Wing's Trend Lines Indicator

• 09/08/2017 at 11:23 AM #45799
  Wing

  Hello.

  I thought I would make a thread for this indicator I submitted to the library. Details about it you can find here: https://www.prorealcode.com/prorealtime-indicators/wings-trend-lines/

  A lot of people have asked about the trend lines included in ProRealTime, but you can’t access them in your strategies. Well, now you sort of can, or something even better.

  If you want to discuss improvements or how to use for your trading (manual or automated) you can do that here.

  If anyone wants to help, we could try to update the indicator to the 10.3 version. We should be able to draw the lines into the future, so they don’t just stop at the recent bar. Alternatively, we could also work on removing the ugly vertical changes of the lines when there is a trend shift. Improvements can also be made to the way that it draws lines, by basing them on something else than RSI. Combining this indicator with one that displays high/low/open/close of previous day, and one that is able to draw other important horizontal leves could have great potential. It would be a lot of levels though.

  This is the main ‘indicator’ I use when I trade the DAX manually (100 tick TF). It has worked great for me. Sometimes you will be able draw trend lines too that the indicator can’t, and sometimes it draws indicators you would not have see yourself.

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  Nicolas

  

  Wing

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  09/08/2017 at 11:27 AM #45804
  Wing

  This is the code:

  //////////////////////////////////////////////////// // // Wing's Trend Lines - (Support and Resistance) // // Made by user "Wing" of ProRealCode.com // https://www.prorealcode.com/user/wing/ // ////////////////////////////////////////////////// // // Parameter: // p = 7 // 'lookback' / scale // LinesDisplayed=12 ////////////////////////////////////////////////// rs=RSI[p] once t1=0 once t2=0 once t3=0 once t4=0 once b1=0 once b2=0 once b3=0 once b4=0 once top=0 // Note that the numbers 1-2-3-4 may be corresponding to the default RSI parameter of 7. So that should perhaps be changed if you want different parameters if rs[4]>70 and high[4]>high[3] and high[4]>high[2] and high[4]>high[1] and high[4]>high and top=0 then t4=t3 t3=t2 t2=t1 t1=barindex-4 top=6 endif if rs[4]<30 and low[4]<low[3] and low[4]<low[2] and low[4]<low[1] and low[4]<low and top=0 then b4=b3 b3=b2 b2=b1 b1=barindex-4 top=6 endif if top>0 then top=top-1 endif // tops if high[barindex-t2]>high[barindex-t1] then linet1=high[barindex-t2]-(((barindex-t2)*sqrt(square(high[barindex-t1]-high[barindex-t2])))/(t1-t2)) else linet1=high[barindex-t2]+(((barindex-t2)*sqrt(square(high[barindex-t1]-high[barindex-t2])))/(t1-t2)) endif if high[barindex-t3]>high[barindex-t2] then linet2=high[barindex-t3]-(((barindex-t3)*sqrt(square(high[barindex-t2]-high[barindex-t3])))/(t2-t3)) else linet2=high[barindex-t3]+(((barindex-t3)*sqrt(square(high[barindex-t2]-high[barindex-t3])))/(t2-t3)) endif if high[barindex-t3]>high[barindex-t1] then