Master Think or Swim (ToS) Drawing Tools | Trading Tutorials

i'm going to be showing you how to master all of the drawing tools inside of thinkorswim do you ever wonder how it is sometimes that i can just double click and get a perfect price level just like that i'm going to be showing you all of that and more so we first need to know how to actually access all of our drawing tools now there's two fairly obvious ways and a third way which we'll cover towards the end of the video the two obvious ones are first in our drawings drop down menu and then lastly if we look at this icon right here mine is going to be the hand looking icon right if i pair that up with the icon happening down below here we can access the same set of tools so i'll show you that now if we click the drawings drop-down i need to navigate to this sub-menu called drawing tools and now we get all of our different tool options again i can accomplish the same exact thing if i come down below again it's down here in the right hand corner and i click the same icon that was here in our next to our drawings tab right so if i click on that you'll notice i get the same exact pop-up menu now the tools we're going to focus on primarily are the first four right so we have the hand looking tool the computer mouse and then a few different line options these four are the ones that you'll be using the most i can guarantee that right off the bat we are going to talk about all of our other tools but we're going to spend the most time on these for first four the most important four the first two the hand and the computer mouse looking icon are going to be the pan and the pointer functions now the pan tool allows us to just move the chart back and forth we can go wherever we want but one thing you'll notice if you try to move up and down we are constrained now how do you allow the mouse to move the chart up and down we need to unlock our y-axis here so notice as i pan the chart it's going to adjust for all of the candlesticks but if i set the chart to manual mode and you can do so up in the top right in this icon if i click here come down to manual and set it to manual i can now move the chart up and down but as i pan it's not going to adjust that y-axis for me and i need to be diligent about remembering where my candlesticks are actually forming so although i have the freedom to go anywhere just remember if you're scrolling it's not going to adjust automatically i'm going to go back and set this to auto to sort of explain the pointer function right that's our next movement tool if i click on this one the pointer it looks like a computer mouse now if i click and drag with this tool you can see i'm highlighting some of the chart and if i let go it's going to zoom in on whatever section of the chart that i highlighted now again if i try to zoom up and down right highlight up and down it's not going to work but i can unlock it once again top right come into this little drop down and set the chart to manual mode and now i can zoom in top to bottom as well as left to right right so there we go i can also draw boxes something like this to zoom in on a specific piece of price action so very very flexible here with that pointer tool and what you can actually look at i'm going to set this back to auto and sort of make our chart look reasonable once again so there we go and now we'll get into our actual drawing tools the ones that will put lines on your chart we're going to start with the trend line tool and get pretty deep into it but most of the settings here that we'll cover do apply to the rest of our drawing tools so we'll activate the trendline tool and right off the bat you'll notice that our cursor turns into a pencil that is the correct thing that should happen when your cursor is a pencil it means you will be making a drawing on the actual chart if i click once to anchor a first anchor point it brings up a little box now just notice as i move this trend trendline around all the information in that box starts to change right but just remember that box for a moment when i click the second point of the trend line it disappears and now we have a red line on our chart it's it is in fact a trend line but it's not really customized maybe the way that you want it so how do we actually do that is the question you're going to hover over the trend line right click and come into edit properties and this is going to bring up a dialog box where we can pretty much change anything we want about this line i'm going to first you know first off change the name we'll call it test and i want to do this for a specific reason because you'll have a number of different trend lines sometimes and you want to know which one that you're looking at you can give it a name to clear up any confusion but as we'll see in just a moment the name on the trendline will never really be shown unless we click into this dialog box after that we have a few options of how the line should actually look what properties it should have so we can put an arrow on either end or no arrow at all for the sake of the video we'll put one on the left hand side but again just know you can put an arrow wherever you'd like so turn that on and label position if you remember that information box that popped up when i clicked the first point and all the values changed that is our label so right now it's set to on the left now what does on the left mean it simply means that if i move this dialog box here for a moment our label will be anchored to the left hand anchor point of the trend line if i drop it down we have on the right and in the middle and as you guessed it that simply means it will anchor in the middle of the trend line or at the right hand anchor point next up the show label option is going to give us the opportunity to actually see that information box and by default it's always