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Trading Entry Based on Manually Drawn Trendlines


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Trading Entry Based on Manually Drawn Trendlines

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  #1 (permalink)
Montreal, QC
 
 
Posts: 1 since Apr 2020
Thanks: 0 given, 0 received

Hi all,

I'm doing some practice with generating a trading entry based off of a manually drawn trendline. In a recent example, I'm struggling to get a strategy to recognize a trendline I've manually drawn on the chart. It appears that TL_Exist remains false throughout the chart. Perhaps I need to change TLID? Do I need to determine what the ID is on a manually drawn line? Otherwise... any thoughts or ideas that could steer me in the right direction? Your assistance is greatly appreciated!

 
Code
Inputs:
	TradeSize(500),
	TLID(1);
	
Vars:
	TLV(0),
	TLVPrev(0);
	
if TradeSize <> 0 AND TLID > 0 then 
Begin
	TLV = 0;
	TLVPrev = 0;

	if LastBarOnChart AND TL_Exist(TLID) then 
	Begin
		TLV = TL_GetValue(TLID, Date, Time);
		TLVPrev = TL_GetValue(TLID, Date[1], Time[1]);
	
		if TLVPrev > 0 and TLV >0 then 
		Begin
			TLV = TLV + (TLV - TLVPrev);
			if TradeSize > 0 then 
				Begin
					if Close > TLV Then
						buy("TLBuy LE") next Bar TradeSize shares at TLV Limit
						Else
						Buy("TL Buy LE") next Bar
						TradeSize shares at TLV stop;
				End
				Else
				if Close < TLV Then
					Sellshort("TL Short LE") next bar -TradeSize shares at TLV Limit
					Else
					SellShort("TLShort SE") next bar -TradeSize shares at TLV stop;
		end;
	End;
end;

print(TL_Exist(TLID));

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June 2, 2020


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