Profit Zones
Overview
The Profit Zones tool can be used to help visualise profit targets for Long and Short trades. A straddle option is also available which can be used by people who use Options to hedge trades.
To add the tool to your chart, select the tool from the Price 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 Profit Zones 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 Profit Zones 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 Profit Zones 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.
Price Type: Lets you adjust the tool for use with Long / Short and Hedged trades. You can choose the following types: Call/Buy, Put/Sell, Straddle.
Price: Lets you manually enter the starting price for the Profit Zone tool.
*Note: When Straddle is the selected Price Type the Price field will split into 2 properties (High Price and Low Price).*
Colour: Lets you adjust the colour of the Price Zone tool. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
*Note: When Straddle is the selected Price Type, the Colour field will split into 2 properties (High colour, Low colour).*
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.