set to never i'm going to just put label on the right for now so it's set to never by default we can either turn it on always on hover or never so we'll put it on hover for now and what that means is as we hover over the line you can see it gets a little bit brighter this little box will pop up but our label that information box will also pop up when we hover over it you can see it gets dim when i hover off brighter when i hover on left extension means that this line will continue to the left forever now if i turn it on we won't be able to see our left hand arrow as distinctly so for example sake we'll keep it off but we will turn right extension on which as you guessed will extend the line to the right forever now here's where we can get pretty specific with the values of our line where we want it to start and where we want it to end the value itself is going to be the price level so let's say see you can see here i had 374.98 let's say i was really going for 375 as the value and let's say i wanted this line to start on the 12th instead of the 11th so that's going to adjust it in terms of the time access you can also get very specific with the hour that it was set so we'll just make it 1530 a nice round number the endpoint can do the same exact thing we'll set this to 377 the whole dollar instead of that 377.10 and we will change the end date here to the 15th instead of the 14th and once again we'll just bump this up two minutes to be 1250 on the dot now here is where you can change all the visual aspects of your line you have curve properties here which give us the ability to change color style and width so right now we'll just change this to a crazy color if we click into more we have all of these options here but even further than that you can change the hsv the hsl all these different you know color methods color spaces that you can work in and change the value to whatever you want so we'll make some crazy red up here maybe we'll click actually that's too similar to what we have let's go to rgb and get a crazy magenta there we go we will click ok now we can see here that the color has changed you can also set the style of the line to solid dashed or dotted for example sake will go with dashed and again the width now typically i prefer to have a one width and i'll show you how i set mine up in just a moment here but for example sake we'll go with five so we'll set width to five now all of our settings have been changed we know what should happen when we click ok so watch the red line as i click ok and boom it should adjust a little bit you know we changed our price levels so if we look here the right hand anchor point is right at 375. remember if you pair that up with our y-axis over here 375 is the magic number where this starts our right anchor point once again is going to be the show label on hover so as we hover over it we can see that it is indeed at the 377 mark again pair that up with what's happening right over here and we got our color we have our arrow on the left hand point we're continuing to the right forever and once again as we hover over the line that is when our information box shows up on the right now how do i actually like to set these up for myself if we come and right click back into edit properties how i like to set them up is no arrow label position it doesn't matter because i always keep it off or excuse me never set to never which is essentially off right i find it's a little bit too distracting so off is good left extension will be off right extension will be off and i'll tell you why in just a moment our begin and end values aren't as important because we will just manually click them and then curve properties here's how i like to set mine up i like a cool gray on top of a black background and i prefer a dotted line with a width of one that way they're differentiated from my price levels the horizontal levels now once you have this set up the way you'd like just click on save as default and you'll notice reset to factory default is grayed out right now if i click save as default it pops up because now this is going to be the default and if i reset we would just be going back to that simple uh red line that we started with so i'll click ok it should change the properties you can see the line is now much more subdued and how i like them on charts if i go ahead and click at an anchor point and drag it out you can see i get the information box but as i click the second point it retains the same exact you know properties as the line we just set here because we saved it as default and that box goes away the information box goes away because i set that to never show even on hover now one thing that's pretty important here we showed you how to get very precise with the actual data points that you're using there's another way that you can do that if i just remove these lines again you can just right click remove drawing right click remove drawing there's another way to get very precise with your drawings if we come into the gear icon in the top blue bar this is going to allow us to open up our settings and here we have an option to snap our drawings to specific points now i will just say that i leave mine to none i do not like the snap personally i find that it makes uh you know drawing trend lines a little bit too difficult i like to have a little bit of wiggle room but if you're someone who likes that you can set your snap to a number of things you can go to the bar center which will be smack in the middle of the candle ohlc which means it will snap to the top of the wick the close the high excuse me just any of your ohlc values right open high low and close we can also choose tick which just just means you know any dollar value or any value that shows up on the y-axis which is almost equivalent to none so for example sake we'll go to ohlc which is