Harmonic Octaves
The Daily Price Lines tool can be used to plot Harmonic Octaves. Harmonic Octaves are plotted at the following price divisions: 12.5, 25, 37.5, 50, 62.5, 75, 87.5, 100, etc.
These price levels are derived by dividing 100 into 8ths. The chart will be further divided into 8ths depending on the price range of the chart.
The Harmonic Octave levels will often be Support and Resistance levels.
To apply Harmonic Octaves on a chart click the Daily Price Lines button on the Drawing Toolbar, and then click on the chart.
Right-click the mouse to open the Properties window and then configure the tool as shown below.
To distinguish the main Harmonic Octave levels, change the Line Style for the 0 level to a thicker line.
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