AbzParticipant
Veteran
Hello
anyone who can help to identy what to use in this code to identify the trend reversel? basically go long when blue dot apperas and short when red dot appears
//PRC_PerfectTrendLine ptl | indicator
//16.10.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 version (original author mladen)
//enhanced version by Nicolas
// --- settings
//SlowLength = 7 // Slow length
//SlowPipDisplace = 0 // Slow pip displace
//FastLength = 3 // Fast length
//FastPipDisplace = 0 // Fast pip displace
// --- end of settings
thigh1 = Highest[SlowLength](high)+ SlowPipDisplace*pointsize
tlow1 = Lowest[SlowLength](low)- SlowPipDisplace*pointsize
thigh2 = Highest[FastLength](high)+ FastPipDisplace*pointsize
tlow2 = Lowest[FastLength](low)- FastPipDisplace*pointsize
if barindex>2 then
if Close>line1[1] then
line1 = tlow1
else
line1 = thigh1
endif
if Close>line2[1] then
line2 = tlow2
else
line2 = thigh2
endif
endif
if (Close[0]<line1[0] and Close[0]<line2[0]) then
trend = 1
endif
if (Close[0]>line1[0] and Close[0]>line2[0]) then
trend = -1
endif
if (line1[0]>line2[0] or trend[0] = 1) then
trena = 1
endif
if (line1[0]<line2[0] or trend[0] = -1) then
trena = -1
endif
if trena<>trena[1] then
if trena=1 then
x = max(line1,line2)
r=200
g=20
b=60
else
x = min(line1,line2)
r=30
g=144
b=255
endif
drawtext("●",barindex,x,Dialog,Bold,10) coloured(r,g,b)
endif
drawbarchart(line1,line2,line1,line2) coloured(r,g,b,50)
return line1 coloured(r,g,b,100) style(line,1),line2 coloured(r,g,b,100) style(line,1)
Basically, you can use the “r” variable value to know if the lines are currently red or not, just by adding “r” to the RETURN instruction and use this variable value in your own automatic trading strategy.
If r=200, then this is red (bearish) and if not it is blue (bullish).
To spot the signals, just compare if the previous “r” was in blue value and if the current one is in red value. Let me know if it is not clear for you 😉