going to snap to the top or bottom of our wick or the top or bottom of our body if i click ok you'll notice now if i go ahead and click like here and then i click you know get close to clicking here you can see it kind of jumps to the lower end of that wick see it jumps there or it jumps here it can jump to the close in this case of the red candle if i come to the highs you can see it snaps to that high of candle if i come backwards in time again you can see it kind of snapping so you can set this however you'd like if you prefer to be precise again it's really up to you and how you like your settings again i do not like mine like that so i'm going to go ahead and turn that back off now everything else from here on out should be simpler because we've gone through the majority of all of our settings so i'll turn that back off and now we'll hop into our price level tool which is the second um you know it's the dollar sign with the line under it and i believe that this is probably the most used tool in the entirety of the platform right so we'll click on that and we already know how to adjust all of our settings if we click once we get this sort of red line on here which again is the default and it's okay but it's not telling us all the information that we want and it's not as custom as we'd like so if i right click come into edit properties it's a very very similar thing now here if i give this price level a name we'll call this one test once again you'll notice as i turned on the label on our other drawing the trendline that test name never showed up but if i turn on the name here for our horizontal price level we can actually make this show up once again i'll keep left extension off i'll keep right extension on show name i will show the name on the right and whenever you're drawing lines i would really advise you to show the name show the value show whatever on the right hand side because as you start moving through time your left anchor point may get lost somewhere in the chart right so on the right is always what i would advise now if i click on show price this is going to show this value here on the actual price level so this is how i set mine up i always turn that to once again on the right not the left and um you know we've already covered the majority of all these other settings right we can actually fine-tune the value here we can set the date for when we want it to start and end again remember that if we are drawing a horizontal level and the right extension is on our end point in terms of date doesn't really matter curve properties again we can set these to whatever we'd like we'll just set it to green for now we'll make it a dashed line again for example's sake and we'll put a width of 3. so we'll hit ok now you can see we get a change in the line so we have the green we have the dash here's our name remember we have test showing up now and actually a price value in parentheses so this is all well and good but how do i like to set mine up how do you see it in the weekly watch list in my own analysis so on and so forth i'll show you those settings right now edit properties i'd never really name them for a reason you'll see in a moment left extension is always off right extension is always on show name is always set to do not show really i don't really you know name my price levels because the price level itself is actually enough information for me so i always leave show price to on the right the value again this is going to depend on the level that we're drawing in terms of curve properties i always keep them as cool gray solid lines to differentiate from the dotted one we used as a trendline and then our width i always put to one now once again remember i can save this as a default and now if i click ok it will change this line and any line i draw in the future again now i can just simply double click and i get a line i have a gray line extends to the right forever and i have a price value attached to the right hand side now one thing about this if i right click on the line and i come into cancel right extension that's pretty much going to be a shortcut save you a little time from going into the edit properties and turning right extension off but because i double clicked in the same exact spot when i click cancel right extension what do you think is going to happen essentially we're going to have a point in time with no sort of horizontal level so watch this cancel right extension our line disappears because i clicked in the same exact spot and we're just left with a little price label here at that specific point that i clicked so going forward if i want to do something like that i will remove this drawing for now but i will have to click once and then drag my second anchor point out a little bit remember if right extension is on it doesn't really matter where we place this point but if i click now right click cancel right extension now my line has been constrained to those two parameters we have here and here because that's where my second click was again a few more options that you can explore in here are extend to the left does the same thing but to the left we'll turn that back off and as well as you can duplicate the drawing right so if i want the same exact line the same exact width i can just come in here click duplicate drawing i get the same exact thing and now i can put it wherever i'd like now what about this option as well we have activate drawing now what this is going to do is activate the properties and i can once again move our second point wherever i'd like i can move the first point wherever i'd like basically i can do whatever i'd like with the line without having to draw a brand new one you'll also notice that our price value adjusts as we move up and down the y-axis the price axis so i can click off of it to save that another way that we can do