Free indicator to quickly detect trendline breakouts and high or low of a price range. It displays lines based on the highs and lows of prices, and also finds and displays inclined trend lines. As soon as the price goes beyond the line and the candlestick closes, the indicator signals this with an arrow (you can also enable an alert). This indicator is easy to use and also free. The number of candles for defining trend lines as well as the high and low of the trading range is configurable. It works on the H1 timeframe.Also, there is a version for the MT4 platform: https://www.mql5.com/en/market/product/18335
Options
- TradingRange - the number of bars in the trading range where highs and lows will be determined;
- Distance - the minimum distance from one maximum (minimum) to another for plotting trend lines;
- Shift - shift to identify a breakout, relative to the trading range;
- EnableAlert - enable and disable alerts (true - enabled);
- TrendLinesColor - color of inclined trend lines;
- HorizontalLinesColor - the color of the horizontal lines (based on the highs and lows of the price).
