Tubbs Law of Proportion

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Tubbs Law of Proportion

This tool determines the direction of a trend and draws retracement lines with reference to a fixed period of time.

The time period is set by the user. The first left mouse-click establishes the start point, the second establishes the time period. The tool can then be placed over other similar time periods and the tool will determine the trend and snap the start and end points of the line.

In the following example a three day time period was established, and then the tool was dragged over an upwardly trending price formation:


Notice that the start point snaps to the low of the starting day of the three day period, and the end point snaps to the high of the last day of the period. The retracement levels are automatically drawn.

As the tool is dragged forward to the right it will determine the trend for each new three day period and snap the lines as appropriate:


When the period is established as being in a downward trend, the start point reverses and snaps to the high of the first day, and the end point snaps to the low of the third day. The retracement lines also reverse and plot the range in the opposite direction.
In this tool the retracement levels can be set to greater than 100%.

Properties and Format

Use the variables on the Settings and Appearance tabs to adjust the date range as well as alter the line color, style, etc. This tool uses common tool functionality.

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