I did not like the trendline indicators already available on FF so I wrote my own.
Trendlines are very subjective and any two traders may draw them differently. This indicator currently works by looking back 'x' number of bars for the high/low and then connecting to the next appropriate point to form a trendline.
The indicator has up to 4 trendlines each going back a user defined number of bars looking for the high/low. Each of these can be turned on or off.
There is also an option to use the close instead of the high/lows.
Here is a quick idea of what it looks like:
If anyone has any ideas on how it can be improved further then please contribute the ideas or code.
Full source code disclosed.
Trendlines are very subjective and any two traders may draw them differently. This indicator currently works by looking back 'x' number of bars for the high/low and then connecting to the next appropriate point to form a trendline.
The indicator has up to 4 trendlines each going back a user defined number of bars looking for the high/low. Each of these can be turned on or off.
There is also an option to use the close instead of the high/lows.
Here is a quick idea of what it looks like:
If anyone has any ideas on how it can be improved further then please contribute the ideas or code.
Full source code disclosed.
Attached File(s)
TrendLine_Alpha_v1.4.mq4
17 KB
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2,029 downloads