There are three reasons for which you might want to enter Prices. They are required for Logarithmic Scaling and for calculating an extension as a Percentage of the prior Retracement (see below). You may also want to have ChartOverlay calculate the prices associated with the Fibonacci Levels.

If you have already entered prices for another object, you can ask ChartOverlay to Automatically Calculate Prices. Be careful, however. The calculated prices will be approximate. This is because the points you can specify with the mouse are actually Pixels, which have a width and a height. Depending on the price scale at the right of your chart, each pixel actually represents a range of prices. While ChartOverlay does its best to figure out what you mean, there is no guarantee that it will choose the correct price from among many possibilities.

You can also Specify Prices yourself (the only choice if no price information is available yet). In this case, First corresponds to the beginning of he line that you drew and Second corresponds to the end. When you specify First, Second will be calculated automatically.

The Fibonacci Levels button lets you specify which Extension Levels you want to see. You can choose standard levels or you can enter your own.

Choose Same Percentage if you want the extension to move by the same percentage as the original (eg, if you had a move from 15 to 20 and a pullback to 18, the end of the extension would be 24, representing a 33% move from 18). You need prices to choose this option.

Choose Same Delta if you want the extension to move by the same amount as the original (eg, if you had a move from 15 to 20 and a pullback to 18, the end of the extension would be 23, representing a 5 point move from 18).

You can select the Color of your Lines by clicking on the colored square to the left of Lines. To select the Color of your Numbers click on the colored square to the left of Numbers.

You can also change the Style used to draw lines to any of the defined values (Normal, Wide, Dashed, Dotted, Dash-Dot, Dash-Dot-Dot or Invisible). To change the style of the extension line use the drop down list to the right of Price Movement Line Style. To change the style of the horizontal lines that ChartOverlay will draw to indicate the Fibonacci Levels use the drop down list to the right of Fibonacci Line Style.

If you are drawing several Fibonacci grids, you may not want your horizontal Fibonacci Level lines to extend all the way across your chart. If this is so, you can specify a Fibonacci Line Length indicating the length (in inches) that you prefer.

Choose Left or Right to indicate at which end of the Fibonacci Level lines you want ChartOverlay to Draw Numbers (or choose Neither if you don't want numbers).

Check Connect To Prior Move if you want to connect this Extension to the movement it is based on. This creates a three-wave line.

If you are drawing an extension near the right edge of your window, you can save space by checking Draw Extensions Vertically. If this option is not checked, the extension line will be drawn parallel to the original move.