You are here: Educational Videos » Arc & Bar Tools
Track 'n Trade - Stocks | Futures | Forex
Using the Arc & Bar Tools
In this video, we want to cover the Arc Tool and the Bar Calculator. This video is a quick reference guide on how to place these tools on the chart and not meant as an educational video on the Merit's of the tool itself. I also want to make a special note here that these features are exactly the same whether we're using Track 'n Trade Stocks, Futures, or Forex. You'll notice that I'm using the Futures version for this demonstration.
The first thing I want to point out is the Arc Tool. When we click the Arc Tool button, it brings up the preferences within the Preferences Tab. To draw the Arc tool, very simply, we draw on the screen by holding down the left mouse button and dragging. It's going to draw our Arc into place. We can adjust the Arc with these handles. We can also adjust the Arc if our bottom let's say this is a bottom Arc) is not exactly round, we can come in here and these sensitivity sliders will come in and allow us to adjust our sensitivity of our bottom formation here to be more aligned with the Price Bars themselves. Then of course, the other direction would be to draw in the top. This would be a cup and handle formation. That is how we draw the cup and our handle, or our Arc Tool in Track 'n Trade. Just like that!
Of course we have the Snap Tool feature, we have the color feature built in over here in the Preferences Tab. If we select Snap, of course the ends are going to snap to the Price Bars. The default for this one is Free Flowing, because we don't generally snap the tool to the Price Bars, when we're drawing the cup and saucer.
The next tool that we want to talk about is the Bar Tool. I'm going to come in here and to remove the Arc Tools, I'm going to remove these, we just simply hit Delete. By right clicking on the Arc tool, hit Delete, right click, hit Delete. Let's draw the Bar tool in here. Notice again, when I select the Bar tool in the Preferences Tab, the preferences for the Bar tool appear. I'm going to draw that, and I'm just going to measure from peak to peak. The distance between those two, it's going to tell us 33 actual Price Bars, 44 actual days, in this case, since we are on a daily chart. It's showing us the number of Price Bars and the actual days. It's taking into account the weekends. We can do that again, as we come across. This is simply designed to help us identify the amount of time that is taking place between individual peaks and valley's. We can measure those peaks and valley's, giving us a timeline of what we can anticipate in the future of where these peaks and valley's will occur. That's your timeline bar counting tool.
We have the same features over here, we can show the text, or not. We can bold the text, change the size or the color. We can come in here, we can show Higher/Lower counts. This is important as well. We can come in here, let me extend this just a little bit and we can see that when we hit show Higher/Lower close counts, we have 45 Bars, 14 of which were Higher. 2 of which were Lower. So that gives us some additional information about that individual trend in Track 'n Trade. To remove the Calculator Bars, very simply, just right click on them and hit Delete, and they will disappear!