Indicatorwarehouse – Auto Trend Line and Channel Tool
From Trend to Channel, all in one Panel.
This indicator exponentially increases the value of trend lines by creating a parallel channel area of dynamic support and resistance. Creates any number of trend line channels (rising and falling)…and signals an arrow alert when price crosses below a rising channel, or above the falling channel. Added channel bounce signal in conservative or aggressive mode.
- Provides traders with a shorter learning curve for mastering channel trading
- Automatically draws trend lines and channels for short term or long term trends
- Provides signals for both channel bounce trades and Trend line break trades
- Added audio signals and New Trend channel audio and visual feature
- The MaxLines parameter lets you keep that many drawn lines on the chart for easy visual reference
- Optional email alert when price breaks the trend line
- TrendlineType parameter lets you determine if you want to view only Upward, Downward, or Either
- “ShowChannels” parameter lets you reduce the channel to a single support/resistance trend line
- Full color and style customization parameters for the trend lines
- Historical lookback – position of each trendline is recorded on the chart using plotted dots
- Accessible to Strategies/Indicators – Plotted values of the trendlines are available to any other NinjaScript Strategy or Indicator…essential for strategy or additional indicator development.