How to Use the Drawing Tools
Precise analysis requires precise tools. Backtestx offers a comprehensive suite of drawing tools designed to feel intuitive yet powerful. In this guide, we'll cover the essentials.
Accessing the Toolbar
The drawing toolbar is located on the left side of your chart interface. It includes:
- Trendlines: For marking support, resistance, and dynamic trend channels.
- Fibonacci Retracement: For identifying potential reversal zones.
- Long/Short Position Tools: For calculating Risk:Reward ratios before entering a trade.
- Shapes & Text: For annotating your charts with notes.
Using the Magnet Mode
For pixel-perfect accuracy, enable the "Magnet Mode" icon at the bottom of the toolbar. This will snap your cursor to the nearest High, Low, Open, or Close of a candle, ensuring your trendlines are exact.
Saving Templates
Do you use the same Fibonacci settings every time? Right-click on any drawing tool to save its current configuration as a template. You can set different templates for specific strategies (e.g., "Scalping Fibs" vs "Swing Fibs").