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ALT for Amibroker (AFL)
over 8 years ago
Amibroker (AFL)

3 / 5 (Votes 3)
trendline, amibroker

Its useful to understand price pattern..

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Indicator / Formula

Copy & Paste Friendly
x = Cum(1);

perchg = 0.3*LastValue( Highest( ROC( Low, 50 ) ));

startvalue = LastValue( Trough( Low, perchg, 1 ) );
endvalue1 = LastValue( Trough( Low, perchg, 2 ) );

startbar = LastValue( ValueWhen( Low == startvalue, x, 1 ) );
endbar = LastValue( ValueWhen( Low == endvalue1, x, 1 ) );

Aa = (endvalue1-startvalue)/(endbar-startbar);
b = startvalue;

trendline = Aa * ( x  - startbar ) + b; 

Plot( Close, "Price", colorBlue, styleCandle );
Plot( IIf( x >= endbar, trendline, Null ), "Trendline", colorRed );


1. Pascal SAMSON

This AFL is similar to Automatic Trend Line (ATL) submited by the Administrator some time ago. Good formula, but nothing new.

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