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Hello
I am trying to create a Trend Line Rejection Indicator.
The idea is as the price trends at times the price comes to the BigTrend line and then is rejected from it.
This would be the ideal time to enter a trade in the direction of the trend.
I have obtained the code for a BigTrend indicator and now I am attempting to add a signal line to follow the price. Which for some reason is not being displayed.
The code I am using works on another indicator I developed but does not want to plot on the BigTrend Indicator.
max-td
Please find attached the TlineRejection indicator I am working on.
What I would like to carry out is a comparison with the addtional line I am trying to add and the BigTrend line.
Currently I have the basic trade indicator arrow working but would like to reduce the number of signals produce via a comparison with the additional line.
Eric
i think you mean you want to reduce the printed arrows when you talk about "reduce the number of signals "
in the picture you have my ideas to this :
you can make a condition to check if the 2. line is also falling
AND / OR
you can check if the Bars are going in your direction (pos / neg Bars)
Therefor you have to look at bar 1 if this had the right difference to your BigTrendLine - because the falling-condition is true 1 Bar later.
So also your arrows are one bar later - but thats normal.
it depends on what you want to create : an early "heads-up"-alert or more a realtime trade-signal
Also basicly i would make it like this :
i would insert the both lines (EMA + VWMA) as normal Indicators in my chart.
then i would mnake a third indicator that only do the arrow-plotting per condition-check.
that makes me free from having to put all the plots AND the condition-stuff in one indicator (this causes my errors mostly)
i hope you understand what i mean - i am not the biggest in explaining things
