trendlines on indicators

does anybody draw trendlines on indicators like cci or rsi?
lately ive been doin so as extra confirmation for my system. not that it needs extra confirmation but theres no harm in learning a different way to trade
i attached a trendline break on 55 cci

basically the way i draw em is i find 3 points where the trendline has touched and then i wait for action the next time the indicator gets close to the trendline.

if it breaks up and holds then ill buy


if it breaks and then goes back then ill sell

if it bounces then ill buy

and obviously vice versa

here the gbpchf 1h

there were about 4 points where the trendline was touched then we had a trendline break(also a zero line cross which is a famous woodies cci system pattern)
after the break the cci moved back up to touch the trendline then it went down. when the cci moved back up to touch the trendline that would be the ideal time to short.

i feel like i should be posting this in the trading systems section but im really not sure as im not really describing a system but more like showin how i do somethin(trendlines) and im very inexperienced at it too.
i dont know if the mods feel like this should be in the trading systems then please feel free to move it there.

just wondering if others do this sort of trading

this is a trade i took on gbpchf was very nice goin into the weekend

at first we have 1 2 4 and 5

when 3 showed up i drew my trendline that goes from 1 through 2 and then to 3.

then i waited for the trendline to break and while waiting we had 6. so i drew another trendline from 4 5 and 6. after price made 6 and start moving towards my 123 trendline then i watched closely for a bounce or a break. it broke then i went long and it was a success

ps: i noticed if u cant find more recent 3+ points to draw ur trendline then the last one u drew should still be valid

gbpchf 15 min
i actually drew the trendlines off the 5 min but saving the picture 600 by 600 i couldnt get the part i wanted to show so i zoomed out to 15 min

the upper line of the blue triangle is my main trendline. it touches 3 points
it broke and i bought around the blue square
it was a good one

realizing more and more how great it is to confirm ur main system with trendlines it can greatly increase ur probability of being right

as simple as picking 3 points or more and drawing a trendline and acting according to what kind of action happens near that line

Hi boxingislife...
I draw trendlines on my indicators all the time, it's part of my trading method and it helps me see things a little more clear... Below is a chart I have trendlines on the indicators.

L.C.

glad someone else uses trendlines on indicators
thanks for posting LC and post more if u feel like it
im just gonna show examples of both trendlines on price and indicators

check out gbp 1h could be interesting to see what happens around the line
im a buyer but will decide more when i see some action

Correct me if i'm wrong, but it looks like you two are drawing trendlines on indicators for two different confirmation signals. One seems to be drawing trendlines on the RSI as a means to confirm trend change, while the other is simply pointing out a divergence, which really isn't considered drawing a trendline.

DMoTrader,

thought you might find this helpful,

Noun: trend line
A line on a graph indicating a statistical trend
Derived forms: trend lines
Type of: line


definition taken from wordwebonline.com

L.C.

I see we have a wise guy amongst us.
L.C.

Maybe you're new in the game.......or maybe you're just a wise ass.

Either way, drawing trendlines on indicators in order to measure a reversal in momentum, "forecasting" a reversal in price, is not quite the same as lines to indicate divergence.

First off, the peaks and troughs of an indicator varies among different charting programs, as do candlesticks.

Secondly, and more importantly, you didn't have to answer in such a childish manner. Perhaps in your haste to be "cute", you missed my precursor acknowledging possible error in assessment.

Either way, lets move on and not let this become a cyber spat.