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Knowledge Base

Chart Pattern Overlay

Overview


This indicator will highlight common chart patterns (both bullish and bearish) including multiple patterns at once.

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To add the Chart Pattern Overlay indicator to your chart, select the tool from the Swings tool group, and click on the chart on which you wish to add the tool. Optuma will then draw the tool on the chart using the default settings.

Actions & Properties


Actions


Add to Toolbar: Click this action to add the selected Chart Pattern Overlay to your custom toolbar.

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

Copy Tool: Allows you to copy the selected Chart Pattern Overlay, 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 Chart Pattern Overlay, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the Properties (colour, for example) you can save the adjustments as your new default setting. Each time the Chart Pattern Overlay is applied to a chart, the tool will display using the new settings.

Delete: Delete the Chart Pattern Overlay from the chart.

Properties


Tool Name: Allows you to adjust the name of the tool, as it's displayed in the Structures 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.

Min Pivot: Sets the minimum value to be used in the Pivot calculation.

Chart Pattern: Displays the chart pattern property menu where you can select from a range of bullish and bearish chart patterns.

Tolerance %: Sets the tolerance percentage to be used when identifying chart patterns.

Show Boxes: Un-tick this checkbox to hide any of the Pattern boxes from the chart.

Bearish Pattern Style: This option expands to show the following:
  • Line Style - The Line Style property 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 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 Bearish Pattern line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
  • Transparency - Use this slider bar to adjust the transparency of the Bearish Pattern lines. Moving the slider to the left will increase the transparency of the tool.
  • Box Colour - Allows you to select the colour of the Bearish Pattern box. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
  • Box Transparency - Use this slider bar to adjust the transparency of the Bearish Pattern boxes. Moving the slider to the left will increase the transparency of the tool.
  • Visible - Un-tick this checkbox to hide the Bearish Patterns from the chart.

Bullish Pattern Style: Expands to display the properties of the Bullish Patterns. The properties are identical to those listed for the Bearish Pattern Style.

Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

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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