The Wheel of 24
The Wheel of 24 chart was one of the charts used by W.D. Gann in identifying market turning points. Optuma has developed the Wheel of 24 using the same graphical power as the Square of Nine chart. The Wheel of 24 chart requires the Gann tool module add-on, and can be opened from the Gann folder located under the New menu button.
See also: Static Wheel of 24 tool.
The Wheel of 24 (also known as a Gann Wheel) is a circular numerical chart which by default starts with 1 from the centre and completes one cycle by filling up 24 sections of the circle with 24 incremental numbers moving anticlockwise. W. D. Gann sometimes called it the Wheel within Wheel.
The Wheel of 24 is made up of several different components; each one can be fully customised and has a specific purpose to allow access to all required information.
Overlays: Choose the angle, colour, and starting point of your overlay. For example, a 120 degree overlay can be applied along with a 90 day overlay from a different position. See the Properties section below for more details on Overlays.
Wheels: The wheels around the outside of the Wheel of 24 grid can also be customised for direction and display, such as year, day, degrees or planets (requires Astro module). More in the Properties section below.
Grid settings: By default the Wheel of 24 starts with one in the centre, and each ring that progresses adds numbers to the series in increments of one, in an anti-clockwise direction. However, you do have the ability to change both the increments and the starting value to anything of your choice - even a negative number.
Note: This video is a clip taken from the Gann Changes in Optuma 1.4 video by Mathew Verdouw. You can view the full version here:
Navigating the Wheel of 24
By using the scroll wheel on your mouse you can zoom in and out of the Wheel of 24. Note that it will zoom to your mouse cursor. To reset the view hit the Escape key.
To move the chart on the screen, left-click in the blank area between the table and the inner ring. When the cursor changes to a hand drag the chart to the required position:
Actions & Properties
Clone Chart: When selected an exact replica of the existing Wheel of 24 chart will be created.
Print Chart: Opens the page in a PDF document, which can then be printed.
Restore Default Settings: Click this action if you have adjusted the default settings of the Wheel of 24, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the Wheel of 24's properties you can save the adjustments as your new default setting. Each time you open a new Wheel of 24 it will display using the new settings.
Send To: Expands to display the following options:
- Clipboard - Saves a copy of the Hexagon Chart to the Clipboard, either in Bitmap or Vector format.
- Image File - Saves a copy of the Hexagon Chart as an image file, either in Bitmap or Vector format.
- Outlook - Applicable to Professional Services only, when selected the current Hexagon Chart will be sent to Microsoft Outlook.
- Word - Applicable to Professional Services only, when selected the current Hexagon Chart will be displayed as an image in Microsoft Word.
Start Price: The starting value of the Wheel of 24 grid. The default setting is 1, but can be changed to any number (including negative).
Increment: Use this option to increase the increment between values (i.e. an increment of 4 will start at 1 with the subsequent values in the table being 5, 9, 13, etc).
Rings: Allows the number of rings used to make up the Wheel of 24 to be adjusted. By default the chart will open with 10 rings.
Selected Price: To select a value from which to draw an Overlay, either click on a value on the chart or type it here.
To fully customise the how the wheels appear around the grid click the Wheels option to open the window:
Display: The options for the type of wheel are as follows:
- Degrees: shows 0-360 degrees around the wheel
- Day: shows the wheel as 24 hours, from 0-23:59
- Year: shows the wheel as a calendar year
- Planets: (requires Astro module) shows the planetary positions and houses
Direction: Clockwise or Counter Clockwise
Start From: Choose where the wheel starts from:
- Selection: The wheel will begin (ie 0 degrees for the Degree wheel) at the number you click on the wheel
- North / East / South /West
- Moveable: Manually click and drag the wheel to the required position
Allows you to set the overlays based on degree or day counts around the wheel. You can type any value required, and specify any colour.
The overlay can start from the selected price, or Fixed to keep it locked in position. Enable the repeats to continue the counts. For example 90 degrees will repeat at 180 and 270 degrees when ticked.
Available from Optuma 2.0 and later, the Wheel of 24 now supports the Highlighted Overlay style, where an overlay will begin from the selected value, rather than the center of the wheel.
Overlay Width: Use the slider or type a value to change the width of the overlays
Bar Width: The Bar is the semi-transparent ruler placed on the table when a price is selected. Use the slider or type a value to increase/decrease the width of the bar.
Bar Angle: This option allows the angle of the to be set manually (e.g. zero degrees is horizontal, 90 degrees is vertical when the Wheel display is set to degrees and starting West).
Show Diamond: Shows the diamond angles from the selected price.
Highlight Colour: Sets the colour to be used when highlighting a particular value. A value is highlighted when you double left-click on it. You can have multiple values highlighted with different colours.
Show Help: Untick this box to hide the Chart Controls from the chart.
Date Control Link: This option is applicable if you have a tiled price chart next to the Hexagon. Enabling this feature will synchronise both charts.
ASTRO MODULE ONLY
Clients with the astro module have the ability to add a planetary wheel around the grid that shows the houses of the zodiac and the planetary positions (including retrograde motion).
Show Planets in Grid: Displays the glyphs in the grid as per image in the introduction.
Planet Factor: By default this is set to 1, but because planets can only be between 0 and 360 degrees change this value to display above 360. For example, if Mars was at 206 degrees and the Planet Factor was set to 2 then 412 will be highlighted with the Mars glyph.
Planets: Choose the planets to be displayed on the wheel and in the grid.
Ephemeris Date: Allows you to manually set the date.
Price: Allows you to enter a degree value for which a $ symbol will be displayed on the Hexagon Chart. The Show Planets option must be selected for this to work.
Geo/Helio/Sidereal: Allows you to choose the ephemeris view between geocentric, heliocentric, sidereal and topocentric.
GMT Offset: Use this option to adjust the ephemeris time zone setting for a specific market. Select the required GMT setting and the ephemeris will automatically update.
Coordinate System: Changes the planetary positions based on equatorial or ecliptic coordinates.
Direct Colour: Set the colour of the planetary glyphs as displayed in the grid when in direct motion.
Retrograde Colour: Set the colour of the planetary glyphs as displayed in the grid when in retrograde motion.