Better Drawing Tool For Trend Channels

Drawing a trend channel from support/resistance rather than drawing it from the mid-line.

By starting a trend channel off of the desired resistance or support; you know the channel is exactly where it should be. I find that from there it is easy to find the channel and a mid-line naturally falls in place by being a 50% data input and low and behold it is always in the perfect spot according to the price action.

When drawing from the mid-line first it creates a lot of extra work trying to adjust each end of the channel and move the channel where it should be. Angles can be off, you have to drag and move the channel over and over to get it right and the top and bottom lines are very finicky when adjusting to the desired spot.

**Another cool option would be being able to copy/duplicate drawn lines so you have a clone of a line drawn at support or resistance to be able to form a channel. And from there to take it further you can add a 50% data input to be your mid-line.

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This is needed… I was thinking the same.

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You mean something like this?

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Exactly that! Is that TradingView or something?

Yes it is Trading View, I figured it would be better to have a Visual aid on the post.

Exactly! Nice demonstration. Lol. That would be WAY better. That’s how it should be drawing a channel.

I just realized you can at least duplicate lines… hold ctrl and double left click on a drawing and it will duplicate it. I think this is faster and more intuitive than the current trend line tool (as a band-aid solution for now).

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Oh that’s a nice little trick. Thanks for sharing! Yea that will help at least for now. All it’s missing is a mid line or if they just fix the current trend channel tool itself.

I agree this would be good if they would make this adjustment to the trend channel drawing tool

This has been asked for numerous times but it doesn’t seem like it is being resolved.

It has not, but they just added and new trading tool this last patch so maybe there is hope they will fix this one next. If not i’m going to be upset.

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Still waiting on this update. sigh.

we really need this functionality. Or can anyone take an attempt to create a custom drawing tool for a price channel?

As an example for how to use the Custom Drawing Tools package, I created this. I think it is a little better than the built-in Price Channels tool. You can move each anchor individually, allowing for more precise measuring than the native one. Feel free to modify it!

Update 11/19/21: Works correctly again!

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All I get when I install it is just a channel where I only can change the period look back

Thanks for this. I hope more tech savy folks start creating!

Just wanted to say I started out in Tradovate a year or so ago and I really like almost everything about it, but this problem is a major reason why I ditched it for Ninja.

Having to do everything with the 50% level is amazingly clumsy. It also feels too much like an arbitrary take on trading/price action philosophy being foisted on everyone. Not everyone cares or thinks the same about the 50% level. If you want to base your premises more on series of highs and lows you shouldn’t have to deal with your platform fighting you on it and make you awkwardly click and drag several times to get the channel drawn how you want it. As someone who mostly studies price action, it felt like a deeper problem than just the drawing tool itself. It oversimplifies something that users need total control over.

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That’s part of the reason that we released custom drawing tools - now users will have the ability to build and extend a variety of community tools just like the custom indicators package allows. Also as you may now know, we’ve partnered with Ninja!

This tells me you folks forget one thing – we need better tools, so we are left on our own. Trend channels - a huge part of trading – is left for us to finish? We barely have the tools to trade already. I want to trade, not code.

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Has anyone figured out how to do this using custom drawing tools?

I’m surprised tradovate haven’t built a better trend line tool to be honest, it seems really convoluted to draw from the midpoint rather than the support/resistance.