Single In/Scale Out Levels
Overview
The Single In/Scale Out Levels is a proprietary tool, based on the work of Ross Beck, FCSI from Geometric Trading. By selecting an Entry point and a Stop Loss point, lines are plotted for 2 profit targets and an adjusted stop loss.
To add the tool to your chart, select the tool from the Beck tool group, and then left-click on the chart at the desired level to add the Entry line. Next, left-click again to add the line for the Protective stop. Optuma will then draw the tool on the chart 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 Single In/Scale Out Levels 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 Single In/Scale Out Levels 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 Single In/Scale Out Levels 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.
Show Price: Un-tick this checkbox to hide the price values from the level lines on the chart.
Label Alignment: Can elect to display the price labels in different positions in relation to the level 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 the Price labels. Moving the slider bar to the right increases the font size.
Entry Line Style: This option expands to show the following:
- Line Style - The Line Style property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the Entry line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Transparency - Use this slider bar to adjust the transparency of the Entry line. Moving the slider to the left will increase the transparency of the tool.
- Visible - Un-tick this checkbox to hide the Entry from the chart.
Protective Stop Line Style: Expands to display the properties of the Protective Stop Line. The properties are identical to those listed for the Entry Line Style.
Adjusted Stop Line Style: Expands to display the properties of the Adjusted Stop Line. The properties are identical to those listed for the Protective Stop Line Style.
Profit Target Line Style: Expands to display the properties of the Profit Target Line. The properties are identical to those listed for the Adjusted Stop Line Style.
Entry Price: Can manually set the nominated Entry Price level for the Entry Line.
Protective Stop Price: Can manually set the nominated Protective Stop Price level for the Protective Stop Line.
Extend Left: Check this box to extend the Single In/Scale Out lines to the left.
Extend Right: Check this box to extend the Single In/Scale Out lines to the right.
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.
More Information
For more information about the Single In/Scale Out tool and Ross Beck, FCSI, click here.