Trend Lines (TL)

Video Demonstration

Description

The Trend Line Indicator assists in automatically drawing trend lines on a chart. It considers parameters such as proximity and the number of times the trend line touches price points. By doing so, it simplifies the process of identifying and visualizing trend directions.

How It Works

This indicator is very useful when testing strategies based on trend lines and removes bias.

Chart Settings

"Trend Lines"
1. "Show Trend Lines"
  Show Trend Lines
2. "Trend Lines Color"
  Change color of trend lines
3. "Trend Lines Thickness"
  Change thickness of trend lines
"Coordinates"
1. "Show Coordinates"
  Show or hide coordinates
2. "Coordinates Color"
  Change color of coordinate border color
3. "Coordinates Fill Color"
  Change fill color of coordinates
4. "Coordinates Line Thickness"
  Change thickness of coordinates line
5. "Coordinates Size"
  Change size or coordinates

"Historic Trend Lines"
1. "Show Historic Trend Lines & Coordinates"
  Show or hide historic trend lines
"Historic Trend Lines"
1. "Coordinates in Proximity to Trend Lines (Percent)"
  Configure proximity of coordinates to the line
2. "Coordinates in Proximity To Trend Lines"
  Configure number of coordinates that need to be in proximity in order to build a line
"Impulse & Correction Lines"
1. "Show Impulse & Correction Lines"
  Show or hide impulse and correction lines
2. "Impulse & Correction Lines Color"
  Change color of impulse and correction lines
3. "Impulse & Correction Lines Thickness"
  Change thickness of impulse and correction lines

* For common indicator properties please see Common Indicator Settings

Chart View

Last modified: 24 September 2024