wwt AI Trendline

2 days agoThe "AI Trendline" script is an advanced trading indicator designed to identify potential entry and exit points based on trendlines calculated from pivot highs and lows. The script uses an adaptive method to draw trendlines based on the selected period and wicks of candles, with customizable settings for line extensions and colors.

Key Features:
Automatic Trendline Detection:
The script calculates trendlines dynamically using pivot highs and lows, creating visual guidance for potential trend reversals and continuations.
Trendline Visuals and Fill Options:
It displays three trendlines per detected high or low point with linefill settings for visual clarity.
Target Price and Stop Loss Calculations:
When a trend is detected, the script sets a target price (TP) and stop loss (SL) level based on ATR values for effective risk management.
Trade Signal Generation:
The script identifies Long and Short opportunities based on trendline slope and price crossover conditions, setting up trades with visual target and stop-loss lines.
Dynamic Updates:
Trendlines are dynamically updated based on new pivots, and alerts are set if price reaches target or stop levels.
This indicator is particularly useful for traders looking for automatic trendline drawing combined with signal generation for potential trade setups, all within a single script.