My algorithm isn't anything new in terms of the idea of picking highest highs & lowest lows to build a zigzag pattern. These have been around for years, however, many are hard to use and have a lot of inputs, or, you have to modify inputs on each chart and timeframe you choose. That is the beauty of my newly created algo, it works on EVERY symbol (futures, forex, stocks, ETF, etc.), on EVERY timeframe (seconds to months), and on EVERY bar-type (Time, Renko, Heikin Ashi, Volume, Range, etc.) AND... ONE easy-to-use INPUT, and honestly, leaving it at the default is all you really need to do. Then, there are inputs for adjusting the plot colors and line types, and each set of plots has an on/off switch. This algo is now a template for several ABCDE auto-draw and auto-finder scripts which will all be for sale on my website.
I have made some posts about the Measured Move script shown here, but the Automatic Trendlines is the new sister script. Both are working well here in beta testing! :-)
The trendline script locates 12 trendlines off HH's and LL's from the algo, and then draws them. The feature in the script that makes it valuable, imho, is how it automatically erases invalid lines and shows once-valid-but-now-breached lines in a separate method to point them out well. More to come on this script, the Measured Moves script, and soon the Fibonacci, and harmonic wave theory attachments to the algo!
What I have on a chart here is a calling out of the move on CL futures (crude oil), and it may be time to go long, so we will continue watching and looking for those long targets!! (67.81)
-Test trade only.
As always, happy trading!
d^.^b
I have made some posts about the Measured Move script shown here, but the Automatic Trendlines is the new sister script. Both are working well here in beta testing! :-)
The trendline script locates 12 trendlines off HH's and LL's from the algo, and then draws them. The feature in the script that makes it valuable, imho, is how it automatically erases invalid lines and shows once-valid-but-now-breached lines in a separate method to point them out well. More to come on this script, the Measured Moves script, and soon the Fibonacci, and harmonic wave theory attachments to the algo!
What I have on a chart here is a calling out of the move on CL futures (crude oil), and it may be time to go long, so we will continue watching and looking for those long targets!! (67.81)
-Test trade only.
As always, happy trading!
d^.^b
Comment:
s3.tradingview.com/s...shots/y/YhscOTTH.png
Trade closed manually
