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Lines With Breaks

This indicator plots trendlines with breaks for a given asset. It calculates upward and downward sloping trendlines based on pivot highs and lows over a customizable lookback period. It shows the trendlines and signals breakouts, defined as the price crossing the trendline. It also includes options to customize the slope calculation method, trendline colors, and display of extended trendlines.

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Зайниддин Турсуналиев
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© © All Rights Reserved
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212 views2 pages

Lines With Breaks

This indicator plots trendlines with breaks for a given asset. It calculates upward and downward sloping trendlines based on pivot highs and lows over a customizable lookback period. It shows the trendlines and signals breakouts, defined as the price crossing the trendline. It also includes options to customize the slope calculation method, trendline colors, and display of extended trendlines.

Uploaded by

Зайниддин Турсуналиев
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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// This work is licensed under a Attribution-NonCommercial-ShareAlike 4.

0
International (CC BY-NC-SA 4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/
// © LuxAlgo

//@version=5
indicator("Trendlines with Breaks [LuxAlgo]", "LuxAlgo - Trendlines with Breaks",
overlay = true)
//------------------------------------------------------------------------------
//Settings
//-----------------------------------------------------------------------------{
length = input.int(14, 'Swing Detection Lookback')
mult = input.float(1., 'Slope', minval = 0, step = .1)
calcMethod = input.string('Atr', 'Slope Calculation Method', options =
['Atr','Stdev','Linreg'])
backpaint = input(true, tooltip = 'Backpainting offset displayed elements in the
past. Disable backpainting to see real time information returned by the
indicator.')

//Style
upCss = input.color(color.teal, 'Up Trendline Color', group = 'Style')
dnCss = input.color(color.red, 'Down Trendline Color', group = 'Style')
showExt = input(true, 'Show Extended Lines')

//-----------------------------------------------------------------------------}
//Calculations
//-----------------------------------------------------------------------------{
var upper = 0.
var lower = 0.
var slope_ph = 0.
var slope_pl = 0.

var offset = backpaint ? length : 0

n = bar_index
src = close

ph = ta.pivothigh(length, length)
pl = ta.pivotlow(length, length)

//Slope Calculation Method


slope = switch calcMethod
'Atr' => ta.atr(length) / length * mult
'Stdev' => ta.stdev(src,length) / length * mult
'Linreg' => math.abs(ta.sma(src * n, length) - ta.sma(src, length) * ta.sma(n,
length)) / ta.variance(n, length) / 2 * mult

//Get slopes and calculate trendlines


slope_ph := ph ? slope : slope_ph
slope_pl := pl ? slope : slope_pl

upper := ph ? ph : upper - slope_ph


lower := pl ? pl : lower + slope_pl

var upos = 0
var dnos = 0
upos := ph ? 0 : close > upper - slope_ph * length ? 1 : upos
dnos := pl ? 0 : close < lower + slope_pl * length ? 1 : dnos

//-----------------------------------------------------------------------------}
//Extended Lines
//-----------------------------------------------------------------------------{
var uptl = line.new(na,na,na,na, color = upCss, style = line.style_dashed, extend
= extend.right)
var dntl = line.new(na,na,na,na, color = dnCss, style = line.style_dashed, extend
= extend.right)

if ph and showExt
uptl.set_xy1(n-offset, backpaint ? ph : upper - slope_ph * length)
uptl.set_xy2(n-offset+1, backpaint ? ph - slope : upper - slope_ph *
(length+1))

if pl and showExt
dntl.set_xy1(n-offset, backpaint ? pl : lower + slope_pl * length)
dntl.set_xy2(n-offset+1, backpaint ? pl + slope : lower + slope_pl *
(length+1))

//-----------------------------------------------------------------------------}
//Plots
//-----------------------------------------------------------------------------{
plot(backpaint ? upper : upper - slope_ph * length, 'Upper', color = ph ? na :
upCss, offset = -offset)
plot(backpaint ? lower : lower + slope_pl * length, 'Lower', color = pl ? na :
dnCss, offset = -offset)

//Breakouts
plotshape(upos > upos[1] ? low : na, "Upper Break"
, shape.labelup
, location.absolute
, upCss
, text = "B"
, textcolor = color.white
, size = size.tiny)

plotshape(dnos > dnos[1] ? high : na, "Lower Break"


, shape.labeldown
, location.absolute
, dnCss
, text = "B"
, textcolor = color.white
, size = size.tiny)

//-----------------------------------------------------------------------------}
//Alerts
//-----------------------------------------------------------------------------{
alertcondition(upos > upos[1], 'Upward Breakout', 'Price broke the down-trendline
upward')
alertcondition(dnos > dnos[1], 'Downward Breakout', 'Price broke the up-trendline
downward')

//-----------------------------------------------------------------------------}

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