LH-LL/HL-HH Confirmation Trend Line

Based on Dow Theory, a series of successive higher highs (HH) and higher lows (HL) is the sign of an uptrend (bull trend) and a series of successive lower highs (LH) and lower lows (LL) is the sign of a downtrend (bear trend).
So this script indicates the trends using the concept and draws corresponding trend lines .
It took some effort to make it possible for users to see as many trend lines as they wish. Eventually the user could set the number alongside some other options in the indicator settings.
Use the script and send me your thoughts!
Note di rilascio: Fixed some line calculation bugs!
Note di rilascio: - A tweak to the line calculations!
Note di rilascio: Fixed another line calculation bug!
Note di rilascio: - Added Multi-TimeFrame Capability
Now users could check trend lines from other time frames on the current chart. Trend lines from other time frames may not be as precise as expected on the current time frame, but they are useful for sure.
Note di rilascio: - Cleaned the code!
Note di rilascio: - Added an output signal which might be used as external source in other indicators; '1' means "Uptrend", '-1' means "Downtrend" and '0' means "No Detected Trend".
To use the feature you can see this:
Or if you are a Pine coder, you can use the external source in your scripts by adding some line like the following to your code:
xSrc = input(close, "External Source")
and then change the source in your indicator settings to "LH-LL/HL-HH Trend: Plot".
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?


Awesome. Clean and insightful indicator.
@grdnryn, Thanks!
This indicator is a game changer man. When I have the money I'll give you some coin because this is phenomenal. I can't say that of many things here.
informanerd SoAmusing777
@SoAmusing777, Thank you very much. I received your encouragement already. If you think so, I may work on making it better, and I welcome your opinions.
SoAmusing777 informanerd
@informanerd, Awesome :) Honestly, I'm not sure what to add. It auto adjusts the lines and if I wanna see multiple time frame i just click the other time frame up above rather than having all the lines in one place on one time frame. still, it would be cool to have two timeframes of lines at a time and be able to set their color to differentiate from them.
informanerd SoAmusing777
@SoAmusing777, Of course! I've had some issues combining 2 time frames, but I'll work on that for sure. Thanks.
SoAmusing777 informanerd
@informanerd, My pleasure!
trust me. this is the only indicator i have come to love on tradingview. Thanks so much, though it has some few lapses, its able to catch the trend so early to secure a good profit. i have studied it for almost four days now. i would like to know how to turn on the multi-time frame.
informanerd benzerkess
@benzerkess, My pleasure! To see trend lines from other time frames, click on the indicator "Settings" button and then change the "Time Frame" option. Note that the trend lines from other time frames may not be as precise as expected for now.
SoAmusing777 benzerkess
@benzerkess, There's a few more that I love, but you're not wrong. This indicator is insanely incredible. I thought you might be overstating it. You're not. For me, I prefer to just switch between the time frames up top. It's easier than having a bunch of lines on 1 time frame chart. I already have the setting to draw multiple lines.