Point Swing Chart Overlay
The Point Swing Chart Overlay is used to superimpose a Point Swing Chart over a bar based chart (bar, candle, range, or line). The swing lines are drawn as straight lines joining swing tops to bottoms.
To add the tool to your chart, select the tool from the Swings 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: POINTSWING()
Actions & Properties
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Point Swing Chart Overlay 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 Point Swing Chart Overlay 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 Point Swing Chart Overlay 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.
Points: Sets how many points the market must move before the swing will turn. The points look at the scale of your chart to determine how far the market must move. For example, if your data were in quarters, then ten points would be 10 quarters or 2.5 in value. If 1 decimal place, then 10 x 0.1 or 1.
Calculate Using: This option allows you to select from either the ‘High/Low’ or ‘Close’ value for the calculation of the Point Swing.
Show Labels: When selected, the price value of the last bar where the Point Swing overlay ends will be displayed.
Visible Labels: This expands to display a list of available labels that you can select from to display on the Gann Swing overlay. There are 9 labels available: Price, Bars, Calendar Days, Bar Date, High/Low Date, Range, Price Retracement, Time Ratio and Last Swing Price.
Text Size: Use the slider bar to adjust the size of the text displayed in the expanded section of the Chart Annotation. Moving the slider bar to the right will increase the size of the text.
Text Colour: Allows you to adjust the colour of the label text.
Text Angle: Allows you to choose whether the label text appears on horizontally (0 degrees) or vertically (90 degrees).
Up Colour: Sets the colour of the Point Swing Chart Overlay when the swing is moving up. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Down Colour: Sets the colour of the Point Swing Chart Overlay when the swing is moving down. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Line Width: Allows you to adjust the width of the Point swing lines. Moving the slider bar to the right increases the thickness of the line.
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 Point Swing value will be displayed in the Price Scale.