Dual Vector Concentric Circle

Author: Optuma Team Last updated: Feb 9, 2018 06:32

Overview

The Dual Vector Concentric Circle is a geometric tool based on the work of Scott Hathaway and is very similar to the Vector Concentric Circle. For more information, please click here.

This tool draws a circle using two vectors that are drawn from the same central point (A), thereby needing to establish a price-lock ratio that unifies both vector distances (lines AB & AC).

This tool is intended (as most of Scott Hathaway’s tools are) as a set-up for further geometric explorations. In this first example, the angle of vector AC (from horizontal) is manually drawn from the top and right ‘corners’ of the circle. A radian angle can also be utilised, as shown in the next example:

Selected directly from the dual vector circle tool menu, this angle of 32.7042Deg comes from using the radius distance (vectors AB, AC) drawn along the circle (1 ‘radian’, as represented by the dashed blue line) from the top. This angle provides useful support and resistance including the major top. Its intersection with the circle’s height provides a time reversal for the following major reversal’s lowest close (vertical line added manually).

Actions & Properties

Actions

Add Line Alert: Creates an alert based on the selected Vector line. See here for more information on Line Alerts.

Add to Toolbar: Click this action to add the selected Vector Concentric Circle to your custom toolbar.

Apply Settings to All: When multiple circles 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 circles in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected Dual Vector Concentric Circle, 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.

Price Flip: Duplicates the Dual Vector Concentric Circle based on price.

Restore Default Settings: Click this action if you have adjusted the default settings of the Dual Vector Concentric Circle, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the Dual Vector Concentric Circle properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Dual Vector Concentric Circle to a chart, the tool will display using the new settings.

Time Flip: Duplicates the Dual Vector based on time.

Rotate 90 Degrees: Moves the Dual Vector through 90-degrees.
Delete: Delete the Dual Vector Concentric Circle from the chart.

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Radian Angles: Allows you to set various angles within the concentric circle.

Degree: Manually change the angle of the Vector.

Show Text: Untick to hide the text label.

Font Size: Allows you to adjust the size of the text displayed for each label used in the text. Move the slider bar or roll the mouse wheel to increase the font size.

Show Harmonics: Duplicates the concentric circle.

Fractional Ratio: Ratio of the harmonic circles.

Harmonics Style: Change the harmonic circle line style, width, colour and transparency.

Show Squares: Draws a square around the concentric circle.

Extend Lines: When Show Squares is enabled, this option can be selected to extend the square lines.

Square Style: When Show Squares is enabled, you can then adjust the square line style, width, colour, and transparency.

Show Grid: Tick this box to show a grid based on the Vector.

Grid Line Style: The Line Style property allows you to adjust the type of line displayed (eg dashes, dots), line width, colour, transparency and extensions.
Radius 1 Line Style: Change the line style, colour, width and transparency of the radius 1 line. A tangent can also be selected.

Radius 2 Line Style: Change the line style, colour, width and transparency of the radius 2 line. A tangent can also be selected.

Circle Style: Change the line style, colour, width and transparency of the circle.

Tool Transparency: Use this slider bar or roll the mouse wheel 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.