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1. 2002 2010 Omnium Software Inc Getting Started 16 you what would happen if you simply changed the Decimal Symbol to a comma while leaving the List Separator also set to comma ChartOverlay would not know how to interpret something like 0 382 0 618 1 272 1 618 ChartOverlay does check for this condition when it starts up and it will terminate with a warning if it should discover this problem Decimal symbols other than period and comma have not been tested If you try one please let us know how it works 1 6 10 Displaying Price Data You may ask ChartOverlay to display in the title bar the price corresponding to the cursor position This requires that you provide ChartOverlay with hints which you can do by right clicking on any chart point in the overlay window After clicking choose Set Price Here from the menu and the Set Price dialog will appear Enter the price corresponding to the point you clicked then do it again for a second price Once you have set two prices ChartOverlay will display prices like this Chart Overly 40 24 0 072 YUntitled Wit Z I Xx I ui Trend Retrace Pitchfork Time This feature has an important limitation Your computer screen is divided into a fixed number of pixels each of which occupies a small but non zero amount of space This differs from a mathematical point which has zero size Suppose you are viewing a chart in which prices range from 10
2. Chart Overlay User s Manual 2002 2010 Omnium Software Inc Chart Overlay Help Table of Contents Part a P WN ch 7 8 9 10 11 12 13 14 Part Il 1 2 3 Part Ill a P ON ch Foreword 0 Getting Started 3 dg ee Te e Tu E 3 EXamples viii id cd di ia 4 Glossary of Terms ui a 8 DOM Sa Ne TEE 10 How can ChartOverlay help ccccscccsseeceesseeeeeeeeeeeeseeeeeeseaeeeenseessesaeeeeeseaaesenseeesesaeeaeesenesenseeees 10 7 IS 10 Places where you can use ChartOverlay sssssssesssssssserssssesesessseneransesteeeassenenanaeseeeeenaesenenanseseeenansenenenassesenanaeaes 11 AA A 11 Getting Help iii rs EA Transparentvs Translucent ocicsisiesssesiesccseccsccnssassiessstescdincasasneseadenasbaiescenecesscbesasisaesoaesuadinsanoaiesuadeassaiinadaiecencatesasiedanes Customizing Toolbar Button Behavior Large and Small Dialogs More Options Fewer Options ssssesesseesseseesensseseeesesseeseesenseeeseeseeseeseesensensensees 13 SAVING VOUF WOK EE 13 Changing What You ve Drawn icci scsccescciecnctssecesseaediccececdecneasthczedeicczececedenseadesnceyinnsduecdsaaduezecettavereceseatecsatecesseuecepeeeaces 14 Multiple Overlay e E 15 International Number FORMAtS iscsciesesccecstecseccteteaseeced civsadeccessszennestasduenacaseecascaetzeszacehstvsadbuedssdszsasecses uenadaseidasdautsssacehs 15 Displaying Price Data wiicciscisceiececctscsscseescesecosesssccesccseasteacesqas
3. Connect To Prior Move Draw Extensions Vertically Behavior Options Don t Show this Dialog Every Time W Make These Values the Startup Defaults 4 5 Andrews Pitchforks This dialog allows you to control the appearance of you Median Lines the Pitchfork It also lets you choose which of various secondary lines will be drawn and what they will look 2002 2010 Omnium Software Inc 57 Chart Overlay Help like The Pitchfork is defined by three points A B and C that correspond to significant alternating highs and lows on your chart They should be selected in chronological order earliest to latest Each heading below corresponds to one of the option groups in the larger dialog window Additional Lines For each of the secondary lines you can select the Color by clicking on the colored square to the right of the name s You can change the Style to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible using the drop down list to the right of the color square Level 1 Upper refers to a parallel line drawn above the Upper Median Line at a distance equal to the distance between the upper and central median lines Level 1 Lower is similar except that it is drawn below the Lower Median Line The Level 2 lines are similar to the Level 1 Lines but are drawn at twice the distance These lines are called Warning Lines You can draw any Additional Warning Lines you
4. Leonardo of Pisa who is more commonly known as Fibonacci filius Bonacci son of Bonacci lived from 1170 until 1250 Born in Pisa now in Italy he was raised and educated in what is now Algeria Considered one of the greatest mathematicians of the Middle Ages he introduced Arabic numerals and the Hindu Arabic decimal positional system into Europe Fibonacci is best known however for the series of numbers that arose from the following problem A certain man put a pair of rabbits in a place surrounded on all sides by a wall How many pairs of rabbits can be produced from that pair in a year if it is supposed that every month each pair begets a new pair which from the second month on becomes productive This problem yields the series of numbers O 1 1 2 3 5 8 13 21 34 55 which we call the Fibonacci Series Note that each term in the series is the sum of the two terms that precede it The Fibonacci Series is interesting by itself It has been studied extensively and has many manifestations some of which can be found in the study of price movements What technical analysts have found more interesting however is the ratio between successive terms of the series As the terms get larger the ratio between each new term and its predecessor gets closer and closer to 1 6180339887 which is usually shortened to 1 618 By the time the series reaches 55 the ratio is 1 618 There s no evidence that Fibonacci himself was aware o
5. 2002 2010 Omnium Software Inc Chart Overlay Help Chart Overlay Original Schiff GRIES When drawing Original Schiff 0 Median Lines you again choose AA de three alternating pivot points Trend Parallel Retrace n Pitchfork Time Text Refresh high low high or low high low Then ChartOverlay draws a line between B and C This time however ChartOverlay draws the Median Line from a point directly above A and at a price half way between A and B through the midpoint of line BC which also results in lines with a more gradual slope This was Schiff s original idea To switch to this style of Median Lines from any of the others simply select the item or point at it and type o A AAA ARA ma When drawing Inside or S ut Reverse Median Lines you again d K iit sr 2 YF Wi T amp choose three alternating pivot Trend Parallel Retrace Pitchfork Time Tet Refresh points high low high or low high low Then ChartOverlay draws a line between A and B not B and C And then ChartOverlay draws the Median Line from the midpoint of line AB through Point C This is a technique used by advanced traders under unusual circumstances and it should not be used without first mastering its theory To switch to this style of Median Lines from any of the others simply select the item or point at it and type i orr If you like to experiment you can manually p
6. If you check Don t Show this Dialog Every Time in a drawing tool dialog pressing the corresponding button will not bring up the dialog Your settings will remain the same as last time If you want to see the dialog hold down the ctrl key while pressing the button You can 2002 2010 Omnium Software Inc 13 Chart Overlay Help 1 6 5 1 6 6 also select an item of the type whose dialog you want to see and the Edit it button or menu you may have to draw one first When you open a drawing tool dialog and change its values those values remain in effect until you change them or until you restart the program If you check Make These Values the Startup Defaults the values you set will be saved when you Exit the program and they will be restored when you start it again Large and Small Dialogs More Options Fewer Options Each of the seven drawing tool buttons the seven at the left end of the Toolbar has two dialogs associated with it The larger version contains all options for the tool The smaller version contains only the most common options but it takes up much less screen space e The e The Fewer Options button in the larger dialog switches you to the smaller dialog More Options button in the smaller version switches you to the larger dialog Like most other dialogs in ChartOverlay the dialogs associated with the drawing tools remain where you put them Each time you move a dialog
7. to B then press the Extend button or choose either Fibonacci Extensions or Add Selected Extension Here from the menu Then draw the extension grid by clicking on the point C at which you want the extension to begin if you chose Add Selected Extension Here from the menu the point on which you clicked for the menu will be used to start the extension Point C 2002 2010 Omnium Software Inc Studies 36 Next is a method suggested by Fibonacci guru Rick West It bypasses the Retracement step and draws the Extension in one step To employ this method you must make the following setting e On the Fibonacci tab in the Options dialog be sure Allow Extensions Without Retracements is checked This setting will persist if you don t change it To draw a Fibonacci Extension e grid press the Extend button or choose either Fibonacci Extensions or Add Selected Extension Here from the menu Then draw the extension grid by clicking on points A B and Cin order if you chose Add Selected Extension Here from the menu the point on which you clicked for the menu will be used to start the drawing Point A 2002 2010 Omnium Software Inc 37 Chart Overlay Help This method allows you to draw your Retracement and Extension in a single operation Retracement Levels are drawn with negative values starting from the end of your move
8. e Time Cycles e Text e Copy or Save an image of your chart with the studies you added Copy your image to the Clipboard or Save it to a file e Save your work to a document and return to it later this allows you to work with several charts if you wish Dynamically modify anything you have drawn Remove unwanted lines from some objects e Adjust your studies to compensate for changes in the underlying chart such an new bars or a different scale e Arithmetic or Logarithmic scale e Different number formats both 1 618 and 1 618 are supported depending on how you have set your Regional and Language Options e Display price corresponding to cursor position e Check for updates ChartOverlay supports Windows 7 Vista and XP You are welcome to try it on earlier systems 2000 ME 98 95 and NT 4 0 but some limitations apply to systems earlier than XP and 2000 dynamic mode file formats Windows is a trademark of Microsoft Corporation TCNet Y is a trademark of Worden Bros Inc MetaStock is a trademark of Equis International 1 2 Examples The following examples were created using TCNet and StockCharts com as the background charting programs 2002 2010 Omnium Software Inc Chart Overlay Help The first example shows the use of some of the Fibonacci Studies see Fibonacci Price Retracements Fibonacci Arcs Fibonacci Fans and Fibonacci Time Extensions While this example looks a bit crowded at first it sh
9. Controls 30 3 1 Studies The following sections provide brief overviews of the various studies available in ChartOverlay These descriptions are very simplified and are only intended to show you how to access the various tools and their features They do not provide expert advice for using the tools to develop trading systems There are several books that give a much better explanation of the rules and guidelines for using these studies See disclaimer Trendlines Trendlines are commonly drawn by connecting two or more lows or two or more highs on a chart In a rising market most people will use lows while in a falling market highs are typically used Some analysts prefer to use only the highs and lows of bars while others use opens or closes or other values that ignore extremes in favor of other factors such as nearby support and resistance Because Trendlines that have several touches are generally considered to be stronger you may want to draw your Trendlines to maximize the number of touches Prices tend to respect Trendlines and to remain on one side of and move in the direction of a Trendline When a Trendline is broken you should look for other signs to indicate whether the trend may have changed See Disclaimer SC To start drawing a Trendline press the Trend button or choose Trendlines from the menu Once you have chosen the options you prefer draw the Trendline by drawing a line connecting two sig
10. Thus the longer your Calibration Line the more accurate your result but the more difficult it will be to draw the line An Alternate Method The Alternate Method is very similar to the Standard Method except that it does not employ the precision counting of bars Instead you let the data dictate what you draw and you do not worry about whether the intervals correspond precisely to bar widths As with the Standard Method you draw a Calibration Line but in this case Calibration Length is arbitrary bigger numbers are easier to work with experiment Once you have created your Calibration Line you then adjust its end point ctrl click the end point and drag it while watching where the Time Cycle lines are drawn as you make the adjustment Note that you can also ctrl click and drag the Calibration Line to move it and the Time Cycle lines together You can use this method to feel out the data while looking for cycles If it happens that the Calibration Line touches the two bars at similar points you can count the bars spanned by the Calibration Line and enter that value in the dialog to get accurate numbering Itis more likely however that the two bars will be touched at dissimilar points in which case the numeric labels attached to the cycle lines will be meaningless Display There are several points worth noting in the following example 2002 2010 Omnium Software Inc 45 Chart Overlay Help a gt
11. and or _ keys This is useful when new highs or lows are added at the right edge of the chart or dropped from the left edge The ctrl key can be used to increase this effect by an amount that you specify in the Options dialog Multiple Overlay Windows When ChartOverlay is already running and you click its icon that normally just makes ChartOverlay the active program If you check Allow Multiple Copies on the General tab in the Options dialog you will be able to run additional copies of ChartOverlay which means you can have multiple simultaneous overlay windows When you do this the first copy you start will be the Primary Copy Only the primary copy will have access to the Hot Key to hide or show the overlay and only the primary copy can save changes to your settings via the Options dialog or the individual tool dialogs We recommend caution when using this feature so that you do not overload your CPU or use too much memory Keeping each overlay window as small as possible should help International Number Formats Depending on the Format you have chosen on the Formats tab of the Regional and Language Options control panel ChartOverlay will display decimal numbers in the format you prefer as shown in the table below Decimal List Separator Separator It is very important that you either use one of the standard Language Country formats or you Customize a format very carefully A close look at the table above will show
