Division of 8ths
Overview
An important geometric range division used by Gann in his analysis. By selecting a range (typically between a major high and low), the tool will automatically divide it into eighths.
To add the tool to your chart, select the tool from the Gann tool group, and left-click on the first bar you want to calculate the tool from. Next, left-click on the bar where you want to calculate the tool to. With both points selected, move your cursor to the left or right to extend the level lines, then left-click to place them on the chart. Optuma will then draw the tool using the default settings.
Actions & Properties
Actions
Add Price Alert: Selecting this action will set a Price Alert at the value the Horizontal Line is positioned.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Division of 8ths tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Division of 8ths tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Division of 8ths to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to change the name of the tool, as displayed in the Structure Panel.
Cycles: Allows you to continue the division lines above or below those already set as many times as you want.
Extend Left: Check this box to extend the division lines to the left.
Extend Right: Check this box to extend the division lines to the right.
Show Prices: This provides an option to show or hide the price value for each division line.
Label Alignment: The price label can be placed in different positions in relation to the division lines. There are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.
Font Size: Allows you to adjust the size of the text displayed for each price label. Moving the slider bar to the right increases the font size.
Line Style: The Line Style property allows you to adjust the type of the division lines displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot and Stippled.
Line Width: Allows you to adjust the width of the division lines. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the division lines. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.