Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Automatic Fibonacci Levels
The tool has a very useful feature to automatically detect the highest and lowest value from the short timeframe to calculate Fibonacci support and resistant levels. To keep the chart area clean, the lines are drawn short by default towards the right side of the price but provide inputs to increase the size of the level lines towards the left and right direction. A triangle label appears to the side of each line which holds the Fibonacci level and price data inside the tooltip, hover over them to activate.
- Toggle on/off color coded
- Change Default, Resistance, Support colors
- Change line size towards the left and right side
- Change line width
- Change Resistance line style
- Change Support line style
- Toggle on/off High and Low source line
- Toggle on/off High and Low source labels
- Auto Fib levels for both Long and Short timeframes
- Options to select From / To for both top and bottom trend lines of each timeframe
- Option for 3rd Trend where you can choose from/to either timeframe position
- Updated fib labels to show direction of fibs, can also show fib level position instead of level - configurable
- Option to select how many levels further from next level to show, on each timeframe
- Config panel heavily extended for much further customization on line widths, styles, colors, per timeframe and section - make this your own!
- Improved trends color coding based on aim of center line
Glad you guys are finding value in this, I appreciate the love I've received.
If you have any suggestions for this tool, feel free to drop a comment - I'm open to all type of suggestions and feedback.
This update includes a fix for high/low values getting rounded on the trends,
this was most noticeable on assets under $1 - it has now been fixed an set as default setting.
Feel free to comment any issues or suggestions you have!
Happy trading and may the Fats bring you fortune :)
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.