12. every 21 bars or every 89 bars because all intervals in a Fixed Time Cycle item have the same size the ratio of any interval to its predecessor is 1 0 Fibonacci Time Cycles have increasing intervals where successive intervals are taken from the Fibonacci Sequence 1 1 2 3 5 8 13 As the following table shows from 8 onwards each new Fibonacci Time Cycle interval is approximately 1 6 times greater than its predecessor eventually settling at 1 618 It is this ratio not the individual interval sizes that is of interest for Fibonacci Time Cycles Line 1 2 3 4 5 6 7 8 9 10 11 Interval O 1 1 2 3 5 8 13 21 34 55 Distance o 1 2 4 y 12 20 33 54 88 143 Ratio 1 000 2 000 1 500 1 667 1 600 1 625 1 615 1 619 1 618 Line a simple sequence number Interval the number of bars between this line and its predecessor the Fibonacci sequence Distance the number of bars between this line and the first line the sum of the intervals Ratio this interval divided by its predecessor the Fibonacci ratio 2002 2010 Omnium Software Inc 43 Chart Overlay Help Drawing a Time Cycle Item Standard Method When you use the Standard Method you tell ChartOverlay to draw Time Cycle lines at certain intervals either Fixed or Fibonacci These intervals will be measured in Price Bars remember that each Price Bar actually represents both Time
13. 0 0 Di 0 236 0 382 05 n m i a9 d qaq 1 5 1 5 SCA 2 2 618 4 236 2 2 618 4 236 rie rie r gic e r al w le Custom Retracement Levels eg 0 5 0 236 1 784 2 2 236 Custom Extension Levels eg 0 5 0 236 1 784 2 2 236 2002 2010 Omnium Software Inc Dialogs 64 4 9 Set Price When you choose Set Price Here from the menu this dialog will appear Depending on whether you have already entered one price First Price or Second Price will be enabled Once two prices have been entered the price corresponding to the cursor will be displayed in the title bar amp Set Price When two prices have been set the price at the cursor will be displayed in the title bar Entes the price for the point just clicked First Price Second Price Cancel OK 4 10 Options The Options dialog allows you to modify several key elements of program behavior Each heading below corresponds to one of the tabs in the dialog window General 2002 2010 Omnium Software Inc 65 Chart Overlay Help Image Capture Hot Key Editing Colors Visibility General Toolbar Fibonacci Y Enable Crosshairs Je With Extensions Je With Cicle At Center With Dot in the Center Always On Top Only redraw cursor WI times per second Y Check For Updates During Startup Enable Debugging Log Allow Multiple Copies D
14. B and going back towards and perhaps past the beginning A Extension Levels are drawn with positive values starting from the end of your move B and going away from the beginning A To employ this method you must make the following setting e In the Fibonacci Retracements dialog be sure End of This Move is specified in the Extend From group at the bottom of the left column This setting will persist if you don t change it and if you have Make These Values the Startup Defaults in the Fibonacci Dialog To draw a Fibonacci Extension grid you simply draw a Retracement Press the Retrace button or choose Fibonacci Retracements from the menu Then draw the extension grid by drawing a line from A to B 2002 2010 Omnium Software Inc Studies 38 This method ignores the distinction between Retracements and Extensions It draws a series of Fibonacci Levels whose numbers start at O and grow in the same direction Except for O all numbers will be negative so you should ignore the minus signs To employ this method you must make the following setting e In the Fibonacci Retracements dialog be sure End of This Retracement is specified in the Extend From group at the bottom of the left column e In the Fibonacci Levels dialog check the o Retracement Level This setting will persist if you don t change it and if you have Make These Values the Startup Defaults in the Fib
15. Dr Andrews Tes Original Schiff Median Lines as defined by Jerome Schiff Inside or Reverse Median Lines These are examples of the different styles of Median Lines along with descriptions of how they are drawn 2002 2010 Omnium Software Inc Studies 40 gt Chart Overlay Standard Andrews A VE Trend Parallel Retrace Pitchfork T Ted G Refresh 9 Chart Overlay Modified Schiff AA e Trend Parallel Retrace Pitchfork When drawing Standard Andrews Median Lines you first choose three alternating pivot points high low high or low high low which are often labeled A B and C Then ChartOverlay draws a line between B and C Next ChartOverlay draws the Median Line from A through the midpoint of line BC To switch to this style of Median Lines from any of the others simply select the item or point at it and type a When drawing Modified Schiff Median Lines you again choose three alternating pivot points high low high or low high low Then ChartOverlay draws a line between B and C This time however ChartOverlay draws the Median Line from the midpoint of line AB through the midpoint of line BC which results in lines with a more gradual slope This is Dr Andrews variation of Schiff s original idea To switch to this style of Median Lines from any of the others simply select the item or point at it and type s or m
16. Help button on the toolbar e Choosing Help from the menu e Pressing the F1 key You can also obtain a hint or a tip simply by pointing at a toolbar button or an option in a dialog box Try this when you are in doubt about what something does and let us know if we can make these hints more useful Dynamic vs Static For newer versions of Windows Windows 2000 and later changes to the background window appear immediately This is possible because the newer versions of Windows support this capability directly This mode of operation is called dynamic mode See Options Visibility 2002 2010 Omnium Software Inc Getting Started 12 1 6 3 1 6 4 For earlier versions of Windows a static mode is provided In this mode the background is refreshed when you make certain changes such as moving the overlay or changing its size or editing or erasing an object or changing certain options You can force an update at any time such as when you change symbols or time frames or when new data is added to your chart To force an update simply press the Refresh button or select Refresh from the menu ChartOverlay automatically determines whether or not dynamic mode is supported when it starts up Because dynamic mode requires the system to do more work some users may experience slow operation such as a sticky cursor while in dynamic mode Although this is rare should you encounter it you might want to t
17. Using your Trendlines will be extended to the edges of the overlay window using the color specified by clicking the colored square on the right This option is ignored when you enable either Speed Resistance Lines or Gann Fans in 2002 2010 Omnium Software Inc Dialogs 48 those cases all lines are extended to the right but not the left If you check Draw Line Bisector a short line is drawn perpendicular to the Trendline midway between the two points you used to draw the Trendline Regardless of whether this item is checked the midpoint is indicated by a third circle when the line is selected Speed Resistance Lines If you check Enable Speed Resistance Lines will be drawn automatically when you draw a Trendline You can choose a Line Color and a Line Style in the same way that is described under Drawing Options above Speed Resistance Lines are normally drawn so that if a vertical line were drawn from the second point of the Trendline to the Price Level of the first point that vertical line would be divided into three equal parts If for some reason you want something different you can specify your own Levels A negative number will produce a line at a smaller angle than the Trendline which is how most people use Speed Resistance Lines a positive number will produce a line at a larger angle Gann Fan If you check Enable a Gann Fan will be drawn automatically when you draw a Trendline You can choose
18. a Line Color and a Line Style in the same way that is described under Drawing Options above W D Gann specified the angles at which the fan lines should be drawn and there is no option that allows you to change these angles Note that ChartOverlay does not draw at exactly the angles specified by Gann This is because it will be difficult or impossible for you to draw the primary Gann line 1 x 1 at precisely 45 degrees Instead you should draw what you consider to be the 1 x 1 line and the remaining lines will be drawn at the correct relative angles In effect this allows you to draw the Gann Fan on a chart for which the X and Y axes have a relationship other than 1 1 which is the circumstance you are most likely to encounter The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options 2002 2010 Omnium Software Inc 49 Chart Overlay Help 4 2 ES Trendline x ES More Options Cancel Drawing Options IW Line Color Line Style Wide DI Y Automatically Extend Using Fy M Draw Line Bisector Speed Resistance Lines M Enable IW Line Color Line Style Dotted X Levels 0 333 0 667 eg 0 333 0 667 Lieser greater Gann Fan FT Enable EN e Line Style Parallel Trendlines Behavior Options Y Leave Toolbar Button Depressed M Don t Show this Dialog Ever
19. overlap another for example for the first few Fibonacci Cycle Lines it is offset slightly below its normal position if a number would require a second offset line it is simply not displayed When there is more than one Time Cycle item on a chart each has its own row of labels or pair of rows as seen here When the space between two cycle lines for the same Time Cycle item is too small less than 10 pixels the newer line will be invisible even though its label may be visible This avoids crowding for the smaller intervals of a Fibonacci Time Cycle item Even though a line is not visible subsequent lines will be drawn as if the missing line were visible Note how often the lines of the two Fibonacci Time Cycle items overlap This occurs because the ratio between consecutive numbers in the Fibonacci sequence tends to be 2002 2010 Omnium Software Inc Studies 46 constant approximately 1 618 see table above Note that when using the Alternate Method when the Calibration Line is short as it is here it is difficult to exert precise control over the cycle lines to the right This is because moving the end of the Calibration Line by a single pixel may move lines further to the right be several pixels Using a longer line with a bigger length makes drawing easier experiment Example This example created by Don McCullar from Denton Texas while using StockCharts com is a simplified version of an ex
20. overlay and its background to the Clipboard from which it can be pasted into another application Always On Top makes the overlay remain on top of other windows even when you click in them or it turns this feature off 2002 2010 Omnium Software Inc Controls 26 Logarithmic Scaling turns Logarithmic Scaling on or off When Logarithmic Scaling is on equal vertical distances on a chart represent equal percentage changes in price When it is off scaling is Arithmetic equal vertical distances on a chart represent equal changes in price amount Logarithmic Scaling Crosshairs selects the crosshair style cursor Crosshairs Cross Cross selects the Cross cursor Arrow Arrow selects the Arrow cursor Help Help opens the Help dialog Options opens the Options dialog Options About About opens the About dialog that Rees provides information about ChartOverlay Check For Updates Register opens the Registration dialog so that you can enter or check your Registration Key Check For Updates consults the Omnium Software server and tells you whether a new version of ChartOverlay is available Exit terminates the program 2 3 Keyboard You can use the keyboard to modify some operations or to issue various commands or to modify items you have drawn e Modifier Keys e General Keyboard Commands e Editing Keys e Keys That Modify Trendlines e Keys That Modify Andre
21. this Help file If anything is unclear or if you find typos or other errors please let us know 1 13 Sticky Cursor A few users have reported that the cursor seems sticky that it doesn t move smoothly when they move the mouse This problem appears to be dependent on individual computers Some users who had the problem have reported that it went away after they upgraded to new hardware of course we are not recommending that you buy a new computer simply to cure a problem with one application One thing we do recommend if you re comfortable doing so is that you check with your computer manufacturer or with Microsoft for updated drivers Drivers run at a deep level of the operating system and can cause unusual problems if they are imperfect we once cured a screen blanking problem by upgrading a modem driver ChartOverlay relies on some advanced features of Windows 2000 and XP and a faulty driver could cause problems If updating your drivers does not help or if updating your drivers is not a viable option for you here are some other things you can try Each will make your computer do less work while you are moving the cursor Try them one at a time see Options dialog if necessary try combinations 1 Uncheck With Extensions 2 Uncheck Enable Crosshairs 3 Set Only redraw cursor to a lower number 4 Choose Translucent instead of Transparent AND check Translucent Toolbar and Translucent Lines 5 Choose Static mode least d
22. 2 V 1 272 1 786 Free Trial Please try ChartOverlay to see whether it meets your needs You can use a fully operational version for up to 14 days without having to send any money After you have used ChartOverlay for a few days you will begin to see the Registration dialog whenever you start the program To continue with your Free Trial simply click the Continue Free Trial button at the bottom of the dialog When you decide to keep the program you can register it This does NOT require that you install the program again Registration If you wish to continue using ChartOverlay beyond the Free Trial period you can purchase a license from Omnium Software When you purchase a license you will receive a Registration Key that you will enter using the Registration dialog This dialog appears automatically when you start the program or you can make it appear by right clicking in the overlay window and choosing Register from the menu that appears It is not necessary to reinstall the software Checking for New Versions You can now check for a newer version of ChartOverlay you can do this automatically or manually To have ChartOverlay check automatically each time you start it check Check for Updates During Startup on the General tab in the Options dialog To check manually you can either choose Check for Updates from the menu or you can click the Check for Updates button in the About dialog Storing Application Data Pr
23. AEEA CES Trend Parallel Retrace Extend Pitchfork Time Text Refresh Edi Erase ErAN Log Options Help About SPX 58P 500 Large Cop Index INOX d 89 jul 20 Ob b 0 WISEN Daily 1093 67 ee 4220 11212 dat iene ERE IT d N 287 1852 04 1160 ate no haag F 11315 1120 100 618 1411 47 E 11044 40 1040 21 282010 11 19 25 Feb 16 22 Mar 8 15 22 20Apr 12 19 Zi TCNet is a trademark of Worden Bros Inc StockCharts com is a trademark of StockCharts com Inc 1 3 Glossary of Terms When reading any sort of technical documentation it is a very good idea to understand how important words are being used Regardless of whether the usage of certain words is entirely correct knowing how they are used will benefit your understanding The following terms are used with specific meaning in this Help file and other documentation If you encounter a term that is unfamiliar or whose usage is potentially unclear check here for clarification If you encounter a confusing term and do not find it here please let us know at support omniumsoftware com so we can add it If you think we have chosen poorly let us know that 2002 2010 Omnium Software Inc Chart Overlay Help also Title Bar The top most part of the Window so named because it normally contains the window s title For example the title of this window is Chart Overlay Help When ChartOverlay is st
