Trend Lines
Updated
01/17/12
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FastTrack for the Web allows you to draw multiple trend lines using your mouse.
When you can draw a trend line, then the issue is "trending".
While an Issue is trending, you should use trend-following
indicators, not trading-range indicators.
The Big Feature
A neat aspect of FastTrack's trend lines is that you can draw the trend line on an AVG of
a family of funds or stocks, and then step through the members of the family to determine
which are ahead or behind in the current move.
The trend line will automatically adjust itself to whatever red line is currently drawn.
Basics
- trend lines are drawn on the red line of the T or P Charts. If other color lines are on
the chart, they will be ignored. trend lines are relevant ONLY to the red line.
- You may draw up to 20 trend lines on a screen.
- A trend line has four points as shown above. A series of four clicks sets the numbered
points above. Points 1 and 4 set the trend line start and end points . These points do not
need to touch the red line. Points 2 and 3 set the slope of the trend line and MUST touch
the red line.
- You may change the red line to another issue and the trend line will be redrawn touching
points 2 and 3 and ending on points 1 and 4.
- You may save trend lines and reload them as you wish.
Step by Step
Click on the "Trend" button on the Chart Tools Toolbar.
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- Click a starting point for the trend line somewhere on the Charts.
- Click to set the first point at which the trend line should touch the red
line.
- Click to set the second point where the trend line should touch the red
line.
- Click a fourth time to
set the length of the trend line
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Right-click the Chart Tab Toolbar and select Trend extend to
make all trend lines extend to the most recent date charted.
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Making Changes
If you make an error at any time before clicking the fourth point completing the line,
move the mouse to the left. Any of the 1st through 3rd points that you move back over will
be removed. Moving the mouse to the left of the first point erases the trend line. Once you
click the fourth and final point, then the trend linecannot be changed. You must remove it
and redraw.
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The trend lineLabel
Once drawn, the trend line will display a percentage at the top. This trend linelabel by
default shows the percentage gain of the trend line. The label can be dragged to a more
convenient place if you like.
Right-clicking on the trend line label brings up several options.
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Font - Changes the label's font.
Remove - Removes the label.
Text - Use to change the label's text. |
trend lineWidth
Once a trend line is drawn it retains it's original width as then defined by the
Appearance Dialog. The width cannot be modified except by deleting
and redrawing the line.
Removing Trend lines
Double-click beneath the trend line to select it (the line will turn dashed instead of
solid) and then hit the <Delete> key on your keyboard. The double-click will always
select the trend line which is above and closest to the mouse pointer at the time of the
click.
To get rid of Default trend lines . Right-click on the Chart toolbox and select
Trend/Clear. When you exit FT4WEb without any trend lines displayed, then the DEFAULT
trend line set will be erased.
Trend Line Saving
Right-click on the chart and select Save/trend lines . The trend line file
will be saved in
...\FT\FT4WIN\TRENDS\USERDEF\*.TRN
If you draw trend lines and then exit FT4WEB without saving the trend lines as a
specific, named set of trend lines . Then the trend lines will be saved in a trend line set
named "Default". On restarting FT4WEB, the DEFAULT trend line set will be
automatically restored . . . whether or not you intended to do so.
trend lines can be loaded again later by right-clicking the chart and
selecting Load/trend lines .
Disclaimer: No technical indicator can assure profits. As market conditions
change, the interpretation and use of the indicator must change.
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