the same exact thing is if we come back into our move tools and get the hand the pan tool and if i double click on this or just single click excuse me i get that activate you know the activated properties once again so i can do whatever i want with these points remember that if you have this set to snap to the high basically the ohlc values of our candles which is open high uh close and low i'm probably saying that out of order but it will snap to the bottom of a candle perfectly it will snap to the close perfectly the high or the open regardless of where you're trying to put it you can get that perfect snap to the level again i prefer to keep that off but now we know how to access a majority of our settings here and tweak all of you know the appearances and the actual way that our trend lines as well as price levels work look and we can save them as a new default so we have all the basics out of the way again you can remove all of your drawings by right clicking remove drawing or if you want to clear everything off of your screen you can simply come into clear drawing set so if i click this everything on our screen will disappear for the moment so go ahead and click clear drawing set we get prompted are you sure i'm going to click yes and everything disappears so now we're with a blank slate and we can move on to more of our sort of you know maybe you want to call them advanced i would just call them sort of useless tools right we have the ability to draw a time level all this is going to do is draw a level vertically so again by default it's set to red if we click edit properties we get the same exact settings that we would have had with any of our other tools that we've already covered we'll cancel that our next one will be the text tool this one is actually kind of interesting if you want to make a note on the chart you can click you can come into enter note we'll just say this is a test and we will click ok now when that happens we get our text on the screen but what if we want to edit the actual properties again come in right click edit properties we can change a number of things we can name the text note edit the text display all of the text the first line only or just an icon again you can turn this arrow here on or off you can align the text i mean poke around with these options it's really quite impressive what you can do here you can even change the font color size all of this good stuff okay and remember you can always save something as a default if you would like i'll cancel that we'll come back into our menu the next one will be our arrow tool this is simply going to draw an arrow right so if i click once i just get an arrow click once i just get an arrow the properties here are again very similar we can have a name a value with a date and then we can set the direction color as well as size you can go all the way up to extra large which i still feel isn't really that large so we'll click ok and you'll notice it grows a bit but really not that much so do with that what you'd please next up oval and rectangle are going to be extremely similar if i click on oval we'll just go through the settings here i get two points i can make this really long really tall kind of circular if i space it out correctly and by default it is going to be a white circle but most importantly keep in mind that the circle will appear behind the candlesticks it's not going to cover it up it will just float behind there so if i right click edit properties once again i can change the name all of the points and the color now it's important to note here that if you make the color the same as your candlesticks it will appear as those you know as though those candlesticks have disappeared but in reality again the oval is behind your price action so always remember that same thing happens with our rectangle so just for example sake we'll draw in a white rectangle by default there next up we have our channel right so this is going to have the same exact properties pretty much as our trend line i'm going to go ahead and clear this drawing set again you can do that by right clicking coming into clear drawing set or if you forget that maybe you come into the drawings tab and you can just come into remove drawings and then you can clear the drawing set you can clear old drawings which will be specific to a time period that you set so we'll explain that quickly if we click old drawings we get this dialog and we can remove any drawings that are older than a specific number of days now there's nothing old on this chart so you can see here in this line of text it says six drawings zero old will be removed and then you can of course set notifications for you know if there are a certain amount of drawings on your chart maybe you want to clean it up you can notif uh set notifications here as well but that's how that would work you can also in this drop down which is pretty cool remove specific uh types of drawings so if i come back into here i can remove just the time level i can click ok you'll see just the time level gets removed if i come back in remove drawings i can remove the arrows right so if you want to remove a specific drawing type you can do that in this menu but again we're just going to come in and clear the entire drawing set and start first from scratch for our channel tool again the channel will act almost the same way as our trend line tool right you can see everything's very similar and if i click another time to anchor that point it looks like i triple clicked so hang on click one click two and then i drag so it's a little deceiving there so if you click and you don't see anything happen make sure you drag and then you'll get that second portion of the channel now i can move it above and below and you can see as we extend into time our channel is getting a little bit longer as well so keep