Probability Box
Overview
The Probability Box is used to determine the mean, true range, strength, square and standard deviation of range and volume for a selected number of bars. The volume values are only available for data files that contain volume data. You can extend the Probability Box in any direction (forwards or backwards). The top and bottom of the Probability Box is always set to the closing values of the first and last bars selected.
To add the tool to your chart, select the tool from the Statistical tool group, and left-click on the first bar you want to calculate the tool from. Next, left-click on the bar where you want to calculate the tool to. Finally, left-click a third time where you want the text to appear. Optuma will then draw the tool using the default settings.
Actions & Properties
Actions
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Probability Box 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 Probability Box 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.
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 Probability Box 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.
Show Volume: Check this box to show the Volume statistics. Uncheck to hide.
Show Range: Check this box to show the Range statistics. Uncheck to hide.
Show True Range: Check this box to show the True Range statistics. Uncheck to hide.
Show Swing: Check this box to show the Swing Strength statistics. Uncheck to hide.
Show Square: Check this box to show the Square root statistics. Uncheck to hide.
Font Size: Allows you to adjust the size of the text displayed for each Probability Box statistics. Moving the slider bar to the right increases the font size.
Font Colour: Allows you to adjust the colour of the text that is displayed for the Probability Box Statistics.
Line Style: The Line Style property allows you to adjust the type of lines used to draw the Probability box. 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 Box lines. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to adjust the colour of the Box lines.
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.