This indicator detects swing highs and lows using configurable pivot lookback periods and plots upper and lower trendlines directly on the price 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
Slope angles are dynamically calculated using ATR, standard deviation, or linear regression methods. Breakout signals labeled with B appear when price crosses through the trendlines. Key settings allow adjusting the lookback length, slope multiplier, calculation method, extended lines, and backpainting. Because pivot detection uses historical lookback and backpainting offsets elements into past bars, historical lines and breakout signals repaint.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Swing Detection Lookback
int
14
length
Slope
float
1.
mult
Slope Calculation Method
string
Atr
calcMethod
backpaint
bool
true
backpaint
Up Trendline Color
color
color.teal
upCss
Down Trendline Color
color
color.red
dnCss
Show Extended Lines
bool
true
showExt
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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