We will study the simplest type of objects - horizontal and vertical lines.
Vertical lines are seldom used in real trade - it is possible to select only certain boundaries of a trend and they are usually used for demonstration.
For installation of the vertical line click on the appropriate icon in a toolbar and after that click in the right place of the diagram. You can select the vertical line a with double click of a mouse. After that, you can bring the shortcut menu, having clicked on it by the right mouse button and having selected the Properties item.
Will Appear a window,where you can change the line name, add description, and also change a color and the line form.
In Parameters tab you can change the only significant parameter - time.
On the Display tab we can select in which temporal zones it will be shown.
You can move the line directly on a graphic. Before it you should select it with a double click of a mouse.
All aforesaid is also the same for the horizontal line.
For its placement on a graphics you should click the appropriate icon or click on the Insertion tab and select "Lines" - "The horizontal line".
It is also possible to select the horizontal line by a double click of a mouse. After that it can be moved, or to look its settings.
Properties are similar to the vertical line.
Most often the horizontal line is used to mark the lines of support and resistance. The line of resistance is usually psychologically important line which can't be overcome by the price.
For example, in May-June, 2015 euro Price concerned the level for three times"one, five thousand one hundred fifty", but couldn't overcome, and began to fall after it.
The line of support is usually psychologically important line under which the price can't fall.
Together they form the channel in which the price can be for a rather long time.
For example, within November-December, 2009 euro exchange rate couldn't fall below than one four thousand eight hundred though several timestimes to this level.
In this case we can say that the price was moving in the horizontal channel. Thus we can see that in case of penitration of this channel the price at once went down, having overcome in three months more than one thousand four hundred pips (euro fell more than to 10% of its price).
Lines of support resistance can become important part of your strategy