TrendLine ScythesTrendline Scythes is a script designed to automatically detect and draw special curved trendlines, resembling scythes or blades, based on pivotal points in price action. These trendlines adapt to the volatility of the market, providing a unique perspective on trend dynamics.
🔲 Methodology
Traditional trendlines connect consecutive pivot points on a price chart, providing a linear representation of trend direction. However, this script employs a distinctive methodology by automatically detecting price pivots and then calculating special curved trendlines based on the Average True Range (ATR) of the price. This introduces a curvature to the trendlines, resembling scythes, offering a unique way to interpret market trends.
🔲 Auto Breakout and Target Detection
Trendline Scythes includes features for automatic breakout detection, signaling potential trend changes. Additionally, the script assists in target detection, helping traders set realistic and data-driven profit-taking levels based on market volatility and user adjustment.
🔲 Utility
Trend Confirmation - Use Trendline Scythes to confirm existing trends by observing how price interacts with the curved trendlines.
Breakout Signals - Auto-detection of breakouts adds a proactive element to your trading strategy, helping you stay ahead of potential trend reversals.
Target Setting - Utilize the script to set profit-taking targets based on volatility, aligning with the current market conditions.
🔲 Settings
Pivot Length - Swing detection length
Scythe Length - Adjusts the length of the scythes blade
Sensitivity - Controls how restrained the target calculation is, higher values will result in tighter targets.
🔲 Alerts
Breakout
Breakdown
Target Reached
Target Invalidated
As well as the option to trigger 'any alert' call.
Trendline Scythes is a versatile tool combining the benefits of traditional trendlines with the dynamic adaptability of curved lines for a unique approach to trend analysis.
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Trendline Breakouts With Volume Strength [TradeDots]Trendline Breakouts With Volume Strength is an innovative indicator designed to identify potential market turning points using pivot-based trendline detection and volume confirmation. By merging dynamic trendline analysis with multi-tiered volume filters, this tool helps traders quickly spot breakouts or breakdowns that may signal significant shifts in price action.
📝 HOW IT WORKS
1. Pivot-Based Trendline Detection
The script automatically scans for recent pivot highs and lows over a user-defined lookback period.
When it finds higher pivot lows, it plots green uptrend lines; when it finds lower pivot highs, it plots red downtrend lines.
These dynamic lines update as new pivots form, providing continuously refreshed trend guidance.
2. Volume Ratio Analysis
A moving average of volume is compared against the current bar’s volume to calculate a ratio (e.g., 1.5×, 2×).
Higher ratios suggest above-average volume, often interpreted as stronger participation.
The script applies color-coded cues to highlight the intensity of volume surges.
3. Breakout & Breakdown Detection
Each trendline is monitored for a defined “break threshold,” which helps avoid minor penetrations that can trigger premature signals.
When price closes beyond a threshold below an uptrend line, the indicator labels it a “BREAKDOWN.” If it closes above a threshold on a downtrend line, it labels it a “BREAKOUT.”
Volume surges accompanying these breaks are highlighted with contextual emojis and distinct color gradients for quick visual reference.
4. Trend Direction Table
A small on-chart table provides a snapshot of the current market trend—Uptrend, Downtrend, or Sideways—based on a simple moving average slope and the number of active uptrend or downtrend lines.
This table also displays quick stats on how many lines are actively tracked, helping traders assess the broader market posture at a glance.
🛠️ HOW TO USE
1. Choose a Timeframe
This script works on multiple timeframes. Intraday traders can monitor minute or hourly charts for frequent pivot updates, while swing and position traders may prefer daily or weekly intervals to reduce noise.
2. Observe Trendlines & Labels
Watch for newly drawn green/red lines connecting pivots.
When you see a “BREAKOUT” or “BREAKDOWN” label, confirm whether volume was abnormally high based on the ratio or color-coded bars.
3. Consult the Trend Table
Use the table in the bottom-right corner to quickly check if the market is trending or range-bound.
Look at the count of active uptrend vs. downtrend lines to gauge broader sentiment.
4. Employ Additional Analysis
Combine these signals with other tools (e.g., candlestick patterns, oscillators, or fundamental analysis).
Validate potential breakouts using standard techniques like retests or support/resistance checks.
❗️LIMITATIONS
Delayed Pivots: Trendlines only adjust once new pivot highs or lows form, which can introduce a slight lag in highly volatile environments.
Choppy Markets: Rapid, back-and-forth price moves may produce conflicting trendline signals and frequent breakouts/breakdowns.
Volume Data Reliability: Gaps in volume data or unusual market conditions (holidays, low-liquidity sessions) can skew ratio readings.
RISK DISCLAIMER
Trading any financial instrument involves substantial risk, and this indicator does not guarantee profits or prevent losses. All signals and visual cues are for educational and informational purposes only; past performance does not assure future outcomes. You retain full responsibility for your trading decisions, including proper risk management, position sizing, and the use of additional confirmation methods. Always consider the possibility of losing some or all of your original investment.
Trendline Breakout Navigator [LuxAlgo]The Trendline Breakout Navigator indicator shows three trendlines, representing trends of different significance between Swing Points.
Dots highlight a Higher Low (HL) or Lower High (LH) that pierces through the Trendline without the closing price breaking the Trendline.
A bar color and background color option is included, which offers insights into the price against the trendlines.
🔶 USAGE
Trendlines (TL) are drawn, starting as a horizontal line from a Swing Point.
When an HL (in the case of a bullish TL) or an LH (bearish TL) is found, this Swing Point is connected to the first Swing Point. In both cases, the TL can be optimized when one or more historical close prices breach the TL (see DETAILS).
A solid-styled long-term trendline represents the overall market direction, while a dashed-styled medium-term trendline captures medium-term movements within the long-term trend. Finally, a dotted-styled short-term trendline tracks short-term fluctuations.
🔹 Swing Points vs. Trend
A "Higher High" (HH) or "Lower Low" (LL) will initialize a new trendline, respectively, starting from the previous "Swing Low" or Swing High".
To spot the trend shift, "HH/LL" labels and an optional background color are included. They can be enabled/disabled or set at "Long, Medium, or Short" term TL (Settings—"MS", "HH/LL" and "Background Color").
These features are linked to one Trendline of choice only.
Where the "HH/LL" labels can show a potential trend shift, the background color is:
Green from the moment the close price breaks above a bearish trendline or when an HH occurs
Red from the moment the close price breaks below a bullish trendline or when an LL occurs
🔹 Bar Color
The bar color will depend on the location of the closing price against the three trendlines. When a trendline is unavailable (for example, if the close price breaks the TL and there is no HH/LL), the last known trendline value will be considered.
All three trendlines influence the bar color.