that in mind you can edit all the properties in here as you would with a regular trendline with anything else label positions we have name extensions begin and end the height this is the sort of difference in the channels right the the distance that's here so that is your height you can again change the colors and here's something pretty cool too with our channel you can actually put in a 50 mark so that's going to be your coefficient 0.5 i can check that off once again i can change the color we'll just make this a yellow because it's 50 we'll change the style to dotted line and keep the width at 1. again you can save anything as a default always remember that that's a really powerful feature here so you don't have to edit your settings every single time so we'll just do it for now we'll click ok and now we have a channel line smack in the middle right 50 of our channel if we go to draw another one let's say i click once twice drag and we get three times you can see once again that our fifty percent mark is showing up because we saved that as default now another way that you can undo your drawings is by simply coming in here and undo whatever drawing it is that you just did undo edit channel and then we'll come back in and undo add channel and a shortcut for that on your keyboard for any of your keyboard shortcut people is going to be control z alright so we'll move on through the rest of sort of our tools we have a regression line this one is going to watch what happens here i'm going to click way up here but it's not working if i click in the candle though it is working so a regression line is something that's going to require you to sort of click within a candlestick to set the first point and as we move what it's doing is taking a regression essentially of all the candle values that we've put in so as i move it you can see it flattens and adjusts to whatever it you know time it is that i'm sort of extending through the way you would use this you know is if you're maybe a mean regression trader you watch for prices to regress right back to the line so again you can edit all the properties the way you would with anything else you can set the length and here you can also set the color and the end point all that good stuff as we could with any of our other drawings what we can also do is set where we want to use the value from which is here in our price tab if i drop this down you can see we have all of the different values and even sort of an average price for the day the high and the low over 2 which is going to be the middle of the candle so if we click that watch the red line it will adjust as i click ok you can see it slightly tweaked there because we're using a different calculation next up we have the regression channel again this is one that you might use it's very similar to the channel but it's going to be a regression line as our starting point we'll draw in something very similar but now you'll notice we have channel top channel bottom and the regression line through the middle you can change those values once again in here with our coefficients all of the other stuff applies we once again have the ability to change the mode of the calculation of the coefficient as well as the regression line in the first place okay so very very flexible here if you're going to use a regression you probably know the math behind it right so you would be familiar with all of these values as well here's how you access them and change them next up we will once again clean the chart up so clear drawing set okay and we're starting from scratch the rest of these tools after our fibonaccis are going to be in my estimation fairly useless but we will cover them fibonacci retracements are first this is something that i use fairly often if we click at a high and drag you can see we get all these different levels that are drawn for us how do you edit which ones you want to show up this is a fairly common question if we once again right click come into edit properties here is where we have all of our options if we don't want something to show up we can simply uncheck it from our visible checkbox right and again these are going to be all of your retracement levels i prefer to focus on the golden one so the 38.2 the 50 and the 61.8 everything else other than one i will turn off because one of course is going to be the bottom or the top of the move you can set your colors here you can once again maybe you want the 50 to be yellow and maybe you want that to be a dotted line and we will save this as default if i click ok you can see it cleans everything up now we have that yellow dotted line for the 50 and all of our values are the ones that we want it extends all the way to the right but not the left again if we come into here right click we can also just cancel or the right extension or extend all the way to the left so nice little shortcut here if i uh you know extend to the left boom there we go if i cancel that left extension there we go i can also on the fibonacci retracements do something like this right click on a level and then hide the curve of 61.8 this is something that again is a little bit of a shortcut if you don't want to jump all the way into that menu so hide and you'll see it goes away if i want to turn it back on though i do have to go back into our edit properties there is no turning it back on from the shortcut method so just keep that in mind if you plan on just simply looking at something and then comparing to uh when it's off so we'll next go over our fibonacci extensions which are going to be extremely similar uh just require one more click the fibonacci extensions here we'll start from a low point we will go to a high point and now we will go to a pullback point and what this is going to do is map out our same exact sort of retracement values but to the upside off of our