Customize Calculation of a Trendline
Use the Calculations tab to calculate a trendline.
Access by double-clicking on the Trendline or right-clicking on the object and using the Edit "Trendline" menu sequence. Select the Calculation tab.
- Freestyle - Select this setting to draw a trendline in any angle and in any position you choose. You can reposition a freestyle Trendline without any restrictions.
- Extreme - Select this setting to attach a positive sloping Trendline to the lowest low of the beginning bar and to the highest high of the ending bar included in the Trendline. Attaches a negative sloping Trendline to the highest high of the beginning bar and the lowest low of the ending bar included in the Trendline. When repositioning or increasing/decreasing bar spacing, Trendlines based on extreme values will always attach to the lowest low and highest high of the appropriate bars.
- Fixed point - Select this setting to attach a specified price on the beginning and ending bars of a Trendline. For example, selecting Open draws the Trendline from the open of the beginning bar of the Trendline to the open of the ending bar of the Trendline. When repositioning or increasing/decreasing bar spacing, a fixed point Trendline will always attach to the appropriate fixed point setting. To create a Trendline based on fixed points, use the drop-down menu to select the appropriate bar price: open, high, low, or close.
- Regression - Select this setting to draw a linear regression line based on the bar price selected for all bars included in the Trendline. This regression calculation is also known as the Best Fit method. For example, selecting Open plots a linear regression line based on the opening prices of all bars included in the Trendline. When repositioning or increasing/decreasing bar spacing, a linear regression line will always recalculate based on the linear regression settings. To create a Trendline based on linear regression calculations, use the Regression drop-down menu to select the appropriate bar price to calculate the linear regression line: open, high, low, or close.
- Screen angle - Select this setting to draw a trendline to the screen angle you specify. When repositioning this Trendline, it will maintain its specified angle. Since this Trendline is not mathematically calculated, the Trendline will not recalculate when increasing/decreasing bar spacing. Therefore, it is recommended that Screen Angle be used strictly as a visual tool. To create a Trendline based on a screen angle, enter the appropriate angle in the Screen Angle box.
- Gann angle - Select this setting to draw a trendline based on specified time (Run) and price (Rise) values. Run is represented by the number of bars while Rise is represented by the number of points the Trendline rises (increases along the y-axis) per bar. For example, a Trendline with a Rise of 2 and a Run of 1 has a 2 to 1 price to time ratio. Therefore, for every bar, the Trendline increases in price two points. For a Trendline with a Rise of 1 and a Run of 8, the Trendline increases 1 point for every 8 bars. When you reposition or increase/decrease bar spacing, a Trendline based on Gann Angles will recalculate to maintain the Rise and Run ratio, keeping the slope constant.
Remember to keep your Rise and Run values within the price and bar range of your Trendline.
Set as Default - Check this setting to use any changes that you made as your default.
Click OK to apply changes or Cancel to exit without changes.