How To Tweet a Chart Image Fast!We realize that sometimes you just want to get your charts out to people as soon as possible.
With the Tweet Chart Image feature, now you can!
As illustrated above, simply choose "Publish" then "Tweet Chart Image" and you'll be able to tweet the image out directly from your Twitter account to get that critical analysis to your followers fast!
What's that? You'd like to do this on your iPhone as well?
No problem, we got you.
Check out what idea users are tweeting right now here
Image Credit
Tved
Creating Lines with ShortcutsCreating lines on a chart is one of the most fundamental methods of charting when performing technical analysis . Being able to create these effectively and quickly is a very useful skill to have.
Horizontal, Vertical and Cross lines can all be found on the drawings panel to the left of the chart in the subgroup “Trend Line Tools”. These tools can be added by selecting them from the subgroup and then placing them on the chart.
However, a more efficient method to creating these lines is to utilize the hotkey functions:
Horizontal Line Shortcut:
- Alt+H (PC), or Option+H (MAC)
Vertical Line Hotkey:
- Alt+V (PC), or Option+V (MAC)
Cross Line Hotkey:
- Alt+C (PC), or Option+C (MAC)
Becoming more efficient in your ability to draw lines on your chart will allow for quicker identification of areas of support/resistance and times on your chart.
Be sure to visit our help center to learn more about these tools!
More information on the Horizontal Line tool:
www.tradingview.com
More information on the Vertical Line tool:
www.tradingview.com
More information on the Cross Line tool:
www.tradingview.com
How to Draw Fibonacci Channels
Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend.
These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change.
Uptrend
When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created.
To draw the channel, first select the two low points on the trend, and then the high point in-between them.
After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance.
Downtrend
When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created.
To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below.
Do you use Fib Channels?
If so, share your ideas in the comments below!
Using the Trend-Based Fib Extension ToolThe Fibonacci ratios are widely used among traders to help identify potential areas of reversal in the movement of price action.
The Trend-based Fibonacci Extension tool utilizes three points on a previously identified trend in order to draw the Fib ratios on the chart.
In the chart above, price was rejected twice forming a double top which is a fairly strong reversal pattern. To help identify potential areas of support and resistance we have drawn a Trend-Based Fib Extension.
Using the double top patterns High, Low, and High as the three points for the Trend-Based Fib Extension, the Fibonacci ratios are drawn on the chart.
In this example, you can see that price action respected these levels very well until finding strong support at a potential bottom that corresponds with the 200% extension level.
But, notice the region in the yellow box on this chart. There seems to be no identified areas where the Fibonacci ratios show support or resistance.
While retrospectively we can tell that the area of support found at ~ $12 (141.4%) in mid-November 2017 did not produce a new bull market. At the time there was a potential reversal at that region resulting in higher highs and therefore we could have pulled a NEW Trend-Based Fib Extension as shown below.
As the new Trend-Based Fib Extension is identifying areas of a new uptrend, we see that these ares are shown in a way that they were not in the previously drawn Trend-Based Fib Extension.
However, price was rejected at the 61.8% level and continued downward until the 0% extension level was broken, thus invalidating this Trend-Based Fib Extension.
While the upward price trend did not continue, there was a local high that was made and thus could be utilized to create another Trend-Based Fib Extension to further identify areas of reversal for the continuing downtrend as shown below.
Looking at this newly created Trend-Based Fib Extension, we see that the areas moving down to the 78.6% extension level are very well respected, at which time the price found support, creating a triple bottom reversal pattern.
It is interesting to note that the 78.6% extension on this Trend-Based Fib Extension pull is at $1.82, and the 200% extension level from our first Trend-Based Fib Extension pull was at $1.95, a mere $0.13 difference in price.
This area where the two levels of a Trend-Based Fib Extension or Retracement group together is know as a Fib cluster and indicates areas of strong support or resistance.
With price forming a triple bottom and reversing from this level, is it possible that this is the bottom of this downtrend?
Could a new Trend-Based Fib Extension now be pulled from a new Low/High/Low to identify potential areas of support and resistance?
Give it a try and see what you find!