The Recoils tool is a time cycle that plots windows of opportunities where trends may begin and end for a given security. There are 8 recoil time cycles and they have varying lengths and repeating periods.
*Note: When applying this tool we suggest that you try apply each of the Recoil types and verify which one might resonate best with your security of interest.*
To add the tool to your chart, select the tool from the Optuma Extreme Tools tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: RECOILS()
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Recoils 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 Recoils 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.
Set Time Alert: Selecting this action will set a Time Alert at the value the Vertical Line is positioned.
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 Recoils 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 Structures Panel.
Recoil Type: The Recoils tool uses 9 unique models to determine the timing for each set of non-linear cycles. Typically, a security that resonates with one of the models has a high probability of continuing to resonate with the same model. The model that is used can be changed by changing the value of the Recoil Type property.
Full Height: Makes the zone extend to the full height of the chart.
Colour: Allows you to edit the colour of the tool.
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.