Drawing Tools

Full Tool List

The drawing toolbar provides quick access to every tool. Select one, click on the chart to place your first anchor point, and drag or click again to complete the drawing. Every tool can be moved, resized, or deleted after placement.

Lines

• Trendlines — draw a line between two points to visualize the slope of a trend. Enable "extend to infinity" to project the line forward and backward beyond your anchor points, which is useful for identifying where future price may encounter the trendline.
• Horizontal Lines — mark a specific price level that acts as support or resistance. The line extends across the entire chart at the price you choose.
• Vertical Lines — mark a specific date or time. Useful for flagging earnings dates, economic events, or the start of a significant move.
• Rays — a line that starts at one point and extends infinitely in one direction. Useful for drawing support or resistance from a specific origin without the line extending backward.

Fibonacci Tools

• Fibonacci Retracement — plot the standard retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) between a swing high and swing low. These levels indicate where price is most likely to find support or resistance during a pullback within a trend.
• Fibonacci Extension — project potential profit targets beyond the current price range using Fibonacci ratios (100%, 127.2%, 161.8%, 261.8%). Traders use extensions to set take-profit levels after a breakout.

Shapes and Zones

• Parallel Channels — draw two parallel trendlines to define a price channel. Channels help you visualize the range within which price is oscillating and identify potential breakout or breakdown points.
• Rectangles — draw a box on the chart to highlight a consolidation zone, supply/demand area, or any range you want to keep an eye on.
• Date/Price Range Boxes — a specialized rectangle that displays the date range, price range, and percentage change within the box. Ideal for measuring the extent of a move or a consolidation period.

Position Tracking

• Long Position Tracker — place a visual trade layout on the chart showing your entry price, target price, and stop-loss. The tool automatically calculates your risk/reward ratio and projected P&L based on the levels you set.
• Short Position Tracker — the inverse of the long tracker. Set your short entry, cover target, and stop-loss to visualize the trade and its risk/reward profile.

Annotations and Measurement

• Arrows — point at specific candles, patterns, or levels to highlight them in your analysis. Arrows can be customized with different colors and sizes.
• Text Annotations — add text labels anywhere on the chart. Use them to note your reasoning, label patterns, or leave reminders for yourself.
• Measure / Ruler Tool — click and drag between two points to see the exact price difference, percentage change, and number of bars between them. The measurement stays visible until you dismiss it.

Magnet Mode

Precision matters when drawing on charts. Magnet mode snaps your cursor to candle data points (open, high, low, close) so your drawings anchor exactly where they should be — not a pixel off.

• Weak Magnet — snaps to the nearest candle data point only when your cursor is within a few pixels of it. This gives you flexibility to place drawings between candles when needed while still benefiting from snap assistance.
• Strong Magnet — always snaps to the nearest data point regardless of distance. This is ideal when you want every anchor to land precisely on a high, low, open, or close value.

Toggle magnet mode on or off from the drawing toolbar. When enabled, you will see a small indicator showing which data point your cursor is currently snapped to.

Customization

Every drawing tool in ChartingLens can be customized after placement. Double-click any drawing or right-click and select "Settings" to open the customization panel.

• Colors — choose from a full color picker or use preset colors. You can assign different colors to different types of analysis (e.g., blue for support, red for resistance, green for targets).
• Line Widths — adjust thickness from hairline (1px) to bold (5px) to make important levels stand out or keep reference lines subtle.
• Line Styles — switch between solid, dashed, and dotted lines. Dashed lines are commonly used for projected or tentative levels, while solid lines mark confirmed support/resistance.

Undo, Redo, and Cloud Sync

ChartingLens supports full undo/redo for all drawing operations, so you never have to worry about making a mistake.

• Undo (Ctrl+Z) — removes the last drawing action. You can undo multiple times to step back through your recent changes.
• Redo (Ctrl+Y) — restores the last undone action. If you undo too far, redo brings your drawings back without having to redraw them.

All drawings are saved to your ChartingLens account automatically. When you log in on a different device — whether it is your phone, tablet, or another computer — every drawing you have placed will be there, exactly as you left it. No manual export or import required.

How Position Trackers Work

The long and short position tracker tools deserve a closer look because they are one of the most practical features for active traders. Here is how to use them effectively.

Position trackers remain on the chart until you delete them. You can place multiple trackers to plan different scenarios — for example, a conservative target and an aggressive target — and compare risk/reward visually.