linet21=high[barindex-t3]-(((barindex-t3)*sqrt(square(high[barindex-t1]-high[barindex-t3])))/(t1-t3)) else linet21=high[barindex-t3]+(((barindex-t3)*sqrt(square(high[barindex-t1]-high[barindex-t3])))/(t1-t3)) endif if high[barindex-t4]>high[barindex-t1] then linet3=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t1]-high[barindex-t4])))/(t1-t4)) else linet3=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t1]-high[barindex-t4])))/(t1-t4)) endif if high[barindex-t4]>high[barindex-t2] then linet31=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t2]-high[barindex-t4])))/(t2-t4)) else linet31=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t2]-high[barindex-t4])))/(t2-t4)) endif if high[barindex-t4]>high[barindex-t3] then linet32=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t3]-high[barindex-t4])))/(t3-t4)) else linet32=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t3]-high[barindex-t4])))/(t3-t4)) endif // bots if low[barindex-b2]>low[barindex-b1] then lineb1=low[barindex-b2]-(((barindex-t2)*sqrt(square(low[barindex-b1]-low[barindex-b2])))/(b1-b2)) else lineb1=low[barindex-b2]+(((barindex-b2)*sqrt(square(low[barindex-b1]-low[barindex-b2])))/(b1-b2)) endif if low[barindex-b3]>low[barindex-b2] then lineb2=low[barindex-b3]-(((barindex-b3)*sqrt(square(low[barindex-b2]-low[barindex-b3])))/(b2-b3)) else lineb2=low[barindex-b3]+(((barindex-b3)*sqrt(square(low[barindex-b2]-low[barindex-b3])))/(b2-b3)) endif if low[barindex-b3]>low[barindex-b1] then lineb21=low[barindex-b3]-(((barindex-b3)*sqrt(square(low[barindex-b1]-low[barindex-b3])))/(b1-b3)) else lineb21=low[barindex-b3]+(((barindex-b3)*sqrt(square(low[barindex-b1]-low[barindex-b3])))/(b1-b3)) endif if low[barindex-b4]>low[barindex-b1] then lineb3=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b1]-low[barindex-b4])))/(b1-b4)) else lineb3=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b1]-low[barindex-b4])))/(b1-b4)) endif if low[barindex-b4]>low[barindex-b2] then lineb31=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b2]-low[barindex-b4])))/(b2-b4)) else lineb31=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b2]-low[barindex-b4])))/(b2-b4)) endif if low[barindex-b4]>low[barindex-b3] then lineb32=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b3]-low[barindex-b4])))/(b3-b4)) else lineb32=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b3]-low[barindex-b4])))/(b3-b4)) endif // return values //resistance=(linet1+ linet2+ linet21+ linet3+ linet31+ linet32)/6 //support=(lineb1+ lineb2+ lineb21+ lineb3+ lineb31+ lineb32)/6 //midpoint=(resistance+support)/2 if linesdisplayed<12 then lineb32=linet1 endif if linesdisplayed<11 then linet32=linet1 endif if linesdisplayed<10 then lineb31=linet1 endif if linesdisplayed<9 then linet31=linet1 endif if linesdisplayed<8 then lineb3=linet1 endif if linesdisplayed<7 then linet3=linet1 endif if linesdisplayed<6 then lineb21=linet1 endif if linesdisplayed<5 then linet21=linet1 endif if linesdisplayed<4 then lineb2=linet1 endif if linesdisplayed<3 then linet2=linet1 endif if linesdisplayed<2 then lineb1=linet1 endif return linet1, linet2, linet21, linet3, linet31, linet32, lineb1, lineb2, lineb21, lineb3, lineb31, lineb32

