Automatic Trend Line

[richardtao]

The ATL indicator version 1 is applying of Trading Station II. The target user is junior trader.

ATL stands for Automatic Trend Line.
The purpose is to indentify Up/Down Trend Line Automatic. That could trace current trend more efficiency.
The first parameter is " The minimum number of periods used to mark wave."
This indicator will approach the most meaningful Up Trend Line and Down Trend Line.
The personal suggest that the best parameter setting is 30.
The previous Up Trend Line could be the resistance of rebound from current bearish.
Therefore, previous line will keep till appearance of new trend.
The reason to post this indicator by distinct is just for easy to search for everybody.

ATL.lua

(9.59 KiB) Downloaded 5040 times

MT4/MQ4 Version of ATL
viewtopic.php?f=38&t=68816

[Apprentice]

Richard Thank you.
Sorry for the inconvenience.

Another thing.
I get the error message Line 187
Index is Out or range.

I look at it later, or if you find time you can fix it.

[richardtao]

thanks for checking.

the revised version as attached.

[wizardpro]

H,
Great product but some question.
I am using this whereby the length 30 does that mean it a time frames or just math for the paramarter to set it?
I am using H4 does that mean I had to convert this 30min to 4 hour into min or just leave the setting ?
When I go for higher time frames the trend seemed wrong.

[wizardpro]

Hi
Base on the parameter setting at 30 ? Was it a default or was it a time frames which I had to change it if such as changing from H4 ?
The result seemed differnet from 30min and H4 as highlight the trend lin in blue and Red line as show in the images below.
Sceen shot 01 show 30min time frames for Eur/JPY
screen shot 02 show H4 Time frames for Eur/Jpy but it out of the line .
Please do advise.
Images attachment as below expired link on 30th Oct.
Here's the link to this file:
http://www.yousendit.com/download/ZGJlY ... NE5jR0E9PQ

[richardtao]

hi wizardpro

the first parameter is the minimun periods to determin the pervailed trend at the selected time frame in this version.
the recommanded 30 is applied for every time frame.
the indicator will catch difference peaks at the difference time frames.
so that if you want to catch the same peak you need to enlarge parameter at the samller time frame.

in the screenshot002, the previous line is down.
the indicator won't regard 10/25 13:00 as a up trend bottom until break out line or high around 113.9.
the indicator says that from 10/06 around, the price could be constrained by the down trend line till break out.
the closely up trend line is not built by the most currently. it means the up trend is not solid yet.
therefore, the pervailed trend is still down.

in the screenshot002, the story is a little bit diference.
the indicator says that the closely up trend line is built by the most currently price pattern. it means the trend is forming into up.
in such price pattern, it mostly like to be wedge. for your reference.

[richardtao]

sorry the last paragraph is talk to screenshot001. it should be:
in the screenshot001, the story is a little bit diference.
the indicator says that the closely up trend line is built by the most currently price pattern. it means the trend is forming into up.
in such price pattern, it mostly like to be wedge. for your reference.

[jtatalov]

Richardtao,

I just recently downloaded this indicator and love it, but it doesn't seem to recalculate when a new period takes place. I actually have to update my charts manually to get the like to extend to the current candle. Is this something that can be fixed?

Thanks in advance

J~

[richardtao]

hi J
try this version
if any problem please notice me, thanks!

ATL.lua

version 1.2 to redraw when update new bar

(9.68 KiB) Downloaded 2475 times

[Blackcat2]

Could we please have line style option be added?

Thanks
BC