24. Chart Overlay Time Cycles olo di tet P P Lem Z xo O EI ei e Trend Retrace Pitchfork Time Tet Refresh Edit Erase Er All Log Options Help About SLU Daily ss 13 21 4 There are three examples of Time Cycle items in this chart e Blue Fibonacci Cycles drawn using the Standard Method with a Calibration Length of 12 Note that the Calibration Line ends at the cycle line labeled 5 This is because 1 1 2 3 5 12 the label numbers indicate the intervals the number of price bars between lines e Red Fibonacci Cycles drawn using the Alternate Method The length of the Calibration Line is not important e Cyan Fixed Cycles with a Calibration Length of 12 and a Cycle Length of 21 There is no relationship between the Calibration Length and the Cycle Length The Calibration Length tells ChartOverlay the length in bars of the Calibration Line and the Cycle Length tells it how many bars to count before drawing a cycle line The labels for Fibonacci Cycle Lines tell you the distance in bars between the line with the label and the line to its left some lines may be invisible as described below but they still affect where subsequent lines are drawn The labels for Fixed Cycle Lines tell you the distance in bars from the very first line Note that Time Cycle labels appear at the top of the window This is to prevent them from conflicting with the labels for Fibonacci Time Extensions When one of these numeric labels would
25. ChartOverlay remembers where you put it Saving Your Work There are two ways you can save your work e as an image that combines the background chart with the objects you have drawn this can be e in the Clipboard or e ina file e as a document that you can open and then restore at a later time Saving an Image To save an image to the Clipboard either e type ctrl C or e choose Copy Chart Picture to Clipboard from the menu Once you have done this you can simply paste your image into any other program To save an image to a file choose Save Chart Picture from the menu You can save your image in BMP JPG GIF or PNG format for Windows 95 only BMP format is supported e BMP can be read by most programs that read graphics but it is not compressed and will produce a large file e JPG uses a compression algorithm that loses information which means that your image will be slightly degraded e there are patent issues associated with GIF files so you may wish to avoid them e PNG is a new format that can be read by an increasing number of programs especially browsers It produces very compact files and avoids the problems mentioned for the other formats 2002 2010 Omnium Software Inc Getting Started 14 One sample that we tried yielded the following file sizes in bytes BMP 1 033 470 JPG 90 170 762 IF 59 784 PNG 56 Saving Your Work for Later If you re working with more than one cha
26. Dialogs There are several dialogs in ChartOverlay They are described in the following pages In any of the dialogs if you want to know about anything you see point at it and you will receive a brief description In many cases this will be all you need Each of the dialogs that controls one of the drawing tools has two versions The longer version contains all of the options available for that tool The shorter version contains only the more commonly used options but is typically much smaller so that it doesn t cover up so much of what you are doing The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options Trendlines This dialog allows you to specify the characteristics of any Trendlines you wish to draw It also lets you draw Speed Resistance Lines and Gann Fans To draw any of these lines simply click on one point and drag to another Each line you draw can be formatted independently Each heading below corresponds to one of the option groups in the larger dialog window Drawing Options You can select the Color of your Line by clicking on the colored square to the left of Line Color You can also change the Style used to draw the Line to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible using the drop down list to the right of Line Style If you check Automatically Extend
27. Lines by clicking on the colored square to the left of Line Color You can also change the Style used to draw the Median Lines to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible using the drop down list to the right of Line Style 2002 2010 Omnium Software Inc Dialogs 58 The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options J tie coio Andrews Line Types e Andrews Median Line a C Modified Schiff Median Line s or m C Original Schiff Median Line 0 Inside or Reverse Median Line i or 1 More Options Cancel Additional Lines Drawing Options M Lovel 1 Upper Normal z F Median Line Color V Level 1 Lower Line Style Wide 7 Level 2 Upper E Dashed y Fewer Options V Level 2 Lower reegen Additional Warning Lines Ze Andrews Median Line a Fa Dashed C Modified Schiff Median Line s ot m C Original Schiff Median Line o 0 5 0 5 Inside or Reverse Median Line i or 1 eg 0 5 0 236 1 784 2 2 236 above below You can convert an existing Pitchfork to a different style by selecting it and typing the conesponding letter IT Reaction Lines Dashed Behavior Options F Trigger Lines O Dotted D Y Leave Toolbar Button Depressed Don t Show this Dialog Every Time Pivot Zone E Dotted z 7 M
28. R aie IO bic A ee a keen Y ChartOverlay has a crosshair cursor that lets you make precise drawings If you check With Extensions the crosshairs will extend to the edges of the overlay window and you can use them to compare data at different points in the window If you prefer not to have crosshairs you can uncheck the With Extensions or the Enable Crosshairs option You can use the Menu to choose between a Cross and an Arrow if you prefer not to use crosshairs To make it easier to see the data over which you are trying to position the cursor you can replace the center of the crosshairs with a circle with a radius of 5 pixels With the circle enabled you can either sight along the lines of the crosshair to determine your position or you can request a dot in the center of the crosshairs The crosshairs are drawn by inverting the colors of the points in the background although this changes the colors of the background data it does not cover the data In order to keep cursor movement as smooth as possible the cursor is contracted when it is moving rapidly However when you slow down the crosshairs again extend to the edges of the window Choosing Always on Top will keep the overlay visible and on top of your chart even when you are working with the chart This can be helpful if you are changing symbols or time frames For example you might want to draw a Retracement or a Trendline for one symbol and then overlay that drawing on another
29. ake These Values the Startup Defaults Perser Tage a brit description of most tem in thi Dialog hold the mouse over the item without clicking A dragging the end of the handle up or down lows to define a pitchfork 2002 2010 Omnium Software Inc 59 Chart Overlay Help 4 6 Time Cycles Most of the studies provided by ChartOverlay deal with the Price axis These studies deal with the Time axis Each heading below corresponds to one of the option groups in the larger dialog window Drawing Options Choose either Fibonacci Time Cycles or Fixed Time Cycles Fibonacci Time Cycles are also called Fibonacci Time Zones With Fibonacci Time Cycles vertical lines will be drawn at increasing intervals These intervals are based on the Fibonacci Numbers Fixed Time Cycles will be drawn at regular intervals They are represented by semi circles Their size is specified in the edit box to the right of Fixed Because ChartOverlay cannot actually see the bars on the chart you are studying you must give it the information needed to draw the time cycles accurately This information has two key elements One element is the horizontal line you will draw This line will indicate two things the starting point for the cycles and a length The second element is the Calibration Length which tells ChartOverlay haw many bar widths are represented by the length of your line ChartOverlay will use this to calculate an a
30. ample presented in a previous section Note how the Fibonacci Time Cycles often coincide with reversals in the price chart The Calibration Line runs from 4 26 to 5 25 which represents 21 trading days not counting 4 26 itself Using this line in conjunction with a Calibration Length of 21 yields a series of lines at the distances indicated by the Fibonacci sequence 8 Chart Overlay 1059 10 0 163 dm spx 20100722a SIENTE Ze nit E a AE Z e n T o 72 x E v Trend P r llel Retrace Extend Pitchfork Time Text Refresh Edit Erase ErAll Log Options Help About SPX S8P 500 Large Cap Index INDX 258 13 21 34 SDstockChartscom 83 22 Jul 2010 dh 10p7 60 Lbw 1072 14 Diese 1093 67 Chg 24 08 226 4 M 5PX Daily 1093 67 M 21 282010 11 19 25 Feb 8 16 22 Mar 8 15 22 29Apr 12 19 2 D 4 4 21 eh 12 19 26 Aug 3 13 Text The Text drawing tool allows you to annotate any chart you are studying Each text item you create can have whatever text font style size and color you prefer 2002 2010 Omnium Software Inc 47 Chart Overlay Help 4 1 T To add Text to your chart press the Text button or choose Text from the menu Enter the Text you want to display and click the Format button to choose options Then use the mouse to create a rectangle to contain your text the bottom is ignored if the text will not fit in the rectangle you provide
31. and Price UI ui II Begin by pressing the Time button or by choosing Time Cycles from the menu Then choose either Fibonacci or Fixed in the dialog box that appears If you choose Fixed you must also specify the length of your interval ie the number of price bars in each cycle If you choose Fibonacci the interval sizes will be determined automatically by the Fibonacci Sequence Specify a Calibration Length see below Select any other options you would like such as Line Color and Line Style e Draw a Calibration Line in response to which ChartOverlay will draw the Cycle Lines Calibration Lines Because ChartOverlay cannot actually see the data in your underlying chart it cannot count bars unless you give it some help You can do this by drawing a Calibration Line that spans several bars on your chart and by entering the number of bars that were spanned the Calibration Length in the Time Cycle dialog ChartOverlay uses these two items the Calibration Length which is given in bars and the Calibration Line which can be measured in screen pixels to determine the width of a single bar including the space separating it from its neighbor This can be calculated by dividing the length of the Calibration Line by the Calibration Length Given the average width of a single bar plus spacing ChartOverlay can then determine the width of N bars This is analogous to measuring a picket fence by counting pickets It is important t
32. are semi circles drawn to intersect a line drawn from a low to a high or a high to a low at specified Fibonacci Levels The arcs are drawn from the second right most point Note that the arcs intersect the Trendline not a vertical line drawn from the second point Look for support and resistance as prices approach the arcs You may want to combine Fibonacci Arcs and Fibonacci Fans and to give special attention to the points at which the fan lines cross the arcs See Disclaimer To draw Fibonacci Arcs press the Retrace button or choose Fibonacci Retracements from the menu Choose the options you prefer Fibonacci Arcs must be enabled Then draw as you would for a Retracement 3 9 Fibonacci Time Extensions Fibonacci Time Extensions focus on the time axis rather than the price axis As with price extensions you start by drawing a line that describes a significant price movement The time extensions are a series of vertical lines drawn using the original movement as a base and specified Fibonacci Ratios to create the intervals Look for significant events at the vertical lines that indicate the time extensions See Disclaimer JS To draw Fibonacci Time Extensions press the Retrace button or choose Fibonacci Retracements from the menu Choose the options you prefer Fibonacci Time Extensions must be enabled Then draw as you would for a Retracement 3 10 Fibonacci Price Extensions A Fibonacci Price Extension is a resumption
33. arted the title bar will say Chart Overlay Untitled If you save your work or open a file the word Untitled will be replaced by the file name The Title Bar is also used to show additional information that depends on the type of object you have drawn and selected Window For our purposes a rectangular area on a computer screen within which an Application can display and accept information Common types of windows are Document Windows Dialog Windows or Dialog Boxes and Message Windows or Boxes A Window normally has a Title Bar at the top and a larger content area beneath which is surrounded by a border While it is true that more complex window styles are possible they are not relevant to ChartOverlay Menu A list of commands that appears when you click the mouse In many programs but not ChartOverlay there is a Menu Bar just below the Title Bar In ChartOverlay you access the menu by right clicking in the Drawing Area Toolbar A horizontal set of buttons that appears just below the Title Bar Each button represents a command The buttons on the left are called Drawing Buttons and each of them selects one of the Drawing Tools If you wish you can hide the toolbar Tool Button Any one of the buttons on the Toolbar Clicking on a Tool Button causes some action to be taken unless the button has been disabled because it is not currently relevant for example when nothing has been drawn the Erase button is disabled Some Tool B
34. aw the objects Image Capture Image Capture M Hide Title And Toolbar JPEG Quality f 30 mino A AA e hr a Checking Hide Title and Toolbar will leave the Title and Toolbar out of any images that you choose to save if the toolbar is hidden it won t appear in the image regardless of this setting If you choose this option only the drawing area of the overlay window will be saved JPEG Quality applies only when you choose to save images in the JPEG JPG format The JPEG format can increase compression by sacrificing a specified amount of quality GIF and PNG will give you better compression and do not sacrifice quality Choose a value between O and 100 Hot Key Hot Key Hot Key Hide Show Overlay Window Cul Ak F AAA TTT on The Hot Key allows you to hide or show the overlay window with a single keystroke combination This can be useful if you want to temporarily expose the window behind the 2002 2010 Omnium Software Inc 69 Chart Overlay Help overlay see Always On Top above If the overlay is hidden the Hot Key will make it appear If the overlay is the active window the Hot Key will hide it There is a third state in which the overlay is visible but another window is the one Windows considers active in this case pressing the Hot Key once will make the overlay Active pressing it again will make Hide the overlay ie you may have to press the Hot Key twice t
