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Are you looking to do explorations or do you want to do system tests.
Equis sells a floppy that among other things has some indicators that
can plot the most recent trendline and also explore for trendline
breaks. The trendline is based on the Peak and Trough functions. I
have some indicators that plot trendlines on all loaded data; actually
they only plot the part of the trendline that extends beyond each
"Peak1". They use either Peak/Trough or Zig Zag. Using Peak/Trough/ZZ
doesn't always plot accurate trendlines but for the most part it works
ok I guess. I have a test that will mark breakouts and the test has a
"lock in" provision that I *believe* will prevent an entry until the
specific peak or trough (that the trendline is based on) is
established. But I make no guarantees that the test or code is valid.
The "problem" with using the indicator by itself (not in conjunction
with the test) is that you need to be aware of when a peak or trough is
locked in (or not locked in) so as not to be fooled by a trendline break
that occurs before the peak or trough is established. I haven't looked
at it in a while so I am just going by what I seem to recall about it.
If you want it let me know, but use at your own risk. Equis' use of
trendlines on that floppy don't present a problem with regards to when a
peak/trough is established.
Ken
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