Trend Channel
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    Trend Channel

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    Article summary

    DXcharts powers DXtrade, DXfina, and FinCharts.
    Check our website to find more information about DXcharts library.

    Trend Channel is a tool that allows you to draw an ascending or descending area (channel) on the chart by placing two lines. The upper line marks resistance and the lower line marks support. So both the tops and bottoms of channels represent potential areas of support or resistance. Trend channels with a negative slope (down) are considered bearish and those with a positive slope (up) are considered bullish.

    The Trend Channel is drawn by three points. To add a Trend Channel to the chart, click its name or the icontrend_channel_iconon the Drawings Panel. Then, do the following steps:

    • Specify start and end points on the chart to draw an upper line (ascending or descending).
    • Move the lower line up or down to adjust the width of the channel.
    • Click on the chart to fix the position.
    Note: To cancel drawing, press ESC

    Trend_ChannelTrend Channel 

    Actions with the Trend Channel

    • To edit the Trend Channel, point to an upper or lower line and drag it by one of the points:
      • Drag it by one of two points of the upper line to change the slope of the channel.
      • Drag it by the point of the lower line to change the width of the channel
    • To move the Trend Channel, point to its upper or lower line and simply drag it to where you want it on the chart.
    Note: To open the settings window, double-click the line on the chart

    Trend Channel Toolbar

    toolbar1(2)

    Color. In the Color section, you can change the color of the Trend Channel. The slider at the bottom is intended to set transparency of the color.
    To create a custom color:
    • clickto open the color picker
    • by using the slider at the bottom, adjust the main color
    • on the color picker, set a shade for the main color

    The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

    Weight. In the Weight section, you can set the thickness and style for the border lines of the Trend Channel (currently, only dashed style is available).
    Settings. A set of parameters that are described in Trend Channel Settings.
    Lock. Locks the drawing position. The figure cannot be moved or edited on the chart.
    Delete. Removes the trend channel from the chart.
    Note: To delete a Trend Channel, you can also press the Delete or Backspace button on your keyboard

    Trend Channel Settings

    • Coordinates. The coordinates of the three points of the Trend Channel that you can specify manually by filling out the values for the prices, dates and time.
    • Style. In this section, you can set the lines color, style or the background color of the Trend Channel.
      Clear Background checkbox to remove the background of the Trend Channel.
    • Extend. The channel is extended in both directions by default.
      Clear To the left or To the right to remove the extension from the start or end point of the upper line respectively.

    Click Close to apply the settings.

    Note: At the bottom-left corner of the window, click Restore Defaults to reset the settings

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