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Thank you for your reply, Dimitris.
Have you seen message 58922 by Johan? This is getting complicated for
my uneducated brain, but it seems that his code also does the job? or
is there a difference I'm missing?
//Martin
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> 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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