If the close price is above the "Long Term" TL, the bar color will show a gradient of green, darker when the close price is below the "Medium Term" and/or "Short Term" TLs.
On the other hand, when the close price is below the "Long Term" TL, the bar color will show a gradient of red, which becomes darker when the close price is above the "Medium Term" and/or "Short Term" TLs.
To keep the above example simple, only the "Long Term" TL is considered. The white line (not included in the script) resembles the actual value of the TL at each bar, where you can see the effect on the bar color.
Combined with the trendlines and dots, the bar color can provide extra depth and insights into the underlying trends.
🔹 Tested Trendlines
If a new HL/LH pierces the Trendline without the close price breaking the Trendline, the Trendline will be updated.
The exact location where the price exceeded the Trendline is visualized by a dot, colored blue on a bullish trendline and orange when bearish.
These dots can be indicative of a potential trend continuation or reversal.
🔹 Higher TimeFrame Option
The "Period" setting enables users to visualize higher-timeframe trendlines as long as the line length doesn't exceed 5000 bars.
🔶 DETAILS
When a new trendline is drawn, the script first draws a preliminary line and then checks whether a historical close price exceeded this line above (in the case of a bearish TL) or below (in a bullish case).
Subsequently, the most valid point in between is chosen as the starting point of the Trendline.
🔶 SETTINGS
Period: Choose "chart" for trendlines from the current chart timeframe, or choose a higher timeframe
🔹 Swing Length
Toggle and Swing Length for three trendlines: Period used for the swing detection, with higher values returning longer-term Swing Levels.
🔹 Style
Trendline: color for bullish/bearish Trendline
Wick Dot: color for bullish/bearish trendline test
Term: Long-, medium- or short-term
HH/LL: Show HH/LL labels (with or without previous Swing High/Low) of chosen Term
Background Color: Green when the closing price is above the trendline of choice, red otherwise
Bar Color
TrendLine Toolkit w/ Breaks (Real-Time)The TrendLine Toolkit script introduces an innovating capability by extending the conventional use of trendlines beyond price action to include oscillators and other technical indicators. This tool allows traders to automatically detect and display trendlines on any TradingView built-in oscillator or community-built script, offering a versatile approach to trend analysis. With breakout detection and real-time alerts, this script enhances the way traders interpret trends in various indicators.
🔲 Methodology
Trendlines are a fundamental tool in technical analysis used to identify and visualize the direction and strength of a price trend. They are drawn by connecting two or more significant points on a price chart, typically the highs or lows of consecutive price movements (pivots).
Drawing Trendlines:
Uptrend Line - Connects a series of higher lows. It signals an upward price trend.
Downtrend Line - Connects a series of lower highs. It indicates a downward price trend.
Support and Resistance:
Support Line - A trendline drawn under rising prices, indicating a level where buying interest is historically strong.
Resistance Line - A trendline drawn above falling prices, showing a level where selling interest historically prevails.
Identification of Trends:
Uptrend - Prices making higher highs and higher lows.
Downtrend - Prices making lower highs and lower lows.
Sideways (or Range-bound) - Prices moving within a horizontal range.
A trendline helps confirm the existence and direction of a trend, providing guidance in aligning with the prevailing market sentiment. Additionally, they are usually paired with breakout analysis, a breakout occurs when the price breaches a trendline. This signals a potential change in trend direction or an acceleration of the existing trend.
The script adapts this methodology to oscillators and other indicators. Instead of relying on price pivots, which can only be detected in retrospect, the script utilizes a trailing stop on the oscillator to identify potential swings in real-time, you may find more info about it here (SuperTrend toolkit) . We detect swings or pivots simply by testing for crosses between the indicator and its trailing stop.
type oscillator
float o = Oscillator Value
float s = Trailing Stop Value
oscillator osc = oscillator.new()
bool l = ta.crossunder(osc.o, osc.s) => Utilized as a formed high
bool h = ta.crossover (osc.o, osc.s) => Utilized as a formed low
This approach enables the algorithm to detect trendlines between consecutive pivot highs or lows on the oscillator itself, providing a dynamic and immediate representation of trend dynamics.
🔲 Breakout Detection
The script goes beyond trendline creation by incorporating breakout detection directly within the oscillator. After identifying a trendline, the algorithm continuously monitors the oscillator for potential breakouts, signaling shifts in market sentiment.
🔲 Setup Guide
A simple example on one of my public scripts, Z-Score Heikin-Ashi Transformed
🔲 Settings
Source - Choose an oscillator source of which to base the Toolkit on.
Zeroing - The Mid-Line value of the oscillator, for example RSI & MFI use 50.
Sensitivity - Calibrates the Sensitivity of which TrendLines are detected, higher values result in more detections.
🔲 Alerts
Bearish TrendLine
Bullish TrendLine
Bearish Breakout
Bullish Breakout
As well as the option to trigger 'any alert' call.
By integrating trendline analysis into oscillators, this Toolkit enhances the capabilities of technical analysis, bringing a dynamic and comprehensive approach to identifying trends, support/resistance levels, and breakout signals across various indicators.
Trendline Pivots [QuantVue]Trendline Pivots
The Trend Line Pivot Indicator works by automatically drawing and recognizing downward trendlines originating from and connecting pivot highs or upward trendlines originating from and connecting pivot lows.
These trendlines serve as reference points of potential resistance and support within the market.
Once identified, the trend line will continue to be drawn and progress with price until one of two conditions is met: either the price closes(default setting) above or below the trend line, or the line reaches a user-defined maximum length.
If the price closes(default setting) above a down trend line or below an up trend line, an "x" is displayed, indicating the resistance or support has been broken. At the same time, the trend line transforms into a dashed format, enabling clear differentiation from active non-breached trend lines.
This indicator is fully customizable from line colors, pivot length, the number lines you wish to see on your chart and works on any time frame and any market.
Don't hesitate to reach out with any questions or concerns.
We hope you enjoy!
Cheers.
Trendline Breaks with Multi Fibonacci Supertrend StrategyTMFS Strategy: Advanced Trendline Breakouts with Multi-Fibonacci Supertrend
Elevate your algorithmic trading with institutional-grade signal confluence
Strategy Genesis & Evolution
This advanced trading system represents the culmination of a personal research journey, evolving from my custom " Multi Fibonacci Supertrend with Signals " indicator into a comprehensive trading strategy. Built upon the exceptional trendline detection methodology pioneered by LuxAlgo in their " Trendlines with Breaks " indicator, I've engineered a systematic framework that integrates multiple technical factors into a cohesive trading system.
