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OnTopCalc Tutorial


Tutorial

Introduction

The OnTop Calculator is a very simple tool for quickly finding support and resistance levels of market ranges. It is well known that there exists areas of pressure at various price levels where price action will find difficult to move beyond. These areas are often referred to as support and resistance.

While there are many tools for solving support and resistance price levels, one of the most common technique is to use Fibonacci and/or Gann ratios, as price tends to often find resistance or support at these levels. The technique is to simply take any price range, such as a range that starts from a swing bottom to a swing top (or the other way around), and then divide that range by the Gann or Fibonacci ratios to find retracement levels for support/resistance.

Gann ratios are commonly known as dividing a range by 'quarters' or 'eighths' or 'thirds'. Fibonacci ratios are also used within the OnTopCalc.

While many charting programs now provide retracement and expansion ratio tools in either Fibonacci, Gann or both, the OnTopCalc makes it easy to do 'quick' calculations of ranges and is not tied to any specific program, charting or otherwise. It opens quickly, is very small, and will sit on top of any program including your charting program. You can quickly type in your high and low of any range and quickly get your Gann/Fibonacci retracement and expansion ratios.

By taking the low and high price of any range from your price charts, you simply enter those prices in the two white boxes provided, pressing the ENTER key each time. When you hit the ENTER key after filling in the bottom white entry box, the results will then be calculated and displayed in the box below marked "Fib Results" or "Gann Results", depending on whether you are calculating based on Fibonacci or Gann.

To toggle from Fibonacci to Gann ratios and back again, you only need to press the button below. Note that the button will always display the function it will perform.

The results will display in BLACK when you are solving for mid-range values, called RETRACEMENTS. When you are solving for values that 'extend' outside the range values entered, a function of pressing the button marked "Extensions", the results will appear in RED and BLUE such as shown below.

The values in blue are the resistance levels that are above the high price of the range values you entered. The values shown in red are the support levels that are below the low price of the range values you entered. These are referred to as 'Extension Levels'. You can toggle from Mid-Range to Extention levels simply by pressing the button below the ratios buttion. This button will always indicate what it will do when pressed, and the color coding will help you quickly identify the type of levels you have calculated.

If you wish to quickly note what 'ratio' was used to produce the displayed results, simply move your mouse over the resistance/support price level. You should see the actual ratio display on the title bar above as shown in the example below.

OPTIONS MENU

Selecting the Options menu will provide the above options.

Always On Top - Selecting this option allows the OnTopCalc to remain visible at all times regardless of what other programs are currently running on your computer's desktop. This allows you to use it on top of any and all charting programs or anything else you care to.

Horizontal - This option changes the layout from Vertical (default) to Horizontal.

 

Timer Setup - This option will present you with a window where you can activate the OnTopCalc's built-in timer function. The setup window that will appear is shown here:

Enter the number of seconds you wish the timer to count. The default is 300 seconds (5 minutes). To activate the timer and have the TIMER menu item appear on OnTopCalc's main menu, click your mouse in the Activate Timer checkbox.

The Restart Timer at Timeout selection (checkbox) is for having the timer automatically reset to zero each time it reaches the timeout count that you have entered into the Seconds box. It will continue to cycle every x number of seconds until this box is cleared.

The purpose of the timer is to alert you that a particular time has elapsed so that you can quickly look at your price chart and see if price is at one of your calculated levels. For example, suppose you have a 5 minute chart on your screen. A new price bar forms every 5 minutes and you want to be ready when the next bar is about to start forming. You can watch the clock at the bottom of your charting program like many do when wanting to be ready to take some action when the next bar is going to form, or you can set this timer and go about your business letting the OnTopCalc alert you each time. It really comes in handy if you find yourself at times wanting to be ready for the next price bar on an intraday chart.

 

BONDS (32nds) - This option will convert the decimal support and resistance values the program displays into that compatible with Bond prices.