skip to content

Trendline

Description

The basic trendline is the simplest drawing used by technical analysts. It is used for revealing trends and their acceleration, applying the fan principle, analyzing relative steepness, and many other purposes. For your convenience, we added a label to the trendline, which displays its principal parameters: the length of the trendline (as expressed in both number of bars and time units such as days, hours, minutes, depending on the timeframe you are using), the price change correspondent to the difference between its start and end points (expressed in both dollars and percentage), and its slope. Bullish trendlines have positive values of the price change and the slope, while bearish trendlines show the negative ones.

Although choosing a correct trendline is a problem sometimes, adding it to chart is quite simple. Choose Trendline from the Active Tool menu. Specify two points that will define the slope of the trendline. The trendline will appear on chart.

Properties

Appearance:

  • Arrow type. Edit this property to add an arrow to one or both ends of the trendline.

  • Visible. Set this property to "No" in order to hide the trendline.

  • Label position. Defines where the trendline label should be shown.

  • Show label. Defines whether to always show the label at the specified position, or on mouse hover only, or to hide it completely.

  • Left extension. Set this property to "On" to extend the trendline all the way to the left. Trendline will keep the extension if the viewed time period is extended. This option is also available from the right-click context menu.

  • Right extension. Set this property to "On" to extend the trendline all the way to the right. Trendline will keep the extension if the viewed time period is extended. This option is also available from the right-click context menu.

Begin point:

  • Value. Defines the price value corresponding to the begin point.

  • Date/Time. Defines the time scale value corresponding to the begin point.

End point:

  • Value. Defines the price value corresponding to the end point.

  • Date/Time. Defines the time scale value corresponding to the end point.

Note that you can transform the trendline into channel. To do so, right-click the trendline and choose "Redraw as Channel". The trendline will be transformed into a channel. Note also that the channel cannot be transformed back into the line.

Time Level Fibonacci