maigcaloctopus

CC - ATP (Auto-Trendline Projection)

I created this script with a simple goal in mind: Automatically plot trend-lines for a given interval with a resolution that fits the period chosen.

To accomplish this I used a combination of the following:
  • Ichimoku Spans and Ichimoku Span Width.
  • ATR and standard deviation from the ATR of the Ichimoku width.
  • Rolling MACD with directional RSI for coloration based on acceleration.

I then combined all of these pieces of data into a single label and line plotter, so that you can see the assumed trend-lines for the current period based on the interval selected. It attempts to avoid using look-ahead logic by resolving using security, and plotting based on the suggested methodologies.

Inputs:
  • n (this must be the smallest number). - This is usually 7,14 or 26 depending on the resolution you're going for.
  • m (must be m > n and m < o). - This is usually something close to 14,26 or 52.
  • o (must be o > m and o < p). - This is usually something close to 26,52 or 180.
  • p (must be p > o). - This is usually just o * 2 or 52, 180 or 360.
  • Show historical data - Keeps some of the lagging trend-lines at intervals of m, o and p.
  • Precision - The decimal precision to round to, useful if you need this for BTC or penny stocks.

Common Inputs I use:
n=7, m=14, o=26, p=52
n=14, m=26, o=52, p=180
n=26, m=52, o=180, p=360

You can use any numbers, but roughly you want:
m = n*2, o = m*2, p = o*2.

The labels contain the following information:

Expected Support/Resistance levels
  • The first level is assumed to be heading to the second level.
  • For instance, if you have S1 down to R2, that means a support is likely to become a resist.
  • If you have, instead, R1 up to R2 that means the resistance is moving up, but is still resist.
  • S1 down to S2 is similar in that it means the support level is moving lower but is still sup.
  • R1 up to S2 is the one that you want to look for as it indicates potential swings.
  • More-overly, R1-->S2 or S1-->R1 indicate pivotal moments.

MACD / RSI for the given period.
  • Pretty simple, it's given to the number of decimal places offered by the inputs.

Price Targets.
  • If it's above the price target area, that means the swing already probably happened.
  • If it's in the price target area, you're at a pivotal moment; it could go up or down.
  • If you're below the price target area, watch for catalysts that force price target entry.

WARNING:
Please note, all of this is trend analysis and can be completely demolished in an instant by a catalyst. If there is a huge retracement event, you MUST WAIT A MINIMUM OF THE INPUT PERIOD OF TIME FOR THE STOCK TO SETTLE. If you have a retracement within n-m periods for instance, the short data will be inaccurate. If you have a retracement from m-o the mid data may be inaccurate until it triggers retracement. Same with o-p on the long level. The higher numbers you use, the less reactive the script, but the more historical data it will consume. For instance high numbers may be good for amazon, so you have less reaction to big dips, as you are not afraid because it is a strong company. While this is good on strong companies, it is suicidal for unknown ones.

DISCLAIMER:
I do NOT state anywhere that the data provided by this indicator is valid, forward looking, or guaranteed. If you make a trade based on this indicator I am in no way responsible for the outcome. All trades should be backed by personal due diligence and not rely directly on the indicators of others, as they may contain unfound bugs, incorrect math or look-ahead logic that is potentially dangerous. One final disclaimer, I am a programmer at heart, and am new to this field of study. While I have found a group of supportive friends, do realize I have been at this for less time than most others, more notably I started on 8/16/2020. Please shower me with constructive criticism and other thoughts you have.

Please take this script and view it as a learning experience not a tool for money as of this moment, if you have further questions about me or my scripts, please feel free to message me.

All of these scripts are sponsored by NChart, as he has graciously given me money for trading view premium to help me develop scripts! Check my bio for more information and a link to their twitter. Mods if this is not okay DM me, thanks! Apologies.
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