Help CenterThe horizontal line tool is an essential feature on TradeLocker that allows you to draw horizontal lines on your chart. This tool is invaluable for identifying key price levels such as support, resistance, and other reference points, which can be crucial for effective market analysis.
For PROP365 traders, using the horizontal line tool can help pinpoint areas of interest on the chart, such as potential entry and exit points. These lines serve as clear markers for supply and demand zones, making it easier to visualize market behavior and inform trading decisions.
The horizontal line tool is a fundamental element of any trader’s technical analysis toolkit. It provides a straightforward way to mark significant price levels, which can be used in conjunction with other indicators like moving averages or RSI to validate trade signals. Additionally, these lines can form the foundation for more complex chart patterns, adding greater depth and context to your analysis.
Select the asset and pick a tool
- Choose the instrument or currency pair you want to analyze on your TradeLocker chart through your PROP365 account.
- On the left-hand side of the chart, locate the toolbar containing the drawing tools. Look for the horizontal line tool icon, which is represented by a simple horizontal line.
- Look for the horizontal line tool icon, which is represented by a horizontal line.
Draw on the chart
Position the cursor at the point where you want to draw the horizontal line. Click the left mouse button to place the line.
The horizontal line tool, when used in conjunction with other indicators on TradeLocker via your PROP365 account, can enhance your trading strategy and improve your decision-making process.