Study Documentation:
Trendline Tracking Indicator v1.1
Study Description
This is a manual trendline tool. Based on the user set trendline (ray) an indicator is created with values tracking the trendline, plus a band around this line with adjustable parameters. If you want to draw the trendline to a new place then simply select the current one and delete it (press Del). A new line will be put on the last 40 bars what you can adjust then. Learn more.
Copyright © 2018 All rights reserved.
Input Descriptions
| Input Name | Input Description |
|---|---|
| Band type | How band width is determined.
|
| Band width or minimum ATR width | If band is tick-based then it will be this amount of tick wide. If band is percent-based this is the percent of the last price which determines the width. If band is ATR-based this is the minimal band width in ticks if ATR becomes smaller. |
| ATR period | This number of past bars will be used to calculate the ATR (simple moving average based) |
| ATR multiplier | ATR value is multiplied by this number to determine the full band width |
| Alert type | Alert when and until the last price is in the band OR the full bar is in or just touches the band |
| Use Alerts tab condition | When enabled an alert will only sound if the condition on the Alerts tab evaluates to true. With this you can check additional conditions when the market reaches the trendline band. |
| Alert sound (once per bar) | Play this alert once when last price or the bar is in or touches the band |
| CONTINOUS ALERT sound | If you want to sound an alert CONTINOUSLY when the last price or the bar is inside or touches the band then set this to an alert sound. WARNING: depending on the above settings this may play the alert sound until a bar forms completely outside of the band. To mute temporarily check out the Mute All Alert Sounds menu item here. Do not forget to re-enable sounds for the next alert! |
| Play sound minimum delay | Play continous alert sounds with a delay of at least this number of seconds. |
Example Image
