DGL Trade Bands
DGL Trade Bands are entry/exit “trade bands”. There are two bands for buying and two for selling. Buy 1 and Buy 2 bands are used to determine possible entry points. Sell 1 and Sell 2 bands are used to determine possible exit points. Once a trade is entered the DGL Trade Bands can also be used as stops.
Buy 1 Band : 2*((High + Low + Close)/3) - Low<br></br>Buy 2 Band : ((High + Low + Close)/3) + (High - Low)<br></br>Sell 1 Band : 2*((High + Low + Close)/3) - High<br></br>Sell 2 Band : ((High + Low + Close/3) - (High - Low)
To add the tool to your chart, select the tool from the Price 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: DTB()
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 Technical Alert: When selected, a Technical Alert will be created for the selected security.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple DGL Trade Bands 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 DGL Trade Bands 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 DGL Trade Bands 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.
Show Prices: When selected the current DGL Trade Band values will be displayed at the end of the tool.
Upper 1 Style: This option expands to show the following:
- Plot Style - Allows you to change how the upper trade band is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- 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 upper trade band line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the upper trade band line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Fill Up / Down Barrier - When the Plot Style is set to Shaded you are able to adjust the barrier value, i.e. the margin between the two correlation plots. The default value is 0.00.
- Fill Up Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Fill Down Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Transparency - When the Plot Style is set to Shaded you are then able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the tool.
- Visible - Un-tick this checkbox to hide the upper trade band from the chart.
Upper 2 Style: This option expands to show the properties of the Upper 2 trade band. The properties are identical to those listed for the Upper 1 Style.
Lower 1 Style: This option expands to show the properties of the Lower 1 trade band. The properties are identical to those listed for the Upper 2 Style.
Lower 2 Style: This option expands to show the properties of the Lower 2 trade band. The properties are identical to those listed for the Lower 1 Style.
Offset: This provides the option to offset the DGL Trade Bands from the chart, to adjust the offset value use the blue up and down arrows.
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.
Show In Price Scale: When selected the current DGL Trade Band values will be displayed in the Price Scale.