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Using the Arrow, Flag, and Text Tools
In this video, we want to demonstrate how to place the Arrow tool, the Flag tool, and the Text tool within Track 'n Trade. I'm doing this demonstration in the Forex version of Track 'n Trade, but these features are exactly the same whether we're using Track 'n Trade Stocks, Futures, or Forex.
The first tool I want to demonstrate is the Arrow tool. Very simply, if we have the Preferences Tab selected and we click on the Arrow tool, it's going to pull up the preferences for that Arrow tool. To draw the arrow, very simply, all we have to do is click on the screen and draw to the point in which we want to highlight or point the arrow at. That gives us an arrow pointing at a highlighted area on the chart.
We can change of course over here in the Preferences Tab, we can change the color of the arrow, or we can change the color of the arrowhead, as well. We can also change the thickness of the line or the style of the line. That's all done over here in the Control Panel. We change the arrow point, this is on end 2. Of course, that's the default. If we want to go on end 1, we could reverse the arrow and it point the other direction. Or we can say on both ends and we get an arrow on both ends. In this case we'll go back to end 2, and we also have the Snap capability that allows us to have it point exactly at a specific price level, by attaching itself to/or snapping to a Price Bar.
The next tool that I want to show you is the Flag tool. By simply clicking on the Flag icon, if we have the Preferences Tool selected, we get the Flag icon box. You'll notice that we have a number of default images in here that you can use. You can also import your own images. You'll notice that we use the wmf file style, this gives us an invisible background. Now, I want to just simply place these arrows on the chart. I just click it, it loads the cursor, I click again on the chart and you'll notice that it places the arrow with the handles. I can then stretch the handles, to make the arrow the size that I want. Just by clicking on the arrow, I can drag it around and point it on the chart wherever I would like.
Many people will look at this set of tools or set of icons, and say, 'I would like to have an UP arrow, and I don't have an UP arrow, I only have a DOWN arrow.' One of the features in Track 'n Trade is the ability to take this arrow, simply grab the handle, and stretch it up and reverse it, and it suddenly becomes an UP arrow! That's how you receive and UP arrow or DOWN arrow. That can be done with any of these dynamic drawing over here. You can reverse their position, you can go the other direction. Some of them have been designed to work better on a black background, some of them have been designed to work better on a different color, or a lighter background. That is also a simple process within Track 'n Trade; to change the background.
The next tool that I would like to example is the Text tool. We load the cursor with the Text tool simply by sliding up here and clicking on the large capital A on the Button Bar. If we have the Preferences Tab selected you'll notice that you will receive the preferences for the Text tool. Very simply, to place the Text tool on the screen, we left click, and it places a cursor. We begin typing: 'This is the USD/CHF chart.' This is the way that we can edit and modify this text. If we come in here and we would like to make some changes we can either make the changes up here by backing up over the text and making some changes. Or you can come over here and you can make changes within the text, in the text box itself. This is a nice way of having more control over your text box. Of course, the controls give us the ability to increase the font size. We can come in here, we can change the font size to something other than just the default. We can change the color to any color that we want. Of course, we can also change the outline of the box. We have the ability to center the text, right justify, bold the text, italicize, underline, or strike through. We have also have custom size fits. This is a nice way of annotating your chart. Giving you the ability of writing on your chart. You can simply drag that text and put it anywhere you would like. If you would like to remove the text, all you have to do is right click on the text box, come down and hit Delete. The same thing goes with other tools on the box. If you would like to remove them, simply click on them. Then you can either right click to hit delete or you can click on them and (as long as the handles are selected) you can hit the delete key on your keyboard. That will also remove them.
That's just a quick demonstration of the Arrow tool, the Flag tool, and the Text tool within Track 'n Trade Live.