Trend Line

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A Trend Line is an analytical drawing tool used to indicate the direction of price movement. The upward trend line is called bullish, the downward trend line is called bearish. A trend reversal may take place if a market moves away from its current trend. The Trend Line can be represented as a Ray Line or as an Extended Line.

Ray Line - is a trend line that can be extended to the right only. It is an analytical drawing tool used to indicate the possible future direction of the price movement.

Extended Line - is a trend line that is extended to the left and to the right. It is an analytical drawing tool used to indicate the past and future direction of the price movement.

Inserting Trend Line

  1. Select one of three ways to insert a Trend line:
    • In the menu select Insert, point to Drawing and click Trend Line.
    • Click the Trend line Drawing TL.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 Trend Line from the menu.
  2. The cursor will change to the Trend line Tl pointer.gif.
  3. In the Chart Area click where the Trend line is to begin.
  4. Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Trend line.
  5. Release the button.
Note: To create a horisontal or vertical Trend Line hold Ctrl while inserting the Trend Line.


Moving Trend Line

To move a Trend line without changing its slope or length:

  1. Point the cursor at the Trend 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 Trend line to the desired position.
  4. Release the button.


Reshaping Trend Line

To reshape a Trend line (change its slope or length):

  1. Point the cursor at the Trend line that is to be reshaped.
  2. The cursor Pointer Pointer.png will change into Hand Hand.png.
  3. Left-click the Trend line and 2 small squares will appear at both ends of the Trend line.
  4. Drag one of these squares till the drawing tool becomes of the desired shape.
  5. Release the button.


Formatting Trend Line

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

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

One can change the style of the Trend line: its color, style and weight. One can choose any element of the Trend line to be displayed or hidden. It is possible to extend the Trend line to the left or/and to the right. One can also select one of 4 calculation types available to compute a Trend line. It is also possible to change the time and price coordinates of the Trend line.


Setting Style

  1. Access the Format Trend Line window.
    To access the Format Trend Line window:
    1. Drag the cursor to the Trend 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 Trend line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Trend Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Trend 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 Trend lines.
  7. Click OK.


Extending Trend Line to Left or Right

  1. Access the Format Trend Line window.
    To access the Format Trend Line window:
    1. Drag the cursor to the Trend 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 Trend line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Trend Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Trend line that is to be formatted and press the Format… button.
  2. Select the Style tab.
  3. In the Extend section check the Left or/and Right check boxes to extend the Trend line to the left or/and right.
  4. Check the Use as Default check box to use these settings as the default settings when creating other Trend lines.
  5. Click OK.



Setting Calculation Type

  1. Access the Format Trend Line window.
    To access the Format Trend Line window:
    1. Drag the cursor to the Trend 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 Trend line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.gif, then right-click.
    3. Select Format 'Trend Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Trend line that is to be formatted and press the Format… button.
  2. Select the Properties tab.
  3. In the Calculation type section select desired calculation type:
    • Freestyle - allows drawing a trend line in any angle and in any position. Using this calculation type one can select the desired time and price coordinates.
    Note. Both time and price coordinates are available for this calculation type.
    • Extreme - allows drawing a trend line attached to the extreme values of the beginning and ending bars included in the trend line.
    Note. Only time coordinates are available for this calculation type.
    • Fixed Point - allows drawing a trend line attached to a defined price (Open, High, Low or Close) of the beginning and ending bars included in the trend line. One should select the desired bar price type from the Fixed point drop-down list.
    Note. Only time coordinates are available for this calculation type.
    • Regression - allows drawing a trend line as a linear regression line based on the bar price selected for all bars included in the trend line. One should select the desired bar price type from the Regression drop-down list to calculate the linear regression line.
    Note. Only time coordinates are available for this calculation type.
  4. Click OK.


Setting Coordinates Precisely

  1. Access the Format Trend Line window.
    To access the Format Trend Line window:
    1. Drag the cursor to the Trend 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 Trend line that is to be formatted.
    2. The cursor Pointer Pointer.png will change into Hand Hand.png, then right-click.
    3. Select Format 'Trend Line'… from the shortcut menu.
    Or
    1. In the Format Objects window select the Drawings tab.
    2. Select the Trend line that is to be formatted and press the Format… button.
  2. Select the Properties tab.
  3. In the Coordinates section enter the desired time coordinates in the Start Date and End Date fields or use the drop-down calendars.
  4. In the Coordinates section enter the desired price coordinates in the Start Value and End Value fields.
  5. Click OK.


Cloning Trend Line

To clone a Trend line:

  1. Drag the cursor to the Trend 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.