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  //////////////////////////////////////////////////// // // Wing's Trend Lines - (Support and Resistance) // // Made by user "Wing" of ProRealCode.com // https://www.prorealcode.com/user/wing/ // ////////////////////////////////////////////////// // // Parameter: // p = 7 // 'lookback' / scale // LinesDisplayed=12 ////////////////////////////////////////////////// rs=RSI[p] once t1=0 once t2=0 once t3=0 once t4=0 once b1=0 once b2=0 once b3=0 once b4=0 once top=0 // Note that the numbers 1-2-3-4 may be corresponding to the default RSI parameter of 7. So that should perhaps be changed if you want different parameters   if rs[4]>70  and high[4]>high[3] and high[4]>high[2] and high[4]>high[1] and high[4]>high and top=0 then t4=t3 t3=t2 t2=t1 t1=barindex-4 top=6 endif if rs[4]<30  and low[4]<low[3] and low[4]<low[2] and low[4]<low[1] and low[4]<low and top=0 then b4=b3 b3=b2 b2=b1 b1=barindex-4 top=6 endif if top>0 then top=top-1 endif // tops if high[barindex-t2]>high[barindex-t1] then linet1=high[barindex-t2]-(((barindex-t2)*sqrt(square(high[barindex-t1]-high[barindex-t2])))/(t1-t2)) else linet1=high[barindex-t2]+(((barindex-t2)*sqrt(square(high[barindex-t1]-high[barindex-t2])))/(t1-t2)) endif if high[barindex-t3]>high[barindex-t2] then linet2=high[barindex-t3]-(((barindex-t3)*sqrt(square(high[barindex-t2]-high[barindex-t3])))/(t2-t3)) else linet2=high[barindex-t3]+(((barindex-t3)*sqrt(square(high[barindex-t2]-high[barindex-t3])))/(t2-t3)) endif if high[barindex-t3]>high[barindex-t1] then linet21=high[barindex-t3]-(((barindex-t3)*sqrt(square(high[barindex-t1]-high[barindex-t3])))/(t1-t3)) else linet21=high[barindex-t3]+(((barindex-t3)*sqrt(square(high[barindex-t1]-high[barindex-t3])))/(t1-t3)) endif if high[barindex-t4]>high[barindex-t1] then linet3=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t1]-high[barindex-t4])))/(t1-t4)) else linet3=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t1]-high[barindex-t4])))/(t1-t4)) endif if high[barindex-t4]>high[barindex-t2] then linet31=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t2]-high[barindex-t4])))/(t2-t4)) else linet31=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t2]-high[barindex-t4])))/(t2-t4)) endif if high[barindex-t4]>high[barindex-t3] then linet32=high[barindex-t4]-(((barindex-t4)*sqrt(square(high[barindex-t3]-high[barindex-t4])))/(t3-t4)) else linet32=high[barindex-t4]+(((barindex-t4)*sqrt(square(high[barindex-t3]-high[barindex-t4])))/(t3-t4)) endif // bots if low[barindex-b2]>low[barindex-b1] then lineb1=low[barindex-b2]-(((barindex-t2)*sqrt(square(low[barindex-b1]-low[barindex-b2])))/(b1-b2)) else lineb1=low[barindex-b2]+(((barindex-b2)*sqrt(square(low[barindex-b1]-low[barindex-b2])))/(b1-b2)) endif if low[barindex-b3]>low[barindex-b2] then lineb2=low[barindex-b3]-(((barindex-b3)*sqrt(square(low[barindex-b2]-low[barindex-b3])))/(b2-b3)) else lineb2=low[barindex-b3]+(((barindex-b3)*sqrt(square(low[barindex-b2]-low[barindex-b3])))/(b2-b3)) endif if low[barindex-b3]>low[barindex-b1] then lineb21=low[barindex-b3]-(((barindex-b3)*sqrt(square(low[barindex-b1]-low[barindex-b3])))/(b1-b3)) else lineb21=low[barindex-b3]+(((barindex-b3)*sqrt(square(low[barindex-b1]-low[barindex-b3])))/(b1-b3)) endif if low[barindex-b4]>low[barindex-b1] then lineb3=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b1]-low[barindex-b4])))/(b1-b4)) else lineb3=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b1]-low[barindex-b4])))/(b1-b4)) endif if low[barindex-b4]>low[barindex-b2] then lineb31=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b2]-low[barindex-b4])))/(b2-b4)) else lineb31=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b2]-low[barindex-b4])))/(b2-b4)) endif if low[barindex-b4]>low[barindex-b3] then lineb32=low[barindex-b4]-(((barindex-b4)*sqrt(square(low[barindex-b3]-low[barindex-b4])))/(b3-b4)) else lineb32=low[barindex-b4]+(((barindex-b4)*sqrt(square(low[barindex-b3]-low[barindex-b4])))/(b3-b4)) endif // return values //resistance=(linet1+ linet2+ linet21+ linet3+ linet31+ linet32)/6 //support=(lineb1+ lineb2+ lineb21+ lineb3+ lineb31+ lineb32)/6 //midpoint=(resistance+support)/2 if linesdisplayed<12 then lineb32=linet1 endif if linesdisplayed<11 then linet32=linet1 endif if linesdisplayed<10 then lineb31=linet1 endif if linesdisplayed<9 then linet31=linet1 endif if linesdisplayed<8 then lineb3=linet1 endif if linesdisplayed<7 then linet3=linet1 endif if linesdisplayed<6 then lineb21=linet1 endif if linesdisplayed<5 then linet21=linet1 endif if linesdisplayed<4 then lineb2=linet1 endif if linesdisplayed<3 then linet2=linet1 endif if linesdisplayed<2 then lineb1=linet1 endif return linet1, linet2, linet21, linet3, linet31, linet32, lineb1, lineb2, lineb21, lineb3, lineb31, lineb32

   

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  Pietro Fontana

  

  Wing

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  09/08/2017 at 11:59 AM #45808
  juanj

  @Wing the strategy I recently posted calculates trend lines based on the tangent trigonometry function. It works on the basis of using the bar count between two points as the opposite value and the point value as the adjacent value. I then calculate the angle using TAN(bar count/points). If needed you can also calculate the length of the diagonal line using Pythagorean theory (x2 + y2 = z2).

  

  juanj

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