when drawn properly make an excellent tool for traders. Used improperly though, they become ineffective and even counterproductive, resulting in a belief that prices have made a reversal when they really haven't, or that a trend has strength when price action suggests it doesn't.
The Boss Auto Indicator draws the automatically, and now you can effectively use as part of your trading strategy.
highlight a trend or range (sideways movement). A connects swing lows, where the low is lower than the surrounding prices, and swing highs in price. When the price rises, the swing lows rise.
Red Lines & Dots.
Connecting these lows with a line results in an ascending , showing you that the trend is up. A can also be drawn along the swing highs. This shows the angle of ascent, and the strength of the price move, whether strongly higher or not.
Green Lines & Dots
When the price falls, the swing highs fall. Connecting these highs with a line results in a descending , illustrating the downward trend. A can also be drawn along the swing lows. This shows the angle of descent and the strength of the downward price movement.
Available at https://bosscripts.com/collections/front...
My script was actually based on the open source work of binary36 as I needed a trendline function for one of my indicators and I decided it could be a usefull missing function in TV for other people to use if they needed trendlines in their indicators.
But if the script is your own work, then cudo's and appologies to you for having the same idea!