Core Fibonacci Principles
At the heart of this strategy lies the Fibonacci sequence application to volatility measurement:
// Fibonacci-based factors for multiple Supertrend calculations
factor1 = input.float(0.618, 'Factor 1 (Weak/Fibonacci)', minval = 0.01, step = 0.01)
factor2 = input.float(1.618, 'Factor 2 (Medium/Golden Ratio)', minval = 0.01, step = 0.01)
factor3 = input.float(2.618, 'Factor 3 (Strong/Extended Fib)', minval = 0.01, step = 0.01)
These precise Fibonacci ratios create a dynamic volatility envelope that adapts to changing market conditions while maintaining mathematical harmony with natural price movements.
Dynamic Trendline Detection
The strategy incorporates LuxAlgo's pioneering approach to trendline detection:
// Pivotal swing detection (inspired by LuxAlgo)
pivot_high = ta.pivothigh(swing_length, swing_length)
pivot_low = ta.pivotlow(swing_length, swing_length)
// Dynamic slope calculation using ATR
slope = atr_value / swing_length * atr_multiplier
// Update trendlines based on pivot detection
if bool(pivot_high)
upper_slope := slope
upper_trendline := pivot_high
else
upper_trendline := nz(upper_trendline) - nz(upper_slope)
This adaptive trendline approach automatically identifies key structural market boundaries, adjusting in real-time to evolving chart patterns.
Breakout State Management
The strategy implements sophisticated state tracking for breakout detection:
// Track breakouts with state variables
var int upper_breakout_state = 0
var int lower_breakout_state = 0
// Update breakout state when price crosses trendlines
upper_breakout_state := bool(pivot_high) ? 0 : close > upper_trendline ? 1 : upper_breakout_state
lower_breakout_state := bool(pivot_low) ? 0 : close < lower_trendline ? 1 : lower_breakout_state
// Detect new breakouts (state transitions)
bool new_upper_breakout = upper_breakout_state > upper_breakout_state
bool new_lower_breakout = lower_breakout_state > lower_breakout_state
This state-based approach enables precise identification of the exact moment when price breaks through a significant trendline.
Multi-Factor Signal Confluence
Entry signals require confirmation from multiple technical factors:
// Define entry conditions with multi-factor confluence
long_entry_condition = enable_long_positions and
upper_breakout_state > upper_breakout_state and // New trendline breakout
di_plus > di_minus and // Bullish DMI confirmation
close > smoothed_trend // Price above Supertrend envelope
// Execute trades only with full confirmation
if long_entry_condition
strategy.entry('L', strategy.long, comment = "LONG")
This strict requirement for confluence significantly reduces false signals and improves the quality of trade entries.
Advanced Risk Management
The strategy includes sophisticated risk controls with multiple methodologies:
// Calculate stop loss based on selected method
get_long_stop_loss_price(base_price) =>
switch stop_loss_method
'PERC' => base_price * (1 - long_stop_loss_percent)
'ATR' => base_price - long_stop_loss_atr_multiplier * entry_atr
'RR' => base_price - (get_long_take_profit_price() - base_price) / long_risk_reward_ratio
=> na
// Implement trailing functionality
strategy.exit(
id = 'Long Take Profit / Stop Loss',
from_entry = 'L',
qty_percent = take_profit_quantity_percent,
limit = trailing_take_profit_enabled ? na : long_take_profit_price,
stop = long_stop_loss_price,
trail_price = trailing_take_profit_enabled ? long_take_profit_price : na,
trail_offset = trailing_take_profit_enabled ? long_trailing_tp_step_ticks : na,
comment = "TP/SL Triggered"
)
This flexible approach adapts to varying market conditions while providing comprehensive downside protection.
Performance Characteristics
Rigorous backtesting demonstrates exceptional capital appreciation potential with impressive risk-adjusted metrics:
Remarkable total return profile (1,517%+)
Strong Sortino ratio (3.691) indicating superior downside risk control
Profit factor of 1.924 across all trades (2.153 for long positions)
Win rate exceeding 35% with balanced distribution across varied market conditions
Institutional Considerations
The strategy architecture addresses execution complexities faced by institutional participants with temporal filtering and date-range capabilities:
// Time Filter settings with flexible timezone support
import jason5480/time_filters/5 as time_filter
src_timezone = input.string(defval = 'Exchange', title = 'Source Timezone')
dst_timezone = input.string(defval = 'Exchange', title = 'Destination Timezone')
// Date range filtering for precise execution windows
use_from_date = input.bool(defval = true, title = 'Enable Start Date')
from_date = input.time(defval = timestamp('01 Jan 2022 00:00'), title = 'Start Date')
// Validate trading permission based on temporal constraints
date_filter_approved = time_filter.is_in_date_range(
use_from_date, from_date, use_to_date, to_date, src_timezone, dst_timezone
)
These capabilities enable precise execution timing and market session optimization critical for larger market participants.
Acknowledgments
Special thanks to LuxAlgo for the pioneering work on trendline detection and breakout identification that inspired elements of this strategy. Their innovative approach to technical analysis provided a valuable foundation upon which I could build my Fibonacci-based methodology.
This strategy is shared under the same Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) license as LuxAlgo's original work.
Past performance is not indicative of future results. Conduct thorough analysis before implementing any algorithmic strategy.
TrendLineScalping-BasicDear Traders,
Here is the thought which came to my mind on the trendline break scalping. sometimes during the trade we do plot trendlines and we do anticipate for the line to break and take a trade. with the same thing in mind I had created this basic script to help you and other to create based on the logic used in the script.
This is just a logic based script and doesn't do any kind of wonders. Hence you may use it as necessary.
Regards....
TrendLine ChannelsAbstract
This script provides a set of Trendline Channels which can be tighter than Donchian Channels.
This script computes the most suitable active upper and lower trendlines and updates them as soon as possible.
We can use it for breakout signals earlier than Donchian Channels.
Introduction
Channels are tools which can mark area of values of ranging markets.
Once the price leaves the original region, range traders may start admitting they are wrong and trigger trend.
Donchian Channels (misheard as Dungeon Channels) use the highest and the lowest price to define area of values.
When the price breakouts, it just like it got released from a dungeon.
However, waiting for the price making even higher or lower may be too late and risk reward ratio may be lower.
Trendlines can make the channels tighter and we can find earlier breakout signals.
Computing Trendline Channels
(1) Find the most active trendlines
In this script, a valid trendline connects two high values or two low values.
A high value means the highest value in a trading day.
A low value means the lowest value in a trading day.
In this script, every trendline does not crossover any bar but can exactly touch them.
The most flat trendline is taken. (one for upper and one for lower)
(2) Continue to use or Change a trendline
If there is a tighter trendline available, this script changes to use it.
If the previous active trendline is broken, this script re-computes the trendline available.
When this case happens, this script display with an another color.
