Trend Lines with Alerts

Trend Lines with Alerts

Trend Lines with Alerts automatically identifies and plots trend lines based on recent price pivots and offers real-time alerts when those trend lines are broken. It enables traders to visualize market trends, determine potential price direction, and react promptly to trend reversals. The script can also display violated trend lines for historical reference.

How to Use:

1. Enable/Disable Trend Lines: The script allows you to toggle the trend line plotting on or off with a simple switch (Enabled option).

2. Configure Parameters:

   • Points to Check: Define how many pivot points are considered when identifying trends.
   • Maximum Violation: Specify how many bars can violate a trend line before it is considered broken.
   • Excepted Last Bars: Exclude a certain number of bars at the end to prevent new price action from immediately influencing trend lines.
   • Show Violated Trend Lines: Option to highlight broken trend lines for analysis.
   • Line Extension: Choose whether to extend the trend lines in one or both directions for visual clarity.
   • Show Labels: You can enable labels for each trend line, marking “Uptrend” or “Downtrend” points directly on the chart.

3. Alerts: The script triggers an alert when a trend line is broken (i.e., price crosses below an uptrend or above a downtrend), allowing traders to act swiftly. Alerts are generated once per bar to avoid unnecessary noise.

Benefits for Users:

• Automatic Trend Detection: Save time by having trend lines automatically plotted based on historical pivot points.
• Real-Time Alerts: Stay ahead of market movements with instant notifications when a trend changes.
• Customizable: Tailor the script to your trading strategy by adjusting the parameters for how trend lines are drawn and when alerts are triggered.
• Historical Reference: Review previously broken trends by enabling violated trend lines, offering insights for future trades.
• Clear Visuals: The script visually differentiates uptrends and downtrends with distinct colors and line styles, making it easy to interpret market direction at a glance.

Trend Lines with Alerts is ideal TradingView indicator for traders looking for a streamlined way to monitor and respond to changing market trends, reducing the need for manual analysis.