INVITE-ONLY SCRIPT
Auto Trend Lines Breakouts and Bounces Signals and Alerts
Atualizado
Auto Trend Lines Breakout with Confirmation Bounce Signals and Alerts
This indicator draws trend lines automatically based on the 2 pivot points, which are calculated based on the specified number of bars (length), which is of course customizable. The indicator then shows you when these trend lines get touched (potential bounce) or “almost touched” (Yes! The script can do that as well!) by the current price of the instrument or broken and then confirmed by the “after break come back touch” – classic! Everything is shown on the chart, and for everything - alarms can be set up with just a few clicks!
Now there are 2 modes here (you can hide all signals as well and just use the trend lines):
1) Current/recent trend lines only: will only show 2 current upper/lower trend lines as well as previous 2 for reference. [This mode also shows trend line break-and-reversal signals!]
2) All time (historical) trend lines: will show 2 current upper/lower trend lines as well as the historical lines from the past and these lines are often very respected by the price!
Besides that, you can set the indicator to show you exactly what you want: Just the trend lines touches/bounces, breaks with confirmation touches/bounces or BOTH.
In addition to that, you can set the indicator to only show you these touches/bounces and breaks with additional confirmations, only if confirmed by [Some of these features are only available for breaks signals obviously]:
- Moving Average (customizable length): LONG signals based off the trend lines will only be shown if above EMA, SHORT if below.
- Signals where the candle color confirms the direction of the trade, but the candle type is opposite (like a green colored bearish hammer for example) will be avoided (such candles can be very uncertain/deceptive)
- Signals where the signal candle is doji will be avoided (uncertain)
- Signals will only be shown if supported by the trend line slope (for example, with this feature turned on, if there is an upper line trend line, but the line is actually above, touching the top of the candles and the price touches/crosses it or it gets broken – there will be no signal as even though the trend line is an upper line above candles, it’s slope is positive (going up), if the slope would be down, like a classical down/bearish trend line and the price touches/bounces off it or the line gets broken, only then the indicator will show the signal/alert.
- OFFSET: this one is really cool! With this feature you can hunt these conditions when the price comes very near the trend line, but never touches it. With this setting turned on, with a correct offset amount – you will be able to catch these! You will need to play around with the offset amount, depending on the timeframe/instrument, be quick-n-easy!
The indicator also includes Round Number lines on the chart, which are customizable for any instrument. As you know round numbers are appreciated by the price and can be very nicely used with this indicator looking for combos or using trend lines for signals, while round numbers as partial profit price targets or stop-loss areas.
Important economic events are also shown on the chart as red vertical lines (during these events, volatility can suddenly spike, so it’s best to stay away from trading!)
This is a very powerful indicator with plenty of customizations to find the best approaches, can be used for any instrument and on any timeframe! Awesome for scalping and could be used with swing trading as well! Enjoy!
To add the alerts
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Auto Trend Lines Breakout with Confirmation Bounce Signals and Alerts
-Alert name: DO NOT TOUCH THIS
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
A few strategies how this indicator can be used (these were actually tested and showed awesome results!):
1) Bounce Scalping: Simply hunting bounces off the trend lines. Often the price will slightly cross the trend line and then immediately bounces from it for nice little price move, which is great for scalping or if you for example take 2/3s off the position and leave the remaining, often with such bounces – the price may reverse from the trend line and go in the opposite direction considerably.
2) Break-Bounce-Confirm: this is the “Breaks with Confirmation Bounce” option of the script which fully automates the classical trend lines break confirmation, where the trend line is broken (which could be a fake out), so you wait for a touch/bounce of that trend line back from the initial break and open the position right there or wait and see if after the touch/bounce back, the price once again goes into the direction of the break.
For stop-loss and take-profit areas, you can use:
1) Pivots (these are marked with red and green crosses on the chart), which are used to draw the actual trend lines.
2) The actual trend lines themselves (if one gets broken + confirmation, you can set your stop-loss if that same line gets broken again in the opposite direction | similar for take-profit, you can take profit or partial profit at next trend line on the chart if the price reaches it.
3) Use the Round Numbers included, for example: use the closest round number as a visual soft stop-loss and the furthest one away as a visual soft take-profit.
You can try combining this indicator with divergence, stochastic, Bollinger bands, pretty much anything!
If you wish to try this out for a week or so – please reach out and I will give you access.
