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Drawing Price Channels

Selecting P-Channels from the Trend Line Functions menu enables you to draw Fibonacci, 1/3rds, or custom price channels. To draw price channels, you must identify two significant prices. You should draw a trend line through one of the two significant prices. This trend line serves as a base line for the price channels.

The type of price channels rendered depends on the parameters you set in the P-Channels window. The default price channel type is Fibonacci. To display a 1/3rds or a custom price channel, you must change the parameter in the Predefined field in the P-Channels window. For more information on the P-Channels window, see P-Channel Options.

To draw price channels with the keyboard, follow these steps:

1. Press u to select a base line for the price channels.

2. Press ` to display the Trend Line Functions menu.

3. Select P-Channels.

The trend line cursor changes to a pencil.

4. Press the arrow keys to move the pencil to the point at which you want the price channels drawn.

5. Press f.

The price channels are drawn.

To draw price channels with the mouse, follow these steps:

1. Click the right mouse key on the trend line you want to use as a base for the price channels.

2. Display the Trend Line Functions menu.

3. Select P-Channels.

The trend line cursor changes to a pencil.

4. Drag the mouse to move the pencil to the point at which you want the price channels drawn.

5. Click the left mouse key.

The price channels are drawn.

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