Tools

Note: Do no use excessive tool drawings on charts. Transparent, lines thicker than 2, and dotted/dashed draw styles may slow down charts. Read more in the Performance guide

Contents:

• Put Frequently Used Tools in the Control Bar
• Create a Saved Configuration for a Tool
• Chart Drawing Alerts
• Edit The Options and Visuals of a Tool
• Display Drawn Tools Across Other Charts or Chartbooks
• Description of Common Tools
• Risk Reward Tool
• Percent Change Tool - Plus Other Metrics
• Tool Visibility and Clearing
• ◀️Previous Module: @Control Bar Customization
• ▶️Next Module: @Hotkeys

Put Frequently Used Tools in the Control Bar

Save clicks and reduce time spend clicking around. View tutorial on Control Bar HERE

Create a Saved Configuration for a Tool

The settings and visuals of a tool can be saved as a configuration. For example, instead of always using the default styling of a tool, there is a saved configuration with preset settings and anchors. These can also be saved to the Control Bar. More on that HERE.

Get started:

• Open a chart window
• Title Bar: Tools > Select any tool (Example: Extending Rectangle)
• Right click the tool drawing the was just applied
• Click Chart Drawing Properties
• Configure the tool as needed. Colors, anchors, and options
• In the Options tab, choose a Config Num from the dropdown menu
• Give the Config a Name “Zone”
• OK
• Title Bar: Global Settings > Customize Control Bars > Control Bar 1
• From the available commands find Tools - Custom Drawing Tool, expand
• Find the correct CDT that was previously saved
• Press Add →
• OK

There should be a button on the control bar for the newly created drawing tool configuration.

Chart Drawing Alerts

Chart drawings on graphs can use alerts. These alerts can be a sound, email, SMS, or alert log.

Any of these chart drawings work with Alerts:

Tip: Consider adding Chart Drawing Alerts as a button on the Control Bar

• Open a chart
• Title Bar: Global Settings > Tool Configs > (Choose a chart drawing. Example: Horizontal Line)
• Move the line (or other tool) to desired location to set alert
• Right click the Line and press Alerts
• Adjust Chart Drawing Alerts as needed
• OK

Edit The Options and Visuals of a Tool

• Right click any tool that has been drawn on a chart
• Click Chart Drawing Properties
• Configure the tool as needed. Colors, anchors, and options
• OK

Display Drawn Tools Across Other Charts or Chartbooks

• Title Bar: Chart > Chart Settings > Chart Drawings tab > Copy Chart Drawings From Chart #s
• Type the name of the Chartbook and chart number separated by a colan
• Example: Chartbook2:2

That means Chartbook 2 chart number 2

Description of Common Tools

• Extending Rectangle: This extends the entire section of the chart, great for zones

Risk Reward Tool

• Open chart
• Title Bar: Tools > More Tools > Reward / Risk
• 1st click: stop loss risk location
• 2nd click: entry or average price of position
• 3rd click: target

The stats will populate after those data points are established. Distances in ticks and risk reward ratio.

Tip: It is possible to save a configuration for this tool. Apply the tool to any chart as described above. Right click the drawn tool, and click Chart Drawing Properties. Choose a configuration number (TC1) then give the configuration a name then click Save. OK.

Percent Change Tool - Plus Other Metrics

An easy way to measure the percent change of a price graph is using the calculator

• Tools > Chart Calculator
• Click two different locations on the map to see the calculation

Tool Visibility and Clearing

Consider buttons in the control bar for:

• Hide study
• Unhide study
• Erase last drawing

View tutorial on Control Bar HERE

Alternatively, all drawings can be cleared by:

• Title Bar: Tools > Erase All Non - Text Drawings

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