Tools: Speed Lines

Speed Lines use three points on a chart to create a triangle. The first two points mark a trend line from a major low to a major high, or vice versa. The third point marks a vertical line from the 2nd point. Speed lines are drawn from the 1st point to intersect the chart at selected intervals. To draw Speed Lines on a chart, click the Speed Lines button. The cursor will change to a pencil while in the draw mode. Move the cursor to an important High or Low on the chart, then click and drag the mouse to the ending point. The ending point is usually the end of an important trend or correction following the starting point. The Speed Lines will extend on the chart. Click the left mouse button once to finish the tool.

Adjusting Speed Lines
Re-selecting the Speed Lines will activate the ability to move them to a different location. Click the mouse on the starting point of the fan (or the main Speed Lines) to activate the lines. The cursor will change to a pencil and square bullets will mark the three points of the triangle. Drag the square bullets to a new location and the Speed Lines will adjust. Move the whole fan by dragging the line that connects the first two select points.

Properties
After drawing Speed Lines on a chart, click the Chart Objects button, select Speed Lines, and then click Properties to view the properties window. The properties window can also be displayed by re-selecting the lines and then right-clicking the mouse.

• Price - The 'Price' box displays the price of the starting point. This can be fine tuned if necessary.
• Extend Multiplier - Enter a number to specify the length of the lines.