low or in the case of a down move right if we do something like this down and then maybe here's our pullback low it will map them out lower how do we edit these properties again same exact thing i hope you can really poke around with these settings right what the point of this video is to make you aware of where the settings are and now you have the ability to instead of just being locked into me showing you what i like to do you have the options to change this to whatever it is that you would like so once again you can change everything in this menu from the coefficients to the colors style with anything you name it and you can pretty much change it here in thinkorswim we'll click cancel to get out of that we didn't make any changes we will clear up the drawing set and now we'll rapidly go through the last few on our drawing list the next you know these ones again i'm not really sure why you would use them um if you're maybe into you know some if maybe if you're in tune with some magic source you you know the sequence means something to you hey all the power to you but again i don't know why you would specifically use a fibonacci sequence through time but that's how you would do it the next one will be a sort of a weird one right it's going to be the same thing but our extensions will be much different based on how we draw this right so we can see that extends you can again change all the percent values whether or not the label and the time shows on the top edit properties again you pretty much have unlimited options in here show coefficient again those are our labels on the bottom show date those are the labels at the top you can turn them off at the bottom i mean you name it you can pretty much do it here once again inside of your edit properties menu what else do we have under some of these more weird tools this one um let's see what happens here so pretty much the same thing right extensions through time didn't really do much different there again i'm using my control z keyboard shortcut to edit and undo those things that i've just done uh this one the fibonacci fans again maybe these have some use to you as trend lines support but watch if i do something like this to do the original dashed line as trendline support we have anchor point touch one two when it's violated you know no support no support no support you know maybe i don't have this configured properly but again i would prefer to just draw in manual trend lines which you know how to draw in and change all the properties too so we'll just remove that so fibonacci fans the fibonacci spiral this is probably the most useless tool in the entire platform right like what are you going to do with a spiral like that again maybe you're in tune with something i'm not but i'm not sure what the use of that next up we have the andrews pitchfork now this one's kind of okay i suppose if you draw in a trend line like this and then you do something like this maybe you're trying to gauge you know where this pullback if it bounces where it would go in terms of a channel there you go there's kind of your channel but again you would just draw that in with a trendline or the channel tool in the first place not entirely sure why you would need andrew's pitchfork for that next up we have in the last one is going to be our cycle brackets now this one maybe it has some value to you basically what you can do is set this hump to whatever width you'd like right and this is in terms of time not in terms of price but in terms of time so if i click that's cool i get these humps but let's say you want to be someone who looks at let's say 10 candles in a row and then analyzes the next 10 candles in the row if i come into edit properties on this specific one i can change the draw as to lines and what let's say again we want to look at 10 candles so i'll change the period to 10 and we will set you know everything else is fine we'll save that as default we'll click ok and now we have 10 candles in a row that we can sort of look at so 1 2 3 four five six seven eight nine ten ten cycles of candles evenly divided up so thinkorswim will show you weekly amounts right five candle increments monthly increments yearly increments but if you want to make a custom increment maybe this is the tool for you so those are all of our tools right we know how to access them from the bottom we know how to access them from the top but what about that third way that i was telling you about in the earlier part of the video well let's go ahead and talk about that now if we come into our settings tool and we come into again the bottom settings and we look at this option right here called my tools right now it's set to off if you go ahead and turn that drop down on we can see on each chart or in a single panel and just for the sake of this example turn on on each chart so we'll turn that on we'll click ok and you'll see at the very top of our chart it just disappeared we get a drop down right so there we go i have this drop down now that i can pin so i will turn that pin on which means it will stay up there i don't need to hover anymore and i get all the different tools up here that i want if your pinned bar does not show any of these tools by default you can change that by clicking on the gear icon in the top right if i click on that i now have the option to edit any of these tools so the four most popular maybe we want those up there we have pan we'll change this one to change button action drawing tool pointer we will set this one to instead of arrow change button action drawing tool trendline we will add a button drawing tool and we will add the price level right so there are our four most common drawing tools that we use added to the top now you might have seen here as i click drop down you can do almost anything you want you can make this a study button a study set