How to Use the My Tools Bar

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Video Transcript:

Hello, traders. Welcome to the ThinkorSwim tutorial and the third module charting. In this lesson, we are going to review or we are going to learn how to use ‘my tools’ bar, and ‘my tools’ bar is a very special feature of the ThinkorSwim platform that enables you to quickly access tools that you use frequently. So you don’t have to go to, for example, the ‘drawings’ button or the ‘studies’ button to add an indicator or draw in your chart.

My tool bar thinkorswim
Now, the first thing you want to do is activate the bar, and to activate the bar, you have to go to ‘style and settings’. Then on the bottom of the right half of the list, you have ‘my tools’ on the ‘off’ button.

Add new tool bars
You can choose to show it on each chart or as a single panel. I’m going to choose it to show it on each chart, then you click ‘okay’. Now, you can see that you have…when you hover over your mouse over the top of your chart, your ‘my tools’ bar will be prompted out. Now, you can also pin it, so it doesn’t move. I like to pin it, so it doesn’t move, because I like to see the information of the candlesticks on the top of my chart. In order for you to be able to modify this, you will have to go to the wheel of the ‘my tools’ bar and click on it. Then for example, if you want to delete a button, I want to delete the ‘text’ button, you click on the ‘text’ button, and you click on ‘delete’ button, okay?

If you want to add a button, you click on the ‘add button’ button, actually. And I’m going to choose the pointer. Then I also use a lot of price levels, and I also use Fibonacci Retracements and the Fibonacci Extensions, okay? Now, these are basically the drawings that I normally use when I’m working on a chart, and I’m going to add a moving average. Because you can also add studies to it. I’m sorry, lets go back to the M and go to moving average, and I’m going to add the pivot study to this chart. So let’s go the P and go to the pivot point. So where are they? Here they are, pivot point.

Adding toolbars on thinkorswim

And then you click ‘done’, and as you can see, you have the tools that you frequently use to work on your charts at the top of your chart. So if you want to draw a trendline, you just click on the trendline, and you will have the drawing, okay? Then if you want to go back to the pointer, you click on the pointer, and that’s it. If you want a Fibonacci Retracement, you have now Fibonacci Retracement. And let’s say you want pivot points, you click on the pivot points, all right? And this is basically how you use the ‘my tools’ bar for quickly accessing the tools that you use on a daily basis.

Adam

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