Otherwise, this script continues using the previous trendline.
(3) Middle line
The middle line indicates the middle value between the upper and the lower.
Parameters
Length : how many days are used for computation. The default value is 16 just because 16=4*4, using binary characteristic.
x_go_on : If the previous trendline is not breakout and there are no tighter trendlines available, we continue use it.
Color Options
(1) Upper trendline (no update or tighter)
(2) Upper trendline (changed due to breakout)
(3) Middle line
(4) Lower trendline (no update or tighter)
(5) Lower trendline (changed due to breakout)
Conclusion
Trendline Channels can be tighter than Donchian Channels and evaluate earlier breakout signals.
Comparing to known auto trendline scripts, Trendline Channels is continuous.
Once a trendline is broken, Trendline Channels can instantly point out the next available one.
If you think the price movement is boring or you cannot have good risk reward ratio, you can go to an another timeframe.
Reference
How to trade with Donchian Channels
How to trade with Trendlines
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Trendline Breakouts With Targets [ChartPrime]The Trendline Breakouts With Targets indicator is meticulously crafted to improve trading decision-making by pinpointing trendline breakouts and breakdowns through pivot point analysis.
Here's a comprehensive look at its primary functionalities:
Upon the occurrence of a breakout or breakdown, a signal is meticulously assessed against a false signal condition/filter, after which the indicator promptly generates a trading signal. Additionally, it conducts precise calculations to determine potential target levels and then exhibits them graphically on the price chart.
🔷 Key Features:
🔸 Trendline Drawing: The indicator automatically plots trendlines based on significant pivot points and wick data, visually representing the prevailing trend.
🔸 Breakout and Breakdown Signals : It triggers trading signals when a breakout (price moves above the trendline) or a breakdown (price moves below the trendline) is detected, helping traders identify potential entry points.
🔸 False Breakout/ Breakdown Filter ✔️: To enhance accuracy, the indicator incorporates a filter to reduce false breakout and breakdown signals, helping traders avoid premature entries.
🔸 Target Calculation: The indicator performs target-level calculations, a critical aspect of trade management.
These calculated target levels are visually displayed on the price chart, helping traders set precise profit targets and make well-informed trading decisions.
🔸 Color-Change Labels: The indicator features label color changes to provide quick visual cues. Labels are initially displayed in orange. When a take profit (TP) level is reached, the label changes to green, indicating a successful trade. Conversely, if a stop-loss (SL) level is hit, the label turns red, signaling a losing trade.
🔸 Settings :
This indicator combines technical analysis, trendline identification, breakout/breakdown signals, and risk management tools to assist traders in making more informed and efficient trading decisions. It can be a valuable addition to any trader's toolkit, helping them identify potential trade opportunities and manage risk effectively.
Tetra Trendline Indicator 2.0This script is designed to help traders visualize and identify potential overbought and oversold conditions in a financial instrument's price chart using four customizable trendlines. It also provides the option to set alerts for these conditions. Users can adjust the input parameters to tailor the indicator's behavior to their trading preferences.
Input Parameters: The script allows users to configure various input parameters to customize the behavior of the indicator. These parameters include:
showTrendlineX: Boolean inputs to control whether to show each of the four trendlines (Trendline 1, Trendline 2, Trendline 3, and Trendline 4).
trendlineColorX: Color inputs to specify the color of each trendline.
trendlineWidthX: Numeric inputs to set the width of each trendline.
trendlineLengthX: Numeric inputs to determine the length of each trendline.
alertOnTrendlineXBreak: Boolean inputs to enable or disable alerts for each trendline when they are breached.
Trendline Calculations: The script calculates the coordinates for each of the four trendlines. It does this by identifying the starting and ending points of each trendline based on user-defined parameters and the highest or lowest price levels within a specified length.
Plotting Trendlines: The script uses the plot function to display the calculated trendlines on the price chart. It also fills the area between the trendlines to visually emphasize the region.
Alert Conditions: The script defines alert conditions for each trendline. Alerts are triggered when certain price conditions are met:
Trendline 1: An alert is triggered when the price crosses above the Trendline 1 (indicating overbought conditions).
Trendline 2: An alert is triggered when the price crosses below the Trendline 2 (indicating oversold conditions).
Trendline 3: Similar to Trendline 1, an alert is triggered when the price crosses above Trendline 3 (overbought).
Trendline 4: Similar to Trendline 2, an alert is triggered when the price crosses below Trendline 4 (oversold).
Dynamic Touch Trendlines [QuantVue]The Dynamic Touch Trendlines (DTT) indicator automatically draws and manages trendlines on your chart, helping traders identify key support and resistance levels.
What sets the DTT indicator apart from other trendline indicators is its ability to let traders customize the number of touches required to validate a trendline. This flexibility allows you to fine-tune the indicator for different markets or trading styles, ensuring only strong trendlines with the specified number of touches are considered valid.
This indicator features both uptrend lines (drawn from pivot lows) and downtrend lines (drawn from pivot highs), making it suitable for detecting bullish and bearish trends.
An uptrend line connects three (default setting) or more significant lows, showing where price has historically found support. Traders often look for price to bounce off this line during pullbacks in an uptrend.
When price breaks below an uptrend line, it suggests a weakening of the bullish trend. This could mean that buyers are losing strength, and the market may be transitioning into a bearish phase, providing a potential opportunity for traders to enter short positions or exit long positions.
Conversely, a downtrend line connects three (default setting) or more significant highs, indicating potential resistance in a downtrend. Price action below this line can signal continued bearish momentum.
When price breaks above a downtrend line, it indicates a potential reversal of the bearish trend. This can signal the end of selling pressure and the beginning of a new bullish phase, offering traders a potential opportunity to enter long positions.
Key settings:
Minimum Touches: This sets the number of price touches required to validate a trendline. Increasing the minimum touches filters out weaker trends, ensuring that only more reliable trendlines are drawn.
Buffer: The buffer is used to account for minor price overshoots or near misses relative to the trendline. It creates a margin around the trendline, allowing price to come close to the line—whether it overshoots slightly or falls just short—and still count as a valid touch. This helps ensure that small price fluctuations or market noise don’t prevent valid trendline touches from being recognized, making the trendlines more reliable.
Trendline Break Source: Allows traders to define how a trendline is considered broken—either based on the close of the price bar or the wicks (highs and lows) of the price action.
The DTT indicator also features alerts whenever a new trendline is detected or an existing trendline is broken!
Auto AI Trendlines [TradingFinder] Clustering & Filtering Trends🔵 Introduction
Auto AI trendlines Clustering & Filtering Trends Indicator, draws a variety of trendlines. This auto plotting trendline indicator plots precise trendlines and regression lines, capturing trend dynamics.
