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Line study tools

This section explains all preset drawing tools available for technical analysis in cTrader applications.

Line study tools are a set of graphical drawing instruments available on trading charts. They help traders perform technical analysis by visually identifying trends, support and resistance levels and key price patterns. These tools include trend lines, horizontal and vertical lines, channels and various geometric shapes.

By overlaying these objects on price charts, traders can gain insights into market behaviour, anticipate potential price movements and make informed trading decisions. Line studies enhance chart readability and support a customisable, visual approach to strategy development and trade planning.

The following five tools form the backbone of cTrader’s line study tools, giving traders a robust suite for identifying key price patterns:

  • Equidistant channel draws two parallel trendlines to indicate consistent upward or downward price movement boundaries on a chart.

  • Andrews' pitchfork plots three parallel lines based on three pivot points to suggest support and resistance zones within a price trend.

  • Fibonacci retracement overlays horizontal lines at key Fibonacci levels between a high and low to indicate potential reversal points within a trend.

  • Fibonacci fan projects trendlines at Fibonacci-based angles from a central point to indicate areas of support and resistance.

  • Fibonacci expansion extends trendlines by projecting Fibonacci levels beyond the current range to indicate potential future price targets.