detection of a 2 point down trend touch line

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detection of a 2 point down trend touch line - detection of a 2 point down trend touch line

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wahkao		#1 Posted : Tuesday, June 19, 2007 8:32:06 PM(UTC)
Rank: Newbie Groups: Registered, Registered Users, Subscribers Joined: 5/7/2007(UTC) Posts: 9		detection of a 2 point down trend touch line Hi fellow technical traders. i am trying to code an algorithm for the detection of a 2 point down trend touch in the last 6 months or so and automatically drawing the trendline. A 2 point down trend touch line is where the stock is trending down and the trendline is drawn across 2 of it's most highest more protruding highs. perhaps a picture would be better to explain this. The link for this picture is http://img501.imageshack.us/img501/7889/2pointgm0.jpg


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Jose		#2 Posted : Wednesday, June 20, 2007 12:08:17 AM(UTC)
Rank: Advanced Member Groups: Registered, Registered Users Joined: 1/19/2005(UTC) Posts: 1,065 Location: Koh Pha-Ngan, Earth Was thanked: 2 time(s) in 2 post(s)		Wahkao, try adapting the 2-point plot indicator from MetaStockTools.com. "Coding example of 2-point, x/y line plot - useful for creating automatic chart trendlines." Also take a look at the TrendLine indicator code from the same place. jose '-)


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minnamor		#3 Posted : Wednesday, June 20, 2007 1:42:59 AM(UTC)
Rank: Advanced Member Groups: Registered, Registered Users Joined: 4/27/2005(UTC) Posts: 126 Location: Italy		You could buy PowerPivots Plus and use this indicator (EOD) for all types of most recent trend lines: PPivot:=Input("[1]minor,[2]intermediate,[3]major",1,3,2); FTrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",-Ppivot,0,1)); STrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",-Ppivot,1,1)); DeltaVerticalU := FTrough - STrough; DeltaHorizontalU := LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,1)) - LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,0)); DeltaPerBarU := DeltaVerticalU / DeltaHorizontalU; BarNoSecondTrough := LastValue(Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,1)); TrendD := If(Cum(1) < BarNoSecondTrough, BarsSince(Cum(1) >= BarNoSecondTrough), STrough + (DeltaPerBarU * (Cum(1) - BarNoSecondTrough))); Up:=If(FTrough >= STrough, TrendD, BarsSince(FTrough >= STrough)); FPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,0,1)); SPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,1,1)); DeltaVerticalD := FPeak - SPeak; DeltaHorizontalD := LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)) - LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,0)); DeltaPerBarD := DeltaVerticalD / DeltaHorizontalD; BarNoSecondPeak := LastValue(Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)); TrendU := If(Cum(1) < BarNoSecondPeak, BarsSince(Cum(1) >= BarNoSecondPeak), SPeak + (DeltaPerBarD * (Cum(1) - BarNoSecondPeak))); Dn:=If(FPeak <= SPeak, TrendU, BarsSince(FPeak <= SPeak)); Up;Dn; regards.


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wahkao		#4 Posted : Wednesday, June 20, 2007 1:50:37 AM(UTC)
Rank: Newbie Groups: Registered, Registered Users, Subscribers Joined: 5/7/2007(UTC) Posts: 9		Jose wrote: Wahkao, try adapting the 2-point plot indicator from MetaStockTools.com. "Coding example of 2-point, x/y line plot - useful for creating automatic chart trendlines." Also take a look at the TrendLine indicator code from the same place. jose '-) thanks, will check it out


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wahkao		#5 Posted : Wednesday, June 20, 2007 1:57:39 AM(UTC)
Rank: Newbie Groups: Registered, Registered Users, Subscribers Joined: 5/7/2007(UTC) Posts: 9		minnamor wrote: You could buy PowerPivots Plus and use this indicator (EOD) for all types of most recent trend lines: PPivot:=Input("[1]minor,[2]intermediate,[3]major",1,3,2); FTrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",-Ppivot,0,1)); STrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",-Ppivot,1,1)); DeltaVerticalU := FTrough - STrough; DeltaHorizontalU := LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,1)) - LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,0)); DeltaPerBarU := DeltaVerticalU / DeltaHorizontalU; BarNoSecondTrough := LastValue(Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",-Ppivot,1)); TrendD := If(Cum(1) < BarNoSecondTrough, BarsSince(Cum(1) >= BarNoSecondTrough), STrough + (DeltaPerBarU * (Cum(1) - BarNoSecondTrough))); Up:=If(FTrough >= STrough, TrendD, BarsSince(FTrough >= STrough)); FPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,0,1)); SPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,1,1)); DeltaVerticalD := FPeak - SPeak; DeltaHorizontalD := LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)) - LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,0)); DeltaPerBarD := DeltaVerticalD / DeltaHorizontalD; BarNoSecondPeak := LastValue(Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)); TrendU := If(Cum(1) < BarNoSecondPeak, BarsSince(Cum(1) >= BarNoSecondPeak), SPeak + (DeltaPerBarD * (Cum(1) - BarNoSecondPeak))); Dn:=If(FPeak <= SPeak, TrendU, BarsSince(FPeak <= SPeak)); Up;Dn; regards. oh that's nice but unforturnately it cuts through other prices. i plotted this with minor trendline setting how about using the zigzag? i believe that work but i got a problem coding it


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minnamor		#6 Posted : Thursday, June 21, 2007 8:45:33 AM(UTC)
Rank: Advanced Member Groups: Registered, Registered Users Joined: 4/27/2005(UTC) Posts: 126 Location: Italy		I wouldn't worry about that. The PP based trendlines are based on Pivots and that is what matters. You can have highs or lows cutting through them but if they are not pivots then they are not significant in that timeframe. I would suggest drawing ATR bands around trendlines that would indicte range of importance of breach. For instance use ATR(5) ver-below trendline for primary, ATR(20) for intermediate and ATR(40) for major (levels as used in ominitrader for similar calculations). That should give a more meaningful interpretation. The same applies to simple support and resistance levels. regards.


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