Vector Concentric Circle
Overview
The Vector Concentric Circle is a geometric tool based on the work of Scott Hathaway of Pattern to Profit. For more information, please click here.
This tool expands the concept of the vector tool by forming a circle using the vector as a radius, with the first point selected (the high, in this example) as the centre. The lock ratio was previously set at $5/TD.
This example also adds two manually drawn 45Deg angles which utilise the centre and the circle to analyse price movement. A bearish break is underway.
Many extensions are possible, including radian angles, fractional harmonics, and squares.
Video
Actions & Properties
Actions
Add Line Alert: Creates an alert based on the selected Vector line. See here for more information on Line Alerts.
Add to Toolbar: Click this action to add the selected Vector Concentric Circle to your custom toolbar.
Apply Settings to All: When multiple circles 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 circles in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected Vector Concentric Circle, 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 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: Duplicates the Vector Concentric Circle based on price.
Restore Default Settings: Click this action if you have adjusted the default settings of the Vector Concentric Circle, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the Vector Concentric Circle properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Vector Concentric Circle to a chart, the tool will display using the new settings.
Time Flip: Duplicates the Vector based on time.
Rotate 90 Degrees: Moves the Vector through 90 degrees.
Delete: Delete the Vector Concentric Circle from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Radian Angles: Allows you to set various angles within the concentric circle.
Degree: Manually change the angle of the Vector.
Show Text: Untick to hide the text label.
Font Size: Allows you to adjust the size of the text displayed for each label used in the text. Move the slider bar or roll the mouse wheel to increase the font size.
Show Harmonics: Duplicates the concentric circle.
Fractional Ratio: Ratio of the harmonic circles.
Harmonics Style: Change the harmonic circle line style, width, colour, and transparency.
Show Squares: Draws a square around the concentric circle.
Extend Lines: When Show Squares is enabled, this option can be selected to extend the square lines.
Square Style: When Show Squares is enabled, you can then adjust the square line style, width, colour, and transparency.
Show Grid: Tick this box to show a grid based on the Vector.
Grid Line Style: The Line Style property allows you to adjust the type of line displayed (eg dashes, dots), line width, colour, transparency, and extensions.
Radius Line Style: Change the line style, colour, width and transparency of the radius line. A tangent can also be selected.
Circle Style: Change the line style, colour, width and transparency of the circle.
Tool Transparency: Use this slider bar or roll the mouse wheel 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.