Ray

A ray is a one-directional trend line anchored at a single pivot and projected forward indefinitely. Unlike a full trend line — which connects two points and extends in both directions — the ray has a definite starting point and no endpoint. It extends to the right chart edge and beyond as the chart scrolls, providing a continuous projection of the current price trajectory.

Rays are widely used by momentum traders to project the angle of a current move forward, and by Elliott Wave practitioners who draw channel lines in impulse and corrective wave structures. The ray is also a core tool in Gann analysis, where geometric angles are projected from significant pivots. The single-sided nature makes it a natural fit for open-ended trend projections where the origin has specific significance but history before it is either irrelevant or misleading.

The mathematical distinction between a ray and a line is subtle but important: a line extends infinitely in both directions, while a ray extends infinitely in only one. In trading terms, the ray says "from this moment forward, I expect price to follow this trajectory." It is a statement of directional conviction anchored to a specific event or pivot.

The Ray tool requires 2 anchor points — the origin and a direction handle. Click at the origin point to begin, then drag to the second point to set the direction angle. During the drag, a preview line extends from the origin through the cursor position to the right chart edge, giving real-time feedback of the projected angle.

After placement, drag the origin to reposition both the starting point and the angle. Drag the direction handle to rotate the ray around the origin without moving the origin itself. Drag the line body (the portion visible between the origin and the right edge) to translate the entire ray, preserving both the origin and direction relationship. In multi-select mode, selected rays move together as a group.

On hover, the origin and direction handle show enlarged circular hit targets for easy interaction. The ray body highlights with a thicker stroke to indicate it is selectable. The tool supports angle snapping: hold Shift while dragging the direction handle to snap to common angles (0, 15, 30, 45, 60, 75, 90 degrees), which is especially useful for Gann-style geometric analysis.

Rays support the same styling options as trend lines, with additional settings specific to their directional nature.

Momentum Projection: A ray drawn from the start of a strong impulse move projects the angle of ascent forward. As long as price remains above the ray (in an upward projection), the momentum trend is intact. A clean break below signals that the impulse may be exhausted and a pullback or reversal is likely. This is particularly useful for trailing stops — exit when price closes below the ray.

Elliott Wave Channeling: In standard Elliott Wave impulse wave structures, draw a ray from the start of Wave 1 through the end of Wave 3 to project the upper boundary for Wave 5. Since Wave 3 is typically the longest and strongest wave, the ray through its termination provides a compelling target zone for Wave 5. In corrective waves, a ray from Wave A through Wave B projects the C-wave target.

Breakout Projection: Anchor a ray at a breakout level — such as above a resistance line or below a support level — aligned with the breakout candle angle. The ray projects the minimum expected trajectory for the breakout move, providing a dynamic target that adjusts as time passes. Unlike a horizontal target, the ray incorporates time, so the target price changes with each passing bar.

1. 1
   Set origin at a significant pivot

   Click at a structurally meaningful swing high or low. The origin should have at least 2–3 bars of price action on each side to confirm it is a real pivot.
2. 2
   Set direction

   Drag to a second point to define the angle. The ray projects from the origin through this point to the right edge. A preview shows the projection live during the drag.
3. 3
   Fine-tune the angle

   After placement, drag the direction handle to rotate the ray. Hold Shift to snap to 15-degree increments for Gann-style angles.
4. 4
   Add labels for reference

   Enable price and time labels at the origin and handle for live readouts. Label the origin with a description of why it is significant.
5. 5
   Evaluate over time

   Watch how price interacts with the ray over subsequent bars. Does price bounce off it (confirmation) or break through it (invalidation)?

A ray projects a trajectory, not a guarantee. Its value lies in how price reacts to it over time. A ray that is repeatedly touched and respected becomes a significant dynamic boundary. A ray that is immediately broken was drawn from an incorrect angle or insignificant pivot.

• Price above an upward-projecting ray confirms bullish momentum is intact.
• Price below a downward-projecting ray confirms bearish momentum is intact.
• Repeated touches along the ray strengthen its significance as dynamic S/R, just like a trend line.
• A decisive break across the ray (close on the other side) suggests the projection angle is invalidated.
• The ray flattens relative to price as time passes if price does not keep pace with the projection — this signals momentum decay.
• A ray drawn from a climax pivot (vertical spike) will almost always be too steep. Consider using a nearby pivot instead.

Ray Fan Construction: Draw multiple rays from the same origin at different angles (e.g. 15, 30, 45, 60 degrees). This creates a fan that grades momentum from conservative (flattest ray) to aggressive (steepest ray). Price oscillating between two rays can define a momentum regime. A break of all rays signals a complete change in trend character.

Combining with Horizontal S/R Lines: Anchor a horizontal line at the same price level as the ray origin. The horizontal line marks the structural level (support or resistance), while the ray projects the trend angle. Together they form a complete framework: the horizontal line answers "at what price?" and the ray answers "in what direction and at what rate?"

Correlation Rays Across Instruments: Place rays with identical angles on correlated instruments (e.g. EUR/USD and GBP/USD) from temporally aligned pivots. If one instrument respects its ray while the other breaks, the divergence signals relative strength or weakness — a potential pair-trading opportunity.

Intraday Ray Adjustment: On lower timeframes, rays may need hourly adjustment as new pivots form. A ray drawn on the 5-minute chart at 9:30 AM may be irrelevant by 11:00 AM. Regularly reassess whether the ray is still aligned with the current price trajectory.

• 1.Ray drawing tool — TradingView Help
• 2.Trend Lines: Projections and Extensions — StockCharts ChartSchool
• 3.Elliott Wave Principle — A.J. Frost & Robert Prechter
• 4.How to Use Gann Angles — Investopedia
• 5.Technical Analysis of Financial Markets — John J. Murphy
• 6.Ray Projection Trading Strategies — TradingView Community