Raman Support & Resistance Bands
Overview
The Raman Support & Resistance Bands tool was developed by Ed Raman and is used to assist with determining support and resistance levels.
To add the tool to your chart, select the tool from the Levels 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 Raman Support & Resistance Bands 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 Raman Support & Resistance Bands 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 Raman Support & Resistance Bands 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.
Lock to Bar Position: When enabled, as new bars are added to the chart each day, the tool will automatically move/recalculate. For example, if you apply the tool to the last bar on your chart and lock it to that position, when the next days’ data is downloaded the tool will automatically move to the new bars position, with the tool recalculating based off of the new price.
Show Labels: Deselect this check box to hide any label information for the tool on the chart.
Font Size: Allows you to adjust the size of the text displayed for each label used on the Bands. Moving the slider bar to the right increases the font size.
Period: Sets the time frame for the tool to be applied to.
Extend Left: Check this box to extend the bands to the left.
Extend Right: Check this box to extend the bands to the right.
Line Style: The Line Style property allows you to adjust the type of the lines 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 lines. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the lines. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Colour: Allows you to select the colour of the bands.
Transparency: Use this field to make the band shading transparent. Moving the slider to the left will increase the transparency of the tool.
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.