Trend Lines v2 identifies pivot highs and lows using a user-specified period and checks combinations of these points to determine valid trend lines that do not get violated by subsequent price action. Valid lines are maintained up to a maximum of three per side with customizable colors. The script filters data from a configurable start date and uses arrays to store recent pivot values and positions for efficient checking. It operates in Pine Script v4 and draws directly on the price chart without additional panes.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Start Year
int
2020
startyear
Start Month
int
1
startmonth
Start day
int
1
startday
Pivot Period
int
20
tlprd
Number of Pivot Points to check
int
3
PPnum
Colors
color
color.lime
utcol
dtcol
color
color.red
dtcol
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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