![]() NOTE: do not re-select the tool from the toolbox as it will apply a new anchor label.Īdd New Label: Once the first TPL has been added to the chart left-click this action to add additional labels which are calculated from the previous label.Ĭalculate Future Date: Use this option to place a label at a projected date in the future. To add additional labels click on the existing label and select the Add New Label option from the tool's Action menu and click on the second point Select the TPL tool from your toolbox and select the initial anchor point. For a complete list of available labels see the Properties section below. The subsequent labels calculate the range, bars, and calendar days between each label, and the third label also calculates the price retracement between the first two (ie 43.29% after 11 trading days from Label 2). In this example the initial anchor point was placed on the low at 5724.80 (note: only the date and price will display on the first label). TPLs are often used as an aid in identifying market cycles, and to use this tool to its full potential, it is necessary to apply a number of TPLs to the one chart. The Time Price Label (TPL) tool calculates time counts, price levels, and retracement information at selected points on the chart. ![]()
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