Step-by-Step Solution

Defining the Series

  1. Clear any entries from the Configuration window by selecting File>New from the menu bar, or by selecting the New button from the toolbar.

    Select the Series tab in the Data Builder and then select the Search Database button. To locate the symbol, open the folders for Futures>NYMEX in the Tree View tab. To choose the symbol, right-click on the symbol CL and choose Select. Once the symbol has been selected, the symbol and the symbol's default criteria display in the Worksheet. The Column setting for CL is Close. Select the Configuration button to return to the Configuration window.

    There are two methods for adding a symbol to a worksheet: 1) Right-click a symbol and choose Select, or 2) Double-click on the column for a symbol.

  2. In the Configuration window, change the Column setting from Close to Bar in the Data Builder. Verify that the Chart Type pull-down changed from Line to OHLC (Open, High, Low, Close).

  3. In the Date Options pane, the default date criteria are set for one year ago from the present date, or a change period of one year. The Change Period and the Start and End dates are separate from one another. In this example, use the start and end dates by unchecking Relative and Today, and changing the start date to 01/01/1999 and the end date to 12/31/1999. Using start and end dates will override the Change Period, and conversely, using the Change Period will override the start and end date. Select the Chart button from the toolbar to chart the Worksheet.

Using Chart Controls

  1. To turn on the Chart Controls, from the menu bar, select View>Chart Options>Controls.

  2. To isolate the period from April 1999 until August 1999, toggle Zoom Off to Zoom On.

  3. Place the cursor directly near the Apr99 period of the timeline, click and drag the mouse and a rectangle will appear. Bring the rectangle to the top of the highest bar or to the top of the price axis near the end of Aug99 and release the mouse. Upon release of the mouse, only the selected area will appear in the chart. If you make an error, select Reset>Zoom or Reset>All.

  4. Turn off the Zoom function by toggling Zoom On to Zoom Off.

  5. To draw a downtrend trendline on the chart, first toggle Trendline Off to Trendline On. Connect a series of higher lows from the beginning of May99 to the start of Jun99 (this does not mean that each successive low must be higher than the previous day’s low).

  6. Next, draw an uptrend trendline by connecting a series of lower highs from the middle of Jun99 until the end of Aug99.

  7. Next, use the Mouse Pick function to analyze the move from the highest high in the chart to the lowest low. Toggle Mouse Pick Off to Mouse Pick On. When you select Mouse Pick On, a table appears beneath the chart, displaying the date, the high, low, open and close values, delta and percent change for your selection. Place the cursor on the bar with lowest low in the chart and select the bar with your mouse. Next, move your cursor to the bar with highest high in the chart and hover your mouse over that value.

    Do not select the highest high with your mouse, otherwise it will reset the data values for the lowest lows. You must select the first value you want to see in a chart with your mouse, but only hover over the second value.

  8. Finally, toggle Mouse Pick On to Mouse Pick Off and select Reset All to return to the original chart. Select the Configuration button from the toolbar to return to the Configuration window and select the New button to start the "Problem Solvers" section.