that you maybe have saved a style that you've maybe have saved i mean you name it you can pretty much do it with this pinned bar but in terms of drawing tools that's how you would populate them up there i'm going to click done and now you can see i have the pan shortcut now i have the hand and i can move price anywhere because remember we are on manual mode maybe i want to quickly switch to price level i just click that i have the tool now i can just double click and get my price level i can double click down here set another one we know how to edit all the properties there and that's pretty much the third and final way that you can get into all of your different price tools right it's pretty convenient pretty handy if you don't want to come all the way to the bottom right click the menu and then pick something from here maybe you just set the ones that you want up here in the pinned bar now one last thing before i go i want to talk about drawing sets because we're here to master the entire drawing set or the drawing tools of thinkorswim i don't want to leave you hanging with this specific drawing now or the drawing this drawing ability right if we come into the drop down of drawings we have drawing set right create drawing set now what is a drawing set think of it as a group of drawings that you've made it's a set of drawings and you can cycle through the drawings if you have different things that you'd like to look at so if i go ahead and click on create drawing set i have the ability to name it so we'll call this one test for the sake of the video i'll click create and now i have a blank drawing set there's nothing on here because i'm starting from scratch and the way we know that we're on the test drawing set is if we look in the bottom right hand corner we see drawing set set to test now anything that i do here let's go ahead and do something crazy uh we'll break out the spiral for you know god knows what reason we'll put that on there uh we'll do some other crazy stuff with a fibonacci extension just make something you know that is definitely only going to be in this drawing set so kind of madness going on in the screen it doesn't mean anything but the power of drawing sets is if i come into our drawings drop down and i come into drawing set it's the first option and i set this back to clean which isn't going to be clean it's going to have two white price levels on it so i'll set it to clean there we go right i have that prior drawing set all of the madness saved under test and here on clean i just have these two white lines if i truly want to make it clean again remember i can come into right click clear drawing set and now it truly is a clean drawing set if i come into drawings drawing set and put it to default these are the price levels that i'm watching every single day this is where i do the majority of my analysis if i go to a daily chart you can see i have all my levels here uh again this is what i use you know how to set all these things up you know how to make your lines yellow you know how to change color with you know the dottedness if you want it dashed so on and so forth but that is how you access the drawing sets and why they're pretty useful once again we'll go back to test to illustrate that once again it did save that crazy drawing that we did we'll go to the 30 minute time frame to make it look slightly better if you can make this look better at all and the last thing before i go is the second way that you can change your drawing set is once again in the bottom right hand corner it's going to be a shortcut one last click if we click on that i can change it to back to default i can change it to clean and once again i can change it to test so we've pretty much covered all there is to know about our drawing tools we know how all the tools work we know how to change all of the properties and we know how to secondly or maybe thirdly put up this pinned bar up here which can be very useful it's something i'd really encourage you to look around with play around with it see if you want to put tools up here see if you want to put study sets up there do whatever you'd like but you now have the ability to do so which is pretty powerful and then lastly maybe this is third or fourth depending on how we're counting we know about drawing sets right very important that you can switch from either a clean chart to a chart with levels or a chart that you maybe like to do crazy drawings on who knows you now have all of the tools in your tool belt to be able to do anything you want and you have now mastered all of the drawing tools inside of thinkorswim

Channel: Trade Brigade

Views: 31,857

Rating: 4.9828768 out of 5

Keywords: master think or swim drawing tools, think or swim price level tool, think or swim tools, drawing tools in think or siwm, how to use think or swim, technical analysis tools, think or swim technical analysis, how to draw in think or swim, think or swim drawing, think or swim drawing tools, think or swim tutorial, think or swim trendline, thinkorswim how to, thinkorswim drawing setup, thinkorswim technical analysis, thinkorswim fibonacci, thinkorswim basics, trading tutorials, tos

Id: cu9bie6Et8w

Length: 38min 22sec (2302 seconds)

Published: Sat Jan 16 2021

Reddit Comments

[u/Desert_Trader]

You can also middle click to get the tools pop-up

[u/Afternoon_Charming]

Pinning them to the top of the chart was a game changer for me. The scroll wheel click bringing it up is also 👍

[u/Afternoon_Charming]

Matt can you share how I can get your painting tool to work so I can mark up my charts like you were?

[u/wrecker0957]

Been using tos for years and still learn new stuff on it all the time...thanks...on my dropdown tools I just have the pointer and price line with additional buttons for different chart layouts...wish it would let you have more buttons.