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Automated Trendline


Automated Trendline
Automated Trendline

//www.aflcode.com

x = Cum(1);

perchg = 0.3*LastValue( Highest( ROC( Low, 50 ) ));

startvalue = LastValue( Trough( Low, perchg, 1 ) );
endvalue1 = LastValue( Trough( Low, perchg, 2 ) );

startbar = LastValue( ValueWhen( Low == startvalue, x, 1 ) );
endbar = LastValue( ValueWhen( Low == endvalue1, x, 1 ) );

Aa = (endvalue1-startvalue)/(endbar-startbar);
b = startvalue;

trendline = Aa * ( x  - startbar ) + b; 

Plot( Close, "Price", colorBlue, styleCandle );
Plot( IIf( x >= endbar, trendline, Null ), "Trendline", colorRed );

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