Drawing and annotating your charts is one aspect of market analysis. Marking key points of interest, or using one of the many Fibonacci, Pattern, Pitchfork, Fan or Elliot Wave tools available on TradingLite, saves you from having to switch to another platform. In this article we will explore all of the drawing options available to you.
To the left of your TradingLite browser window, you will find the Drawing Toolbar:
Currently there are 5 different crosshair modes available to use.
Mouse / Hidden
The Magnet toggle allows you to quickly ‘snap’ to OHLC (Open, High, Low, Close) values on the chart, in addition to points drawn by Indicators, enabling the ability to accurately draw or measure between various points.
Quickly Hide or Show all of your drawings via the toggle.
Pressing the Padlock icon allows you to lock all of your current drawings in place to prevent accidental selection preventing movement or deletion.
Note that once the 'Lock Drawings' is selected/locked, you will not be able to add additional drawings until you unselect/unlock.
You can also lock drawings individually by pressing the padlock icon within the mini menu that is displayed on completion/selection of a drawing.
The Stay in Drawing Mode toggle, will allow you to plot multiple instances of the same drawing without interruption.
Quickly Delete / Clear all drawings via this button.
If you accidentally press this, use the Undo button in the top toolbar to restore your drawings.
With over 30 drawing tools available, the chart is your canvas! 🎨 We will be providing a break down of all of the drawing tools in the near future. For now here is an list of all available tools broken down by category:
Fibonacci Time Zone
Head & Shoulders
Three Drives Pattern
Pitchfork (Modified Schiff)
Elliott Impulse (12345)
Elliott Triangle (ABCDE)
Elliott Triple Combo (WXYXZ)
Elliott Correction (ABC)
Elliott Double Combo (WXY)
The drawing tools have the following options available via the mini menu, that is displayed upon completion/selection:
Color & Transparency/Opacity/Fill
Line thickness (in px) - Click to change
Line style (solid, dash, dots) - Click to change
Padlock - Lock/Unlock this particular drawing
Cog - Manually selection of Line Colour, Thickness and Style, in addition to editable coordinates
Trash Can - Delete
A double click of your drawing will allow manual selection of the drawings’ parameters, within the drawing options window (shown below).
You may be the next Picasso with your drawings, but what good is that without the ability to organise them!
In the lower-left of your TradingLite chart window, you will find the Drawing List toggle.
Click this will open the Drawing List window. Here you can see all the drawings within your panes, allowing you to quickly select and adjust as required. Feel free to dock this window elsewhere if you prefer!
Double clicking on any of your drawings will produce the Drawing Options Window.
Here you will have the ability to finely tune the drawings’ positions, allowing for greater accuracy across timeframe. This window also has the ability to be docked to suit your preferences.
Importantly and unlike other platforms, these X & Y positions are fixed, no matter the timeframe chosen, maintaining pin-point accuracy throughout.
In addition to the standard price, percentage and time measurements, if the TradingLite Heatmap is active, the measure tool will also show the cumulative order book values within the measured range.
In effect, an upward trajectory shows an increase in value of liquidity / limit orders being placed, whilst a downward trajectory shows a decrease in value of liquidity / limit orders being placed.
When creating, editing or selecting a drawing, X & Y axis label ranges are highlighted to show each of their coordinates.
Missing a particular drawing tool? Or style option? Have a browse over at our Suggestions/Feedback area. Make sure you search to determine if your suggestions has not already been mentioned. If so, give it a vote! If not, feel free to create a new suggestion.
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