This indicator draws trend lines automatically based on the 2 pivot points, which are calculated based on the specified number of bars (length), which is of course customizable. The indicator then shows you when these trend lines get touched (potential bounce) or “almost touched” (Yes! The script can do that as well!) by the current price of the instrument or broken and then confirmed by the “after break come back touch” – classic! Everything is shown on the chart, and for everything - alarms can be set up with just a few clicks!
Now there are 2 modes here (you can hide all signals as well and just use the trend lines):
1) Current/recent trend lines only: will only show 2 current upper/lower trend lines as well as previous 2 for reference. [This mode also shows trend line break-and-reversal signals!]
2) All time (historical) trend lines: will show 2 current upper/lower trend lines as well as the historical lines from the past and these lines are often very respected by the price!
Besides that, you can set the indicator to show you exactly what you want: Just the trend lines touches/bounces, breaks with confirmation touches/bounces or BOTH.
In addition to that, you can set the indicator to only show you these touches/bounces and breaks with additional confirmations, only if confirmed by [Some of these features are only available for breaks signals obviously]:
- Moving Average (customizable length): LONG signals based off the trend lines will only be shown if above EMA, SHORT if below.
- Signals where the candle color confirms the direction of the trade, but the candle type is opposite (like a green colored bearish hammer for example) will be avoided (such candles can be very uncertain/deceptive)
- Signals where the signal candle is doji will be avoided (uncertain)
- Signals will only be shown if supported by the trend line slope (for example, with this feature turned on, if there is an upper line trend line, but the line is actually above, touching the top of the candles and the price touches/crosses it or it gets broken – there will be no signal as even though the trend line is an upper line above candles, it’s slope is positive (going up), if the slope would be down, like a classical down/bearish trend line and the price touches/bounces off it or the line gets broken, only then the indicator will show the signal/alert.
- OFFSET: this one is really cool! With this feature you can hunt these conditions when the price comes very near the trend line, but never touches it. With this setting turned on, with a correct offset amount – you will be able to catch these! You will need to play around with the offset amount, depending on the timeframe/instrument, be quick-n-easy!
The indicator also includes Round Number lines on the chart, which are customizable for any instrument. As you know round numbers are appreciated by the price and can be very nicely used with this indicator looking for combos or using trend lines for signals, while round numbers as partial profit price targets or stop-loss areas.
Important economic events are also shown on the chart as red vertical lines (during these events, volatility can suddenly spike, so it’s best to stay away from trading!)
This is a very powerful indicator with plenty of customizations to find the best approaches, can be used for any instrument and on any timeframe! Awesome for scalping and could be used with swing trading as well! Enjoy!
To add the alerts
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Auto Trend Lines Breakout with Confirmation Bounce Signals and Alerts
-Alert name: DO NOT TOUCH THIS
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
A few strategies how this indicator can be used (these were actually tested and showed awesome results!):
1) Bounce Scalping: Simply hunting bounces off the trend lines. Often the price will slightly cross the trend line and then immediately bounces from it for nice little price move, which is great for scalping or if you for example take 2/3s off the position and leave the remaining, often with such bounces – the price may reverse from the trend line and go in the opposite direction considerably.
2) Break-Bounce-Confirm: this is the “Breaks with Confirmation Bounce” option of the script which fully automates the classical trend lines break confirmation, where the trend line is broken (which could be a fake out), so you wait for a touch/bounce of that trend line back from the initial break and open the position right there or wait and see if after the touch/bounce back, the price once again goes into the direction of the break.
For stop-loss and take-profit areas, you can use:
1) Pivots (these are marked with red and green crosses on the chart), which are used to draw the actual trend lines.
2) The actual trend lines themselves (if one gets broken + confirmation, you can set your stop-loss if that same line gets broken again in the opposite direction | similar for take-profit, you can take profit or partial profit at next trend line on the chart if the price reaches it.
3) Use the Round Numbers included, for example: use the closest round number as a visual soft stop-loss and the furthest one away as a visual soft take-profit.
You can try combining this indicator with divergence, stochastic, Bollinger bands, pretty much anything!
If you wish to try this out for a week or so – please reach out and I will give you access.
Notas de Lançamento
* Minor bug fixNotas de Lançamento
* Another bug fixNotas de Lançamento
* Cleaned up signal labels, should look much cleaner nowNotas de Lançamento
* Round numbers labels should not longer duplicate with each candle closeScript sob convite
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Instruções do autor
″If you wish to try this out for a week or so – please reach out and I will give you access.
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