Absolute Retracement™ Parameters

The Absolute Retracement study also has Date and Time parameters, which identify the date and time of the reference bar. As with any trend line drawing function, the process of drawing a Absolute Retracement study involves selecting a reference bar, and selection specifies the Date and Time parameters.

The Absolute Retracement is similar to the Relative Retracement study except that no search for a prior high/low occurs; instead, the retracement lines are drawn at absolute multiples of the anchor price. Allowable multiples are 0.382, 0.618, 1.382, 1.618, and 2.618. All else is the same as relative retracement.