Gann Square Range Marker

Overview

The Gann Square Range Marker is based on the Gann Square Range tool and uses the same concept of the Gann Square Marker which allows you to set your own squares using a formula. The key difference is that the Gann Square Range Marker tool requires two clicks to set the range. The levels can then be calculated using Range , Bars, and Days (for calendar days) in the formula.

In this example, the range between points A and B are selected, with the Time Price Measure tool showing a price range of 34.54 in 57 bars. The blue and red vertical dotted lines are calculated by the range marker tool by setting the time control to Range (blue) and Bars (red). The blue lines are therefore drawn every 34 bars (trading days on a daily chart), and the red lines every 57 days:

The horizontal price levels are half the range (ie every 17.27), added to the price at B. Here are the settings for the price and time levels:

A complete list of mathematical functions that can be used in the Expression is available below (eg SQRT, TAN, ABS).

To add the tool to your chart, select the tool from the Gann tool group, and left-click on the bar on the chart you wish to calculate the tool from. Optuma will then draw the tool using the default settings.

Actions & Properties

Actions

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Gann Square Range Marker 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 Gann Square Range Marker 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.

Set Time Alert: Selecting this action will set a Time Alert at the value the Vertical Line is positioned.

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 Gann Square Range Marker to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Levels: This window is used to enter your custom formulas into the Gann Square Markers tool.

• Expression - This is where the formula is entered, e.g. Price*0.1, Price*TAN(30), SQR(Price)*0.1
• Weight - Some projections are more important than others. This setting allows you to increase / decrease the importance of the projection.
• Type - Determines whether the projection is for time or price.
• Harmonics - divides the markers into thirds or eighths, or both.
• Time Control - If Time is the selected Type, this drop-down list lets you select the units of time used in the projection (Bars, Calendar Days, Minutes, etc).
• Line Style - Use this option to adjust the width, style (dotted, dashed, etc) or colour of the marker.

Use Chart’s Price Unit: By default, the price unit of the chart is used in the tool calculation. Untick the box to manually adjust the value in the Price Unit property.

Price Unit: This option is available when the Use Chart’s Price Unit box is unticked (see above). Enter a new value to manually determine what one unit of price is equal to in the tool’s calculation (eg 0.1). For more information please click here.

Repeat Markers: Tick this box to repeat the markers on the chart.

Marker Repeat Count: Sets the number of times the markers are drawn on the chart.

Price Direction: The horizontal price markers can be drawn either up, down or in both directions.

Time Direction: The vertical time markers can be drawn either forward, in reverse or in both directions.

Label Alignment: The labels can be placed in different positions in relation to the Gann Square Marker lines. There are 8 options available: Top Left, Top Right, Centre Top, Bottom Left, Bottom Right, Centre Bottom, Centre Left and Centre Right.

Show Labels: When selected Date and value labels (where applicable) will be displayed for each Gann Square Marker line.

Base Line Style: This allows you to adjust the horizontal and vertical base line styles, their width and colours. There are 8 styles available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot. The line widths can be increased by moving the slider bar to the right and Stippled.

Thirds Line Style: This allows you to adjust the line style of the Thirds harmonic division, their width and colours.

Eighths Line Style: This allows you to adjust the line style of the Eighths harmonic division, their width and colours.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency.

Visible: Un-tick this checkbox to hide the tool from the chart.

Geo/Helio/Sidereal: This option is available with the Astronomical module only. For calculations using planetary angles / positions, etc, this setting allows you to select the style of ephemeris used (geocentric, heliocentric, topocentric or sidereal).

More Information

Functions / Expressions List