Point and Figure Trend Line Indicator with Alerts
My Pine Script indicator, "PnF Bullish and Bearish Trend Backgrounds," visualizes bullish and bearish trends using Point and Figure (PnF) methodology.
Summary:
Input Parameters:
Box Size: Determines the price movement sensitivity.
Bullish/Bearish Angles: Set angles for defining trend slopes.
Trend Calculation:
The script calculates slopes based on input angles and updates trendlines based on price actions.
Alerts:
It generates alerts when price breaks bullish or bearish trendlines, signaling potential buy/sell opportunities.
Visualization:
Trendlines are plotted in green (bullish) and red (bearish), with background colors highlighting trendline breaks.
Background: Green (uptrend) Red (Downtrend) Overlap or Black (Neutral)
Usage:
Add to Chart: Load the script on TradingView.
Monitor Alerts: Keep an eye on alerts for trendline breaks.
Analyze Trends: Use the visual cues to identify potential market movements.
I'll release a video explanation of this indictor soon.
Summary:
Input Parameters:
Box Size: Determines the price movement sensitivity.
Bullish/Bearish Angles: Set angles for defining trend slopes.
Trend Calculation:
The script calculates slopes based on input angles and updates trendlines based on price actions.
Alerts:
It generates alerts when price breaks bullish or bearish trendlines, signaling potential buy/sell opportunities.
Visualization:
Trendlines are plotted in green (bullish) and red (bearish), with background colors highlighting trendline breaks.
Background: Green (uptrend) Red (Downtrend) Overlap or Black (Neutral)
Usage:
Add to Chart: Load the script on TradingView.
Monitor Alerts: Keep an eye on alerts for trendline breaks.
Analyze Trends: Use the visual cues to identify potential market movements.
I'll release a video explanation of this indictor soon.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.