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I need an indicator that will plot trend lines with the
Trend line to down or downtrend, plotted on lower highs:
1. Scan through X (adjustable parameter input) previous bars
and plot a trend line through 3 or more touches.
2. The touch points should be a range of pips from the peak
of the high adjustable parameter input, to allow for a more or less precise
trend line drawing.
3. Trend lines step: adjustable parameter input for how many
trend lines to plot from the past.
4. Adjustable parameter input for trend stop at the last
touch or plot it as a ray.
5. Sound an alarm when the trend line is plotted, when the bar
for the last touch (minimum 3 touch) is closing down.
6. Trend lines colors, weight and type of the lines to be
7. The alarm can be a custom loaded sound file or if that is
not possible just the MT4 notification with a comment like: “Bounce from downtrend” or something like that.
8. Alert (Yes/No adjustable parameter input) only if the bar
for the last touch closes below (for downtrend) and above (for uptrend) the Y
period EMA (Y adjustable parameter input).
9. The indicator needs to be light on the processor to be able to use it on slow vps.
Trend line to up (uptrend) to be plotted on higher lows and
the same parameters like the downtrend line.
I uploaded a print screen for information, the numbers and circles not needed.
I want to use it on renko bars created by ovo.cz, on MT4.
Sergey, I'm still chewing on the logic of my trend line. Give me until monday-tuesday and I will have the final requirements and we can discuss what and how is possible.