Convert ABC Points

Last modified 13:36, 2 Nov 2012

sitmicon34.gifThis content is provided in support of the Safety in the Market (SITM) module for Your SOFTWARE and may not be applicable to your package. For more information, go to the Modules topic of this help.

Convert ABC Chart Formations

An easier method is to identify, or draw, ABC formations on an open price chart, and then select a particular ABC price formation to be automatically converted into a Trading plan. There are three points at which this may be done: ABC Points Hi-Lite - Long or Short and the ABC Pressure Points drawing tool.

Be aware that the second method does not use automatically generated ABC point calculations, but is entirely user positioned. It should not be used to trade with.

ABC Points Hi-Lite

The ABC Points -Long or Short chart Hi-Lite will automatically identify and tag ABC formations on any price chart.

Select any of these individual ABC formations and right mouse click to open the pop-up menu for each ABC formation.

Select Convert Formation to Trading Plan to create a Trading Plan based on the selected formation.

tpabcpointspopup.png

A Trading Plan Wizard will open, with its first tabbed page populated by the ABC points' details, and other ABC trading levels calculated automatically.

Users can then go to the Entry Plan tabbed page to enter details about their trades.

ABC Pressure Points Drawing Tool

A similar pop-up menu is available for each ABC formation created using the ABC Pressure Points drawing tool.

However, this conversion tool should be used with caution because the ABC formations created using this tool are entirely user defined, and are not plotted based on ABC trading calculations.

A Trading Plan Wizard will open, with its first tabbed page populated by the user defined ABC points' details.

Warning   Only trade using this conversion if you are satisfied that your placement of the ABC points with the drawing tool represents a legitimate ABC price formation

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