Impulse Ripples
Overview
It has often been quoted that, “Time is the most important factor in determining market movement and by studying past price records you will be able to prove to yourself that history does repeat.” At the heart of the Impulse Ripples tool is a proprietary Optuma algorithm that is applied by clicking onto a significant pivot, high or low, which in turn projects potential changes in trend dates into the future.
In the example chart below, the tool was applied where the arrow with the number 1 is located. Four vertical lines with dates have been plotted onto the chart. You may notice that the lines fade and become more transparent as time passes. This fading effect represents the fading of the strength of the potential change in trend into the future.
To add the tool to your chart, select the tool from the Optuma Extreme Tools tool group, and left-click on the bar on the chart you wish to calculate the tool from. Optuma will then draw the tool using the default settings.
Scripting Function: IMPULSERIPPLES()
Actions & Properties
Actions
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.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Impulse Ripples 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 line colour - as this allows all the other Impulse Ripples tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected 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 view 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.
Set Time Alert: Selecting this action will set a Time Alert at the value the Vertical Line is positioned.
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 (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Impulse Ripples to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
Start Date: Allows you to adjust the start date/initial trend, of the tool.
Direction: Allows you to adjust the direction in which the ripples move away from the start date/initial trend. Possible options are Forward, Reverse, & Both.
Use Intraday Model: We have designed a special set of Impulse Ripples for use on intraday charts. Use this property to switch to the intraday model.
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, Stippled.
Line Width: Allows you to edit the width of the ripple lines. Moving the slider to the right will increase the width of the tool.
Line Colour: Allows you to edit the colour of the ripple lines.
Line Over All Views: Check this box to ensure that the ripple lines extend over all tools or indicators that are placed on the chart. For example, the lines will run through the volume indicator if this box is checked.
Show Labels: Expands to display the following properties:
- Show Date - When checked, this property will show the date of the ripple.
- Date Display - Allows you to select whether you want the Date only, or the Date and the Time of the ripple to be displayed.
- Label Size - Allows you to adjust the size of the labels. Moving the slider to the right will increase the size of the label.
- Label Colour - Allows you to edit the colour of the label text.
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.