OPEN-SOURCE SCRIPT
HLM Trend Line (High-Low-Midpoint / Ichimoku Line)
Updated
Ichimoku style trend line .
Some strategies call for a custom Ichimoku style line (midpoint of range's high/low).
This allows you to use or replace a single line without having to customize a full Ichimoku setup.
Some strategies call for a custom Ichimoku style line (midpoint of range's high/low).
This allows you to use or replace a single line without having to customize a full Ichimoku setup.
Release Notes
* Added time shifting and secondary period averaging so that all 4 Ichimoku HLM lines can be created.* `Current = 0` option to clarify user intention. Turn off to support Ichimoku ordinal indexing (1==1st), instead of the natural natural language / array indexing (0=1st) that users would expect to enter.
* `Into Past` option. Natural offset direction is toward future. Pinescript direction is the opposite. Use this to project into past by default (i.e. `- => Future`).
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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