35. bout button in the tool bar or choose About from the menu Version gives the version number and the date on which the version was created You can use this to tell whether you have the latest version and you can provide this information to Omnium Support in the event you require assistance Register opens the Registration dialog so you can enter or check your Registration Key This option can also be accessed from the menu Check For Updates consults the Omnium Software server and tells you whether a new version of ChartOverlay is available This option can also be accessed from the menu Application Data opens the folder in which your Application Data is kept In previous 2002 2010 Omnium Software Inc 71 Chart Overlay Help versions of ChartOverlay and under older versions of Windows this information was written to the folder in which ChartOverlay itself was kept When Vista was released it forbade the use of that folder for user data and automatically put it in an obscure location with a long pathname Newer versions of ChartOverlay follow the new Windows guidelines for storing user data but that still involves a long and complicated pathname This button finds the data for you Support opens an eMail addressed to Omnium Support in case you need to contact us System Info opens a window that displays System Information should you need to review any of that Le 2002 2010 Omnium Soft
36. can be adjusted by Ctrl clicking and dragging them The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options ES Parallel Trendline a LC Line Color More Options Cancel 2002 2010 Omnium Software Inc 51 Chart Overlay Help 4 3 Parallel Trendline Drawing Options E Line Color Line Style Dashed Y Automatically Extend Action Reaction Lines Behavior Options e None Y Leave Toolbar Button Depressed One Reaction Line for each Action Line M Don t Show this Dialog Every Time C Many Reaction Lines for each Action Line Y Make These Values the Startup Defaults Fibonacci Retracements This dialog lets you specify the characteristics of the Fibonacci Lines you wish to draw Note that when you draw the line that defines the price movement you should start with the earlier date Each heading below corresponds to one of the option groups in the larger dialog window Prices There are three reasons for which you might want to enter Prices They are required for Logarithmic Scaling and for calculating an extension as a Percentage of the prior Retracement see Fibonacci Price Extensions under Dialogs for more information You may also want to have ChartOverlay calculate the prices associated with the Fibonacci Levels If you have already entered prices for another
37. cted item 2002 2010 Omnium Software Inc 67 Chart Overlay Help This option also applies to the parallel warning lines of an Andrews Pitchfork These options appear here rather than in the Fibonacci dialogs because they affect all Fibonacci objects you draw and even affect the way the dialogs and buttons work Visibility Visibility Crosshair Color Dynamic C Black Dak C White Light Static Refresh Delay 1 e Transparent Translucent PY A A T ge Crosshair Color Dynamic C Black Dark f taie C White Light Refresh Delay 1 E C Transparent Translucent Translucency Level J 182 FP O O O A pr These options control the appearance of the overlay window The choice between Dynamic and Static is made automatically when you first use ChartOverlay Dynamic requires a system feature that is only available for Windows 2000 and Windows XP For earlier versions of Windows Static is the only choice There are two principal differences between the two modes The advantage of Dynamic mode is that any changes in the background are immediately visible The disadvantage is that your system must do more work to support it If you find that you re having performance problems you might want to switch to Static mode When you run in static mode certain actions you take will refresh the background automatically eg moving or resizing the overlay erasing an obj
38. cts points of interest Extend Selects the Fibonacci Price Extension drawing tool If you wish you can connect the extension to the original impulse move to form a three wave drawing 2002 2010 Omnium Software Inc Controls 22 One common way to draw an extension is to simply click on the point from which the extension begins Pitchfork Selects the Andrews Pitchfork drawing tool This button also allows you to draw several complementary lines You draw the Pitchfork by simply clicking three pivots on the underlying chart Time Selects the Time Cycle drawing tool You can draw either Fibonacci cycles or fixed cycles You draw the cycles by drawing a line connecting a user specified number of bars on the underlying chart Text Selects the Text drawing tool You can use this tool to add formatted text to the overlay Refresh Clears the overlay and redraws all objects In Static mode eg for Windows NT 95 98 ME updates the background Edit Opens the dialog corresponding to the selected object so that you can modify its properties Erase Erases the selected object If you have started creating an object eg a Pitchfork or a free standing Extension the partial object will be erased You can also use the Delete key to erase the selected object or the object you are pointing at Er All Erases everything you have drawn on the overlay If you press this button by accident you can recover t
39. do Erase Hide Selected Item Show Hidden Items Ctrl N Ctrl O Ctrl S Save Chart Picture Copy Chart Picture to Clipboard Ctrl C Always On Top Erase Selected Item is equivalent to pressing the Erase button on the toolbar except that if you are pointing to an item it uses that instead of the one that was selected You can also use the Delete key If you have started creating an object eg a Pitchfork or a free standing Extension the partial object will be erased Erase All Items is equivalent to pressing the Er All button on the toolbar Erase Automatically when selected erases all previous lines whenever you draw a new line Undo Erase whatever you just erased Erase Selected or Erase All Hide Selected Item makes the selected item temporarily invisible If your drawing is cluttered you can use this command to simplify it Show Hidden Items makes all hidden items visible again New erases everything you have drawn and creates a new empty document Open erases everything you have drawn and replaces it with a document that you saved previously Save writes all of the objects you have drawn to a file in a format that can be reloaded later Save As asks for a file name and then writes all of the objects you have drawn to that file Save Chart Picture asks for a file name and then writes an image combining the overlay and its background Copy Chart Picture to Clipboard copies an image combining the
40. eadescaesncssatrencsseconasvencescseauteacesccesacesnadseaesocreacascesasssnedsoaeees 16 Fibonacci N mbetS iia EES ee 16 Free Thalia daba 18 Registration AAPP ee 18 Checking for New Versions cccceecesssseeeeeeeeeeeeeeeeesseneeeeeeaesenseeeeeasaaeeseeaeseaseeeeesseneeeeseaesensenees 18 Storing Application Data 2eersgieeeeedeeeSauee eeree eeged ecsectde lead 18 Get 6 GE 19 Gelee 20 A E UU TE 20 Controls 21 de Te ET 21 Mengt aa A Ee Ee 22 A eege ege 26 Studies 30 Jpendlneg 0000 a 30 Speed Resistance Lines nmmmincccnnnnnnnnrnanncrcrr rr 31 ET CT E EN Parallel Trendlies 0000 a 32 Action Reaction LINCS iii di di nad 32 2002 2010 Omnium Software Inc Contents ll on o 9 10 11 12 13 Part IV D d Oa P WN sch sch N O O Fibonacci Price RetracementS usnnsssssnnnunnunnunnunnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn nnne nnmnnn nnmnnn 33 FIDOMACCH E 33 elle 34 Fibonacci Time Extensions ooooocccccconcnnnnnnnnnn co ncccnccnrcnnnn nn 34 Fibonacci Price EXTENSIONS vic lt tececccivenasensnncneesoannnanancesennntesevetxeexeexeendeanann nnchsnnssnennacptecnennnensvecnacs 34 AE Le ikola e e EE A cosenenczcensand conapansnnnannnseececeendcastiethaedencaduscasanadenavenceaa 38 Time Cy Cl S iii 42 O Eege EE E 46 Dialogs 47 TQ NNN CS ege eege EE EE Ee 47 Parallel Trend line siccic ncevctestecneccseciestvensseassenssadsensceecheenceavedefedndcesseassuaannvenceepnuadcscoceechwana
41. ect or changing to or from logarithmic scaling Normally however you will need to use the Refresh button on the Toolbar 2002 2010 Omnium Software Inc Dialogs 68 In Static mode a brief delay is required for refreshing the background If you observe that the background is not being properly refreshed you may want to increase Refresh Delay which is specified in seconds This delay value will depend on the speed of your processor When you choose Transparent your overlay window will be clear and you will be able to see the background directly If you prefer Translucent the background of the overlay will be a little cloudy how much depend on your choice of Translucency Level You will be able to see through the overlay but the overlay background will also be visible If you choose this mode you will be able to specify whether you want a Translucent Toolbar or Translucent Lines If you make the Toolbar or the lines translucent you will be able to see through them but they will be fainter depending on Translucency Level In Translucent mode the background of the overlay window will always be translucent You can choose from one of four Crosshair Colors Black White Dark and Light Be warned that Black and White do not show up against black and white backgrounds respectively Light seems to be the most versatile choice We tried allowing arbitrary crosshair colors but that interfered with the colors used to dr
42. erases the selected object or the object pointed at Editing Keys These commands can be used to change the vertical scale of objects you have drawn Each time you press one of the expand compress keys the stretch factor is incremented or decremented by one unless you are also pressing the Ctrl key The stretch factor is then used as a percentage and each point is moved away from or towards the midline by that percentage This allows you to adjust to changes in the scale of the chart in the background If you simultaneously press the Ctrl key then the value you specify on the Editing tab of the Options dialog will be used as the increment or decrement default 5 You can also move objects around in the overlay window to correct for the addition or removal of price bars The objects are moved by one pixel each time you press an arrow key unless you simultaneously press the Ctrl key in which case the value you specify on the Editing tab of the Options dialog will be used default 5 You can also move an object by dragging it while pressing the Ctrl key or you can move all objects by dragging any object while pressing the Ctrl and Alt keys 2002 2010 Omnium Software Inc 29 Chart Overlay Help or Use either key to expand the vertical scale when the scale of the chart in the background changes or _ Use either key to compress the vertical scale when the scale of the chart in the background chang
43. es Use this key to move all objects on the overlay left one pixel more with Ctrl key can be used to move all objects on the overlay right one pixel more with Ctrl key can be used to move all objects on the overlay up one pixel more with Ctrl key can be used to move all objects on the overlay down one pixel more with Ctrl key Keys That Modify Trendlines These keys can be used when you have selected an existing Trendline or when you just point at it When you draw a Trendline the options you chose in the Trendline dialog will be applied Should you wish to change some of those options after you have drawn a Trendline simply type one of these characters See the Trendlines section in Dialogs for a discussion of these options Turn line extensions on or off to switch between a complete line and a line segment es Turn segment bisector on or off Turn Gann Angle lines on or off Turn Speed Resistance lines on or off Keys That Modify Andrews Median Lines Pitchforks These keys can be used when you have selected an existing Pitchfork or when you just point at it When you draw a Pitchfork it will be drawn in the style you chose in the Andrews dialog Should you wish to change the style after you have drawn a Pitchfork simply type one of these characters See the Andrews Pitchforks section in Studies for further discussion and for examples of the different styles 2002 2010 Omnium Software Inc
44. esirable 1 14 Disclaimer Nothing in this Help file or in the ChartOverlay program should be construed as offering financial advice or a recommendation to buy or sell any financial instrument ChartOverlay is simply a tool and you are responsible for determining how to make best use of it to achieve your own objectives Information in this Help file is intended to give a general idea of how the various studies are used so you can decide whether you want to seek additional information from other sources 2002 2010 Omnium Software Inc 21 Chart Overlay Help 2 1 Controls You can use the Toolbar the Menu or the Keyboard to control ChartOverlay Toolbar A toolbar at the top of the overlay window provides access to the most common options You can display the toolbar with text on each button AN E ANNO IZ Trend Parallel Retrace Extend Pitchfork Time Text Refresh Edit lk B e Erase Er All Log Options Help About or without text Omit the text if you want to save space see the Options dialog If you choose not to display the text you can obtain a hint about what any button does simply by pointing at it CRIED OS les l ZIT el If you notice that some toolbar buttons are disabled do not worry This is normal Some operations eg Parallel or Erase require that you have an existing object selected If you haven t drawn anything yet or if nothing is selected some bu
45. f he line that you drew and Second corresponds to the end When you specify First Second will be calculated automatically Fibonacci Options The Fibonacci Levels button lets you specify which Extension Levels you want to see You can choose standard levels or you can enter your own Choose Same Percentage if you want the extension to move by the same percentage as the original eg if you had a move from 15 to 20 and a pullback to 18 the end of the extension would be 24 representing a 33 move from 18 You need prices to choose this option Choose Same Delta if you want the extension to move by the same amount as the original eg if you had a move from 15 to 20 and a pullback to 18 the end of the extension would be 23 representing a 5 point move from 18 Drawing Options You can select the Color of your Lines by clicking on the colored square to the left of Lines To select the Color of your Numbers click on the colored square to the left of Numbers You can also change the Style used to draw lines to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible To change the style of the extension line use the drop down list to the right of Price Movement Line Style To change the style of the horizontal lines that ChartOverlay will draw to indicate the Fibonacci Levels use the drop down list to the right of Fibonacci Line Style If you are drawing several Fibonacci grids you may not want your horizo
46. f this however the earliest known reference was written by Pacioli in 1509 This number is the Golden Ratio It was used in the Great Pyramid at Gizeh in Minoan architecture and in the Parthenon It was extensively discussed by Euclid in his Elements A C B where he described it in terms of a line AB that is divided at Cin such a way that CB AC AC AB the line from your elbow A through your wrist C to your fingertips B is an example of such a line Another way to express this relationship is to say that the smaller line is to the larger what the larger is to the whole If we represent the length of CB by 1 and the length of AC by x we can write the above relationship as 1 x x x 1 or x 1 x 0r Xx X 1 0 for which the solutions are 1 5 2 and 1 5 2 or 1 618 and 0 618 To explore these ideas further look here If we write 1 618 as Y and we write term n of the Fibonacci Series as fa then the following series are Mos for A CS ge CS of Ge Lao 23038 os 00 25042306854 What the WF row of the table shows is that when you take ratios of non adjacent terms you still get Fibonacci ratios ie fa fa Note that for this series of ratios it is also true 2002 2010 Omnium Software Inc Getting Started 18 1 8 1 9 that each term is the sum of its two immediate predecessors Certain other numbers are also used D 2 5 38 2 1 5 20
