This dialog allows you to specify the characteristics of any Trendlines you wish to draw. It also lets you draw Speed Resistance Lines and Gann Fans. To draw any of these lines, simply click on one point and drag to another. Each line you draw can be formatted independently.
Each heading below corresponds to one of the option groups in the larger dialog window. For more details click on the relevant heading.
Drawing Options
You can select the Color of your Line by clicking on the colored square to the left of Line Color. You can also change the Style used to draw the Line to any of the defined values (Normal, Wide, Dashed, Dotted, Dash-Dot, Dash-Dot-Dot or Invisible) using the drop down list to the right of Line Style.
If you check Automatically Extend Using, your Trendlines will be extended to the edges of the overlay window using the color specified by clicking the colored square on the right. This option is ignored when you enable either Speed Resistance Lines or Gann Fans; in those cases, all lines are extended to the right but not the left.
If you check Draw Line Bisector, a short line is drawn perpendicular to the Trendline midway between the two points you used to draw the Trendline. Regardless of whether this item is checked, the midpoint is indicated by a third circle when the line is selected.
Speed Resistance Lines
If you check Enable, Speed Resistance Lines will be drawn automatically when you draw a Trendline.
You can choose a Line Color and a Line Style in the same way that is described under Drawing Options above.
Speed Resistance Lines are normally drawn so that, if a vertical line were drawn from the second point of the Trendline to the Price Level of the first point, that vertical line would be divided into three equal parts. If for some reason you want something different, you can specify your own Levels. A negative number will produce a line at a smaller angle than the Trendline (which is how most people use Speed Resistance Lines); a positive number will produce a line at a larger angle.
Gann Fan
If you check Enable, a Gann Fan will be drawn automatically when you draw a Trendline.
You can choose a Line Color and a Line Style in the same way that is described under Drawing Options above.
W. D. Gann specified the angles at which the fan lines should be drawn and there is no option that allows you to change these angles. Note that ChartOverlay does not draw at exactly the angles specified by Gann. This is because it will be difficult (or impossible) for you to draw the primary Gann line (1 x 1) at precisely 45 degrees. Instead, you should draw what you consider to be the 1 x 1 line and the remaining lines will be drawn at the correct relative angles. In effect, this allows you to draw the Gann Fan on a chart for which the X and Y axes have a relationship other than 1:1, which is the circumstance you are most likely to encounter.
The following items are common to all of the drawing tools. Click on a link for details (use the Back button to return here).
Behavior Options
More Options / Fewer Options
