Price channel: Trendline projections
On forex there´s nothing new under the sun and what you´re rying to do was made a long time ago in fact is a standard indicator in MT4 and is called Andrew Pitchfork´s lines. By the way way very useful. The concept you must learn is: PRICE ALWAYS GO TO THE MEDIAN LINE
I'm familiar with Andrew's pitchfork but thought that perhaps by using a fixed (but variable!) angle that it may offer some opportunity for the basis of a trading system. Andrew's pitchfork can't be set by angle therefore would not be complete as it is. Perhaps there is a way to call the function of Andrew's pitchfork and use this as the basis for the trendlines by setting it at the same same each time? Is there an Auto Andrew's Pitchfork mql?
You think that it's too close? If it is then a break would possibly signal a trade?
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Take the x number of significant highs and project a trendline upwards and downwards at an angle the user inputs (as angles constantly change). Also the x number of significant lows and project a trendline upwards and downwards at the same angle. Trades entered into on breaks of trendlines using the opposite trendline for a stop loss.
Can anyone write this sort of indicator/EA? Is this a good idea?