47. fect of Movement and Compression Keys When moving all existing objects with the arrow keys see below moves by the amount specified in the Options dialog rather than by one pixel When expanding or compressing the vertical scale with the and keys see below does so by the amount specified in the Options dialog rather than by one percent Shift e Make Horizontal or Vertical Makes it easier to draw Trendlines or time cycle calibration lines that are Horizontal or Vertical Drags objects you have drawn or adjusts defining points either Horizontally or Vertically 2002 2010 Omnium Software Inc Controls 28 When dragging drag all objects as a group instead of dragging a single object When you are removing extra lines from a Fibonacci or Andrews Pitchfork object removes all lines of a particular type eg all Arc Extensions all Fan Retracements or all Andrews Warning Lines General Keyboard Commands These commands are not specific to any type of item you may have drawn Ctrl C Copies an image combining the overlay and its background to the Clipboard from which it can be pasted into another application Ctrl N New erases everything you have drawn and creates a new empty document Ctrl O Open erases everything you have drawn and replaces it with a document that you saved previously Ctrl S Save writes all of the objects you have drawn to a file in a format that can be reloaded later Delete
48. hat the Calibration Line begin and end on corresponding points on the first and last bar eg both leading edges or both trailing edges This ensures that the Calibration Line spans exactly N bars and N spaces In the following examples Calibration Lines A B and C are valid line D is not Note that each of lines A B and C begins and ends at the same relative position of its beginning and ending bars left edge center and right edge respectively If the beginning and ending bars have the same width as appears to be the case here then Lines A B and C will each have the same length which will correspond to the width of 12 bars and the width of 12 spaces Dividing the length of any of these three lines will yield the average width of one bar and one space Line D is invalid because it starts at the left edge of one bar and ends at the right edge of another it is not the same length as the other lines because it spans 13 bars and 12 spaces 2002 2010 Omnium Software Inc Studies 44 Er O Ona gt To understand why the Calibration Length should be greater than one consider the following example Suppose you are looking at a chart that is displaying 100 bars and suppose the width of your chart is 450 pixels Then each bar including the spacing between bars will occupy an average width of 4 5 pixels which means that most bars will be five pixels wide while about one in ten will be only four pixels wide
49. he erased information by choosing Undo Erase from the menu Log Toggles between Arithmetic and Logarithmic scaling Options Opens the Options dialog Help Opens this Help file About Opens the About dialog that provides information about ChartOverlay such as the version you are running 2 2 Menu If you right click anywhere in the overlay drawing area the menu shown below will appear This menu contains everything you will find on the toolbar plus a few additional items 2002 2010 Omnium Software Inc 23 Chart Overlay Help Trendlines Fibonacci Retracements Fibonacci Extensions Andrews Pitchforks Time Cycles Tod Set Price Here Draw Parallel Trendline Here Add Selected Extension Here Add 45 Degree Line Here Add 45 Degree Line Here Refresh 2002 2010 Omnium Software Inc Controls 24 Trendlines Fibonacci Retracements Fibonacci Extensions Andrews Pitchforks Time Cycles Text Set Price Here Draw Parallel Trendline Here Add Selected Extension Here Add 45 Degree Line Here Add 45 Degree Line Here Refresh Edit Selected Item Trendlines is equivalent to pressing the Trend button on the toolbar Fibonacci Retracements is equivalent to pressing the Retrace button on the toolbar Fibonacci Extensions is equivalent to pressing the Extend button on the toolbar Andrews Pitchforks is equivalent to pressing the Pitchf
50. her Note If you have drawn a Fibonacci Retracement and it is the selected item the title bar will display the current cursor position as a time price Retracement or Extension of the movement represented by the selected item where o O is the end of the move in other words for any point on your chart you can immediately see how much Time and Price will have Retraced or Extended your original move simply by pointing at it Try it Draw a Retracement line and then move the cursor around while watching the numbers displayed in the title bar at the top of the window Fibonacci Fans Fibonacci Fans are similar to Gann Fans and Speed Resistance Lines except that they use Fibonacci Levels to create the fan lines To create a Fibonacci Fan draw a line left to right between a significant low and high or high and low The fan lines will then be drawn so that they meet a vertical line drawn at the second point you chose at the Fibonacci Levels you specified 2002 2010 Omnium Software Inc Studies 34 As with the other fans the fan lines provide support or resistance and after a breach of one line you should look for support or resistance at the next one See Disclaimer e To draw a Fibonacci Fan press the Retrace button or choose Fibonacci Retracements from the menu Choose the options you prefer Fibonacci Fan must be enabled Then draw as you would for a Retracement 3 8 Fibonacci Arcs Fibonacci Arcs
51. ior to Windows Vista it was common for applications to store any data they wrote in the folder where the application itself resided unless the user directed otherwise Usually this would have been somewhere in the C Program Files folder Since the release of Vista Windows has discouraged applications from writing in C Program Files While this presents some short term inconvenience in the longer term it allows Windows to offer better security 2002 2010 Omnium Software Inc 19 Chart Overlay Help To have its way while still allowing older programs to run properly Vista put any files that normally would have been written to the Application folder inside C Program Files into a special location called Virtual Store To help users find these files without having to learn the lengthy new pathname Vista introduced a Compatibility Files link near the top of the list of Application folder files in Windows Explorer or Al de Program Files OmniumSoftware ChartOverlay p Searct P File Edit View Tools Help Name Date modified Type Size ChartOverlay exe 1 26 2009 1206 AM Application Version 2 0 9 and earlier of ChartOverlay stored data files in the Application folder or Virtual Store by default These would include Application Data ChartOverlay ini the file in which application settings options are stored ChartOverlayDBLog txt the file to which debugging inf
52. lable in your favorite program and it provides many options for these Studies You can use ChartOverlay in places where you might not otherwise have access to these Studies Studies ChartOverlay supports the following Studies Trendlines Speed Resistance Lines 2002 2010 Omnium Software Inc 11 Chart Overlay Help 1 5 2 1 6 1 6 1 1 6 2 Gann Fans Parallel Trendlines Action Reaction Lines Fibonacci Price Retracements Fibonacci Fans Fibonacci Arcs Fibonacci Time Extensions Fibonacci Price Extensions Andrews Pitchforks Time Cycles Text Places where you can use ChartOverlay Because ChartOverlay is an overlay and can be used everywhere it can be used in many hard to reach places e charting programs that don t have certain Studies e published newsletters that are fixed and can t be modified e Indicator windows in programs like TCNet or MetaStock e charts shared by other users as in TCNet e notes created by you or other users such as found in TCNet Key features Certain properties of ChartOverlay apply throughout the program These include e how ChartOverlay updates what you see in the background e how you see through the overlay e how you can change the way the program works e use of abbreviated dialogs e saving your results e changing what you have drawn Getting Help At any time you can make this Help file appear by doing any of the following e Clicking the
53. lick the Font button to choose the Font Style Size and Color you want 2002 2010 Omnium Software Inc 61 Chart Overlay Help 4 8 The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options Font Behavior Options I Leave Toolbar Button Depressed I Don t Show this Dialog Every Time Make These Values the Startup Defaults Fibonacci Levels Depending on which button you clicked to make this dialog appear it allows you to select the levels you wish to see for the various Fibonacci features Here are some examples both of which show both Retracements and Extensions More examples are available elsewhere 2002 2010 Omnium Software Inc Dialogs 62 Note the use of positive and negative numbers to distinguish between Retracements and Extensions e Because Retracement Levels represent a correction or retreat they are drawn with negative values starting from the end of your move B and going back towards and perhaps past the beginning A e Because Extension Levels represent a continuation or advance they are drawn with positive values starting either from the end of your move B or from the point designating the beginning of the Extension C and going away from the beginning A This dialog lets you s
54. lying those tools All of the tools provided by ChartOverlay are Visual Tools eg Trendlines Gann Fans Fibonacci Retracements as opposed to Numerical Tools eg Moving Averages Bollinger Bands Linear Regressions Although the tools we offer may do some calculations they are primarily based on drawing any calculations done are based on a small amount of numerical information that you provide or on points or lines you may specify not on the data used to plot any specific chart 2002 2010 Omnium Software Inc Getting Started 10 1 4 1 5 1 5 1 Don t Overlook There are several useful features of ChartOverlay that might escape your notice Here are a few by selecting Always On Top Options General you can keep the overlay on top of your charting program even while you are working with the charting program the Hot Key Options Hot Key allows you to temporarily Hide and then Restore ChartOverlay this is useful when you have it Always On Top but want it out of the way for awhile by default the Hot Key is ctrl alt F but you can change it in the Options dialog if you have drawn a Fibonacci Retracement and it is now selected the title bar will display the current cursor position as a time price Retracement or Extension of the movement represented by the selected object where lt 1 1 gt is the beginning and lt o o gt is the end of the move in other words for any point on your chart yo
55. m the first pivot through the midpoint of the second two pivots parallel lines are then drawn from the second two pivots Warning lines can be added parallel to the median line Andrews taught that prices would return to the median line about 80 of the time Prices also have a tendency to reverse at key warning lines P To start drawing an Andrews Pitchfork press the Pitchfork button or choose Andrews Pitchforks from the menu Once you have chosen the options you prefer draw the Pitchfork by clicking three points on the chart These three points should correspond to a low a high and a low or a high a low and a high and they should be clicked in order from left to right Sometimes a standard Pitchfork is too steep to be useful Jerome Schiff a friend and student of Andrews discovered that drawing such Pitchforks from a point on the original price bar that is midway between the first pivot and the second or third pivot 50 gives better results Dr Andrews later adopted and adapted this idea see examples below Three alternate styles of Median Lines Pitchforks are supported see examples below Should you want to use one of these styles you can either change the default style in the Pitchfork dialog or you can convert an existing Pitchfork by typing one of the letters in the table below after you have selected a Pitchfork or when you just point at it as Standard Andrews Median Lines Modified Schiff Median Lines as used by
56. n Levels A negative number will produce a line at a smaller angle than the Trendline which is how most people use Speed Resistance Lines a positive number will produce a line at a larger angle Gann Fans Gann Fans are based on the work of W D Gann who believed strongly in the use of geometric angles He considered a movement of one price unit for each time unit to be ideal On a chart for which these units have the same spacing vertical and horizontal this movement would follow a line drawn at a 45 degree angle Gann considered this 1 1 line to be primary line in the fan He also considered lines drawn at 1 8 1 4 1 3 1 2 2 3 4and 8 times the rate of the primary line to be significant Most charts do not have the spacing required to produce true Gann Angles However if you draw a line that represents equal changes in time and price units as you define those units the other lines drawn by ChartOverlay will have the rates of change defined by Gann 2002 2010 Omnium Software Inc Studies 32 The primary 1 1 line provides support in an uptrend and resistance in a downtrend If it is breached a major reversal may be occurring and the other lines in succession can be expected to offer support or resistance See Speed Resistance Lines and Fibonacci Fans which behave in a similar manner See Disclaimer va To draw a Gann Fan Lines you must draw a Trendline press the Tend button or choose Trendlines fr
57. name comes from These Fibonacci ratios occur often in nature as well as in the study of price movements The various Fibonacci Levels are somewhat like support resistance lines They act as targets and whether breached or honored they act as signals If Fibonacci Retracements are drawn for more than one price movement or for different time scales levels that are common to two or more different Retracements are believed to have greater significance regardless of whether they represent the same ratios Trendlines are commonly drawn by connecting two or more lows or two or more highs on a chart In a rising market most people will use lows while in a falling market highs are typically used Some analysts prefer to use only the highs and lows of bars while others use opens or closes or other values that ignore extremes and reflect a larger number of trades Because Trendlines that have several touches are generally considered to be stronger you may want to draw your Trendlines to maximize the number of touches See Disclaimer e To start drawing a Fibonacci Retracement grid press the Retrace button or choose Fibonacci Retracements from the menu Choose the options you prefer Fibonacci Levels must be enabled Then draw the Retracement grid by drawing a line connecting a high point and a low point on your chart You can draw from a high to a low or a low to a high but you should start from the earlier point the one to the left of the ot
