[NMM] TrendLines - v1
An easy to use chart to display trend lines for the current trends in effect.
There are simply two parameters:
- Base Period: Defines how long back you are looking for trends. For a given base period of X, price from upto 5X bars back is taken into consideration for drawing trend lines. I would suggest keeping this to a low value. Default is 12.
- Smoothing Period: To further smoothen the trend lines, use this parameter.
Usually, a trend reversal can be easily seen from this indicator. At reversals, there is a clearly visible reversal of this indicator. If you look carefully, you can even count Eliott Waves easily on this indicator, which are sharply defined.
NOTE: I am available for custom work on hire. Contact me via PM, if required.
There are simply two parameters:
- Base Period: Defines how long back you are looking for trends. For a given base period of X, price from upto 5X bars back is taken into consideration for drawing trend lines. I would suggest keeping this to a low value. Default is 12.
- Smoothing Period: To further smoothen the trend lines, use this parameter.
Usually, a trend reversal can be easily seen from this indicator. At reversals, there is a clearly visible reversal of this indicator. If you look carefully, you can even count Eliott Waves easily on this indicator, which are sharply defined.
NOTE: I am available for custom work on hire. Contact me via PM, if required.