SmartTrader Charting Tools: Smart Tools (6.0)Last Updated: January 14, 2020
Smart Tools includes a series of common tools that have been evolved to automate specific processes and functions offering ease of use and accuracy to even the most novice traders.
SmartTrader offers 8 different Smart Tools
The Smart Fib is easily applied by selecting on the high or low of a pivot to quickly identify the fibonacci sequence with one click.
With one click on the high or low of a candle at the start of a trend the Smart Trendline will quickly identify the pivots highs or lows of the trend and draw a line representing the trend.
With one click Smart Support quickly identifies the next 5 levels of Support
With one click Smart Resistance quickly identifies the next 5 levels of resistance.
The Smart Pivot with one click identifies the average of the high, low and closing prices from the previous trading day.
With one click simply apply encapsulations to identify the market values reported for the day on any lower timeframes.
With one click simply apply encapsulations to identify the market values reported for the week on any lower timeframes.
The Candle Overlay allows for a quick ability to create an overlay of any other timeframe on the chart selected.
How to use Smart Tools
Analysis is more intuitive with Smart Tools. Smart Tools are accessed using the Drawing Tools Navigation Bar located above your Charts.
Select the small arrow on the “Smart Tools” icon
Select the Smart Tool desired.
Depending on the Smart Tool selected, follow these steps:
Move your cursor to the desired Low or High candle wick, and click to activate the SmartFib Tool. This click location determines the start point of your Fibonacci sequence and acts as the A-Boundary for the first Fib. All subsequent fibonacci’s will be plotted automatically, considering the A-Boundary is not broken by a future candlestick.
Smart Trend Line
Move your cursor to the desired Low or High candle wick, and click to activate the Smart Trend Line tool.
Select to see the 5 most recent levels of Support on your Chart
Select to auto-detect the resistance levels on your selected chart
Select to auto-detect pivot points on your selected chart
Select to apply encapsulations that identify the open and close of the daily timeframe on any lower timeframes.
Select to show a box around candles that starts from Sunday market open and ends at Friday market close. For example, if the timeframe on the chart is 8 hours, then when this tool is selected a box will encapsulate all the candles from Sunday 5 pm to Friday 5 pm.
Use this Smart Tool to show on your active chart the candles from a higher timeframe.