58. nificant points on your chart The Trendline dialog offers you several options When you draw a Trendline the options you 2002 2010 Omnium Software Inc 31 Chart Overlay Help 3 2 3 3 have chosen there will be used If you wish to change any of these options after you have drawn a Trendline simply select the Trendline or point at it and type the appropriate letter Speed Resistance Lines Speed Resistance Lines are normally used to divide a price swing into three equal parts The first line is drawn like a Trendline except that it is drawn from the beginning of a price move to its end The other two lines start at the same point but rise fall at 1 3 and 2 3 respectively of the rate of the first line Prices should remain above below the 2 3 line If they breach that line they should move to the 1 3 line and find support resistance there See Gann Fans and Fibonacci Fans which behave in a similar manner See Disclaimer To draw Speed Resistance Lines you must draw a Trendline press the Trend button or choose Trendlines from the menu The Speed Resistance Lines are an option associated with Trendlines Speed Resistance Lines are normally drawn so that if a vertical line were drawn from the second point of the Trendline to the Price Level of the first point that vertical line would be divided into three equal parts If for some reason you want something different you can specify your ow
59. ntal Fibonacci Level lines to extend all the way across your chart If this is so you can specify a Fibonacci Line Length indicating the length in inches that you prefer Choose Left or Right to indicate at which end of the Fibonacci Level lines you want ChartOverlay to Draw Numbers or choose Neither if you don t want numbers Check Connect To Prior Move if you want to connect this Extension to the movement it is based on This creates a three wave line If you are drawing an extension near the right edge of your window you can save space by checking Draw Extensions Vertically If this option is not checked the extension line will be drawn parallel to the original move The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options 2002 2010 Omnium Software Inc Dialogs 56 More Options Fewer Options Fibonacci Extensions r Prices Automatically Calculate Prices Approx Specify Prices First 0 00 Second 0 00 Note Price information is required for Logarithmic Scaling Fibonacci Extensions Prices Drawing Options Automatically Calculate Prices y E Approx E Lines e Specify Prices Numbers First 0 00 Second 0 00 Note Price information is required for Logarithmic Scaling Fibonacci Options Draw Numbers On Left C Right Neither Fibonacci Levels
60. o Hide the overlay When you start ChartOverlay you may get a message that says Failed to register Hot Key Ctrl Alt F Hot key is already registered Please modify or delete the value in the Options dialog This is normal The message is telling you that another application that you use has already declared its intention to use the same Hot Key combination You can use this part of the Options dialog to choose a new combination that does not conflict In the worst case you may have to try more than one new combination To change the Hot Key place your cursor in the Hot Key edit box and press the key combination you want to use If you use a sequence that has already been claimed by another program it may be ignored or the associated action may take place Editing Editing Control Key Values Movement Arrow Keys Compression and Keys The text with the blue background provides a brief summary of some of the editing features of ChartOverlay The Control Key can be used to modify some of the editing functions If you are using the arrow keys to move the objects you have drawn up down left or right Movement Arrow Keys specifies how many pixels to move them for each keystroke If you are using the and keys to stretch or shrink the vertical scale of your objects adjust both the top and bottom of each object up or down Compression and Keys specifies how many pixels to adjust top and bottom for each key
61. o is written ChartOverlayDBLog prv txt the previous version of ChartOverlayDBLog txt ChartOverlayDBLog txt is cut off after 250 000 bytes and renamed to ChartOverlayDBLog prv txt ChartNotes the folder in which your work is saved if you use the Save command Images the folder in which your images are saved if you use the Save Chart Picture command Version 2 2 21 and later follows the conventions for Vista and later when storing Application Data Because the pathname for this folder is still rather long ChartOverlay provides an Application Data button in the About dialog This button will open the folder containing your application data Support If you encounter problems with ChartOverlay you can request assistance from support omniumsoftware com Clicking Support in the About dialog will also start a new eMail Please understand that we cannot see your computer screen All we know about the problem you are having is what you tell us Simply saying It doesn t work doesn t really tell us much and only delays our response to your problem 2002 2010 Omnium Software Inc Getting Started 20 It really helps if you can tell us e What you did in enough detail for us to repeat it here e What you expected as a result e What actually happened Sending us a screen shot is often very helpful as is telling us the exact wording of any error message you may have seen We also welcome comments on
62. object you can ask ChartOverlay to Automatically Calculate Prices Be careful however The calculated prices will be approximate This is because the points you can specify with the mouse are actually Pixels which have a width and a height Depending on the price scale at the right of your chart each pixel actually represents a range of prices While ChartOverlay does its best to 2002 2010 Omnium Software Inc Dialogs 52 figure out what you mean there is no guarantee that it will choose the correct price from among many possibilities You can also Specify Prices yourself the only choice if no price information is available yet In this case First corresponds to the beginning of the line that you drew and Second corresponds to the end Fibonacci Options The Fibonacci Levels button lets you specify which Retracement Levels you want to see You can choose standard levels or you can enter your own Choose End of this Move if you wish to see Fibonacci Levels tacked onto the end of this move If you choose this option the Fibonacci Levels button will let you specify Extension Levels as well as Retracement Levels Choose End of Retracement if you want to specify Fibonacci Extensions later in a separate operation In this case you will select a point below the end of this move as the starting point for calculating extensions Drawing Options You can select the Color of your Lines by clicking on the colored squa
63. of a prior move The potential Fibonacci Levels for an Extension are calculated by applying Fibonacci Ratios to the extent of the prior move using either the difference in prices for that move or the percentage by which the price changed According to Robert Prechter a leading exponent of the Elliott Wave Principle price extensions are more reliable than price Retracements when applied correctly 2002 2010 Omnium Software Inc 35 Chart Overlay Help Price extensions can be used to set price targets and to assess the strength of a trend See Disclaimer Because there are a number of techniques for drawing Extensions ChartOverlay provides several options to make it easier to get what you want The following table explains several methods This method requires that you first draw or select a Retracement and then click a point indicating where you expect the Extension to begin To employ this method you must make the following settings e On the Fibonacci tab in the Options dialog be sure Allow Extensions Without Retracements is NOT checked e In the Fibonacci Retracements dialog be sure End of Retracement is specified in the Extend From group at the bottom of the left column These settings will persist if you don t change them and if you have Make These Values the Startup Defaults in the Fibonacci Dialog To draw a Fibonacci Extension grid first draw a Retracement A e
64. om the menu Gann Fans are an option associated with Trendlines 3 4 Parallel Trendlines There are many circumstances in which you may wish to draw lines Parallel to a Trendline One example is a price channel Another is Action Reaction Lines See Disclaimer Z To start drawing a Parallel Trendline press the Parallel button or choose Draw Parallel Trendline Here from the menu Once you have chosen the options you prefer draw the parallel Trendline by clicking on any point through which you want the line to pass if you use the menu the point on which you clicked for the menu will be used to draw the line If the line to which you are adding a Parallel is a Pitchfork the new Parallel will be drawn as a Warning Line unless you have chosen Automatically Extend in the Parallel dialog 3 5 Action Reaction Lines Action Reaction Lines are based on the work of Alan Andrews see also Andrews Pitchforks who taught his methods in the 1960s and 1970s after he retired from trading Much of his work was based on the earlier work of Roger Babson Action Reaction Lines are based loosely on Newton s Third Law of Motion A significant price swing is chosen and a Center Line or Trendline is drawn Then a parallel line Action Line is drawn through a preceding pivot and a matching Reaction line is drawn at an equal distance from the Center Line This can be done for several pivots An alternate method is to draw one Action Line and then dra
65. onacci Dialog To draw a Fibonacci grid you simply draw a Retracement Press e the Retrace button or choose Fibonacci Retracements from the menu Then draw the grid by drawing a line from A to B Note that A and B are reversed for this method so that 0 will be the level at which the move began in other words in this case we begin drawing at the end of the move and end at the beginning 3 11 Andrews Pitchforks Andrews Pitchforks are based on the work of Alan Andrews who taught his methods in the 1960s and 1970s after he retired from trading Those interested in learning more about Dr Andrews techniques may wish to visit MarketGeometry com where they will find an abundance of excellent free and premium information presented by Timothy Morge a long term professional trader or they may wish to consult his book Trading With Median Lines which offers an excellent detailed 2002 2010 Omnium Software Inc 39 Chart Overlay Help discussion Another long term user of Dr Andrews techniques Gordon DeRoos at PitchforkPrimer com offers both a well regarded course and a fine book Trading With the Pitchfork Patrick Mikula has also written a good book describing Dr Andrews methods and some ideas of his own The Best Trendline Methods of Alan Andrews and Five New Trendline Techniques Pitchforks are drawn based on three pivot points high low high or low high low A median line is drawn fro
66. ork button on the toolbar Time Cycles is equivalent to pressing the Time button on the toolbar Text is equivalent to pressing the Text button on the toolbar Set Price Here lets you specify the price corresponding to a point on your chart Once you do this for two prices ChartOverlay will display the corresponding price in the title bar top of the window when you move the cursor Draw Parallel Trendline Here is equivalent to pressing the Parallel button on the toolbar except that it uses the point you clicked to make the drawing When the selected item is a Pitchfork the new parallel will be drawn as a Warning Line unless you have chosen Automatically Extend in the Parallel dialog Add Selected Extension Here is equivalent to pressing the Extend button on the toolbar except that it uses the point you clicked to make the drawing Add 45 Degree Line Here draws a 45 line through the point you clicked Add 45 Degree Line Here draws a 45 line through the point you clicked Refresh clears the overlay and redraws all objects in Static mode eg for Windows NT 95 98 ME updates the background Edit Selected Item is equivalent to pressing the Edit button on the toolbar except that if you are pointing to a item it uses that instead of the one that was selected 2002 2010 Omnium Software Inc 25 Chart Overlay Help Erase Selected Item Erase All Items Erase Automatically Un
67. ows how two sets of Fibonacci studies can complement each other Note how the price follows the yellow 618 fan line in mid 2002 while the 5 magenta fan line follows along just below the prices Note too how price plunges where the 5 magenta fan line crosses the 5 yellow arc and the 5 yellow time extension line The 5 yellow and 382 Retracement levels also run through this area Price plunges again when the 618 magenta fan line crosses the 382 magenta arc the 5 magenta Retracement line and the 618 time extension line Note also how price holds briefly at the 382 magenta arc which is supported by the 618 yellow arc Note that if we used a slightly later pivot as the start of the magenta move the magenta and yellow arcs would have reinforced each other more strongly you can confirm this by using ChartOverlay on this image to perform the alternate analysis DxY 0 US Dollar Index Y A Hha XT 7 Y 11206 AFR 71056 y A A E OEP FOR FF BE NOE FA MO T a P 3 105 44 270 ra Me Nee 00 87 Y LS fF ER 54 S LO Je GA is 98 43 A A A A ZE APR FO ged ram RiT 88 76 6H i 82 86 oF 8 F 97 65 E l 2002 2010 Omnium Software Inc Getting Started 6 The second example was contributed by kmack a TCNet user It shows how you might use Action Reaction Lines the blue dotted lines perpendicular to the solid green lines with an Andrews Pitchfork the solid green line
68. pecify as many levels as you might want In any specific case however many of those levels will be irrelevant to you If you have checked Remove Fibonacci Levels by Ctrl Checking on Them on the Fibonacci tab of the Options dialog you can easily remove unwanted levels for a Retracement or Extension you have drawn by holding down the Ctrl key and clicking on the lines you do not want Each heading below corresponds to one of the option groups in the larger dialog window Retracement 2002 2010 Omnium Software Inc 63 Chart Overlay Help This section allows you to select any of several standard Fibonacci Retracement levels for the type of lines you wish to draw simple Retracements Fibonacci Fans or Fibonacci Arcs Extension This section allows you to select any of several standard Fibonacci Extension levels for the type of lines you wish to draw simple price extensions simple time extensions Fibonacci Fans or Fibonacci Arcs Custom Retracement Levels If you want a Retracement Level that doesn t appear in the list above you can add it here Retracement numbers should be negative If you want more than one number separate them with commas Custom Extension Levels If you want an Extension Level that doesn t appear in the list above you can add it here Extension numbers should be positive If you want more than one number separate them with commas Fibonacci Levels Retracement Extension
