Triple Octave Support and Resistance
Overview
As described in The Law of Vibration - The Revelation of William D. Gann, Tony Plummer explains the relationship between pairs of musical notes in the tonic solfa (ie, Do, Re, Me, Fa, So, La, Ti, Do). Gann used this relationship between the notes to calculate support and resistance levels.
For more information on this tool, please contact Tony at Helmsman Economics.
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. 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 Triple Octave Support and Resistance Lines 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 Triple Octave Support and Resistance Lines 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.
Price Flip: Allows you to create a duplicate of the tool along the price axis.
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 Triple Octave Support and Resistance Lines 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: Click on this option to show or hide the different levels, or change the line style or colour.
Inner Octaves to Show: The number of inner Octaves displayed within the main Octave tool.
Show Prices: This provides an option to show or hide the price value for each Octave level.
Show Notes: This provides an option to show or hide the note description for each Octave level.
Reverse Percentages: Selecting this checkbox will reverse the Octave levels.
Lock Log: When ticked, gives you the ability to maintain the line spacings of the Octave levels, when moved from its original location on a Logarithmic chart.
Label Alignment: Can elect to display the price label in different positions in relation to the Octave levels. 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 label used in the Octave tool. Moving the slider bar to the right increases the font size.
Extend Left: Check this box to extend the Octave levels to the left.
Extend Right: Check this box to extend the Octave levels to the right.
SubOctave Line Style: This property allows you to adjust the line style, width and colour of the Inner Octave levels.
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.