Updata Technical Analyst

Trend Lines

The first thing you are likely to want to do when you have a chart in front of you is to draw a trend line. So rather than having to click a button or select trend from a menu you simply click and drag with a mouse right away and you have a trend line. Indeed click and drag on any chart at any time, including indicator windows, and you get a trend line. You can configure your mouse pointer to zoom instead or to drag a chart from side to side if you prefer.

Convenience of drawing trend lines doesn’t end there. Click on any trend line and drag and you pull away a parallel to release wherever you want. If you are used to using trend channels, this is much better because you can draw a true channel of a proper support or resistance line rather than a regression channel (which you can do as well) that “best fits” the data.

Trend area is a great new concept. This gives your trend line a thickness of your preferred percentage price variance. So if you like 3% as your tolerance you get a line that thick in price terms. The thickness adjusts itself according to changes in price, so with dramatic price changes you get a wedge.