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Hello Dimitris,
I know it's like that. My question is if the code can be modified to
draw no line if there are no valid pivot points to draw the line from?
//Martin
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> Nice code.
> You ask although
> x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> and, respectively
> x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> In this way, some first points may go back more than 2 years.
> In the specific case when the recent pivothigh is the highest in
the
> available stock history the trendline will not be defined. The same
> when the recent pivotlow is the lowest [many N100 stocks would be
> without support line back in Oct2002...].
> Besides that, if the recent pivothigh is the highest, the
resistance
> line has a strange beginning.Try for example to import is some
> database APOL from Feb2001 till now to see what I mean.
> Dimitris Tsokakis
> --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> wrote:
> > Yes, that's it! Now it automatically draws the most recent demand
> > line. I took the liberty to add a supply line by mirroring your
> code
> > and making the small changes necessary, but I never understood
what
> I
> > was doing :-) I noticed a weird thing when this indicator is
> applied
> > to a stock making a new all time high. If the most recent
pivothigh
> > is higher than any other pivothigh in the database then a line is
> > drawn from the bottom in the middle of the chart through the most
> > recent pivot high. It looks really strange. Can the code be
> modified
> > to draw no supplyline when there are no higher pivots to draw the
> > line from and draw no demand line when there are no lower pivots
to
> > draw the line from?
> >
> > The basis for the systems I have seen based on TD Lines is that
you
> > buy/cover when the supplyline is exceeded and sell/short when the
> > demand line is broken. Trendlines let you know in advance the day
> > before, the value of the trendline for the next trading day by
> > calculating the slope of the line and adding it to today's value
of
> > the line. Therefore, one can place the orders in the evening as
> stop
> > orders so if a line is broken during the day a position is taken.
> > Anyway, I wrote the values of the lines for the next day in the
> > title. I realise it's not perfect, because some lines are no
longer
> > valid lines (for example a supply line that has been exceeded
> etc.).
> > But more on that later.
> >
> > There are more improvements to be made, but I think it's getting
> > there :-)
> > //Martin
> >
> > Here is the modified code with both a supply and demand line:
> >
> > Plot(C,"",colorBlack,styleBar);
> > pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> >
> > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > y1=LastValue(ValueWhen(pivotlow,L,1));
> > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> > y3=LastValue(ValueWhen(pivothigh,H,1));
> > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
> >
> > supplyline=LineArray(x2,y2,x3,y3,1);
> > Plot(supplyline,"",colorRed,styleLine|styleThick|
> > styleNoRescale|styleNoLabel);
> > demandLine=LineArray(x0,y0,x1,y1,1);
> > Plot(demandLine,"",colorBlue,styleLine|
> > styleThick|styleNoRescale|styleNoLabel);
> >
> > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > *shapeSmallCircle,colorBlue,0,L);
> > PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> > *shapeDownArrow,colorRed,0,H);
> > PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> > *shapeSmallCircle,colorRed,0,H,12);
> > PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> > *shapeUpArrow,colorGreen,0,L);
> >
> > Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-
"+WriteVal
> > (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-
"+WriteVal
> > (Close) +EncodeColor(colorBlue)+WriteVal((y1-y0)/(x1-x0)+LastValue
> > (DEMAndline))+EncodeColor(colorRed)+WriteVal((y3-y2)/(x3-x2)
> +LastValue
> > (supplyline));
> > GraphXSpace=4;
> > --- In amibroker@xxxxxxxxxxxxxxx, "johsun" <johanskatt@xxxx>
wrote:
> > > OK, I think I get it. Is this what you're looking for?
> > >
> > > Johan
> > >
> > >
> > > Plot(C,"",colorGreen,styleBar);
> > > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > >
> > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > >
> > > Line=LineArray(x0,y0,x1,y1,1);
> > > Plot(Line,"",colorBlue,styleLine|
> > > styleThick|styleNoRescale|styleNoLabel);
> > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > *shapeSmallCircle,colorBlue,0,L);
> > > PlotShapes((Cross(Cum(C<Line AND Cum(1)-1>x1),0))
> > > *shapeDownArrow,colorRed,0,H);
> > >
> > >
> > > Title="TD Demand Line";
> > > GraphXSpace=4;
> > >
> > >
> > >
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx>
wrote:
> > > > Thank you very much, Johan. I replaced all the SelectedValue
> with
> > > > Lastvalue to only get the most recent trendline. I think your
> > > formula
> > > > does exactly what I described. However, after looking at some
> > > charts
> > > > I realised my description was a bit wrong. You see, there
> should
> > > > always be a demand line (upward sloping line) connecting the
> most
> > > > recent pivot with the second most recent pivot that is also
> lower
> > > > than the most recent. This code compares the two most recent
> > > > pivotpoints and if the second most recent is greater than the
> > most
> > > > recent, then no line is drawn. What it really should do is
> first
> > > > identify the most recent pivot, and then go back and look for
> the
> > > > next pivot that is lower and connect those two with a line,
> > > wherever
> > > > that next pivot is. The exception is when a stock makes a new
> all
> > > > time low, because then no lower pivot point can exist to draw
a
> > > line
> > > > from.
> > > >
> > > > Maybe this requires a lot more programming, but can it be
done?
> > > >
> > > > So far I think it's a great start!
> > > > //Martin
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