This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v5 · On the chart
Snagprofit Trend Line
This indicator plots dynamic fractal-based trend lines directly on the price chart.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code87
Settings6inputs
LicenceNone stated
Last update4 years ago25 Jul 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Snagprofit Trend Line calculates local highs and lows using a configurable fractal period, derives angle slopes between swing points, and draws projected ray lines across recent segments. The script also displays target price labels near the latest bars when trend lines converge close to current price action. Users can adjust the fractal period, segment range, bar calculation limit, and ray extension styles. Because it is an indicator, it does not generate automated trade execution signals.
- Fractal swing high and low detection
- Dynamic angle calculation
- Configurable ray extension options
- Target price level labels
Details
Published by
dearvn on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
futurestrading-strategiestradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Bars Limit | int | 100 | limit |
| Segment Range | int | 55 | rng |
| Fractals Period | int | 15 | term |
| Ray Style | string | Right | ray |
| Target Label | string | Label | show_label |
| Channel Dig | string | NoChannel | channel |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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