The Barros Pivots indicator is a proprietary tool, based on the work of Ray Barros from Trading Success Pty Ltd.
To add the tool to your chart, select the tool from the Barros 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. You can then left-click and drag the blue dot on the lines to extend them across your chart.
Actions & Properties
Add Price Alert: Selecting this action will set a Price Alert at the value the Horizontal Line is positioned.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Barros Pivots 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 Barros Pivots 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 Barros Pivots to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Pivot Levels: Click on this option to display the different Barros Pivot levels, the following properties can be adjusted:
- Value - Sets the Pivot Point value for the Pivot line. To change the value amount, click in the field and enter the new value.
- Line Style - Sets the line type, thickness, colour and transparency of the Pivot Point lines.
- Visible - To hide a level, deselect the check box with the green tick.
Timeframe: The time frame used in the Barros Pivots calculation can be set to either Daily, Weekly, Monthly or Yearly.
Mode of Calculation: Allows you to nominate either Range or True Range for the Barros Pivot calculation.
Show Text: This provides an option to show or hide the Barros Pivot values for each Pivot line.
Extend Left: Check this box to extend the Barros Pivot lines to the left.
Extend Right: Check this box to extend the Barros Pivot lines to the right.
Label Alignment: Can elect to display the Barros Pivot label in different positions in relation to the Pivot lines, there are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.
Font Size: Allows you to adjust the size of the text displayed for each label used in the Barros Pivots. Moving the slider bar to the right increases the font size.
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.
For additional information on editing the pivot levels of this tool, click here.