MelloTrendlines Auto Trend Lines and Channels
- Индикаторы
-
Ritthanong Chimpa
Algorithmic trading focused on survival, not speed.
AURORA PRIME is not designed for fast profit.
It is designed for survival, stability, and long-term capital preservation.
This system was built under the philosophy that:
“Staying alive in the market is already a win.” - Версия: 1.0
- Активации: 10
MelloTrendlines draws trend lines and channels for you, through swing highs and lows that are already confirmed. It marks when a bar closes through a line and when price later comes back to test it. Every mark is decided on a closed bar, so marks never move or disappear afterwards. It needs no DLL and no external service.
Lines
- Support lines through rising swing lows, resistance lines through falling swing highs (other slopes can be allowed)
- A line is drawn only if no wick crossed it between its two anchors and no bar has closed through it since
- The line with the most swing touches is chosen, then the longer one
- Up to 3 active lines on each side, with the touch count in the tooltip
- A parallel channel line for the newest line on each side
Marks
- Triangle: a bar closed through a line by more than a set share of ATR
- Dot: within a set number of bars after the break, price came back to the line and closed on the new side
- Broken lines stay on the chart, dashed, so you can see what happened
Panel
Nearest support and resistance line with the distance in ATR, the last mark, and how many breaks and retests happened on your chart. These counts describe the past of your chart and do not predict anything.
Alerts (off by default)
Break and retest, as popup, push or email, on the closed bar.
For EA developers
Buffers: 0 break up, 1 break down, 2 retest up, 3 retest down (price of the bar where the mark is, otherwise EMPTY_VALUE), 4 nearest support line, 5 nearest resistance line. Values on closed bars never change.
Repainting
A swing is confirmed only after the set number of bars on its right, so a line appears a few bars after its second anchor. Once a mark is on a closed bar it stays. In our tests the values recorded when each bar closed were the same at the end, and a full recalculation gave exactly the same values.
Important
This is an analysis tool and not a trading signal. Our own test of automatic break and retest entries on gold H1 with real ticks did not pass after costs, so do not use the marks alone as entries. Trading leveraged products involves a high risk of loss.
Support is provided through the comments on this page and MQL5 messages.
