Line Break: Difference between revisions
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→Understanding Line Break Chart Type
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==Understanding Line Break Chart Type== | ==Understanding Line Break Chart Type== | ||
[[File:LBChart1.png|right|LB]]The concept of the Line Break chart is similar to Point and Figure charts. It is made up of a series of vertical blocks called lines that use close prices to indicate market direction. The Line Break chart looks like a series of rising and falling lines of varying heights. Each new line, like the X's and O's of a point and figure chart, constitutes a new column. Using close prices (or highs and lows), a new rising line is drawn if the previous high is exceeded. A new falling line is drawn if the price hits a new low. | |||
The concept of the Line Break chart is similar to Point and Figure charts. It is made up of a series of vertical blocks called lines that use close prices to indicate market direction. The Line Break chart looks like a series of rising and falling lines of varying heights. Each new line, like the X's and O's of a point and figure chart, constitutes a new column. Using close prices (or highs and lows), a new rising line is drawn if the previous high is exceeded. A new falling line is drawn if the price hits a new low. | |||
==Selecting Line Break Chart Type== | ==Selecting Line Break Chart Type== | ||
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# Open the '''Format Instrument''' window by one of the following methods: | # Open the '''Format Instrument''' window by one of the following methods: | ||
#* Click the Format Instrument icon on the Chart Analysis toolbar; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | #* Click the Format Instrument icon on the Chart Analysis toolbar; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | ||
#* Position the mouse pointer over the symbol's data series; double-click once the '''Pointer''' | #* Position the mouse pointer over the symbol's data series; double-click once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]]; or: | ||
#* Position the mouse pointer over the symbol's data series; once the '''Pointer''' | #* Position the mouse pointer over the symbol's data series; once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]], right-click and then click '''Format''' 'Symbol Name'; or: | ||
#* Right-click on an empty area of the chart and then click '''Format Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | #* Right-click on an empty area of the chart and then click '''Format Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | ||
#* Select '''Format''' in the main menu and click '''Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button. | #* Select '''Format''' in the main menu and click '''Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button. | ||
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| Buy next bar at market | | Buy next bar at market | ||
| Order is placed on the first tick of the new bar, i.e. on the Open of the next bar. | | Order is placed on the first tick of the new bar, i.e. on the Open of the next bar. | ||
| Order is placed at the price of the first received tick, this tick may not be a part of a box, in this case the order is displayed not on OHLC of the box but on the price level of the first received tick. | | Order is placed at the price of the first received tick, this tick may not be a part of a box, in this case the order is displayed not on OHLC of the box but on the price level of the first received tick. | ||
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| Buy this bar at close | | Buy this bar at close |