HTF Anchored Fan

Similar to an Anchored VWAP, this lets you click a bar on an Daily, Weekly, or Monthly chart to add an "Anchored Fan" which displays lines at up to 6 levels above and below the chosen Anchor Point. Useful to measure the retracement during swing moves.

You can reposition the fan by either hovering over the anchor or by clicking the name of the study to "activate" it, and then dragging. You can also change the Anchor Point in Settings.

By default the anchor uses the bar Close, but you can change this manually in settings OR you can use the fancy "Auto high/low" mode which is handy if you are mainly dropping the fan on local swing highs and lows.

The default line measures were chosen for ES (Futures) but the study should be usable with nearly anything as long as you adjust the settings to something appropriate for the ticker. If you want to use this on NQ, for example, it would be reasonable to multiple each of these settings by 3.5 or so.

NOTE: If the fan is way off the left side of the chart it's generally easiest to use Settings to move it back to close to "now".

See also: Intraday Anchored Fan