Horizontal Targets
Overview
The Horizontal Targets tool can only be used on Point and Figure charts. It is used to calculate and plot a potential buy or sell target value by using a mathematical calculation, this is a horizontal version of the Vertical Targets tool. The Horizontal Targets tool is primarily used in areas of sideways movement/congestion.
Calculation
Ht = Pl + (W x R)<br></br><br></br>Ht = Upside Target<br></br>Pl = Lowest box price<br></br>W = Width of formation (in columns)<br></br>R = Reversal Value (Box Size x Reversal Count)
For Tops: Ht = Ph - (W x R)
<br></br>Ph = Highest box price
Actions & Properties
Actions
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Horizontal Targets 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 Horizontal Targets 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 Horizontal Target 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 Text: When selected the target value and status is displayed.
Font Size: Sets the size of the text used for the target label. To adjust the font size, click and drag the slider, left to make the text smaller or right to make the text larger.
Line Style: Sets the line style to be used for the Horizontal Targets. 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 Horizontal Targets line. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to adjust the colour of the Horizontal Targets line.
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.