Fixed Days Low Stop
Fixed Days Low Stop plots the stop loss line by using the user-defined lowest low over a user-selected period (8 bars by default). It stops when the current price is less than the lowest low.
To add the tool to your chart, select the tool from the Stops tool group, and left-click on the desired point on the chart you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: FDLSCAN()
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 Fixed Days High Stop 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 Fixed Days High Stop 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 Fixed Days High Stop 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.
Period: Adjusts the number of periods used in calculating the tool.
Price Crosses: Allows you to adjust when the stop is triggered and stops plotting. Which part of the price bar crosses the line is the trigger (High, Low, Close, Open).
Stop Offset: Allows you to move the stop line left or right.
Calc Using: Allows you to select whether to calculate the tool using the Open, High, Low, Close, or User Defined.
User Value: When Calc Using is set to User Defined, this property allows you to set the starting value of the stop.
Show Text: Allows you to show/hide the price text label at the end of the tool.
Enter Date: Allows you to set the start date for the tool.
Font Size: Allows you to adjust the font size of the text labels displayed on the tool.
Line Style: 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 line for the tool. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to adjust the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Offset: Moves the tool forward or backward in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
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 Fixed Days High Stop value will be displayed in the Price Scale