Trend Line
Application
The Trend Line drawing tool has several useful applications. It is predominantly used to manually draw lines illustrating trends in the market or associated indicators. It can also be used as arrows (there is an option to put an arrow on one or both ends) which are used to designate points of interest. To draw a trend line at 45-degree angle, keep the Shift key pressed while drawing.
Style
In Style property dialog it is possible to change the appearance of a Trend Line:
Line
Sets the color, opacity, thickness and style of a trend line. The second drop-down menu contains options of setting the line style and extending one or both line's ends to infinity. Also, in the last two drop-downs of Line section, an arrow-shaped end may be set instead of a normal one for the left and right ends of the line.
Middle Point
Toggles the visibility of the trend line's mid-point.
Price labels
Toggles the visibility of price values of the trend line's two points on the price axis
STATS
Checkboxes Price range, Percent change, Change in pips, Bars range, Date/time range, Distance, Angle allow to display the label with the relevant information beside the trend line on a chart.
Position for this label is to be selected in Stats position drop-down menu.
Price range
Toggles the visibility of text displaying the price range between the trend line's two points.
Percent change
Toggles the visibility of text displaying the percent change in price between the trend line's two points.
Change in pips
Toggles the visibility of text displaying the price change between the trend line's two points in pips.
Bars range
Toggles the visibility of text displaying the number of bars between the trend line's two points.
Date/time Range
Toggles the visibility of text displaying the date/time range between the trend line's two points.
Distance
Toggles the visibility of text displaying the specific distance (in terms of periods) between the trend line's two points.
Angle
Toggles the visibility of text displaying the inclination angle of the trend line (in degrees).
Always show stats
If this checkbox is not selected, Stats will appear beside only when the trend line is selected by mouse click.
Text
In the Text property dialog, it is possible to change the text format.
When the Text checkbox is active, a text may be entered in the text box to be displayed beside the trend line. You can change the text color and font size. You can also choose to bold and/or italicize the text. The Text alignment drop-down allows to set the text position along the trend line.
You can edit the text of a trend line directly on the chart – you just need to click on the text field, and you can type.
Coordinates
In the Coordinates properties dialog, you can set precisely the position of the Trend Line's end points on the price scale (by setting the price) and the time scale (by setting the bar number):
Price 1
Allows for the precise placement of the trend line's first point (Price 1) using a bar number and price.
Price 2
Allows for the precise placement of the trend line's second point (Price 2) using a bar number and price.
Visibility
In the Visibility properties dialog you can switch displaying of a trend line on charts of different timeframes:
Alert
It is possible to set an alert to get notified if a series crossed the Trend Line on a chart. Use the clock icon in floating drawing toolbar or in right click menu on the Trend Line itself:
Then select a condition, periodicity and preferable method of notification and press Create:
