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| The Ellipse tool will draw an Ellipse or a Circle on the Chart. The Ellipse itself is drawn inside a bounding Rectangle which is evident when drawing or when the Ellipse is selected. The primary use use of an Ellipse is to enclose a section of market behavior. When the market trades outside of this boundary a possibility of a change in trend is indicated. A more accurate model of this behavior can be studied when using the 'Rotated Ellipse' tool as it is applied to individual trends. |
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- Select the button for drawing an Ellipse from the Toolbar.
- Move the mouse pointer over the starting position for the Line. This may be either a high or a low price.
- Press the left mouse button, and , keeping it pressed down, drag the mouse pointer to the desired end point and release the left mouse button.
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 The property editor as well as other functions may be accessed by holding the mouse pointer over the Ellipse and Clicking the Right Mouse button. A popup menu will appear ( see picture ).
The user may then open the Indicator Property Editor, Duplicate the Ellipse, move the Ellipse above or below other indicators, hide the Ellipse or delete the Ellipse from the Chart. |
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The property editor as well as other functions may be accessed by holding the mouse pointer over the indicator line and Clicking the Right Mouse button. You can also access the Property Editor directly by 'Double Clicking' on the line. All the drawing tools share the same property editor allowing the user to alter the following properties:
- Line Color
- Line Width
- Translucent Color
- Translucent Visibility
- Translucent Strength
After alteration, the user has the ability to set these settings as default for all future lines drawn on the page. |
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