watchme3

Showing the capabilities of what I call Fractals (SHS and iSHS)

FX:UK100   FTSE 100 index of UK listed shares
We all know how to calculate a possible target when a a SHS             or iSHS appears with a horizontal neckline mirroring the top-neckline distance. What is less known however, is the fact that sloped necklines can also be very supporting. In that case you take the point of the bar connected to the neckline with the greatest distance to the Head. In my example you cannnot recognize a SHS             , but as you can see it workes (this time...) the same and also very accurate in this case!

I'm planning to make a Pine script to calculate the target value and to add that value as text and a horizontal line on that target value to the graph as in this example. I'm however completely new to Pine scripting. So, if anyone can give me some inside how to find the values where the bars are connected to my blue 'neckline' I would be very grateful!
watchme3
6 months ago
From growing inside in Pine scripting I can now say this idea will not be possible, because Pine is a vector based language and not an object oriented language, so a user drawn line is not referrable in Pine code. Sad...
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