Reliable Trendlines

[Linuxser]

[Sergey Golubev]

Yes you are right: this WSOWROTrend.mq4 is drawing too many trend lines.

We may use TrendLines.mq4 indicator created by raff.

But i like MaksiGen_Range_Move.mq4 more as we may have just few trendlines together with high/low and stop orders for breakout. Just one indicator. And the next version is with ararm (by Igorad) attached as well.

[Sergey Golubev]

The other indicator from raff about trendlines with alert. But sorry I have no idea how to use it.

[Linuxser]

raff developed trendlines after some talk with me.

However we have the same problem like with WSOWROTrend. Too many lines.

Why is correct and why is not? why this trendline starts here and ends here if there is another peak in the middle which is the correct one?.

These asks are not easy to answer.

First, what a is a trendline? Second, what is the correct way to draw them?.

There are many books talking about that. A trendline connects a least two absolute lowers lows or higher highs. But. what is an absolute lower low/higher high?. Everything seems to depend of the point of view.

It was Tom Demark the first to create an standard method to draw trendlines by connecting two TD Points and draw a line from left to right to be sure you´re using the last price action. Demark also divided his TD points taking how many bars needs to create one.

We have single TD points with only three bars and complex with eight bars. And with 4, 5 , 6 bars etc.

The most near figure to a TD point is the V, also fractals formations are pretty near because in some manner a 5 bar TD point is a fractal.

Some popular method in another forum is using TD points to draw trendlines and the author is taking all rights about the creation of them.

Come on, the Demark book in which TD point an lines are explained is from 1994

If you take a look at the images attached in the first post you can watch different trendlines in longer, also with different thin lines. That´s why the author of Raghee Horner Software for the e-Signal platform is classifying the trendlines according to minors, majors and intermediates.

An indicator that can do all described needs a lot of work. But after a little search and test, I´d find the Demark indicator posted hereis pretty near with the explanation if you just tweak a little.

However is far away from the ideal one because every line is draw according to only one input that tells how many bars you would use to create a TD Point.

See the pictures attached.

[Sergey Golubev]

Just found those two threads. May be usefull.

https://www.mql5.com/en/forum/173123

https://www.mql5.com/en/forum/175886

[95032792]

trendline breakout

I would like to take the email alert this "alerter" gives from the description

line when it is enabled and allow it to place a buy / sell at that point in an ea.

Can anyone tell me how to use the icustom feature from an "alert" or proximaty to a line.

Hopefully, this will not get moved. I think a lot of folks could use auto trading off a trendline.

[Beno]

I think this does what you want it to do.

[95032792]

thanks

Thanks Beno for working on. I appreciate it. Wow. I couldnt do this in a year.

I am Just reading through the ea' ...

Basically, as I read it. I would draw a trendline and put in "BUY"

on the description line and put the parameters in the desription field.

can you explain a little more on how that is done to take the order completely. That is, how does this trigger and pull the right info.

Ie how do you set the parameters in the ea or on the line. Metatrader doesnt show much on how to manage line properties.

// get the params for the object starting with Action.

// if action isn't defined then simply move on

string sAction = getParam(sName,PARAM_ACTION);

if (sAction != "Buy" && sAction != "Sell") continue;

int iTrigger = StrToInteger(getParam(sName,PARAM_TRIGGER));

int iTakeProfit = StrToInteger(getParam(sName,PARAM_TAKEPROFIT));

int iStopLoss = StrToInteger(getParam(sName,PARAM_STOPLOSS));

int iTrailStop = StrToInteger(getParam(sName,PARAM_TRAILSTOP));

int iBreakEven = StrToInteger(getParam(sName,PARAM_BREAKEVEN));

double dLots = StrToDouble(getParam(sName,PARAM_LOTS));

The objective is to draw a trendline. Put in a buy or a sell ahead of time on the line and go to work or whatever and let the order ride through. The more I look @, the more "great" this looks. I think all would benefit from trendline break trading. Indicators unless very flexible get stomped in chop or killed in trends as the market starts small and sometimes its too late.

[Linuxser]

Reliable Trendlines

See attached.

Original indicator from John Hitt and my mods.

[Sergey Golubev]

Just want to remind about this post with all the links to trendlines and s/r lines.

And el cid posted now some support/resistance indicator on this post and it is the image about how it looks like. ]

I did not check this indicator live but seems interesting. It is similar with Level Trading system:

- level trading as support/resistance is here;

- level trading traditional rules and indicators is here.

- level trading in elite section is here.

But, anyway, it is not easdy to trade using support/resistance lines. The technique (how to trade) was described in channel trading system, and especially in this thread https://www.mql5.com/en/forum/175824

[Sergey Golubev]

Some indicator for support/resistance/trendlines based on zigzag https://www.mql5.com/en/forum/178570