Dynamic Hex Intervals
The Dynamic Hex Intervals tool is very similar to the Dynamic Square of 9 indicator, with the primary difference being the Hex tool uses Gann's Hexagon chart to calculate the intervals, rather than a Square of 9 chart.
The Hexagon chart was used extensively by W.D. Gann in determining price targets. The lines created using the Hexagon chart often reveal support and resistance in the market. This tool is dynamic in that the starting point is user defined (rather than a value of 1 which is the default starting value of the Hexagon chart).
In this example, the Dynamic Hex tool has been placed on a low of $81 on the chart on the right, with the tool levels set to 90, 180, 270 and 360 degrees. Looking at the the 180 degree level of $97.41 on the price chart, we can see that this is opposite 81 on the Hexagon Chart (on the left, in blue), and 115 (in red) is the next ring around (ie 360 degrees) from 81. The 90 and 270 levels are also shown in green on the wheel, matching the price chart.
To apply the Dynamic Hex Intervals tool, select the tool from the Gann tool group and left-click once on the chart to choose a starting point. Move your mouse cursor to the left or right to extend the level lines, and the second mouse click will determine the direction of the levels: click above the starting point and they will draw upwards, or click below and they will draw downwards. Adjust the degree levels, the Price Unit and/or number of Revolutions as required.
VideoNote: This video is a clip taken from the Gann Changes in Optuma 1.4 video by Mathew Verdouw. You can view the full version here.
Actions & Properties
Add New Level: Allows new angles to be added or existing angles to be edited.
Add Price Alert: Creates an alert at the selected price level. For more information on Price Alerts, click here.
Add to Toolbar: Click this action to add the selected tool to your custom toolbar.
Apply Settings to All: When multiple Dynamic Hex Interval tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as hiding or adding levels - as this allows all the other Dynamic Hex Internal tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows the selected tool to be copied, which can then be pasted onto a different chart window.
Move to Back: If the lines of the tool are displaying in front of other tools or indicators clicking this action will move the lines view to the background.
Move to Front: If the lines of the tool are displaying behind other tools or indicators on the chart, clicking this action will bring the lines to the forefront.
Restore Default Settings: If you have previously changed the default properties of the tool and wish to revert those changes back, click this action. Note: Only the selected tool will revert, those tools previously saved with the changed properties will not be updated.
Save Settings as Default: If you have adjusted any of the tool's properties (such as the colour) you can save the adjustments as your new default setting. Each time you subsequently apply the tool to a chart it will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows the name of the tool to be changed, as displayed in the Structure Panel.
Dynamic Hex Intervals: Click on this option to display the different levels.
To add a new angle to the chart, left-click on the blue + button and enter the values as needed. To delete a level left-click on the red (x).
- Value - Sets the levels in degrees. To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line colour, style, width and transparency of the levels.
- Visible - To hide a level, deselect the check box with the green tick.
Use Chart's Price Unit: By default, the price unit of the chart is used in the tool calculation. Untick the box to manually adjust the value in the Price Unit property.
Price Unit:This option is available when the Use Chart's Price Unit box is unticked (see above). Enter a new value to manually determine what one unit of price is equal to in the tool's calculation (eg 0.1).
Apply Price Unit to Chart: When this box is checked all Gann tools added to the chart will be automatically calculated using the same Price Unit.
Revolutions: The number of 360-degree cycles around the Square of Nine Chart.
Factor: Multiplies the magnitude between the levels. So if the distance between two intervals is 5 on an interval of 1, the distance would increase to 10 with a factor of 2, and 15 with an factor of 3.
Extend Left: Check this box to extend the degree levels to the left.
Extend Right: Check this box to extend the degree levels to the right.
Show Prices: This provides an option to show or hide the price and degree values for each level.
Label Alignment: You can elect to display the labels in different positions in relation to the levels. There are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.
Font Size: Allows you to adjust the size of the text displayed for each label. Moving the slider bar to the right increases the font size.
Base Line Style: Allows you to adjust the style, width, colour and visibility of the horizontal and vertical baselines.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.