Manual Trend Line Breakout Labels and Alerts (TA:MTL)
TA:MTL is an indicator designed for manually plotting trend lines with advanced features including future extension, automatic breakout labels, and alerts. Developed for traders and analysts seeking precise trend determination and timely response to trend changes.
Key Features
Usage Instructions
TA:MTL is an indicator designed for manually plotting trend lines with advanced features including future extension, automatic breakout labels, and alerts. Developed for traders and analysts seeking precise trend determination and timely response to trend changes.
Key Features
- Manual Trend Point Selection: Set two time points to define the start and end of the main trend line.
- Adaptive Extension: The trend line automatically extends into the future, aiding in the anticipation of potential trend direction.
- Strict Breakout Conditions: The indicator monitors strict breakout conditions where the price must cross the trend line post-bar closure, providing more reliable signals.
- Visual Labels and Alerts: Visual labels appear upon detecting a breakout, accompanied by alerts for immediate user notification.
- Customizable Appearance: Choose colors for primary and extended lines, as well as for breakout labels.
Usage Instructions
- Set two time points (Trend time point 1 and Trend time point 2) to determine the initial and final points of the trend line.
- Select the position type (Position Type) - "Long" for an upward trend or "Short" for a downward trend.
- Customize the appearance of lines and labels using the available color parameters.
- Activate the display of the future line extension (Show Future Line) if needed.
- Monitor automatic labels and alerts to identify breakout moments of trend lines.
Release Notes:
small update: default colors