How it works?
- On each bar it finds last 10 higher and lower ( PP ).
- from first bar to 10. PP it search if a is possible
- for each it starts searching from the last PP .
- it check if drawing a possible or not and also it's broken or not
- if it's broken then optionally it shows broken as dotted
- if it finds a continues and stop searhing more and draw (I did this to make the script faster, otherwise you may get error because of it needs time more than .2sec)
- the script makes this process for each PP
optionally may be Solid or Dashed
optionally you may get rid of broken if you think it's crowded
and sometimes you may not see any on the chart. this means you need to adjust the period for accordingly
also I made a video. if you watch this video you can see how the script works.
Important! after you add this tool to the chart you may need zoom-in and zoom-out to see all lines!
I thought a lot to make it free or not then I decided make it free and open source. you should know there is a lot of effort for this script, so if you think this is usefull please consider a donation ;)
- "CHANGE BAR COLOR" option added. now able to change bar color when trendline was broken up or down.
- Alerts Added (for broken Trendlines)
A screenshot, how bar color changes when trendline was broken:
in current version now by default it starts calculation from 01.01.2020. You can set closer start date if you use small time frames like 3mins, 5mins, etc.
If you set start date accordingly, you will not get any error.
for "Trend Lines Pro" script please visit following page:
1. Work out the interpolation in the future by calculating ax+b slope and extending X bars in the future (configurable input) - the usefulness of the trendline is in its extension to see where the price may bounce off it
2. Eliminate lines to close together - workout an angle between the lines coming out of the same point and f the angle between them is smaller than Y threshold - treat them as one line
3. have a input to configure whether you want the trendlines touch the high/low or close.
PS. just checked ,apparently TV has the parameters for the line to extend - you already implemented it!