Thank you to LunaOwl for the American lines her script made me realize the need to have , supports, and resistance on charts.
Also, a copy of Lij_MC code from was taken which had been credited to Duyck. Thank you Duyck.
The BB was copied from morpheus747
As I researched different strategies one strategy seemed to assist the trader for entry and exits. It was the combination of on the . In addition, diagonal lines (Recently introduced in pine script V4) assists in the direction and reversals that may occur. What is supplied is only a graphical representation and no trade entry or exit points are selected.
On the chart you can use;
• line or bar;
• High / Low support line;
• Diagonal . A primary and a secondary group of ; and
• candle highlighter.
I am hoping people with great skills could assist to develop this to the next level.
I hope this graphical strategy may help until further development. Enjoy.
Just an idea... since you have the equation of the trend line (using 2 points), can you use that to calculate the projection/extension to the current bar using y=mx+c (where x is the distance away from the initial point and m = (Ay - By / Ax - Bx))? If it's a positive gradient (m) then check if RSI closes below it then alert a break of that up trend line. If it's a negative gradient (m) then check if RSI closes above it then alert a break of that down trend line.
I would love to hear your suggestions and also if you have been using it and the success rate.
I have posted the potential entry and exit trades for Overbought/Oversold areas, and Support and resistance locations.
It could be located https://pastebin.com/EiJzs0WW.
If you could assist with improving trade entry and exit points, I would love to get a reply and have a chat.