# Studies MotiveWave™ has over 300 built in studies that can be used to display information on the price plot or separately in a plot below the price. There are essentially two types of studies: * Overlays – display information that is drawn on top of an existing plot (most typically the price plot) * Study Plots – display information that is displayed in a plot that is separate from the price plot. ## Adding a Study A study may be added by clicking on the Study icon on the top toolbar in the default MotiveWave layout. You can search for available studies using the Search bar and other filter boxes. You can quickly add a recent study to Favourites list or customize the studies in that list by right clicking on the studies.

A study may also be added to a chart by choosing one of the available studies found under the ***Study*** menu from the top menu bar. This menu organizes some (not all) of the studies into logical groups (based on author or function). The ***Add Study*** option enables you to search for a study instead of trying to find it in a sub-menu. For convenience, a ***Recent*** menu is available to access recently used studies.

If you choose ***Add Study***, you will see the following dialog. This is a convenient way to search for a study by typing it in into the Filter input (see below):

When you add or edit a study you will see the study dialog similar to the one displayed below. Each study will have different settings and configuration options. The available tabs will depend on the study, but all study dialogs will have **Options,** **Signals** (if it generates signals) and **Toolbar** tabs.

Adjust the settings for the study and click on the **Create** button to add the study to the chart. For convenience, you can click on the **Defaults** drop down to save/apply/reset the study settings for the next time you create this study. You can also save study settings as templates and manage the templates by clicking on the Template drop down. The following screenshot shows the **Simple Moving Average (SMA)** study from the **Study** dialog above. Also shown is a Study Plot for the **MACD** study.

## Editing a Study If you would like to edit the settings on a study simply double click or right click and choose Edit Study.

## Study Options All studies will have an **Options** tab as the last tab when you create or modify its settings. This tab will contain different values if it is an overlay or a study plot.

### Overlay Plot When you create an overlay study, by default it will be placed on the **Price Plot/Price Graph:**

Optionally, you can choose one of the existing plots to display the study. When you change the graph for the study, it will change the input options. For example, if you want to display a simple moving average (SMA) on an RSI study plot, you would choose the RSI(14) plot from the **Options** tab:

When you choose this, the Input field (under the **General** tab) will be updated to reflect the inputs available from the RSI plot:

### Study Plot Overlay Study plots may be overlaid on other plots (Price Plot or other study plots). You can change the overlay plot for a study from the **Options** tab. You may have noticed this feature already with the Volume overlay on the default layout of the Console. This is an example of a study plot on the Price Plot:

The following example shows a MACD and SMA study plots on RSI study plot :

You can adjust an overlay study plot by clicking on the study to show its axis, then holding and dragging the yellow points at the top and bottom of the graph:

You can also double click on the overlay study plot to open the study settings > Options tab for more options to select top/bottom insets, overlay types, height, axis settings:

### Study Bar Size By default when you create a study, it will use the bar size of the chart. When the chart bar size changes, the study will be automatically updated to reflect the new bar size. MotiveWave™ does allow you to choose a specific bar size for the study. This allows you to, for example, display a 1 day SMA (Simple Moving Average) on a 15 minute chart. This feature also applies to study plots so you could display a 10 minute RSI on a 15 minute chart (see example below):

### Study Visibility For convenience, you can specify that a study is only visible on certain bar sizes. This is similar to the visibility feature for components. By default a study is visible on all bar sizes. You can change this from the **Options** tab:

## Study Toolbar Some options of a study can be added to the toolbar(s) for easy access via the Toolbar tab of that study settings.

For the options to be displayed on the toolbar, make sure that you have the Study Editor section enabled/added via the Configure menu > Settings > Toolbar > Toolbar. In the screenshot below, the Study Editor is located between the Link Chart and Lock Scroll actions:

In case there are no study settings added to the toolbar, there will be a blank space displayed as in the default chart layout:

## Signals Some studies generate signals. Signals occur when a specific event occurs with the study. For example, a signal may be generated in a CCI study where the CCI value crosses above the top guide. These signals can be used to show alerts, play sounds or even send an email notification. Note: if you want to send emails, you will need to configure your email (SMTP) settings in the ***Configure > Settings > Email*** from the Console menu bar. Please see [Email Configuration](https://docs.motivewave.com/user-guide/console-1/email-configuration) guide.

## Instrument Overlay An instrument can be overlaid on top of the price plot by choosing ***Study > Instrument > Instrument Overlay*** from the top menu bar. This action will open the dialog displayed below:

This dialog has the following elements: * **Instrument** – Type or select the instrument. * **Price Bar** – Choose the type of bar and line source (opening price, closing price, etc.) that you would like to display for the overlay (default is a line chart). Click on the pencil icon for more line styling options. * **Indicator** – Options for the indicator of the instrument overlay. * **Shift** – The number of bars to shift the study forward (negative value for backward). Uncheck **Lock Shift** to enable dragging of the overlay backward or forward using the mouse. * **Bottom/Top** – * **Show Label** – Display a label at the end of the overlay for the Instrument symbol Click on the **Add** button to add this overlay to the price plot. The example below shows an instrument overlay for the USD/JPY pair on top of the price plot for the EUR/USD pair. The axis for the USD/JPY pair can be displayed on the right or left hand side ( this can be edited in the Options tab of the study settings) and has indicators for the current prices.

With **Auto Scale** enabled, dragging the chart left or right will automatically scale the values for the overlay. The vertical scale of the overlay can be adjusted by clicking and dragging the space between the overlay axis and the price plot. Dragging from the top or bottom will add more top/bottom space. Drag from the middle to adjust both at the same time.

If auto scale is disabled, you can click and drag the overlay up or down to adjust the location of the overlay relative to the main instrument axis.

The horizontal location of the overlay can be adjusted by changing the value of the Shift field in the **Instrument Overlay** dialog. A positive value will shift the overlay into the future and a negative value will shift it into the past. If you uncheck the **Lock Shift** option you will be able to adjust the shift by dragging the overlay to the left or right with the mouse.