Tool retaining device for power tool

A tool retaining device comprising:

• a tool stem including an engaging segment having a compartment formed in said engaging segment, and including at least one aperture formed in said engaging segment and communicating with said compartment of said tool stem, and including at least one opening formed in said engaging segment and communicating with said compartment of said tool stem,
• a tool member receivable and engageable into said compartment of said engaging segment of said tool stem and including a peripheral groove formed in an outer peripheral portion thereof,
• at least one detent slidably received and engaged with said at least one aperture of said tool stem and selectively engageable into said compartment of said tool stem for selectively engaging with said tool member and for anchoring said tool member to said tool stem and for allowing said tool member to be rotated and driven by said tool stem,
• at least one locking ball slidably received and engaged with said at least one opening of said tool stem and selectively engageable into said compartment of said tool stem for selectively engaging with said tool member and for rotatably anchoring and securing said tool member to said tool stem and for preventing said tool member from being disengaged from said tool stem, and
• a barrel slidably and rotatably engaged onto said tool stem, and including a bore formed therein for slidably and rotatably receiving said tool stem, and including at least one peripheral slot and at least one peripheral recess formed in said barrel for selectively receiving said at least one detent and said at least one locking ball respectively and for allowing said at least one detent and said at least one locking ball to be selectively disengaged from said tool member, and said barrel including a first actuator formed by and located beside said at least one peripheral slot of said barrel for selectively engaging with said at least one detent and for selectively actuating said at least one detent to engage into said compartment of said tool stem and to selectively engage with said tool member, and said barrel including a second actuator formed by and located beside said at least one peripheral recess of said barrel for selectively engaging with said at least one locking ball and for selectively actuating said at least one locking ball to engage into said compartment of said tool stem and to selectively engage with said peripheral groove of said tool member, and
• said at least one peripheral recess of said barrel being disengaged from said at least one locking ball and said at least one locking ball being actuated to engage with said peripheral groove of said tool member by said second actuator when said first actuator is disengaged from said at least one detent and when said at least one detent is received in said at least one peripheral slot of said barrel, in order to lock said tool member to said tool stem and to prevent said tool member from being disengaged from said tool stem, and to allow said tool member to be freely rotated relative to said tool stem, and
• said at least one detent being disengaged from said at least one peripheral slot of said barrel, and said first actuator being engageable with said at least one detent when said second actuator is disengaged from said at least one locking ball and when said at least one locking ball is received in said at least one peripheral recess of said barrel to allow said tool member to be selectively engaged into or disengaged from said compartment of said tool stem.