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Knowledge Base

Price Clusters

Overview


A number of tools in Optuma, such as Fibonacci, Horizontal and Gann etc.) are designed to locate important price levels on a chart. When multiple tools are applied to a chart it can be difficult finding important convergences of these tools, which can assist in highlighting important support/resistance levels in the market.

The Price Cluster tool has been designed with this problem in mind and highlights the horizontal tool convergences in a simple, clean manner.

In this example a number of price tools have been applied to the chart and the Price Cluster tool has then been applied. By increasing the Overlap property to adjust the tolerance of the calculations, three lines were clustering just below 31, and two below 29:



The chart can look cluttered with multiple tools applied, so these can be hidden from view by un-ticking the 'Visible' property of the tools (or the 'eye' icon in the  Structure Panel) leaving just the Price Cluster tool. Significant levels are identified by the bigger lines of the Price Cluster tool where the tools overlap.



Actions & Properties


Actions


Add to Toolbar: Click this action to add the selected Price Clusters tool to your custom toolbar.

Apply Settings to All: When multiple Price Clusters 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 Price Clusters tools in the chart, page or entire workbook to be updated instantly.

Copy Data to Clipboard: 
Will copy the tool's values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Copy Tool: Allows you to copy the selected Price Clusters tool, 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 Price Clusters tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default:
If you have adjusted any of the Price Clusters properties (colour, for example), you can save the adjustments as your new default setting. Each time you apply a new Price Clusters tool to a chart, the tool will display using the new settings.

Process Price Cluster: If new tools are added to the chart after the cluster tool has been applied, you need to click this action to re-process the cluster calculation.

Delete: Delete the Price Clusters tool from the chart.

Properties


Tool Name: Allows you to adjust the name of the tool, as it's 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). For more information on the Price Unit, click here.

Target Layer: Allows you to select a specific Layer from the chart. When a specific layer is selected only tools within that layer will display in the cluster tool window.

Overlap: Adds a line either side of the cluster based on the Price Unit value. For example, if the Price Unit is 0.10 and the Cluster line is at 36.40 and an Overlap value of 1 is used, a line will be plotted 0.10 either side of the Cluster line, i.e. at 36.30 and 36.50.

Show Value Lines: When selected a line will be displayed at the right-hand margin of the Price Clusters tool.

Plot Style: Allows you to change how the tool is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.

Line Style: The Line Style property allows you to adjust the type of the line displayed. 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 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.

Fill Colour:
When the Plot Style is changed to Shaded you are then able to alter the Fill Colour for the Show View tool.

Fill Transparency: When the Plot Style is changed to Shaded, you then are able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.

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.

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