Trendlines

Updated 05/10/08

FastTrack for the Web allows you to draw multiple trendlines using your mouse.

When you can draw a trendline, then the issue is "trending". While an Issue is trending, you should use trend-following indicators, not trading-range indicators.

The Big Feature

A neat aspect of FastTrack's trendlines is that you can draw the trendline on an AVG of a family of funds or stocks, and then step through the members of the family to determine which are ahead or behind in the current move.

The trendline will automatically adjust itself to whatever red line is currently drawn.

Basics

• Trendlines are drawn on the red line of the T or P Charts. If other color lines are on the chart, they will be ignored. Trendlines are relevant ONLY to the red line.
• You may draw up to 20 trendlines on a screen.
• A trendline has four points as shown above. A series of four clicks sets the numbered points above. Points 1 and 4 set the trendline start and end points . These points do not need to touch the red line. Points 2 and 3 set the slope of the trendline and MUST touch the red line.
• You may change the red line to another issue and the trendline will be redrawn touching points 2 and 3 and ending on points 1 and 4.
• You may save trendlines and reload them as you wish.

Step by Step

Click on the "Trend" button on the Chart Tools Toolbar.

1. Click a starting point for the trendline somewhere on the Charts.
2. Click to set the first point at which the trendline should touch the red line. 
3. Click to set the second point where the trendline should touch the red line.
4. Click a fourth time to set the length of the trendline

Right-click the Chart Tab ToolBar and select Trend extend to make all trendlines extend to the most recent date charted. 

Making Changes

If you make an error at any time before clicking the fourth point completing the line, move the mouse to the left. Any of the 1st through 3rd points that you move back over will be removed. Moving the mouse to the left of the first point erases the trendline. Once you click the fourth and final point, then the trendline cannot be changed. You must remove it and redraw.

The Trendline Label

Once drawn, the trendline will display a percentage at the top. This trendline label by default shows the percentage gain of the trendline. The label can be dragged to a more convenient place if you like.

Right-clicking on the trendline label brings up several options.

Trendline Width

Once a Trendline is drawn it retains it's original width as then defined by the Appearance Dialog. The width cannot be modified except by deleting and redrawing the line.

Removing Trendlines

Double-click beneath the trendline to select it (the line will turn dashed instead of solid) and then hit the <Delete> key on your keyboard. The double-click will always select the trendline which is above and closest to the mouse pointer at the time of the click.

To get rid of Default trend lines. Right-click on the Chart toolbox and select Trend/Clear. When you exit FT4WEb without any trend lines displayed, then the DEFAULT trendline set will be erased.

Trendline Saving

Right-click on the chart and select Save/trendLines. The trendline file will be saved in 

    ...\FT\FT4WIN\TRENDS\USERDEF\*.TRN

If you draw trendlines and then exit FT4WEB without saving the trendlines as a specific, named set of trendlines. Then the trendlines will be saved in a trendline set named "Default". On restarting FT4WEB, the DEFAULT trendline set will be automatically restored . . . whether or not you intended to do so.

Trendlines can be loaded again later by right-clicking the chart and selecting Load/trendLines.

Disclaimer: No technical indicator can assure profits. As market conditions change, the interpretation and use of the indicator must change.