Parabolic Curve
Overview
The Hathaway Parabolic Curve tool allows the user to create a fully customized basic parabolic curve with associated price and time grid.
In the example shown, a simple curve is generated using from the important low of 442.88, using its square root of 21.045 (rounded). The major high of Oct 2007 is identified marking the subsequent bear market and financial crash of 2008.
In addition, important low closes and high closes (as would be seen on a line chart) identify future reversals when their time or price is ‘squared’ with the curve (blue lines).
Many other applications of this curve are possible, with some shown in the video below.
To add a Parabolic Curve to your chart, select the tool from the Hathaway tool group, and click on the desired location on the chart. Optuma will then draw the curve using the default settings.
Video
Actions & Properties
Actions
Add to Toolbar: Click this action to add the selected custom Parabolic Curve to your custom toolbar.
Apply Settings to All: When multiple Parabolic Curve 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 Parabolic Curve tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected Parabolic Curve, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the Parabolic Curve, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the Parabolic Curve Properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Parabolic Curve to a chart, the tool will display using the new settings.
Delete: Delete the Parabolic Curve from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Parabolic Curves: Click on this option to display the different Parabolic Curves levels.
- Value - Sets the Fibonacci value for the Retracement line. To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line type, thickness, colour and transparency of the Retracement lines.
- Visible - To hide a level, deselect the check box with the green tick.
Tool Type: Allows you to switch from Ascending to Descending.
Curve Type: Set to either Increasing or Decreasing.
Price Level: Sets the Price Level calculation, the default is SqRt(L).
Time Cycle: Sets the Time Cycle calculation, the default is SqRt(L).
Show Line: When deselected the Parabolic Curves grid will be hidden from view.
Show Text: When deselected the grid values will be hidden (only applicable when Show Line is selected).
Grid Line Style: This option expands to display the following:
- Line Style - There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the selected Grid line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to adjust the colour of the selected Grid line.
- Transparency - Use this slider bar to adjust the transparency of the selected Grid line. Moving the slider to the left will increase the transparency.
- 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.