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Auto Support Line

by Caleb, 1177 days ago
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The Auto Support Line draws a support line that starts from the low price of the first bar location to the lowest price value of bars that are comprised between the start and end locations of the support line.

A support line is a line that is drawn below prices; it is a line that shows the area where demand should be strong enough to prevent security prices from declining. Traders usually buy the stock or security when the price is near the support line and sell it when it falls below it.

Here is how it works:
- Select the auto support line item (In the bookmark panel, double click on it)
- Click on a chart
- Move the line and see how the support line is drawn
- Click again on the chart to stop the drawing process
- Click on the auto support line to display two small rectangles
- Use these rectangles to resize the support line

Note that this auto support line is automatically updated when it is moved and resized.


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Type: Custom Drawing Tool

Object ID: 881


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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.