69. rawing Options above to select Price and Color and Use Fibonacci Options above to select Levels The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options F Fibonacci Retracements x Prices C Automatically Calculate Prices Approx Ze Specify Prices First 0 00 Second 000 Note Price information is required for Logarithmic Scaling EE More Options co Cancel a E 2002 2010 Omnium Software Inc Dialogs 54 4 4 M Fibonacci Retracements Drawing Options G Specify Prices ia e Fewer Options First 0 00 Enable Second 0 00 Price Movement Line Style Wide lt Note Price information is required for Logarithmic Scaling Fibonacci Line Style Normal y jw Fibonacci Levels I Fibonacci Fan Fibonacci Line Length Inches EG l Fibonacci Arce E Fibonacci Time Extensions Fibonacci Options Draw Numbers On Left C Right Neither Fibonacci Levels Fan and Arc Options Extend From Kl Fan Color Style Dashed D End of This Move e End of Retracement Ei Arc Color Style Normal Behavior Options Y Leave Toolbar Button Depressed Ei Time Color Style Dashed D Don t Show this Dialog Every Time Fibonacci Levels Y Make These Values the Startup Defaults Fans Arcs Time Fibonacci Price Extensions There a
70. re several ways to draw Fibonacci Price Extensions see Fibonacci Price Extensions under Studies for more information Based on parameters you specify ChartOverlay will draw a parallel line corresponding to a 1 0 Extension of the first move It will also draw the Extension Levels you request Each heading below corresponds to one of the option groups in the larger dialog window Prices There are three reasons for which you might want to enter Prices They are required for Logarithmic Scaling and for calculating an extension as a Percentage of the prior Retracement see below You may also want to have ChartOverlay calculate the prices associated with the Fibonacci Levels If you have already entered prices for another object you can ask ChartOverlay to Automatically Calculate Prices Be careful however The calculated prices will be approximate This is because the points you can specify with the mouse are actually Pixels which have a width and a height Depending on the price scale at the right of your chart each pixel actually represents a range of prices While ChartOverlay does its best to 2002 2010 Omnium Software Inc 55 Chart Overlay Help figure out what you mean there is no guarantee that it will choose the correct price from among many possibilities You can also Specify Prices yourself the only choice if no price information is available yet In this case First corresponds to the beginning o
71. re to the left of Lines To select the Color of your Numbers click on the colored square to the left of Numbers You can also change the Style used to draw lines to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible To change the style of the line that you draw use the drop down list to the right of Price Movement Line Style To change the style of the horizontal lines that ChartOverlay will draw to indicate the Fibonacci Levels use the drop down list to the right of Fibonacci Line Style If you are drawing several Fibonacci grids you may not want your horizontal Fibonacci Level lines to extend all the way across your chart If this is so you can specify a Fibonacci Line Length indicating the length in inches that you prefer Choose Left or Right to indicate at which end of the Fibonacci Level lines you want ChartOverlay to Draw Numbers or choose Neither if you don t want numbers Enable You can ask ChartOverlay to draw any combination of four types of Fibonacci Lines based upon the time price movement that you drew e Fibonacci Price Retracements e Fibonacci Fans e Fibonacci Arcs e Fibonacci Time Extensions Fan and Arc Options For each of the Fan Arc and Price studies you can choose a Color and a Style You can 2002 2010 Omnium Software Inc 53 Chart Overlay Help also choose the Fibonacci Levels you want for that study For Price Retracements use D
72. roduce your own variation of the standard Pitchfork To do this simply ctrl click on point A and drag it to a new position As you drag point A a number will be displayed in the title bar at the very top of the overlay window 2002 2010 Omnium Software Inc Studies 42 This number tells you where A now lies as fraction of the difference in price between A and B The Standard style is always at 1 00 and the Schiff styles are always at 0 50 but you are free to choose any value you like and also to choose the horizontal position you prefer You can use this technique to feel out the data and see where you get the best fit See Disclaimer 3 12 Time Cycles You can use Time Cycle studies to identify patterns in the time element of price bars In the more common types of chart such as Candlestick and OHLC price bars display information about both time and price Each bar displays the important prices that occurred during a specific time period such as a day a week a month an hour five minutes fifteen minutes etc When significant changes in price occur at regular intervals Time Cycles provide a way to study that phenomenon especially when a market has been seen to follow more than one cycle and when multiple cycles indicate significant events at about the same time See Disclaimer Fibonacci vs Fixed ChartOverlay lets you explore two varieties of Time Cycles Fixed Time Cycles have fixed intervals eg
73. rt different symbols different time frames different dates etc the following commands from the menu will be of use e New clears the overlay and creates an Untitled document e Open opens a previously saved document e Save saves the current document if it has a name if not Save acts like Save As e Save As asks for you to choose a name and location and saves the current document there The name of the file used in the last New Open Save or Save As command will appear in the title bar at the top of the window 1 6 7 Changing What You ve Drawn ChartOverlay s extensive editing features allow you to fine tune your Studies to better explore your ideas Once you have placed an item on the overlay you have several ways to change it e Edit its properties e Adjust its defining points e Adjust secondary lines e Remove extra secondary lines e Drag it to another position e Move it with the arrow keys e Adjust all objects together to compensate for changes in the price scale You can select the item and then press the Edit button on the toolbar or choose Edit Selected Item from the menu This will bring up the appropriate dialog which will allow you to change any of the options color style etc Each item is defined by one or more points that you specified by clicking or by clicking and dragging When you point at an item or when it is selected these points will be indicated by small circles If you Ctrl click on one of these circle
74. ry e using translucency with translucent lines or e using static mode Transparent vs Translucent ChartOverlay supports both transparent and translucent modes See Options Visibility In transparent mode the overlay is like clear glass You can see the background clearly and the objects you draw look pretty much like the indicators and studies in the background window In translucent mode the overlay is opaque You can see through it but you can also see it You can control the degree of translucency through the Options dialog You can also control whether the toolbar and the objects you draw on the overlay are translucent Customizing Toolbar Button Behavior For each of the seven toolbar buttons that select drawing tools the seven on the left you can control e whether the tool remains selected after you use it e whether the dialog appears each time you press the button and e whether the changes you make will become the defaults the next time you run ChartOverlay If you choose Leave Toolbar Button Depressed in a drawing tool dialog you will remain in the selected mode after you draw an object of that type The toolbar button will remain in the down position If you do not check this item you will need to press one of the drawing tool buttons each time you want to draw something This feature is useful when you want to draw several items of the same type Pressing any other drawing tool button will pop the current button up
75. s Note how price reacts to or follows the Action Reaction Lines Note also how price reacts when it encounters an intersection and how it follows the green Median lines INDX X Nasdaq TOD Inde F7 Simple v Edit D 1128 41 1135 49 y N A NA 2002 2010 Omnium Software Inc Chart Overlay Help The third example shows two overlapping Pitchforks The solid green Pitchfork is a normal one The dotted green Pitchfork is obtained by moving the initial pivot down half the vertical distance between the first two pivots Doing this creates additional lines and intersections that appear to mark significant changes in the behavior of Price This study was actually first drawn two bars earlier it had to be redrawn for editorial reasons Eg Chart Overlay AZO 0606a Pitchforks E 10 x A NIE ra S O Re j SE EN 2002 2010 Omnium Software Inc Getting Started 8 The fourth example was contributed by Don McCullar from Denton Texas who used StockCharts com It illustrates the use of Fibonacci Time Cycles magenta in conjunction with a Fibonacci Retracement blue and Fibonacci Time Extension blue Note how the Fibonacci Time Cycles often coincide with reversals in the price chart Note too how the 21 34 and 55 lines coincide with the 0 382 0 618 and 1 lines g Chart Overlay 1067 63 0 165 ain rita mm if Go t i T SdE
76. s and drag it you will redefine the object This may be a small correction as when adjusting a Trendline or a Retracement or it may be a significant change as when repositioning a pitchfork Some objects such as Pitchforks and Parallel Trendlines have secondary lines eg Warning Lines or Action Reaction Lines that can be adjusted Simply Ctrl click on the secondary line and drag it If you have checked Remove Fibonacci Levels by Ctrl Checking on Them on the 2002 2010 Omnium Software Inc 15 Chart Overlay Help 1 6 8 1 6 9 Fibonacci tab of the Options dialog you can easily remove unwanted extra levels for a Retracement or Extension you have drawn This option also applies to extra Warning Lines for Andrews Pitchforks To remove a line hold down the Ctrl key and click on it To Remove All lines of the same type hold down the Alt key also Any object can be repositioned by Ctrl clicking and dragging it All objects together can be repositioned by using the arrow keys if the ctrl key is held down the object will be moved by an amount that you specify in the Options dialog This is useful when new bars are added to the right edge of the chart All objects can be moved as a group if you hold down the alt key and click and drag on any one of them This is useful when new bars are added to the right edge of the chart All objects as a group can be expanded or compressed vertically by using the or
77. stroke If the ctrl key is not pressed a value of one is used Colors 2002 2010 Omnium Software Inc Dialogs 70 4 11 Choose Colors to be Used in Sequence When Drawing i Mp The first item drawn on an empty overlay will be assigned the first color Each additional item will be assigned a new color from the list If nine or more tems are drawn assignment will start over from the left Enable Color Sequence FO AAA AP N Although ChartOverlay gives you a lot of control over the colors schemes for various objects this may not be sufficient when you draw several objects of the same type eg Retracements or Pitchforks In such cases it may be confusing to have several similarly colored objects overlapping one another If you check Enable Color Sequence ChartOverlay will instead select in order one of the colors specified on this tab for each object you have added to the overlay All lines in a single object will have the same color but different objects will have different colors Text objects are not affected by this option nor are Trendlines or Parallel Trendlines unless their Speed Resistance Gann or Action Reaction options are selected You can change any of the colors in the sequence by clicking on it and selecting a new color from the menu that pops up About The About dialog provides version information and access to some other features To open About it either click on the A
78. symbol If the overlay is in the way eg if you want to click on something behind the overlay you can hide it temporarily using the Hot Key see below The Check For Updates During Startup option allows you to request that ChartOverlay interrogate the Omnium Software web site each time you start the program If this item is checked you will be notified when a new version is available A very small number of users have reported a sticky cursor meaning that the cursor lags behind their mouse or trackpad motions This may be caused by an out of date driver check 2002 2010 Omnium Software Inc Dialogs 66 you manufacturer s website for updates If you experience this try unchecking the With Extensions option or the Enable Crosshairs option You can also adjust Only redraw cursor O times per second if a value other than zero is used the rate at which the cursor is redrawn will be reduced giving your processor a better chance to keep up try a value of 10 or 20 Another possibility is to modify the Visibility options below Enable Debugging Log should be left unchecked unless you have experienced program crashes or unless you have been asked by Omnium Software Support to turn it on Checking Allow Multiple Copies makes it possible to have more than one overlay window Toolbar i M Text on Buttons Hide Toolbar E O O A pr Text on Buttons puts a small text label on each Toolbar bu
79. to 30 and suppose the price area of your chart is 5 inches high Suppose also that your computer screen can display 100 pixels per inch That would mean that your chart would have 500 5 x 100 pixels in which to display 2000 cents 20 or one pixel for each 4 cents of range Thus when ChartOverlay reads your cursor s location from the screen it can only determine price to within a 4 cent range that is to within 2 cents it doesn t know which of four possible values is correct Because of this when ChartOverlay displays a price it also displays error to remind you that each pixel in your chart is normally associated with a range of prices due to the scaling done by your charting program 1 7 Fibonacci Numbers Both the Fibonacci Number Series and the Golden Ratio occur frequently in nature Although these ideas were developed independently and in different millennia they are related by the fact that as the series grows the ratio between successive numbers gets closer and closer to the Golden Ratio Both phenomena especially the Golden Ratio can also be seen frequently in the movement of security prices which is why we are interested in them This section provide a brief account of where these numbers come from Feel free to skip it if you don t care for mathematics However if you want to know a little bit about these ubiquitous numbers give it a try 2002 2010 Omnium Software Inc 17 Chart Overlay Help
80. tton making it easier to recognize Having this text makes the toolbar wider and taller however so you may wish to turn it off to save space If you do not have the text visible you can point at any of the buttons briefly to get a popup window with a brief description of what the button does Hide Toolbar makes the toolbar completely invisible making more of the background window visible If you choose to hide the toolbar you can use the right click Menu to access any of the toolbar functions Fibonacci M Allow Extensions Without Retracements l Remove Fibonacci Levels by Ctrl Clicking on Them an Pe a e If you check Allow Extensions Without Retracements you do not need to draw or select a Retracement before you can draw an Extension Instead the Extend button is always enabled and you can draw a Retracement Extension pair simply by placing three points on the overlay The first two points represent an initial move the third represents a Retracement Correction of that move A more complete description is available here If you have requested more Fibonacci levels than you actually need you can easily remove unwanted levels for a Retracement or Extension you have drawn by holding down the Ctrl key and clicking on them if you have checked the Remove Fibonacci Levels by Ctrl Checking on Them option here If you also hold down the Alt key ChartOverlay will remove all Retracement or Extension levels for the sele
