Build an interval ladder

Before you start

• The interval ladder comes with the free fourteen-day trial or Pro: sign in to Studio with Google to start the trial.
• Open BTCUSDT on the weekly chart, and leave the magnet on (⌥S) so your click snaps to the bar's low.

Steps

1. 1⌘KSearch interval ladder and press Enter. It's also on the rail, in the Price–Time group.
2. 2Click the tonic: a major high or low. Here it's the November 2022 low, 15,476.
3. 3The consonant tones lay out above and below it, octave by octave: the thirds, the fourth, the fifth and the sixths, each labelled with its ratio, its cents and its price.
4. 4Every swing high and low since the tonic is tagged with its nearest tone and the miss in cents, such as P5 · 3/2 · +3¢.
5. 5Open the ladder's Properties from its bar, then More: the octave the last price sits in, as a table, and how far the last price is from its nearest tone.
6. 6Under Pivots on the ladder, read the swings' average miss against what prices spread at random would score.

⌥ is Alt on Windows and Linux.

Reading it

Each tone is the tonic times a whole-number ratio: 6/5 the minor third, 5/4 the major third, 4/3 the fourth, 3/2 the fifth, 8/5 and 5/3 the sixths, and 2/1 the octave, where the ladder starts again. Cents put them on one scale: 1200 to the octave.

In the clip, 117 swings of 10% sit 54¢ from a tone on average; prices spread at random would sit 57¢ off, and with 117 swings luck spans ±8¢. So on this chart the ladder fits the swings no better than chance, and the panel says so.

In the Style tab, All twelve adds the other tones: a line about every 6%, so price is nearly always near one. Tone dates turns each tone's move into a date line, and the Test tab scores the ladder against the same ladder moved somewhere nobody chose.