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It would be interesting to see the historical TDlines.
Replace LastValue by SelectedValue, arrange how many bars ahead and
here it is:
Plot(C,"",colorBlack,styleBar);
pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
x1=SelectedValue(ValueWhen(pivotlow,Cum(1)-1,1));
y1=SelectedValue(ValueWhen(pivotlow,L,1));
x0=SelectedValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
y0=SelectedValue(ValueWhen(pivotlow AND L<y1,L,1));
L1=LastValue(BarIndex());
CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
x3=SelectedValue(ValueWhen(pivothigh,Cum(1)-1,1));
y3=SelectedValue(ValueWhen(pivothigh,H,1));
x2=SelectedValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
y2=SelectedValue(ValueWhen(pivothigh AND H>y3,H,1));
CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
supplyline=LineArray(x2,y2,x3,y3,1);
ahead=20;
Plot(IIf(Cum(1)<x3+ahead,supplyline,-1e10),"",IIf(CondH!
=1,colorRed,0),styleLine|styleThick|
styleNoRescale|styleNoLabel);
demandLine=LineArray(x0,y0,x1,y1,1);
Plot(IIf(Cum(1)<x1+ahead,demandLine,-1e10),"",IIf(CondL!
=1,colorBlue,0),styleLine|
styleThick|styleNoRescale|styleNoLabel);
PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
*shapeSmallCircle,colorBlue,0,L);
PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
*shapeDownArrow,colorRed,0,H);
PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
*shapeSmallCircle,colorRed,0,H,12);
PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
*shapeUpArrow,colorGreen,0,L);
GraphXSpace=4;
Hit some date of the past to see the TDlines fomation, it is quite
educative.
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> We could ask x0!=0 and x3!=0, but it is possible for the very first
> bar of your data to be the Lowest [Highest].
> So,
> The 2nd trendline point should not be the Lowest L[respectively the
> Highest H] up to this bar.
> The pivot bar occurred L1-x1 bars ago [respectively L1-x3]
> L1=LastValue(BarIndex());
> CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
> CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
> The above conditions should be false in order to have a "regular"
> line.
> One idea is to paint the lines with the ground color.
>
> Plot(C,"",colorBlack,styleBar);
> pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
>
> x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> y1=LastValue(ValueWhen(pivotlow,L,1));
> x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> L1=LastValue(BarIndex());
> CondL=LastValue(y1==Ref(Lowest(L),-(L1-x1)));
>
> x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> y3=LastValue(ValueWhen(pivothigh,H,1));
> x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
>
> CondH=LastValue(y3==Ref(Highest(H),-(L1-x3)));
>
> supplyline=LineArray(x2,y2,x3,y3,1);
> Plot(supplyline,"",IIf(CondH!=1,colorRed,0),styleLine|styleThick|
> styleNoRescale|styleNoLabel);
> demandLine=LineArray(x0,y0,x1,y1,1);
> Plot(demandLine,"",IIf(CondL!=1,colorBlue,0),styleLine|
> styleThick|styleNoRescale|styleNoLabel);
>
> PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> *shapeSmallCircle,colorBlue,0,L);
> PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> *shapeDownArrow,colorRed,0,H);
> PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> *shapeSmallCircle,colorRed,0,H,12);
> PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> *shapeUpArrow,colorGreen,0,L);
>
> Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-"+WriteVal
> (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-"+WriteVal
> (Close) +EncodeColor(colorBlue)+WriteVal((y1-y0)/(x1-x0)+LastValue
> (DEMAndline))+EncodeColor(colorRed)+WriteVal((y3-y2)/(x3-x2)
+LastValue
> (supplyline));
> GraphXSpace=4;
>
> You may arrange also not to plot the shape when CondL, CondH are
true
> [they are at the very first bar]
>
> Dimitris Tsokakis
>
> --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> wrote:
> > Hello Dimitris,
> >
> > I know it's like that. My question is if the code can be modified
> to
> > draw no line if there are no valid pivot points to draw the line
> from?
> >
> > //Martin
> > --- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS"
> <TSOKAKIS@xxxx>
> > wrote:
> > > Nice code.
> > > You ask although
> > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > and, respectively
> > > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > > In this way, some first points may go back more than 2 years.
> > > In the specific case when the recent pivothigh is the highest
in
> > the
> > > available stock history the trendline will not be defined. The
> same
> > > when the recent pivotlow is the lowest [many N100 stocks would
be
> > > without support line back in Oct2002...].
> > > Besides that, if the recent pivothigh is the highest, the
> > resistance
> > > line has a strange beginning.Try for example to import is some
> > > database APOL from Feb2001 till now to see what I mean.
> > > Dimitris Tsokakis
> > > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx>
wrote:
> > > > Yes, that's it! Now it automatically draws the most recent
> demand
> > > > line. I took the liberty to add a supply line by mirroring
your
> > > code
> > > > and making the small changes necessary, but I never
understood
> > what
> > > I
> > > > was doing :-) I noticed a weird thing when this indicator is
> > > applied
> > > > to a stock making a new all time high. If the most recent
> > pivothigh
> > > > is higher than any other pivothigh in the database then a
line
> is
> > > > drawn from the bottom in the middle of the chart through the
> most
> > > > recent pivot high. It looks really strange. Can the code be
> > > modified
> > > > to draw no supplyline when there are no higher pivots to draw
> the
> > > > line from and draw no demand line when there are no lower
> pivots
> > to
> > > > draw the line from?
