Automatic trendlines, with push, email and sound alerts.
Every trader knows there are trendlines providing enormous opportunities and there are completely useless ones. Identifying a regime where the trendline system is relevant might provide you with a bunch of trading suggestions right away. Lineverse is the tool. It is versatile, fast, robust, exhaustive and interactive, and it provides a comprehensive display of all possible trendlines as soon as it is attached to the chart. In addition, it detaches you from the trading screen as it will send you alerts when the price will be challenging the set of lines you have assigned.
Looking at the charts, the lines appearance (color, thickness, type) reflects price interaction history: rollback, breakthrough, rollback after a breakthrough, number of rollbacks, expiration by double breakout. Specifically, trendlines change color upon each new interaction, get bolder upon successive rollbacks, and become dashed after double breakthrough.
The alerts inform a user about those events.
A user can edit the lines: drag or delete. The dragged lines remain active and continue extending in time. One can use the dragged lines to create “an alert polygon” seizing the price so that a user will be receiving alerts as the price will be challenging the polygon and escaping it.
The Lineverse trendline definition is the most general available one as it allows the minimal gaps to the left and to the right from every pivot to be different, thus enabling optimal tuning of the trendline system to represent the market situation. E.g., no problem in setting a large internal gap between the pivots while keeping the outside gaps to the price line small.
The parameters of the lines system can be interactively tuned without disabling the indicator. One can opt to create trendlines based either on High/Lows or on Open/Close. A couple of filters is available to refine the system of trendlines, e.g. if many lines pass through the same pivot, only leave those with a maximal and minimal slope.
The initial tuning of the trendlines system is easy with 2 vertical control lines setting the original search range, one can drag the controls to see the original lines system immediately refreshes.
The following inputs are available in the indicator’s properties window and can be defined by the app user:
Minimum number of bars to the left from a left pivot
Minimum gap between pivots, in bars
Minimum number of bars to the right from a right pin
Maximum number of lines
Other parameters and options are described in the YouTube video.
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.
This automated strategy is only compatible with FXCM MetaTrader 4 software. Additionally, an FXCM account is required (including free FXCM demo accounts).
There is no guarantee that the systems, trading techniques, trading methods, indicators will result in profits or not result in losses.
Forex Capital Markets, LLC. (“FXCM LLC”) is an independent legal entity and is not affiliated with Arkady Segal. Arkady Segal is not an employee, agent or partner of FXCM LLC.
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