Parallel

To draw a parallel lines, follow these steps:

Left-click on a trend line.
Click , or choose Parallel from the Trend Line Functions menu.
Position the cursor where you want the linked line to be drawn.
Click the left mouse key.

While basic trend signals generated by penetration of support and resistance lines are often sufficient, you can account for small penetrations by establishing a band, or zone of commitment, to your trend line. Bands are simply trend lines drawn parallel to the main trend line.

Parallel lines are often used to define price channels. For example, once you draw a bullish support line, you then add a parallel line through a significant high in the trend. You might then expect prices to fluctuate within the resulting channel.

Aspen Graphics lets you draw two types of parallel lines: parallel and linked-parallel lines. A parallel line is initially drawn parallel to the main trend line; however, the parallel line is independent of the main trend line, so you can pivot and extend it without affecting the main trend line. By contrast, a linked parallel line is also drawn parallel to the main trend line, but it is also linked to the main trend line so that if you manipulate either line, both lines are affected.