Trendline trading is the strongest strategy in the financial market.
Regression lines, unlike trendlines, use statistical fitting to smooth price data, revealing trend slopes. Trendlines connect confirmed pivots, ensuring structural accuracy. Regression lines adapt dynamically.
The indicator’s ascending trendlines mark bullish pivots, while descending ones signal bearish trends. Regression lines extend in steps, reflecting momentum shifts. As the trend is your friend, this tool aligns traders with market flow.
Pivot-based trendlines remain fixed once confirmed, offering reliable support and resistance zones. Regression lines, adjusting to price changes, highlight short-term trend paths. Both are vital for traders across asset classes.
🔵 How to Use
There are four line types that are seen in the image below; Precise uptrend (green) and downtrend (red) lines connect exact price extremes, while Pivot-based uptrend and downtrend lines use significant swing points, both remaining static once formed.
🟣 Precise Trendlines
Trendlines only form after pivot points are confirmed, ensuring reliability. This reduces false signals in choppy markets. Regression lines complement with real-time updates.
The indicator always draws two precise trendlines on confirmed pivot points, one ascending and one descending. These are colored distinctly to mark bullish and bearish trends. They remain fixed, serving as structural anchors.
🟣 Dynamic Regression Lines
Regression lines, adjusting dynamically with price, reflect the latest trend slope for real-time analysis. Use these to identify trend direction and potential reversals.
Regression lines, updated dynamically, reflect real-time price trends and extend in steps. Ascending lines are green, descending ones orange, with shades differing from trendlines. This aids visual distinction.
🟣 Bearish Chart
A Bullish State emerges when uptrend lines outweigh or match downtrend lines, with recent upward momentum signaling a potential rise. Check the trend count in the state table to confirm, using it to plan long positions.
🟣 Bullish Chart
A Bearish State is indicated when downtrend lines dominate or equal uptrend lines, with recent downward moves suggesting a potential drop. Review the state table’s trend count to verify, guiding short position entries. The indicator reflects this shift for strategic planning.
🟣 Alarm
Set alerts for state changes to stay informed of Bullish or Bearish shifts without constant monitoring. For example, a transition to Bullish State may signal a buying opportunity. Toggle alerts On or Off in the settings.
🟣 Market Status
A table summarizes the chart’s status, showing counts of ascending and descending lines. This real-time overview simplifies trend monitoring. Check it to assess market bias instantly.
Monitor the table to track line counts and trend dominance.
A higher count of ascending lines suggests bullish bias. This helps traders align with the prevailing trend.
🔵 Settings
Number of Trendlines : Sets total lines (max 10, min 3), balancing chart clarity and trend coverage.
Max Look Back : Defines historical bars (min 50) for pivot detection, ensuring robust trendlines.
Pivot Range : Sets pivot sensitivity (min 2), adjusting trendline precision to market volatility.
Show Table Checkbox : Toggles display of a table showing ascending/descending line counts.
Alarm : Enable or Disable the alert.
🔵 Conclusion
The multi slopes indicator, blending pivot-based trendlines and dynamic regression lines, maps market trends with precision. Its dual approach captures both structural and short-term momentum.
Customizable settings, like trendline count and pivot range, adapt to diverse trading styles. The real-time table simplifies trend monitoring, enhancing efficiency. It suits forex, stocks, and crypto markets.
While trendlines anchor long-term trends, regression lines track intraday shifts, offering versatility. Contextual analysis, like price action, boosts signal reliability. This indicator empowers data-driven trading decisions.
Auto TrendLines [TradingFinder] Support Resistance Signal Alerts🔵 Introduction
The trendline is one of the most essential tools in technical analysis, widely used in financial markets such as Forex, cryptocurrency, and stocks. A trendline is a straight line that connects swing highs or swing lows and visually indicates the market’s trend direction.
Traders use trendlines to identify price structure, the strength of buyers and sellers, dynamic support and resistance zones, and optimal entry and exit points.
In technical analysis, trendlines are typically classified into three categories: uptrend lines (drawn by connecting higher lows), downtrend lines (formed by connecting lower highs), and sideways trends (moving horizontally). A valid trendline usually requires at least three confirmed touchpoints to be considered reliable for trading decisions.
Trendlines can serve as the foundation for a variety of trading strategies, such as the trendline bounce strategy, valid breakout setups, and confluence-based analysis with other tools like candlestick patterns, divergences, moving averages, and Fibonacci levels.
Additionally, trendlines are categorized into internal and external, and further into major and minor levels, each serving unique roles in market structure analysis.
🔵 How to Use
Trendlines are a key component in technical analysis, used to identify market direction, define dynamic support and resistance zones, highlight strategic entry and exit points, and manage risk. For a trendline to be reliable, it must be drawn based on structural principles—not by simply connecting two arbitrary points.
🟣 Selecting Pivot Types Based on Trend Direction
The first step is to determine the market trend: uptrend, downtrend, or sideways.
Then, choose pivot points that match the trend type :
In an uptrend, trendlines are drawn by connecting low pivots, especially higher lows.
In a downtrend, trendlines are formed by connecting high pivots, specifically lower highs.
It is crucial to connect pivots of the same type and structure to ensure the trendline is valid and analytically sound.
🟣 Pivot Classification
This indicator automatically classifies pivot points into two categories :
Major Pivots :
MLL : Major Lower Low
MHL : Major Higher Low
MHH : Major Higher High
MLH : Major Lower High
These define the primary structure of the market and are typically used in broader structural analysis.
Minor Pivots :
mLL: minor Lower Low
mHL: minor Higher Low
mHH: minor Higher High
mLH: minor Lower High
These are used for drawing more precise trendlines within corrective waves or internal price movements.
Example : In a downtrend, drawing a trendline from an MHH to an mHH creates structural inconsistency and introduces noise. Instead, connect points like MHL to MHL or mLH to mLH for a valid trendline.
🟣 Drawing High-Precision Trendlines
To ensure a reliable trendline :
Use pivots of the same classification (Major with Major or Minor with Minor).
Ensure at least three valid contact points (three touches = structural confirmation).
Draw through candles with the least deviation (choose wicks or bodies based on confluence).
Preferably draw from right to left for better alignment with current market behavior.
Use parallel lines to turn a single trendline into a trendline zone, if needed.
🟣 Using Trendlines for Trade Entries
Bounce Entry: When price approaches the trendline and shows signs of reversal (e.g., a reversal candle, divergence, or support/resistance), enter in the direction of the trend with a logical stop-loss.
Breakout Entry: When price breaks through the trendline with strong momentum and a confirmation (such as a retest or break of structure), consider trading in the direction of the breakout.
