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How
do you use the PTP Calculation Tool ?.
Answer:
The
PTP tool draws 4 Trade Management Lines on a chart at Any
Bar Location.
How
to Draw the PTP Calculation Tool on a Chart.
Open a Chart
Left Click the 'PTP Calculation Tool'
Select the Bar from which to draw the tool.
Clicking Below the bar will draw 'Long' trade
Clicking Above the bar will draw 'Short' trade
(This coincides with the positions of the PTP signals)
Move
the cursor to the side to draw out the indicator lines.
Click to place. All the lines will be positioned in the
same place.
To individually
reposition any of the 'Indicator Lines', Left Click on the
Text of the Indicator. The cursor will change, and the text
can be moved from side to side.
(Hint
: When repositioning, keeping the moving cursor in open
chart area will make it easier to position.)
To
Edit the Default PTP Calculation Tool Values
Right Click the 'PTP Calculation Tool'
Alter the setting as required.
Click 'Save'
These setting will then be used for all future times the
tool is used.
Clicking
'Reset' will restore the original default settings.
Clicking 'Cancel' will close the window without making any
changes.
('Apply' is not available in this scenario)
To
Edit an Existing PTP Calculation Tool already on a chart
Right Click the text of the tool on the chart.
The Edit box will show.
Alter the settings as required.
Click 'Apply' and the selected tool will be altered to suit
the new values. This will not effect the default values
for the tool
Clicking 'Save' will alter the default settings.
Clicking 'Delete' will delete the currently selected tool.
To
Delete an Existing PTP Calculation Tool already on a chart
The text lines can be deleted individually
Method 1:
Click the 'Eraser' Icon
Click the line of text to delete.
(Hint : If you hold down the 'Shift Key' all items under
the eraser will be erased.)
If the
last line is deleted the whole tool will be removed.
Method 2:
Right Click the Text of the Tool.
Uncheck the lines to erase.
Click 'Apply'
To delete
the whole tool
Right Click the Text of the Tool.
Click 'Delete'
To
delete ALL PTP Extensions
Right Click the 'Eraser' icon
Check 'All PTP Calculations'
Click 'Erase'
Entry
Point & Initial Stop Lines.
These are extension of the Selected Bar by the percentage
Extension selected.
If the Extension is based on more than one bar then the
extension will be a percentage of the Average trading range
of the number of bars selected, including the selected bar.
Trailing
Stop.
These are extensions of the bars following the selected
bar. The Trailing extension will only increase or decrease
in one direction depending on the trade and will not retrace.
If the Extension is based on more than one bar then the
extension will be a percentage of the Group of bars selected
current bar.
(This is not the same as the Average trading range)
Scalp
Line
This is a line placed at a Pip Value above or below the
entry point depending on the direction of the trade, and
can be used as a profit target.
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Reference:
Q080323a
Written : 23 March 2008
Revised :
TESS Real Time Version 1.0.23
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