Node-Line Tool

[sragone]

Hello,

I would like to make a request for a new drawing tool that I call a Node-Line tool. How this would work is that you would select the Node-Line tool out of the components section and left click anywhere on the chart which would establish a node on the chart and have a line that would dynamically stretch from the node to your cursor point.

When you left click the chart again, another node would be established and a permanent line would be drawn between the first two nodes. From the second node, another line would dynamically stretch from the new node to your mouse cursor. The line styles of course would be selected by the user.

You could continue this ad-infinitum, drawing as many nodes and line segments as you want.

When you want the process to end, you would simply right click your mouse which would then set the last node and finish the last segment with an arrowhead on the final node or just a line segment with no arrowhead depending on what the user chose in the properties section.

The advantages of a tool such as this would result in much faster visualization of your market analysis and potential market direction. Applications of this tool could be used in:

• Tracing out Head and Shoulders or other classic chart patterns
• Elliott Wave analysis
• Harmonic Patterns
• Faster trend lines, etc.

In addition to selecting this tool from the components, perhaps you could also allow the user to use a keyboard shortcut to dynamically toggle the mouse cursor to a Node-Line mode.

I hope you might consider adding this tool to a future update of MotiveWave.

Thank you for your time.

Shane

 

[MotiveWave_Leigh]

There is already a component in MotiveWave like that for Elliott Wave in the Tools Dropdown menu on the top tool bar. You select Elliott Wave from the Tools dropdown menu, then the specific pattern you want to draw, then you left click on the chart at each point you want until you've completed the pattern. Lines are automatically drawn between each point.

There is also a similar component tool for Gartley/Harmonics in the same Tools Dropdown menu. All of them have a keyboard shortcut.

If you have specific patterns you would like to request be added to that tool menu (like Head and Shoulders?), please let us know which specific patterns you are referring to when you say classic chart patterns.

As far as faster trendlines, can you explain in what type of situation you'd be drawing multiple connected trend lines not associated with Elliott Wave or Gartley/Harmonics?

You can already create custom tools for faster use, like creating a specific colored line or arrow (see the video tutorial here):

 

[sragone]

What I was looking for is similar yet different. As it stands right now, I do understand how you could create a custom tool such as the green line in the video, select the line, draw a segment - select the tool again, click on the last node, draw your segment - and so on.

What I was proposing was to create a node line tool whereby each segment was already chained to the previous segment (and create as many segments as you wanted) with the option to dynamically end the last segment with let's say an arrow, without having to select the line tool over and over again from the tool bar to complete your drawing.

A similar tool of this kind was found in another platform http://education.trackntrade.com/en...ser-manual/charting-tools/multi-line-tool.htm

Unlike the pre-built patterns such as Elliott Wave and the Harmonics, the node-line tool is more generic and would not replace what is already inside of MotiveWave, but this is just the way I tend visualize the motions of the markets. I just felt a tool like this would speed up the flow of my analysis.

Now that I think about it, is there a way to select a line tool just once and draw line segments over and over again?

I could also use the SDK to try to code something like this myself.

Anyway, thank you for your reply and have a great day.

Shane

 

[MotiveWave_Jason]

Hi Shane,

I can add this to the feature request list.

If you go to Configure > Preferences > Chart there is an option to disable Revert to Default Tool. So once you draw a line it will stay on the tool you're using instead of reverting back to the Drag/Pan tool.

 

[moe]

What I was looking for is similar yet different. As it stands right now, I do understand how you could create a custom tool such as the green line in the video, select the line, draw a segment - select the tool again, click on the last node, draw your segment - and so on.

What I was proposing was to create a node line tool whereby each segment was already chained to the previous segment (and create as many segments as you wanted) with the option to dynamically end the last segment with let's say an arrow, without having to select the line tool over and over again from the tool bar to complete your drawing.

A similar tool of this kind was found in another platform http://education.trackntrade.com/en...ser-manual/charting-tools/multi-line-tool.htm

Unlike the pre-built patterns such as Elliott Wave and the Harmonics, the node-line tool is more generic and would not replace what is already inside of MotiveWave, but this is just the way I tend visualize the motions of the markets. I just felt a tool like this would speed up the flow of my analysis.

Now that I think about it, is there a way to select a line tool just once and draw line segments over and over again?

I could also use the SDK to try to code something like this myself.

Anyway, thank you for your reply and have a great day.

Shane

did you make that nude line ?