Line Study Tools
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ChartNotes provides you with a wide variety of Line Study drawing tools. Watch our Line Study Tools video or read on below to learn more about how to use and apply these utilities.
Each Line Study Tool available in ChartNotes is listed and described below in more detail. Here is a screenshot of where you can find the Line Study Tools menu.
After selecting the Fibonacci Retracement tool, you can click on a significant bottom (or top) on your chart and then drag up (or down) and to the right to the next significant top (or bottom). Important Fibonacci Retracement levels (0%, 38.2%, 50%, 61.8%, and 100%) will automatically be added to the chart, with their values displayed on each line.
Notes:
Hold down the CTRL/CMD key while dragging your mouse to have Fibonacci Extensions (additional Fibonacci levels) included.
Hold down the CTRL/CMD key and click to toggle price levels.
Once created, hold the CTRL/CMD key, click on the yellow handle and drag to toggle extra levels (23.6% and 161.8%).
After selecting the Quadrant Lines tool, click your mouse at the start of the period you wish to analyze, then drag to the right until reaching the end of the period you wish to analyze. Important quadrant levels for that time period will automatically be added to the chart as you move your mouse.
After selecting the Fibonacci Arc tool, click on a significant bottom (or top) on your chart and then drag up (or down) and to the right to the next significant top (or bottom). This will display the Fibonacci Arc on the chart. You can then click on the Base Line to move the indicator or make adjustments to the starting or ending points.
Notes:
Hold down the CTRL/CMD key while dragging your mouse to have additional Fibonacci arc lines included.
Once created, hold the CTRL/CMD key, click on the yellow handle and drag to toggle extra arc lines.
After selecting the Fibonacci Time Zone Lines tool, you can click anywhere on the chart to determine the starting point for the Time Zones. Note that the spacing of the subsequent lines is fixed and cannot be changed.
To use any of the cycle tools, simply select the tool, then click and drag on the chart. The further you drag, the longer the cycle. For the Sine Wave annotation, drag vertically to set the height of the wave, then horizontally to set the length of the cycle.
After selecting the Raff Regression Channel tool, click your mouse at the start of the period you wish to analyze, then drag to the right until you have enough data points to create a useful channel.
After selecting the Andrews' Pitchfork tool, you can click on a significant bottom (or top) on your chart, then click on the next important reversal and, lastly, click again on the next important reversal beyond that. After clicking on those three points, the Pitchfork lines will be added to your chart using the currently selected color and line width.
After selecting the Fibonacci Fan tool, click on a significant bottom (or top) on your chart and then drag up (or down) and to the right to the next significant top (or bottom). This will display the Fibonacci Fan on the chart. Users can then click on the starting or ending points to make adjustments.
Notes:
Hold down the CTRL/CMD key while dragging your mouse to have additional Fibonacci fan lines included.
Once created, hold the CTRL/CMD key, click on the yellow handle and drag to toggle extra fan lines.
After selecting the XABCD tool, click on a significant top (or bottom) on your chart, then click on the next important reversal, then the next important reversal after that, and so on until you have made five clicks (bottom-top-bottom-top-bottom or top-bottom-top-bottom-top). This will display the Harmonic Pattern lines on your chart.
You can click and drag on any of the lines to move the entire annotation. To make adjustments to any of the five points, click and drag on one of the yellow handles.
After creating the Harmonic Pattern, you can change its color and fill characteristics using the buttons on the horizontal menu at the top of the chart.
After selecting the Speed Resistance Lines tool, you can click on a significant reversal point on your chart and drag towards the next price reversal point. This will add Speed Lines to your chart using the currently selected color and line width.
Fibonacci Retracement lines can help you anticipate where reversals may occur in the future. For more, please see .
Quadrant Lines can help you anticipate where reversals may occur in the future. For more, please see .
Fibonacci Arcs are used to identify potential support, resistance or reversal points. For more, please see .
Fibonacci Time Zone lines can help you anticipate when significant price changes may occur in the future. For more, please see .
ChartNotes supports three different tools for studying cycles: Cycle Lines, Cycle Circles and Sine Waves. For more information, please review .
Raff Regression Channels can show you the overall trend for prices during a given period of time, along with expected upper and lower bounds for price movements. For more, please see .
Andrews' Pitchfork lines can help you anticipate where reversals may occur in the future. For more, please see .
Fibonacci Fans are used to identify potential support, resistance or reversal points. For more, please see .
The XABCD tool helps you annotate harmonic patterns on your charts. For more, please see .
Speed Resistance Lines can help you anticipate significant price changes in the future. For more, please see .
