How to Change Drawing Tool Trendline Width on Thinkorswim

Technical Drafting Class: Making Drawings Easy and Accessible

Learn how new drawing tools on thinkorswim can make bespoke drawing and annotation simple and easily accessible.

3 min read

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When new information or information conflicts with your market outlook, are you the type who allows your ego to get in the way, or are you open to change?

Some would call that openness "mental flexibility," and in the often isolating world of markets, physical flexibility can assistance push mental flexibility. The new "Drawings Made Easy and Accessible" update along the thinkorswim^® platform from TD Ameritrade pot guide you toward both these types of flexibleness.

But before we go into the applications for this new update, let's take a moment to briefly cross the mechanism.

The new drawing tool put back allows you to produce custom drawing sets—your personalized chart drawings—tied to specific charts and symbols, and store them altogether on the cloud. So each graph has its own drawing sic, and each drawing set is uniquely tied to a symbol. This allows you to create any phone number of draftsmanship sets for stock ABC, merely keeps them separate from sets for XYZ, or any other symbols.

Drawing Sets in Natural process

One of the most powerful things about this new lineament is the way you can use it for a "top-down" approach toward graph analysis. Let's look at an example of how this privy put to work by creating and redeeming three new drawing sets, which we'll call "semipermanent trend," "support levels," and "intraday smel."

Long-term trend: Figure 1 pulls back wide on the chart to show more information—in this case, incomparable year's worth—and with primary trendlines haggard in. This can give you a unclouded and easy-to-register macro view. These lines indicate a possible uptrend in both the long-term and intermediate terms.

FIGURE 1: TREND LINES.

One-year graph of an instance breed, with long-run- and intermediate-term trendlines. Image source: the TD Ameritrade thinkorswim^® political program. For illustrative purposes only. Past operation does not guarantee future results.

Confirm levels: Once potential trends are identified, we can buoy define and annotate support and resistance levels by going back to the default drawing set (which has No drawings) and drawing lines to indicate what we think are the great levels. We then save this set A "Support Levels." Away creating a new set, with unique drawings, the previous set's trendlines remain entire.

FIGURE 2: ADD SUPPORT AND RESISTANCE LINES.

Annotate and save as a unique position. Image seed: the TD Ameritrade thinkorswim^® chopine. For illustrative purposes only. Past performance does not guarantee future results.

Now, here's where things sire in truth cool.

Intraday look: Having reviewed the macro picture, we tail end practise devour to the short-run, intraday view using a 5-atomic chart like the one shown in fig 3. We can get super detailed with with the drawing and annotations to help identify potential entry and exit points. It's connected this view where text notes can really help. Once this view is solidifying up, we stool save it in a new drawing nonmoving called "Intraday Look."

FIGURE 3: INTRADAY LOOK.

Adding schoolbook notes can help traders keep centred along potential unveiling and exit points. Image source: the TD Ameritrade thinkorswim^® platform. For illustrative purposes only. Past performance does non guarantee future results.

The Power of Flexibility

Arsenic you can find out, being able to create independent drawing sets tied to specific symbols can potentially improve the flow and quality of analysis. Toggling through saved drawing sets can enable you to quickly and efficiently monitor individual stocks, ETFs, and indexes to promote a more holistic approach to chart psychoanalysis.

Because the drawings in one set don't overlap with others, your chart view will remain kosher and easy to understand, showing you only the relevant annotations for the picky time frame or advantage point of your choosing.

Ace added feature is cloud reposition of your drawing sets, meaning you arse access your saved drawings from any computer. Thusly you can act up about, unchained from your desk, knowing that, wherever you log in to thinkorswim, your drawings are there.

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How to Change Drawing Tool Trendline Width on Thinkorswim

Source: https://tickertape.tdameritrade.com/tools/drawing-easy-accessible-16009

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