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Hi Fred,
I hope this could help you a little:
For an up trend line ( joining 2 consecutive lows ),
write a formula to give you a '1' whenever today's close finished
below the trend line ( and suggesting a possible short position
tomorrow ):
if(2*ref(L,-1) - ref(L,-2) > C,1,0)
It can be applied to any time frame.
For a trend line joining yesterday's Low and three days ago's Low
( or any other day in the past ), modify the formula accordingly.
> when a drawn trend line is penetrated ...
You don't need to draw the line, this is a math/ geometrical
way to have a numeric signal ( in this case, the 1's ).
Besides, when you draw a trend line, it changes slope ( and/or
position ) when you zoom in/out the chart or scroll horizontally.
Good trading!.
Efrain R Portales
Fort Worth
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