Stop Line


Stop Line
The stop line is a simple horizontal line that is defined by only the value on the price axis. Entered for one level, the line is extended to both sides of the chart. The stop line has an alert function and can be used for precise timing of buy and sell orders. The stop line may be used for
  • drawing horizontal lines
  • marking resistance and support levels
  • exactly measuring price movements
  • placing a line at a user-defined price level

Entering a Stop Line

  1. Open a symbol chart.
  2. Click on the stop line tool in the toolbar.
  3. Click into the chart. A horizontal stop line is drawn. The current value is given at the left side of the chart.
You can align the anchor points of the stop line to a certain price level. To do so, activate the Snap Mode by clicking on the magnet symbol in the toolbar. Now when you enter a stop line in the chart, it is positioned exactly at a high or low point.

Editing a Stop Line

  • To move the stop line, drag it with the mouse (the mouse pointer turns into a double arrow) and move it up or down. Release the mouse button when done.
Note that the stop line cannot be moved freely if the Snap Mode is active. If necessary, switch it off by clicking the magnet symbol in the toolbar.
  • You can duplicate the stop line by double-clicking it.
  • When the stop line is selected, you can edit the properties in the toolbox.
  • For the stop line, the alert function is available. To set an alert, set the Alert Mode in the properties in the toolbox from Disabled to one of the options, see below.
  • To delete the stop line, right-click on it and select Delete from the context menu. Alternatively, select the stop line and press the DEL key.

Properties

Graphic Properties

The following properties can be set for the trend line tool:

Color - Here you can select a color for the line.

Width - Here you can set a line width by entering a number.

Style - Here you can select a line style, e.g. solid or dotted.

Label Alignment - Here you can set the value label to visible or hidden and align it to the stop line.

Alert Properties

The stop line tool can be used with various kinds of alerts.

Alert Direction - Here you can select from the list, if crossings of all kinds lead to alerts or only crossings of a certain direction.

Alert Mode - Here you can select an alert mode from the list. Select if every crossing is considered or only one crossing per trading period or trend line.

Alert Name - Here you can specify a name for alerts generated by this tool. It will be included in the signal field of the alert.

Alert Trigger - Here you can select when an alert should be triggered.
  • Crossed: Triggers when the price crosses the tool, e.g. goes from below the tool to above the tool
  • Hit or Crossed: Same as above, but also triggers when the price merely hits the tool. This setting is useful for a Point&Figure Chart.
For further information on alert modes, see the chapter Alerts.