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Chart Overlay Help
Time Cycles
Most of the studies provided by ChartOverlay deal with the Price axis. These studies deal
with the Time axis.
Each heading below corresponds to one of the option groups in the larger
dialog window.
Drawing Options
Choose either Fibonacci Time Cycles or Fixed Time Cycles. Fibonacci Time Cycles are
also called Fibonacci Time Zones.
With Fibonacci Time Cycles, vertical lines will be drawn at increasing intervals. These
intervals are based on the Fibonacci Numbers.
Fixed Time Cycles will be drawn at regular intervals. They are represented by semi-circles.
Their size is specified in the edit box to the right of Fixed.
Because ChartOverlay cannot actually see the bars on the chart you are studying, you must
give it the information needed to draw the time cycles accurately. This information has two
key elements. One element is the horizontal line you will draw. This line will indicate two
things: the starting point for the cycles and a length. The second element is the Calibration
Length, which tells ChartOverlay haw many bar widths are represented by the length of
your line. ChartOverlay will use this to calculate an average bar width. Stating the
Calibration Length is similar to describing the length of a fence; whereas 10 sections of fence
require 11 fence posts, a Calibration Length of 10 requires 11 bars. It is important that the
line you draw begin and end at the same point in the first and last bar (eg, center to center or
left edge to left edge). If the chart you are studying has a large number of closely-packed
bars, you should increase the Calibration Length accordingly so that an accurate average can
be determined.
You can select the Color of your Lines by clicking on the colored square to the left of Line
Color. You can also change the Style used to draw the Lines 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.
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
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