informanerd

LH-LL/HL-HH Confirmation Trend Line

Based on Dow Theory, a series of successive higher highs (HH) and higher lows (HL) is the sign of an uptrend (bull trend) and a series of successive lower highs (LH) and lower lows (LL) is the sign of a downtrend (bear trend).
So this script indicates the trends using the concept and draws corresponding trend lines .
It took some effort to make it possible for users to see as many trend lines as they wish. Eventually the user could set the number alongside some other options in the indicator settings.
Use the script and send me your thoughts!
Versionshinweise: Fixed some line calculation bugs!
Versionshinweise: - A tweak to the line calculations!
Versionshinweise: Fixed another line calculation bug!
Versionshinweise: - Added Multi-TimeFrame Capability
Now users could check trend lines from other time frames on the current chart. Trend lines from other time frames may not be as precise as expected on the current time frame, but they are useful for sure.
Versionshinweise: - Cleaned the code!
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

I think it would be better if make it like a channel, so have a top linear band
Antworten
informanerd teppi_edmund
@teppi_edmund, I think it's bottom band for downtrends. Nice!
I'm planning to publish another script with more advanced features soon.
Antworten
Wow bro beautiful. So useful. Thanks lot
Antworten
informanerd pricechart1336
@pricechart1336, my pleasure.
Antworten
Thank you, i like it
Antworten
informanerd LeLyonnais
@LeLyonnais, You're welcome.
Antworten
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