Price at intersecting lines

If i draw 2 lines manually to form a triangle, i want to know the price at which they interesect.

found lots of moutiki/demark stuff on the factory floor, so if i've missed something that already exists, please direct me. Otherwise, help!!

Hello plasmapants,

I don't know of one, either, and rather than Demark stuff, I am more interested in triangles and wedges as another family of consolidation patterns, so tried writing a code to see what it's like.

This code calculates the intersection price between two lines (default name for the lines: "is#1" and "is#2") and shows a price guide which follows the lines and chart, so check it out to see if it works for you or there is any improvement you want.

Thanks Mr Miyagi, appreciate the time you've given.

Miyagi, here is my interpretation of this idea (which I really like.)

The idea is to have custom settings for how many pips off the Current Price for the mouth of the funnel you are trying to create. In my example I have selected 20p. So once the funnel mouth becomes 40 pips or less, then an alert will sound. We should be allowed to pick any number from 1 to 1000. NOTE: What ever number is slected, the funnel mouth will be double that value.

Next, we need a custom setting for how many past past high points we are going to connect together. In the example I have selected 3. We should be allowed to pick any number from 1 to 9.

Cosmetically, we should be able to pick the color and thickness of each element or artifact.

What do you think?

FxH, you always come up with something more interesting which I would not.
Although nothing is going to happen for several days as I am away for the New Year holidays, I will try this soon.

All the best for a prosperous 2012!

P.S. I have 12 straight days off, will start working on January 10th. Cheers!

I am still away but found some time so tried writing a test code.
Attached is a funnel I am looking at on my screen...

Looks great, Miyagi. Happy New Year!

Indi is looking great already. Man, do I wish I had your skills!

First, the way you have it now, the indi paints an unlimited number of past examples of funnels. They go back for weeks on the charts. So we need an input choice for limiting this number. So if set to "5", then we will only see the last 5 funnels, etc.

Second, the pip value you have showing under the indi shows only half the full value of the mouth of the funnel. This number should be the full value.

Third, it would be nice to have lines painting to the right side of the chart as show in my pic for each back position. If there are 7 positons chosen, then we will have 7 colored dots and matching lines. The connecting line is one color (white), and the dots match the lines to the right in color. NOTE: These will only show for the latest funnel.

Lastly, all the lines, dots, and fonts should be selectable for both color and thickness, etc.

Thanks FxH and a happy new year to you and all.
I will try those ideas when I get home.

FxH, I have added functions and input parameters above.
Check it out to see if it works.
I have used indicator buffers for connecting lines so the settings for them are in the other tab.

Very nice!

Some last minor mods, please, notes on pic...

Mods not mentioned on the pic:

1. Please add an input for changing the length of the guide lines on the right side of the chart. Like 1-10, 10 being the longest (and the current default length.)

That's it.

I have added input parameters above as well as others.
So try it out to see if you have good control.

(The length adjustment of the lines is 10 bar wide now, it's MQL limitation.)

Perfect! Couldn't ask for anything better.

And... if you're up for a challenge I have some cool ideas in my next letter for you to look over...

FxH

FYI, I set the Guide Lines position to 6.

Will you be starting a new thread on how you are trading using this new indicator or will it be part of the StairStep thread?

Actually, before I start on those other ideas, I think I have found a bug.

I just tried activating 6 back points instead of the default 3, and when I did the entire indicator vanished from the chart. I'm no coder, but I'm pretty sure this is not supposed to happen! LOL

Also noticed it only works properly on a M5 chart.
Parts of it appear in M1 and H1. Nothing in the others.

A bit confused because if you set the number of points to 6, this code tries to find funnels consist of 6 consecutive high/low points which rarely appear, so it makes sense to me that there are no funnels in your chart.

In higher time frames you might want to set the maxrange and/or daysback to 0, this makes the code set them to large enough values (1000 pips and full history).

I've been playing around with these same settings, and I keep getting back bad results.

For example, I tried with 4 points instead of 6. But absolutely nothing changed on the chart. The chart still showed the same 3 default points, completely unchanged.

I haven't tried 5, but with 6 (like I showed yesterday) the whole indicator disappears.

Bottom line, is that the 3 default points work great, but things get crazy when you try to use more than that.

That does seem strange...
You didn’t accidentally set the “Number_Points” parameter to 3 by any chance ?
I cannot reproduce your problem in my environment now.

Wow, do I feel stupid! I must confess that I didn't see that input. Sorry for wasting your time like that, Miyagi.

Here are the possible mods I was thinking of...

1. Make the indi Multi-TF. If set to "0" then the indi will automatically re-set each time we select a different TF. But if a specific TF is selected (EG, M15), then no matter what TF we are viewing, we will only see the same info as the M15 chart, but scaled to fit the current TF.

2. Add a True/False input for viewing Fractals. If True, then Fractals will appear alongside our indy. If possible, make it so that the Fractals paint underneith our artifacts. This will need it's own color and size selections.

3. Add a True/False input for viewing a focal point triangle as shown in the pic. The lines extend to where they touch, but no further. This will need it's own color and line thickness selections.

4. This one is the most difficult... Right now the indy searches for the last -n- high points, and they can be anywhere on the chart. But, can you make it so that the points it finds coincide with Fibs instead? This will mean a True/False "UseFibs" input. If True then it will search for the number of points according to the Number_Points input just like it does now, but instead of locating random price points, it will highlight only the price points that conform to the Fib ratio.

I don't know how much of this is even possible, but these were the ideas that came to me while you were off on your holidays! LOL

I see. Will modify the code so that the number of points is set automatically by colors' settings.
And it seems that interesting ideas just keep coming, will try them soon.