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TrendLine drawing indicator

  • #1
  • First Post: Jun 26, 2007 6:50am Jun 26, 2007 6:50am
Hello everyone,

I am experimenting with an idea for an EA but I need a TrendLine drawing indicator so I dont have to draw them by hand.

Does it exist? Thank you in advance for your help.
  • #2
  • Jun 26, 2007 7:02am Jun 26, 2007 7:02am
I am not sure about this but I think there is no such kind of indicator.

Allow me to explain why:

By drawing the trendline manually, the trader has an eyes to see where are the lowest lows or highest highs during the X period of time. It means that no matter what is the time frame the trendline can be drawn by hand by connecting the extreme lows/highs of the price action.

An indicator technically cannot do that, or at least cannot do that as accurate as human, because an indicator has to know an instruction when to connect the extremes and where those extremes are. The problem is, the indicator does'nt know what is an extreme, and how to act on it using the previous market data.

The only possible solution I see at this very moment is for indicator to capture the lowest lows of the price action every period of time (let's say on daily chart every 20 days, on hourly chart every 2 days, on 15 minute chart every day etc. etc.) and then connect those extremes to a trendline.

Technically, the closest thing that comes to my mind sounds like this:

Record the lowest low of the starting period A
Get the new lowest low after X periods of time
Connect the extremes
Check the angle
If angle ok = trendline ok
If angle is not ok = trendline is not drawn.

That's why I think it's better for some things to be done manually.

ADD: Ok, one thing has popped inside my head ^_^

An indicator should record the most recently closed candle high and low, then compare it to 2 previous candles's high and lows, and monitor 2 upcoming candles.

If Previous 2 candles high or low is smaller than most recently closed candle's, AND if next two upcoming candles have smaller high/low than the most recently closed and recorded candle's, DRAW a trendline

Happy Trading
  • #3
  • Jun 26, 2007 7:14am Jun 26, 2007 7:14am
Quoting WTB
Hello everyone,

I am experimenting with an idea for an EA but I need a TrendLine drawing indicator so I dont have to draw them by hand.

Does it exist? Thank you in advance for your help.
Here something i programed a while ago. Just drag to roughly where you want the line to start from. Its not totally acurate but does the job for me
Attached File(s)
File Type: ex4 TrendlineChannel.ex4   2 KB | 4,496 downloads
Thanks, Damian Burrowes
  • #4
  • Jun 26, 2007 7:44am Jun 26, 2007 7:44am
Quoting 5leepless
Here something i programed a while ago. Just drag to roughly where you want the line to start from. Its not totally acurate but does the job for me
Thanks for the indicator 5leepless, however, it does not seem to work. I have tried dragging it on the chart, double-clicking on it, but nothing happens. It seems I can't modify or recompile the source as well. Can you help regarding this issue.

Thanks.
  • #5
  • Jun 26, 2007 8:26am Jun 26, 2007 8:26am
Quoting Dexis
Thanks for the indicator 5leepless, however, it does not seem to work. I have tried dragging it on the chart, double-clicking on it, but nothing happens. It seems I can't modify or recompile the source as well. Can you help regarding this issue.

Thanks.
Here you go.Try this one.
Attached File(s)
File Type: mq4 TrendlineChannel.mq4   2 KB | 4,651 downloads
Thanks, Damian Burrowes
  • #6
  • Jun 26, 2007 9:22am Jun 26, 2007 9:22am
Quoting 5leepless
Here you go.Try this one.
Thanks mate. I am having problems though, it doesnt load up upon dragging onto the chart screen
  • #7
  • Jun 26, 2007 9:31am Jun 26, 2007 9:31am
Quoting WTB
Thanks mate. I am having problems though, it doesnt load up upon dragging onto the chart screen
You need to put the file into expert advisor directory.

C:\program files\whatever\experts

Then enable the EA's and allow live trading. The smiley on the top right corner of the screen will turn happy and TL's will be drawn upon next tick.
  • #8
  • Jun 26, 2007 9:33am Jun 26, 2007 9:33am
WTB,

The enclosed Demark trendline indicator should do the trick. This is an indicator not an EA.

TimeFreedom

Quoting WTB
Hello everyone,

I am experimenting with an idea for an EA but I need a TrendLine drawing indicator so I dont have to draw them by hand.

Does it exist? Thank you in advance for your help.
Attached File(s)
File Type: mq4 Demark_trend_alert_and_mail.mq4   17 KB | 3,508 downloads
  • #9
  • Jun 26, 2007 9:40am Jun 26, 2007 9:40am
Check out this thread

http://www.forexfactory.com/showthread.php?t=7883


look for TDTL.mq4 on the attachments on any of the threads in the Mouteki Trading sub forum.

Good luck
EllisEdi Moving on to my next trade ...
  • #10
  • Edited 7:41am Jun 15, 2010 7:29am | Edited 7:41am
Is there an indicator that we can drag to the screen and it will auto draw for us 2 horizontal trendlines at 400pips apart?

it would be good if the '400pips' is a 'variable', thanks.
  • #11
  • Jul 29, 2010 2:32pm Jul 29, 2010 2:32pm
How to create an indicator that draws a trendline from the open of the 0:00 candle the open of the 7:30 candle every day?

Or how can I do that in an EA? What is the code?

Also, how do I program my EA to read a trendline? What is the code to measure if the price has closed across the trendline from below to above?
  • #12
  • Jul 31, 2010 1:25am Jul 31, 2010 1:25am
This indicator was written by me last weekend as a quick way to view my 4 hour charts without redrawing the trendlines each time. It works well in my opinion, considering the little amount of time I put into it.

Currently it will draw support and resistance levels, trend lines, and depending on the settings, it will also draw a continuous channel. The channel is viewable by setting ShowTrendLineRays=FALSE and setting ShowTrendLinesWithInvalidPoints=TRUE.

Let me know what you think, there is plenty of room for improvement. =)

Helix
Attached File(s)
File Type: mq4 EverTrend.mq4   10 KB | 3,820 downloads
  • #13
  • Jul 31, 2010 7:51am Jul 31, 2010 7:51am
Hi,

Can you create an indicator that draws a trendline from the open of the 0:00 candle the open of the 7:30 candle every day?
  • #14
  • Sep 8, 2010 11:28pm Sep 8, 2010 11:28pm
Quoting Helix
This indicator was written by me last weekend as a quick way to view my 4 hour charts without redrawing the trendlines each time. It works well in my opinion, considering the little amount of time I put into it.

Currently it will draw support and resistance levels, trend lines, and depending on the settings, it will also draw a continuous channel. The channel is viewable by setting ShowTrendLineRays=FALSE and setting ShowTrendLinesWithInvalidPoints=TRUE.

Let me know what you think, there is plenty of room for improvement. =)

Helix
Hi Helix!

I put your indy on my FXDD chart and this is what it looks like. It doesn't look correct. Did I do something wrong?

I have these set to false:

ShowTrendLineRays=FALSE
ShowTrendLinesWithInvalidPoints=FALSE
Show SR Arrows=FALSE
Attached Image (click to enlarge)
Click to Enlarge Name: evertrend.gif Size: 66 KB
  • #15
  • Last Post: Nov 27, 2015 7:38pm Nov 27, 2015 7:38pm
Hi

Can you please modify the Evertrend indicator with the Arrow to bigger size and provide any latest version of trend line for higher highs and lower lows
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