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Right-clicking on the vertical axis of any chart will cause a window to pop up giving the user several different scaling options. These scaling options will affect not only how the chart is displayed but also how it will look when moving forward. Here is a rundown of the different options within the scaling options window.
SCALING OPTIONS WINDOW
Will reset the scale back to its center point. After making several modifications to the look and/or scale of the chart, clicking this option will re-align everything back to its initial state.
Show Left Axis
Will show the vertical axis on the left-hand side of the chart. A left-oriented axis and a right-oriented axis can be visible simultaneously.
Show Right Axis
Will show the vertical axis on the right-hand side of the chart. A left-oriented axis and a right-oriented axis can be visible simultaneously.
- This chart is an example of having both the right axis and left axis visible simultaneously.
Allow the axis to scale automatically along with any price movements. This way, the data series will always be visible with only the axis changing accordingly.
Locking the scale is very different from allowing the axis to auto scale. When "lock scale" is active, the axis will stay frozen the way it is when it is initially locked. This means that the scale (price intervals) wont change along with price movements. It is therefore possible that if the data series moves high or low enough, it could move out of view of the chart window.
Scale Series Only
This option is for when there are studies or indicators overlaid onto the main chart window. When this option is active, the axis will scale according to the data series (price) alone. The values and coordinates of any active indicators will not be factored into the scaling of the axis. Keep in mind that they may cause parts of any indicators to not be visible within the chart.
*Below is an example of a chart with the "Scale Series Only" option selected. As a result, portions of the Bollinger Bands indicator are off screen.
This option will change the vertical axis display from price to percentage. The percentage shown is the amount price has changed within the current view. The calculation starts at the first visible bar and continues from there.
- Below is an example of two charts showing the exact same data. However, the first chart is showing the data using price along its axis while the bottom chart is showing percentage.
This option will change the vertical axis from a standard linear scale to a logarithmic scale. Logarithmic scales use intervals that correspond to orders of magnitude rather than intervals that are equidistant from each other. Essentially using a log scale is appropriate when viewing data that covers a very wide range. Using logarithmic values instead of actual values can reduce the wide range of data into a more manageable size.