Use as Default check box to use these settings as the default settings when creating other Horizontal lines.
  7. Click OK.


Setting Labels

  1. Access the Format Horizontal Line window.
    To access the Format Horizontal Line window:
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Horizontal Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Horizontal line that is to be formatted and press the Format… button.
  2. Select the Labels tab.
  3. Check or uncheck the Show Labels check box to display or hide the labels.
  4. Enter the desired font in the Font field or select it from the Font list.
  5. Enter the desired font style in the Font Style field or select it from the Font Style list.
  6. Enter the desired font size in the Size field or select it from the Size list.
  7. In the Effects group check or uncheck the Strikeout or/and Underline check boxes to display the labels struck out or/and underlined.
  8. From the Character Set drop-down list select the desired character set.
  9. From the Align drop-down list select the desired type of the labels' alignment.
  10. Check the Use as Default check box to use these settings as the default settings when creating other Horizontal lines.
  11. Click OK.


Setting Coordinates Precisely

  1. Access the Format Horizontal Line window.
    To access the Format Horizontal Line window:
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then double-click.
    Or
    1. Drag the cursor to the Horizontal line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Horizontal Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Horizontal line that is to be formatted and press the Format… button.
  2. Select the Properties tab.
  3. In the Coordinates section enter the desired price coordinate in the Value field.
  4. Click OK.


Cloning Horizontal Line

To clone a Horizontal line:

  1. Drag the cursor to the Horizontal line that is to be cloned.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
  3. Select Clone Drawing from the shortcut menu.