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We could ask x0!=0 and x3!=0, but it is possible for the very first
bar of your data to be the Lowest [Highest].
So,
The 2nd trendline point should not be the Lowest L[respectively the
Highest H] up to this bar.
The pivot bar occurred L1-x1 bars ago [respectively L1-x3]
L1=LastValue(BarIndex());
CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
The above conditions should be false in order to have a "regular"
line.
One idea is to paint the lines with the ground color.
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));
L1=LastValue(BarIndex());
CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
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));
CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
supplyline=LineArray(x2,y2,x3,y3,1);
Plot(supplyline,"",IIf(CondH!=1,colorRed,0),styleLine|styleThick|
styleNoRescale|styleNoLabel);
demandLine=LineArray(x0,y0,x1,y1,1);
Plot(demandLine,"",IIf(CondL!=1,colorBlue,0),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;
You may arrange also not to plot the shape when CondL, CondH are true
[they are at the very first bar]
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> wrote:
> 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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