81. ttons will be disabled You can also Hide the Toolbar altogether see the Options dialog If you do hide the toolbar all of its functions can be accessed through the right click menu The seven buttons on the left Trend Text are drawing tool buttons e One of these buttons must be depressed before you can draw on the overlay e Unless you specify otherwise pressing any of these buttons will bring up a dialog that lets you choose the properties of the object you wish to draw e Each of these dialogs actually has two forms a long form that displays all options and a short form that saves space by displaying only the most common options e You can also choose whether a drawing tool button pops up after you use it or remains depressed which allows you to keep drawing objects of the same type Trend Selects the Trendline drawing tool This button also allows you to draw Speed Resistance Lines You draw the Trendline by simply drawing a line on the underlaying chart that connects points of interest Parallel Selects the Parallel Trendline drawing tool This button also allows you to draw Action Reaction Lines You draw these lines by simply clicking a point of interest on the underlying chart Retrace Selects the Fibonacci Price Retracement drawing tool This button also allows you to draw Fibonacci Arcs Fibonacci Fans and Fibonacci Time Extensions You draw these lines by simply drawing a line on the underlying chart that conne
82. u can immediately see how much of a Retracement or Extension it would be simply by pointing at it you can hide the text on the toolbar Options Toolbar to make it smaller you can hide the toolbar Options Toolbar altogether and use the menu instead you can save what you re working on and open it later this is helpful when you re working on more than one symbol or timeframe you can save an image of your analysis and share it with others the overlay and the underlying chart are blended e if you accidentally erase everything you can undo it both logarithmic and arithmetic scaling are available logarithmic requires that you enter price information if any object you have drawn contains price information that information is available to other objects e after you ve drawn an object you can still change its properties e you can change the shape of the objects you have drawn you can change the position of the objects you have drawn individually or as a group you can specify individually the color s of the objects you draw or you can have colors you choose assigned automatically Options Colors in some cases eg Action Reaction Lines Andrews Pitchforks you can move some of the secondary lines that are drawn this allows additional fine tuning of what you have drawn How can ChartOverlay help There are two broad areas where ChartOverlay can help you in your trading ChartOverlay adds several Studies that might not be avai
83. ussieetens 49 Fibonacci REWACEMEMNUS sieneen eean aa anaa a a aeaa maama aA ae a PAA Ee a naaa a ai aa naaa aaan AEA aaa 51 Fibonacci Price Extensions cocorniorancnaianinaniananinnian dadas entidad ein 54 Andr ws PIECOTORKS ioiei EES EES 56 Time e 59 O E e E E E A E A E E E E E E E A 60 elle EI WE 61 Sa e ee eege gece 64 OPTIONS unn da 64 de CG 70 Registration ee AANEREN tii 72 Index 0 2002 2010 Omnium Software Inc Chart Overlay Help 1 1 Getting Started ChartOverlay is an unusual program The information in this section will give you an overview of how it works and help you make the most of its features ChartOverlay has a transparent window that you actually place on top of another window When you do this you can see the second window through the overlay and you can draw on the overlay based on what you see underneath ChartOverlay works with pretty much any other Windows program that displays charts we haven t yet found a program that does not work This means you can use it with Real Time or End of Day charting programs web browsers spreadsheets even PDF files and eMail FibOverlay is the more basic of the two As its name suggests it allows you to add a Fibonacci Retracement capability to any price chart It only does retracements and it only does one at a time it s very basic ChartOverlay does all that FibOverlay does and much more With it you can draw Fibonacci Retracements and E
84. uttons remain depressed until you click them again or until you click another button Drawing Button Any one of the seven left most buttons on the Toolbar Clicking any enabled button selects the corresponding Drawing Tool and deselects any other that may have been selected At your option clicking a Drawing Button will also open a Dialog Window that lets you choose options associated with its drawing tool In some cases a Drawing Button may support more than one Study and Dialog Window or Box Any ChartOverlay window other than the main Overlay window Drawing Area The area inside the borders of the Overlay window and below the toolbar Item Item is often used as a synonym for object Sometimes it is used as a generic pronoun to refer to a component of an object eg an Andrews Warning Line or a Retracement level this should be clear from context Object An Object is anything you draw with one of the tools such as a Fibonacci Retracement an Andrews Pitchfork or a bit of text Selected Item or Object The object whose defining points are indicated by small circles When an item is first drawn it is selected automatically You can also select an item by ctrl clicking on it Simply pointing at an object will select it temporarily When you ctrl click or point at a point that is common to two objects the one drawn later is selected Study any of the technical analysis tools provided by ChartOverlay or any of the results of app
85. verage bar width Stating the Calibration Length is similar to describing the length of a fence whereas 10 sections of fence require 11 fence posts a Calibration Length of 10 requires 11 bars It is important that the line you draw begin and end at the same point in the first and last bar eg center to center or left edge to left edge If the chart you are studying has a large number of closely packed bars you should increase the Calibration Length accordingly so that an accurate average can be determined You can select the Color of your Lines by clicking on the colored square to the left of Line Color You can also change the Style used to draw the Lines to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible using the drop down list to the right of Line Style The following items are common to all of the drawing tools Click on a link for details use the Back button to return here Behavior Options More Options Fewer Options 2002 2010 Omnium Software Inc Dialogs 60 Time Cycle V Leave Toolbar Button Depressed TF Don t Show this Dialog Every Time V Make These Values the Startup Defaults 4 7 Text You can use individually formatted blocks of text to annotate your charts Each heading below corresponds to one of the option groups in the larger dialog window Text Options Type the Text you want to display in the large edit box C
86. w Reaction Lines at equal intervals Look for reversals near the Reaction Lines Look for significant price action at or near the Reaction lines See Disclaimer y To draw Action Reaction Lines use the Parallel Trendline dialog press the Parallel button or choose Draw Parallel Trendline Here from the menu and then click on any point through which you want the Action Line to pass if you use the menu the point on which you clicked for the menu will be used to draw the line Depending on which option you chose one or several Reaction Lines will be drawn The Action Reaction Lines are an option associated with Parallel Trendlines 2002 2010 Omnium Software Inc 33 Chart Overlay Help 3 6 3 7 While the Action Line is normally drawn to the left of the Center Line with the Reaction Line s to the right you can reverse this if you wish Once you have drawn a set of Action Reaction Lines you can adjust all lines in the set by moving any one of them Fibonacci Price Retracements A Fibonacci Price Retracement is a reversal that occurs after a significant price movement Technical analysts have observed that the size of a reversal is often related to the Golden Mean 1 618 usually the ratio of the reversal to the original move is a positive or negative power of 1 618 1 618 is also the limit ratio of successive terms in the sequence of Fibonacci Numbers 0 1 1 2 3 5 8 which is where the
87. want by specifying a multiple of the distance between the upper and central median lines Positive multiples will cause lines to be drawn between the upper and central median lines the central median negative below After you have draw an Andrews item you can adjust any of the Warning Lines by Ctrl clicking and dragging them If you have checked Remove Fibonacci Levels by Ctrl Checking on Them on the Fibonacci tab of the Options dialog you can easily remove unwanted Warning Lines you have drawn by holding down the Ctrl key and clicking on the lines you do not want You can also add temporary Warning Lines by using the Parallel Trendline tool or by using the Draw Parallel Trendline Here item from the menu Simply select the Pitchfork and create the Parallel The new Parallel will be drawn as a Warning Line unless you have chosen Automatically Extend in the Parallel dialog Reaction Lines are lines drawn parallel to the Base of the Pitchfork the line connecting the three median lines it also connects the second and third defining points of the Pitchfork The length of the Handle of the Pitchfork is used for spacing the reaction lines Trigger Lines are drawn from the first defining point A through the other two defining points B and C A Pivot Zone is a rectangle whose left edge is at point C and whose width is the greater of C Band B A top and bottom are not significant Drawing Options You can select the Color of your Median
88. ware Inc Dialogs 72 4 12 Registration When you have only a few days remaining in your Free Trial or when you choose Register from the Menu the following dialog will appear If you wish to continue with your Free Trial simply click the Continue Free Trial button If you have a Registration Key you can enter it in the Key box Actually you can copy your name and the key together and paste the copied information into either the Name box or the Key box ChartOverlay will separate them for you Copy and Paste are recommended to avoid errors when typing the long Registration Key string If you do type in the Registration Key note that there are no Os letters only the digits 0 9 and the letters A F Days Left You have 15 days left before your temporary key expires Register If you have a Registration Key enter it below if you copied your Name and your Registration Key together you can paste them into either box and they will be separated automatically Name wl Cancel To obtain a Registration Key click Buy Now below Buy Now or Continue Free Trial Click Buy Now to obtain a Registration Key or click Continue Free Trial Buy Now Continue Free Trial 2002 2010 Omnium Software Inc
89. ws Median Lines Pitchforks Modifier Keys Use the modifier keys as follows to affect the way some features of ChartOverlay operate Ctrl e If the Ctrl key is not pressed Click or Click and Drag will create a new object 2002 2010 Omnium Software Inc 27 Chart Overlay Help e Use the Ctrl key to edit or manipulate objects you have drawn Select an object so you can perform some operation on it If you are upgrading from Version 2 0 the original version this is a change in the way that ChartOverlay behaves In Version 2 0 the Ctrl key inhibited these actions now it allows them We apologize for any inconvenience this may cause but feedback from users convinced us that the new behavior would be more natural e Temporarily Reverse Default Settings Holding down the Ctrl key while clicking on a tool button temporarily reverses the Don t Show this Dialog Every Time option for the corresponding tool dialog For example if Don t Show this Dialog Every Time is checked in the Trendline dialog and you Ctrl Click the Trendline tool button the Trendline dialog will open or if it s not checked and the dialog normally opens when you click the button Ctrl Clicking the Trendline tool button will select the tool without opening the dialog Holding down the Ctrl key while clicking on a blank area ie not on an existing object temporarily reverses the setting of the Erase Automatically menu item e Increase The Ef
90. xtensions Andrews Pitchforks Gann Fans Action Reaction Lines Time Cycles and other studies You can drawn them on any chart and you can draw as many as you want of each You can also save your work either as an image or as a file that can be opened later and used again Introduction ChartOverlay provides you with a transparent or translucent window through which you can view a chart displayed by another program and upon which you can draw various studies that interest you You can use ChartOverlay to add any of several Studies to any chart that can be viewed with Windows ChartOverlay is an overlay You simply place it over the chart you wish to study and you apply the Studies you want by drawing lines on the overlay or by clicking significant points Because neither the overlay nor the underlying chart program is aware of the other you can use ChartOverlay anywhere You can use ChartOverlay with end of day or real time charting programs web browsers spreadsheets PDF files newsletters and the like Among the Significant Features Are e Studies e Trendlines e Speed Resistance Lines e Gann Fans e Parallel Trendlines e Action Reaction Lines e Fibonacci Price Retracements e Fibonacci Fans e Fibonacci Arcs 2002 2010 Omnium Software Inc Getting Started 4 e Fibonacci Time Extensions e Fibonacci Price Extensions e Andrews Pitchforks Standard Modified Schiff Original Schiff Inside or Reverse
91. y Time Y Make These Values the Startup Defaults After clicking OK click and drag in the Overlay window to draw a Trendline To obtain a brief description of most items in this Sometimes it is useful to be able to draw a Trendline that is parallel to another line Each heading below corresponds to one of the option groups in the larger dialog window Drawing Options You can select the Color of your Line by clicking on the colored square to the left of Line Color You can also change the Style used to draw the Line to any of the defined values Normal Wide Dashed Dotted Dash Dot Dash Dot Dot or Invisible using the drop down list to the right of Line Style If you check Automatically Extend Using your Trendlines will be extended to the edges of the overlay window using the color specified by clicking the colored square on the right 2002 2010 Omnium Software Inc Dialogs 50 Action Reaction Lines If you choose One Reaction Line for each Action Line when you create a parallel on either side of your reference line a second parallel will be drawn on the other side of the reference line at an equal distance If you choose Many Reaction Lines for each Action Line when you create a parallel on either side of your reference line many parallel lines will be drawn on the other side of the reference line using a spacing equal to the distance of the first parallel from the reference line These lines

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