🟣 Trendline-Based Risk Management
For bounce entries, the stop-loss is placed below the trendline or the last pivot low (in an uptrend).
For breakout entries, the stop-loss is set behind the breakout candle or the last structural level.
A broken trendline can also act as an exit signal from a trade.
🟣 Combining Trendlines with Other Tools (Confluence)
Trendlines gain much more strength when used alongside other analytical tools :
Horizontal support and resistance levels
Moving averages (such as EMA 50 or EMA 200)
Fibonacci retracement zones
Candlestick patterns (e.g., Engulfing, Pin Bar)
RSI or MACD divergences
Market structure breaks (BoS / ChoCH)
🔵 Settings
Pivot Period : This defines how sensitive the pivot detection is. A higher number means the algorithm will identify more significant pivot points, resulting in longer-term trendlines.
Alerts
Alert :
Enable or disable the entire alert system
Set a custom alert name
Choose how often alerts trigger (every time, once per bar, or on bar close)
Select the time zone for alert timestamps (e.g., UTC)
Each trendline type supports two alert types :
Break Alert : Triggered when price breaks the trendline
React Alert : Triggered when price reacts or bounces off the trendline
These alerts can be independently enabled or disabled for all trendline categories (Major/Minor, Internal/External, Up/Down).
Display :
For each of the eight trendline types, you can control :
Whether to show or hide the line
Whether to delete the previous line when a new one is drawn
Color, line style (solid, dashed, dotted), extension direction (e.g., right only), and width
Major lines are typically thicker and more opaque, while minor lines appear thinner and more transparent.
All settings are designed to give the user full control over the appearance, behavior, and alert system of the indicator, without requiring manual drawing or adjustments.
🔵 Conclusion
A trendline is more than just a line on the chart—it is a structural, strategic, and flexible tool in technical analysis that can serve as the foundation for understanding price behavior and making trading decisions. Whether in trending markets or during corrections, trendlines help traders identify market direction, key zones, and high-potential entry and exit points with precision.
The accuracy and effectiveness of a trendline depend on using structurally valid pivot points and adhering to proper market logic, rather than relying on guesswork or personal bias.
This indicator is built to solve that exact problem. It automatically detects and draws multiple types of trendlines based on actual price structure, separating them into Major/Minor and Internal/External categories, and respecting professional analytical principles such as pivot type, trend direction, and structural location.
Simple Trendlines📈 Trendlines, made easy.
Simple Trendlines is a carefully made library that provides an easy and accessible way to draw trendlines on the chart.
Containing only 10 properties and 2 methods, the implementation is designed to be understandable through an object-oriented structure and provides developers the opportunity to expand without having to deal with slope calculation while also ensuring that there's no leakage between the trendlines before they're drawn.
Developers only need to provide 5 expressions to get everything up in running. This includes the following but is not limited to
The x-axis
Point A (Y1 Value)
Point B (Y2 Value)
A condition to draw the line
A condition to keep the trendline under continuation
Automatic x-axis calculation is not a built-in feature due to the inconsistency it could bring.
📕 Quick Example
import HoanGhetti/SimpleTrendlines/1 as tl
input_len = input.int(defval = 10)
pivotLow = fixnan(ta.pivotlow(input_len, input_len))
xAxis = ta.valuewhen(ta.change(pivotLow), bar_index, 0) - ta.valuewhen(ta.change(pivotLow), bar_index, 1)
prevPivot = ta.valuewhen(ta.change(pivotLow), pivotLow, 1)
pivotCondition = ta.change(pivotLow) and pivotLow > prevPivot
plData = tl.new(x_axis = xAxis, offset = input_len)
plData.drawLine(pivotCondition, prevPivot, pivotLow)
plData.drawTrendline(close > 0)
plData.lines.trendline.set_style(line.style_dashed)
plData.lines.trendline.set_width(2)
plData.lines.startline.set_width(2)
Excluding the styling at the bottom, that was only 8 lines of code which yields the following result.
⏳ Before continuing
The library does not support block-scoped execution. Conditions must be declared before and integrated as a parameter. This doesn't limit any capabilities and only involves thinking logically about precedence. It was made this way for code readability and to keep things organized.
The offset value inside the TrendlineSettings object can potentially affect performance (although very minimal) if you're using strict mode. When using strict mode, it loops through historical values to then do backend calculations.
🔽 Getting Started 🔽
Creating trendlines without a library isn't a hard task. However, the library features a built-in system called strict mode. We'll dive further into this below.
Creating an Instance
You can create an instance of the library by calling the new() function. Passing an identifier is conventionally mandatory in this case so you can reference properties and methods.
import HoanGhetti/SimpleTrendlines/2 as tl
lineData = tl.new(int x_axis, int offset, bool strictMode, int strictType)
___
int x_axis (Required) The distance between point A and point B provided by the user.
int offset (Optional) The offset from x2 and the current bar_index. Used in situations where conditions execute ahead of where the x2 location is such as pivót events.
bool strictMode (Optional) Strict mode works in the backend of things to ensure that the price hasn't closed below the trendline before the trendline is drawn.
int strictType (Optional) Only accepts 0 and 1, 0 ensures that the price during slope calculation is above the line, and 1 ensures that the price during slope calculation is below the line.
The Initial Line
After instantiating the library, we can go ahead use the identifer we made above and create an instance of our initial line by calling the drawLine() method.
lineData.drawLine(bool condition, float y1, float y2, float src)
___
bool condition (Required) The condition in order to draw a new line.
float y1 (Required) The y-value of point A.
float y2 (Required) The y-value of point B.
float src (Optional) Determines which value strict mode will actively check for leakage before a trendline is drawn.
Typically used if you're not referencing OHLC values for your y-values, or you want to check for another value to exceed the line besides using the close value.
The Trendline
The trendline that gets drawn solely uses the values of the initial line and can be called using the drawTrendline() method. The library enforces a condition as a parameter in order to maintain simplicity.
lineData.drawTrendline(bool condition)
___
bool condition (Required) The condition in order to maintain and continue drawing the trendline.
⚙️ Features
🔹 Automatic Slope Calculation
In the background, the library calculates the next Y2 and X2 values on every tick for the trendline. Preventing the developer from having to do such a process themself.
🔹 Object-Oriented
Each object contains manipulative properties that allow the developer to debug and have the freedom they want.
🔹 Enforced Error Checking
Runtime errors have been put in place to ensure you're doing things correctly.
🔹 Strict Mode & Offset
Strict mode can only be used when the offset value is over 0. It's a feature that's only meant to function under scenarios where a condition executes further than where the X2 is relative to the current bar_index value.
Let's think about pivot systems. As you're aware, pivot events are detected based on historical factors. If a swing low occurred nth bars ago, then the pivot condition will execute at the current bar_index instead of executing nth bars back.
