Is there a tool for drawing a 45 degree angle on a chart

shots fired · Feb 28, 2013

I have read in this forum that a 45 degree angle is the ideal angle to use on a chart. I would like to draw a 45 degree angle in advance, but I am not sure how close the lines I draw are to an actual 45 degree angle. Do you use any type of tool to assist you in drawing the 45 degree angle? Is there a method you could suggest? Thanks.

kinggyppo · Feb 28, 2013

Quote from shots fired:

I have read in this forum that a 45 degree angle is the ideal angle to use on a chart. I would like to draw a 45 degree angle in advance, but I am not sure how close the lines I draw are to an actual 45 degree angle. Do you use any type of tool to assist you in drawing the 45 degree angle? Is there a method you could suggest? Thanks.

look for gann lines included with some packages

http://ta.mql4.com/linestudies/gann_line

cdcaveman · Feb 28, 2013

Quote from shots fired:

I have read in this forum that a 45 degree angle is the ideal angle to use on a chart. I would like to draw a 45 degree angle in advance, but I am not sure how close the lines I draw are to an actual 45 degree angle. Do you use any type of tool to assist you in drawing the 45 degree angle? Is there a method you could suggest? Thanks.

what software package are you using

Pekelo · Feb 28, 2013

I see someone didn't finish middle school. 45 degree is the easiest to draw, because, well it goes in the middle. You go 1 unit to the right, 1 unit up, and connect that point to the axis...

Or you could just use this:

shots fired · Feb 28, 2013

Quote from kinggyppo:

look for gann lines included with some packages

http://ta.mql4.com/linestudies/gann_line

Thanks for the link, Kingyppo. That's what I was looking for.

shots fired · Feb 28, 2013

Quote from cdcaveman:

what software package are you using

I am using ThinkorSwim, Cdcave.

kinggyppo · Feb 28, 2013

Quote from shots fired:

I am using ThinkorSwim, Cdcave.

in TOS under drawings you could uses fibonacci fans

shots fired · Feb 28, 2013

Quote from kinggyppo:

in TOS under drawings you could uses fibonacci fans

That's great. I have never used the Fib fans before and didn't know what to make of them. Thanks, I appreciate it.

Wallace · Mar 1, 2013

draw a square, bisect the square with a diagonal line, remove square

bootize · Mar 1, 2013

Quote from shots fired:

I have read in this forum that a 45 degree angle is the ideal angle to use on a chart. I would like to draw a 45 degree angle in advance, but I am not sure how close the lines I draw are to an actual 45 degree angle. Do you use any type of tool to assist you in drawing the 45 degree angle? Is there a method you could suggest? Thanks.

Just beware that the actual degrees of an angle drawn on a chart will change anytime you crunch down, stretch out, or alter the X Y dimensions of your chart.