> > > >
> > > > The basis for the systems I have seen based on TD Lines is
that
> > you
> > > > buy/cover when the supplyline is exceeded and sell/short when
> the
> > > > demand line is broken. Trendlines let you know in advance the
> day
> > > > before, the value of the trendline for the next trading day
by
> > > > calculating the slope of the line and adding it to today's
> value
> > of
> > > > the line. Therefore, one can place the orders in the evening
as
> > > stop
> > > > orders so if a line is broken during the day a position is
> taken.
> > > > Anyway, I wrote the values of the lines for the next day in
the
> > > > title. I realise it's not perfect, because some lines are no
> > longer
> > > > valid lines (for example a supply line that has been exceeded
> > > etc.).
> > > > But more on that later.
> > > >
> > > > There are more improvements to be made, but I think it's
> getting
> > > > there :-)
> > > > //Martin
> > > >
> > > > Here is the modified code with both a supply and demand line:
> > > >
> > > > Plot(C,"",colorBlack,styleBar);
> > > > pivothigh = Ref(H,-1)<H AND H>Ref(H,1);
> > > > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > > >
> > > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > > > x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> > > > y3=LastValue(ValueWhen(pivothigh,H,1));
> > > > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > > > y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
> > > >
> > > > supplyline=LineArray(x2,y2,x3,y3,1);
> > > > Plot(supplyline,"",colorRed,styleLine|styleThick|
> > > > styleNoRescale|styleNoLabel);
> > > > demandLine=LineArray(x0,y0,x1,y1,1);
> > > > Plot(demandLine,"",colorBlue,styleLine|
> > > > styleThick|styleNoRescale|styleNoLabel);
> > > >
> > > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > > *shapeSmallCircle,colorBlue,0,L);
> > > > PlotShapes((Cross(Cum(C<demandLine AND Cum(1)-1>x1),0))
> > > > *shapeDownArrow,colorRed,0,H);
> > > > PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> > > > *shapeSmallCircle,colorRed,0,H,12);
> > > > PlotShapes((Cross(Cum(C>supplyline AND Cum(1)-1>x3),0))
> > > > *shapeUpArrow,colorGreen,0,L);
> > > >
> > > > Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-
> > "+WriteVal
> > > > (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-
> > "+WriteVal
> > > > (Close) +EncodeColor(colorBlue)+WriteVal((y1-y0)/(x1-x0)
> +LastValue
> > > > (DEMAndline))+EncodeColor(colorRed)+WriteVal((y3-y2)/(x3-x2)
> > > +LastValue
> > > > (supplyline));
> > > > GraphXSpace=4;
> > > > --- In amibroker@xxxxxxxxxxxxxxx, "johsun" <johanskatt@xxxx>
> > wrote:
> > > > > OK, I think I get it. Is this what you're looking for?
> > > > >
> > > > > Johan
> > > > >
> > > > >
> > > > > Plot(C,"",colorGreen,styleBar);
> > > > > pivotlow = Ref(L,-1)>L AND L<Ref(L,1);
> > > > >
> > > > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > > > >
> > > > > Line=LineArray(x0,y0,x1,y1,1);
> > > > > Plot(Line,"",colorBlue,styleLine|
> > > > > styleThick|styleNoRescale|styleNoLabel);
> > > > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > > > *shapeSmallCircle,colorBlue,0,L);
> > > > > PlotShapes((Cross(Cum(C<Line AND Cum(1)-1>x1),0))
> > > > > *shapeDownArrow,colorRed,0,H);
> > > > >
> > > > >
> > > > > Title="TD Demand Line";
> > > > > GraphXSpace=4;
> > > > >
> > > > >
> > > > >
> > > > >
> > > > > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx>
> > wrote:
> > > > > > Thank you very much, Johan. I replaced all the
> SelectedValue
> > > with
> > > > > > Lastvalue to only get the most recent trendline. I think
> your
> > > > > formula
> > > > > > does exactly what I described. However, after looking at
> some
> > > > > charts
> > > > > > I realised my description was a bit wrong. You see, there
> > > should
> > > > > > always be a demand line (upward sloping line) connecting
> the
> > > most
> > > > > > recent pivot with the second most recent pivot that is
also
> > > lower
> > > > > > than the most recent. This code compares the two most
> recent
> > > > > > pivotpoints and if the second most recent is greater than
> the
> > > > most
> > > > > > recent, then no line is drawn. What it really should do
is
> > > first
> > > > > > identify the most recent pivot, and then go back and look
> for
> > > the
> > > > > > next pivot that is lower and connect those two with a
line,
> > > > > wherever
> > > > > > that next pivot is. The exception is when a stock makes a
> new
> > > all
> > > > > > time low, because then no lower pivot point can exist to
> draw
> > a
> > > > > line
> > > > > > from.
> > > > > >
> > > > > > Maybe this requires a lot more programming, but can it be
> > done?
> > > > > >
> > > > > > So far I think it's a great start!
> > > > > > //Martin
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