Gann Single Degree Line
The Gann Single Degree Line is a traditional method of squaring time and price. A one-by-one line (1 x 1, or 45-degrees) refers to a line where every movement of one unit of time means the line will move by one unit in price. The Single Degree Line allows you to add a single line that is squared by time and price instead of the multiple lines in the Gann Fan Angles tool.
To apply a Gann Single Degree Line to a chart, select it from the Gann tool group. Left-click on a point where you wish to start drawing the line and move your mouse pointer to begin drawing the line. Left-click on the chart again when the desired line has been created.
The length of the line is determined by how far in time your second click is from your first click. As with the other tools, you can manipulate this at a later stage if required.
Optuma determines what the price value movement should be from the scale of the chart to which you have applied the Gann tool. However, if it doesn't seem to 'fit' the chart you can manually adjust the Price Unit field in the Properties panel (see below).
Actions & Properties
Add to Toolbar: Click this action to add the selected tool to your custom toolbar.
Apply Settings to All: When multiple Single Degree Lines 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 changing colours - as this allows all the other Single Degree Lines 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.
Create Parallel Line: This action creates a duplicate line that is parallel to the original. When this option is selected your mouse pointer will change into a pencil. Left-click on the position where you want to create the parallel line.
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: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
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 for the name of the tool to be changed, as displayed in the Structure Panel.
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 (for example, 0.1).
Data Type: Sets the data style used in calculating the angle. It can be set to either Bars (e.g. trading days, weeks) or Calendar Days.
Show Label: Check this box to display the price value of the line. Uncheck the box to hide it.
Label Alignment: The price label can be placed in different positions in relation to the division lines. There are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.
Font Size: If Show Label is selected you can adjust the size of the text displayed for the label. Moving the slider bar to the right increases the font size.
Degrees: Sets the angle in degrees with which to draw the line e.g 45 degrees = 1 x 1.
Line Style: Allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot and Stippled.
Line Width: Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Extend Left: Check this box to extend the line to the left.
Extend Right: Check this box to extend the line to the right.
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.