AI Auto Trendline Channel Indicator
- Indicatori
- Versione: 1.0
Trendlines and a regression channel drawn automatically, with break arrows you can rely on.
How it works
The indicator finds swing highs and swing lows using a fractal depth: a swing is confirmed only after the set number of candles has closed on each side. It connects the two latest swing highs into a resistance trendline and the two latest swing lows into a support trendline. Both lines extend to the right.
When a closed candle crosses a line (close above resistance or below support, after closing on the other side the bar before), a break arrow is placed and the line turns dotted. Each line is redrawn only when a new swing is confirmed.
An optional linear regression channel covers the last N closed bars, with upper and lower lines set at a number of standard deviations from the middle line.
Key features
- Automatic support and resistance trendlines from confirmed swings
- Lines are redrawn only when the swing points change
- Non-repainting break arrows on closed bars
- Optional minimum break distance in points
- Linear regression channel with adjustable length and width
- Optional markers on the swing points used
- Buffers for EA use: 0 resistance break, 1 support break, 2 resistance value, 3 support value
- Popup, push and sound alerts on new breaks
Recommended
Any symbol and timeframe. Depth 5 suits most charts. Use a higher depth for fewer, more important lines.
Inputs
Swing depth, show resistance and support, colors, width, swing markers, break arrows and minimum break distance, channel on/off, length, deviation, color, channel ray, max bars to calculate and alert options.
Note
Swings are confirmed with a delay equal to the depth, and break arrows appear only on closed bars. Once printed, they do not repaint.