Now because of this, what if you wanted to draw a trendline when the pivot event is executed? The offset value takes care of this just as you would when developing your other scripts, basically how we always do bar_index - n. However, what does this mean for strict mode?
The photo below represents the logic behind the execution.
When looking at this image, imagine this just happened, the event just executed and the trendline is now drawn. Pay attention to all the values inside the surrounding box. As you can see there are some candles that closed below the trendline before the trendline was drawn.
From what I can see 5-6 candles closed below the trendline during slope calculation. The goal of strict mode is to be a provisional system that prevents such occurrences from happening.
Here's a photo with strict mode on.
🔹 Strict Type
A parameter used in the new() function that acts as a representation of what strict mode should calculate for. It accepts only two values, 0 and 1.
0 - Ensures that all candles have closed above the trendline before the trendline is drawn.
1 - Ensures that all candles have closed below the trendline before the trendline is drawn.
In the most recent photo above, I used 0 for strict type, since I was wanting to have a clean trendline and ensure that not a single candlestick closed below.
If you want to reference something else besides the close value during strict mode calculation, you can change it in the drawLine() method.
If it's still difficult to understand, think 0 for pivot lows, and 1 for pivot highs.
📕 Methods and Property Inheritance
The library isn't crazy, but hopefully, it helps.
That is all.👍
Stochastic Trendlines with Breakouts [Jamshid] - EnhancedStochastic Trendlines with Breakouts - Enhanced Version
This advanced Stochastic Trendlines with Breakouts script combines several powerful features to provide enhanced breakout detection based on the Stochastic Oscillator and additional confirmation signals. This script is designed to help traders identify key trend reversals, breakout points, and pivot levels with more accuracy by integrating advanced filters such as RSI confirmation, moving average trend filtering, volatility filtering, divergence detection, and multi-timeframe analysis.
Key Features:
Stochastic Oscillator-Based Breakouts:
Automatically detects breakouts based on the smoothed Stochastic Oscillator values (%K and %D), providing insights into overbought and oversold conditions.
Customizable overbought and oversold levels, with a mid-level (50) line for additional reference.
Trendlines on Pivot Points:
Automatically plots dynamic trendlines based on pivot highs and lows of the smoothed Stochastic %K, helping to visualize potential reversal points.
RSI Confirmation (Optional):
Filters breakout signals using the Relative Strength Index (RSI) to confirm breakouts only when the RSI is below 50 for downtrend breakouts and above 50 for uptrend breakouts.
Visual confirmation with a green "RSI Conf." label displayed on the chart when the RSI condition is met.
Moving Average Filter (Optional):
Confirms breakout signals in the direction of a user-defined Moving Average (MA) to trade in the overall market trend direction.
MA length is fully customizable.
Stochastic Divergence Filter (Optional):
Detects bullish or bearish divergence between the price and Stochastic Oscillator values, adding an extra layer of confirmation.
Multi-Timeframe Confirmation (Optional):
Confirms breakouts by checking the Stochastic %K and %D values from a higher timeframe. This helps in avoiding false signals by aligning with the broader market trend.
The higher timeframe can be customized to any timeframe (e.g., daily, weekly, etc.).
Volatility Filter (Optional):
Uses the ATR (Average True Range) to filter out breakouts during periods of low volatility, ensuring signals are only triggered when there is sufficient price movement.
ATR length and multiplier are fully customizable.
Custom Alerts:
Alerts are available for new trendline detections (both pivot high and pivot low) and for confirmed breakout signals. These alerts help traders stay informed in real-time without needing to monitor the chart continuously.
How to Use:
Customize the Stochastic Oscillator settings, such as %K smoothing and %D line parameters, to fit your trading strategy.
Enable or disable additional filtering features (RSI, MA, divergence, MTF, volatility) as needed.
Set up alerts for specific breakout conditions directly in TradingView to stay notified when breakout signals are triggered.
This script is designed for traders who are looking for precision breakout signals with added layers of confirmation to avoid false breakouts and enhance trading accuracy.
Machine Learning Trendlines Cluster [LuxAlgo]The ML Trendlines Cluster indicator allows traders to automatically identify trendlines using a machine learning algorithm based on k-means clustering and linear regression, highlighting trendlines from clustered prices.
For trader's convenience, trendlines can be filtered based on their slope, allowing them to filter out trendlines that are too horizontal, or instead keep them depending on the user-selected settings.
🔶 USAGE
Traders only need to set the number of trendlines (clusters) they want the tool to detect and the algorithm will do the rest.
By default the tool is set to detect 4 clusters over the last 500 bars, in the image above it is set to detect 10 clusters over the same period.
This approach only focuses on drawing trendlines from prices that share a common trading range, offering a unique perspective to traditional trendlines. Trendlines with a significant slope can highlight higher dispersion within its cluster.
🔹 Trendline Slope Filtering
Traders can filter trendlines by their slope to display only steep or flat trendlines relative to a user-defined threshold.
The image above shows the three different configurations of this feature:
Filtering disabled
Filter slopes above threshold
Filter slopes below threshold
🔶 DETAILS
K-means clustering is a popular machine-learning algorithm that finds observations in a data set that are similar to each other and places them in a group.
The process starts by randomly assigning each data point to an initial group and calculating the centroid for each. A centroid is the center of the group. K-means clustering forms the groups in such a way that the variances between the data points and the centroid of the cluster are minimized.
The trendlines are displayed according to the linear regression function calculated for each cluster.
🔶 SETTINGS
Window Size: Maximum number of bars to get data from
Clusters: Maximum number of clusters (trendlines) to detect
🔹 Optimization
Maximum Iteration Steps: Maximum loop iterations for cluster computation
🔹 Slope Filter
Threshold Multiplier: Multiplier applied to a volatility measure, higher multiplier equals higher threshold
Filter Slopes: Enable/Disable Trendline Slope Filtering, select to filter trendlines with slopes ABOVE or BELOW the threshold
🔹 Style
Upper Zone: Color to display in the top zone
Lower Zone: Color to display in the bottom zone
Lines: Style for the lines
Size: Line size
Dynamic Trendlines Multi-TimeframeThe Dynamic Trendlines indicator is a useful tool for traders to identify potential support and resistance levels in the market. By analyzing price volatility and drawing trendlines based on high volatility candles, it helps traders visualize key price levels that may influence future price action. This indicator uses the Average True Range (ATR) as a measure of price volatility to determine the threshold for high volatility candles. This indicator can be used on multiple time frames, so just choose which one works best for you!
