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I am trying to recreate this image from a presentation:

enter image description here

I got part of the way there with the following:

\draw[<->] (0,5) node[left]{price}-- (0,0) -- (8,0) node[below] {time};
\draw[thick] (0, 4) -- (1.5, 4) ;
\draw[thick] (1.5, 4) -- (1.5, 2) ;
\draw[thick, domain=0:4] plot({\x+1.5},{(4 - (2 * exp(-\x/2)))}) ;
\draw[thick] (5.5, 3.73) -- (8, 3.73) ;

But it's unclear to me how to add the remaining labels and arrows. Any suggestions?

share|improve this question
up vote 11 down vote accepted

By doing all lines on one path you can improve the corners.

The rest is just adding nodes at the appropriate corners. I set the “pre-trade” node above the graph, similar to the post one to have a better consistency.

The LaTeX-wide knows macro \\ does only work in a node if the align key is set.

Note that I added three coordinates to the path:

  • pre,
  • low, and
  • post

which are later used to extract the y values for the arrows. This way, if you change something in your graph, you don’t need to adjust the arrows.

Additionally I used another macro \arrowlength that specifies the length of the arrow as it is used a few times on the arrow path. I macro-ized the x value of the arrow bar/link in the same way.


\begin{tikzpicture}[every node/.style={font=\tiny}]
\draw[<->,every node/.style={font=\normalsize}] (0,5) node[left]{price} -- (0,0) -- (8,0) node[below] {time};
\draw[thick] (0, 4) -- (1.5, 4)  node[midway, above, align=center]        {pre-trade\\equilibrium}
                        coordinate (pre)
                    -- (1.5, 2)  node[left,midway,align=right]            {200 shares\\sold}
                                 node[right]                              {trade print}
                                 coordinate (low)% this coordinate could have been produced with the preceding node too
                    -- plot[domain=0:4]({\x+1.5},{(4 - (2 * exp(-\x/2)))}) 
                    -- (5.5, 3.73)
                    -- (8, 3.73) node[midway,above]                       {post-trade equilibrium}
                                 coordinate (post);

\tikzset{every node/.append style={right, align=left}}
\draw[<->] let \p1=(pre), \p2=(low), \p3=(post) in
    -| (\arrowBar,\y3)
       node[pos=.75] {permanent\\impact}
    |- (\arrowBar-\arrowlength,\y2)
       node[pos=.25] {temporary\\impact};
\draw[ ->] let \p3=(post) in
       (\arrowBar,\y3) -- ++ (-\arrowlength,0);


enter image description here

share|improve this answer
Thanks! That's excellent. – Shane Dec 28 '12 at 12:02

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