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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.
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== Inserting Trend Line ==
# 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''' [[File:Drawing_TL.png]] icon on the '''Drawing''' toolbar.
#* Click the arrow next to the '''Drawing tools''' [[File:Show Hide Drawing Tools.png]] icon on the '''Main''' toolbar and select '''Trend Line''' from the menu.
# The cursor will change to the '''Trend line''' [[File:tl_pointer.gif]].
# In the Chart Area click where the Trend line is to begin.
# Then keeping the left mouse button pressed move the pointer up, down, left, or right to position the Trend line.
# Release the button.
<div style="background-color: #E3FBE5;">'''Note:''' To create a horisontal or vertical Trend Line hold '''Ctrl''' while inserting the Trend Line.</div>
== Moving Trend Line ==
To move a Trend line without changing its slope or length:
# Point the cursor at the Trend line that is to be moved.
# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]].
# Then keeping the left mouse button pressed drag the Trend line to the desired position.
# Release the button.
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== Reshaping Trend Line ==
To reshape a Trend line (change its slope or length):
# Point the cursor at the Trend line that is to be reshaped.
# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]].
# Left-click the Trend line and 2 small squares will appear at both ends of the Trend line.
# Drag one of these squares till the drawing tool becomes of the desired shape.
# Release the button.
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== 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.
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=== Setting Style ===
# Access the '''Format Trend Line''' window.
#: To access the '''Format Trend Line''' window:
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then double-click.
#::Or
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then right-click.
#:# Select '''Format 'Trend Line'…''' from the shortcut menu.
#::Or
#:# In the '''<font color="blue">Format Objects</font>''' window select the '''Drawings''' tab.
#:# Select the Trend line that is to be formatted and press the '''Format…''' button.
# Select the '''Style''' tab.
# In the '''Color''' section select any of the preset 40 colors or click the '''Others…''' button to select the custom color.
# From the '''Style''' drop-down list select the desired style.
# From the '''Weight''' drop-down list select the desired weight.
# Check the '''Use as Default''' check box to use these settings as the default settings when creating other Trend lines.
# Click '''OK'''.
<br>
=== Extending Trend Line to Left or Right ===
# Access the '''Format Trend Line''' window.
#: To access the '''Format Trend Line''' window:
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then double-click.
#::Or
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then right-click.
#:# Select '''Format 'Trend Line'…''' from the shortcut menu.
#::Or
#:# In the '''<font color="blue">Format Objects</font>''' window select the '''Drawings''' tab.
#:# Select the Trend line that is to be formatted and press the '''Format…''' button.
# Select the '''Style''' tab.
# In the '''Extend''' section check the '''Left''' or/and '''Right''' check boxes to extend the Trend line to the left or/and right.
# Check the '''Use as Default''' check box to use these settings as the default settings when creating other Trend lines.
# Click '''OK'''.
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=== Setting Calculation Type ===
# Access the '''Format Trend Line''' window.
#: To access the '''Format Trend Line''' window:
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then double-click.
#::Or
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' http://www.multicharts.com/img/wiki/cursors/Hand.gif, then right-click.
#:# Select '''Format 'Trend Line'…''' from the shortcut menu.
#::Or
#:# In the '''<font color="blue">Format Objects</font>''' window select the '''Drawings''' tab.
#:# Select the Trend line that is to be formatted and press the '''Format…''' button.
# Select the '''Properties''' tab.
# 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.
# Click '''OK'''.
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=== Setting Coordinates Precisely ===
# Access the '''Format Trend Line''' window.
#: To access the '''Format Trend Line''' window:
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then double-click.
#::Or
#:# Drag the cursor to the Trend line that is to be formatted.
#:# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then right-click.
#:# Select '''Format 'Trend Line'…''' from the shortcut menu.
#::Or
#:# In the '''<font color="blue">Format Objects</font>''' window select the '''Drawings''' tab.
#:# Select the Trend line that is to be formatted and press the '''Format…''' button.
# Select the '''Properties''' tab.
# In the '''Coordinates''' section enter the desired time coordinates in the '''Start Date''' and '''End Date''' fields or use the drop-down calendars.
# In the '''Coordinates''' section enter the desired price coordinates in the '''Start Value''' and '''End Value''' fields.
# Click '''OK'''.
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== Cloning Trend Line ==
To clone a Trend line:
# Drag the cursor to the Trend line that is to be cloned.
# The cursor '''Pointer''' [[File:Pointer.png]] will change into '''Hand''' [[File:Hand.png]], then right-click.
# Select '''Clone Drawing''' from the shortcut menu.
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[[Category:Drawing_Tools]]