The underlying concept of this indicator revolves around the calculation of the True Range and Average True Range. The True Range is the maximum value among the difference between the current high and low, the absolute value of the difference between the current high and previous close, and the absolute value of the difference between the current low and previous close. The ATR is then calculated as the simple moving average of the True Range over a user-defined period (default is 14). The threshold for high volatility candles is determined by multiplying the ATR by a user-defined multiplier (default is 1.5).
The indicator identifies high volatility candles when the closing price is greater than the previous closing price plus the threshold. Based on the price action, trendlines are drawn connecting the high or low of high volatility candles. The initial color and style of the trendline are determined by whether the price is moving up or down. Green solid lines represent upward price movement, while red solid lines represent downward price movement.
As the price crosses the trendlines, the indicator tracks the number of crosses and updates the line's style accordingly. If the price crosses a trendline twice, the line style is changed to dashed, indicating the potential weakening of the support or resistance level.
This indicator works best with trading methods that focus on capturing price breakouts or reversals. Traders can use the trendlines to identify potential entry or exit points, stop-loss levels, or take-profit targets. It's important to note that this indicator should be used in conjunction with other technical analysis tools and an understanding of the overall market context to make informed trading decisions.
When using the Dynamic Trendlines indicator on TradingView, users can customize the ATR length, threshold multiplier, and the number of recent trendlines displayed on the chart. Additionally, small triangles are plotted below high volatility candles, with their color based on the trendline it starts, providing a quick visual reference for traders.
In summary, the Dynamic Trendlines indicator is a valuable tool for identifying potential support and resistance levels in the market by analyzing price volatility and drawing trendlines based on high volatility candles. It is best suited for breakout and reversal trading strategies and should be used in conjunction with other technical analysis tools for optimal results.
RSI Trendlines with BreakoutsA pivot-based breakout indicator that attempts to provide traders with a visual aid for finding breakouts on the RSI. Similar to how we use trendlines on our charts, using them on the Relative Strength Index can also give us a sense of direction in the markets.
This script uses its own pivot-based system that checks for real-time swing levels and triggers a new pivot event after every dip and nth bars. The breakout alerts that are given were not designed to be taken as signals since their purpose is to provide an extra bit of confluence. Because of this, I added no other conditions that try to make the alerts "perfect", but instead, print every breakout that is detected. Despite stating this, I did happen to add a condition that checks the difference in RSI and the breakout value, but that's as far as it'll go.
There are alerts built-in to the script, along with adjustable repainting options.
🔳 Settings
Lookback Range: Lookback period to trigger a new pivot point when conditions are met.
RSI Difference: The difference between the current RSI value and the breakout value. How much higher in value should the current RSI be compared to the breakout value in order to detect a breakout?
RSI Settings
Styling Options
🔳 Repaint Options
On: Allows repainting
Off - Bar Confirmation: Prevents repainting and generates alerts when the bar closes. (1 candle later)
🔳 How it Works
Before a trendline is drawn, the script retrieves the slope between the previous pivot point and the current. Then it adds or subtracts the slope x amount of times (based on the lookback range) from the current pivot value until the current x-axis is reached. By doing this we can get a trendline that will detect a breakout accurately.
The result
When using the RSI Difference condition, the script will print breakouts whenever the condition is true, because of this dotted lines were added to track where the alert was triggered.
🔳 Alerts
Liquidity Trendline With Signals [BigBeluga]The Liquidity Trendline is an indicator designed to identify potential breakouts by utilizing pivot points. These pivotal moments can trigger significant market reactions, either by breaking out or by serving as breakout and retest signals.
🔶 FEATURES
The indicator contains the following features:
Period of the calculation
Padding (spacing between the 2 lines)
Signal for breakouts
🔶 USAGE
As shown in the example, breakouts can be powerful points to see reversions in the market and can lead to a lot of volatility in the market.
When a trendline is broken, a signal will be plotted; the user can disable/enable those signals.
A trendline is formed when 2 consecutive pivot points are found, each of them lower or higher than the previous one. this is the anchor point for our trend line that we will use to spot rejection or breakouts
The delay in the creation of those trend lines will be the period input used to find the pivot point on the chart.
Another good example is using these trendlines as simple retests.
Prices bouncing on top of them will suggest a possible continuation of the current trend.
We can filter out stronger breakouts by looking at how many times the price has rejected the trendline, more rejections will result in more liquidity once the price breaks it.
Signals are plotted on the chart for every breakout that happens.
Another good utility is simply using them as retest once the price breaks those levels and holding above/below them, indicating a possible support or resistance area used for confluence
Here is another good example of how we can correctly spot price deviating from our trendline and spotting powerful continuation in price.
As said before we can filter out bad and good breakouts simply by looking at how many times rejected from those levels.
More rejection will result in a stronger reaction
🔶 CONCLUSION
This script is as simple as that and can be used in a few ways to spot reversals, price continuation, or even sentiment in price (bullish or bearish).
Pivot Trendlines with Breaks [HG]🧾 Pivot Trendlines and Breaks
A script meant to debut and provide an example usage of the Simple Trendlines library using Pine Script's built-in pivot system.
In under 50 lines of code, with inputs, plots, styling, and alerts included we're able to create trendlines with a breakout system.
▶️ How it works
Calculating pivot points helps traders identify moments at which the market's attitude can shift from bullish to bearish. In the background, the script tracks pivot events for trendlines and uses a system that prevents any leakage between the trendlines before they are drawn.
⚫️ Settings
Pivot Length
Color Adjustments
⚫️ Alerts
Smarter SNR (Support and Ressistance, Trendline, MTF OSC)Built with love "Smarter SNR (Support and Ressistance, Trendline, MTF OSC) "
This indiator will show you Support & Ressistance, Good Trendline, and Multi-timeframe analyzing of Oscillator (Stochastic and RSI)
You can combine with your own strategy, or use this purely
DISCLAIMER :
Measure the risk first before use it in real market
Backtest The Strategy was very important, so you know the probability
Fundamentally Logical :
SNR -> Last 3 Zigzag Pivot
Trendline -> Using two last pivot for calculating the slope
Features :
1. SNR
2. Trendline
3. MTF Oscillator Analyzing
How to use it :
1. All Label, Table & Line can be turned on/off in settings
2. Pivot Period can be Adjusted in settings
3. All Label, Table & Line style can be adjusted in settings
Regards,
Hanabil
Ehlers Instantaneous Trendline V1 [CC]The Instantaneous Trendline was created by John Ehlers (Rocket Science For Traders pgs 109-110) and this indicator is perfect for determining the medium to long term trend. Buy when the indicator line is green and sell when it is red. I will be introducing a different version of this indicator which is perfect for short term trends so these will pair great together.
Let me know if there are other scripts you would like to see me publish or if you want something custom done!
