TrendLines MTF [Cometreon]

4 days ago

Trendline is an advanced indicator designed to automatically plot all trendlines on the chart and signal when they are broken, adapting to any symbol and timeframe, including larger ones. This innovative tool uses advanced algorithms to continuously analyze market data, automatically identifying and drawing trendlines on the chart. Trendline offers traders an immediate and clear visualization of market dynamics, saving time in manual analysis and optimizing trading decisions.

Key Features:

• Automatic Plotting: The indicator automatically draws and updates trendlines, providing a real-time overview of market trends.
  
• Breakout and Bounce Signaling: Provides immediate notifications when a trendline is broken or the price bounces off it, allowing traders to react promptly to market changes.
  
• Customization: Offers the ability to modify length, touches, colors, and line style to suit individual preferences.
  
• Information Table: Includes a detailed table showing the values of all active trendlines, facilitating the monitoring of key market points.
  
• Configurable Alerts: Allows setting custom alerts for breakouts, bounces, or creation of new trendlines.
  

Technical Details and Customizable Inputs:
Trendline offers a range of customizable inputs that allow adapting the indicator to specific needs:

1. Trendline Type: Select between active trendlines, broken ones, both, or none.
   
2. Left and Right Length: Defines the extension of maximum and minimum points to identify Trendlines.
   
3. Timeframe: You can also modify the timeframe of Trendlines to display a higher timeframe.
   
4. Confirm at Timeframe: Allows you to confirm the Trendlines using the chart's timeframe instead of the selected one. This checks whether a candle has already broken the line previously.
   
5. Delete at Timeframe: input to remove trendlines based on breakouts with chart candles, instead of using candles of a higher timeframe.
   
6. Touch Need: Sets the number of touches needed to confirm a Trendline.
   
7. Max Trend Line for Level: Limits the maximum number of Trendlines in a single level.
   
8. Extended Line After Break: Option to extend broken Trendlines by a specific value.
   
9. Session Range: The "Session Range" offers two options: select a specific date or a period relative to the last candle. The input allows choosing between "Choose" and "Pick Up".
   With "Choose", you select a relative period, with two modes:
   - Last: shows the trendlines of the selected period, compatible with Replay.
   - Real Time: displays all TrendLines, searching from the last selected period.
   Example: "1 Month" with "Last" shows the TrendLines from the previous month, while "Real Time" searches without time limits but uses the values from the last month. This allows defining the search depth of the indicator, crucial for computing power. In case of issues, use "Auto".
   
   
10. Trendlines Style: Modify the style for each type of Trendlines (Valid, Break) including color, style, and line thickness.
    
11. Trends Trendlines: Enable/disable two different trends:
    - Trend Bar Color: based on TrendLines breakouts. Breaking a bearish TrendLine results in a bullish trend, vice versa for breaking a bullish TrendLine.
    - Trend Background: based on the number of active TrendLines. For example, if the number of bullish TrendLines is greater than the "Strength", the trend will be bullish.
    
    
12. Signal Style: You can enable or disable breakout and bounce signals, with customizable colors for each signal type.
    
13. Alert: Set notifications for breakouts, bounces, or formation of new Trendlines.
    
14. Table: Customize the table showing the values of all active trendlines, facilitating the monitoring of key market points. You can modify the appearance of the table, changing the color of cells and text.
    

These options allow you to optimize the indicator for different trading styles and market conditions, ensuring precise and personalized technical analysis.

How to Use Trendlines:

• Market Analysis: Use the displayed Trendlines as critical indicators of market dynamics to make informed trading decisions.
  
• Signal Interpretation: Leverage Trendline breakouts and bounces to identify potential trend changes and trading opportunities.
  
• Strategy Integration: Use Trendlines and generated signals as a basis for creating personalized and innovative trading strategies.
  

With Trendlines, you can simplify your market analysis, saving time and improving the accuracy of your decisions with clearly visualized and customizable Trendlines.

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