Trendline analysis has become more convenient

Discussion in 'ETFs' started by ninZa.co, Jun 27, 2024.

  1. ninZa.co

    ninZa.co Sponsor

    We've got a trendline indicator packed with unique features. It's called Trendline Autom@ton.

    What makes the indicator so different is its ability to automatically draw an unlimited number of trendlines on the chart.

    This means that even when the trendlines are breached by the price, they remain visible, allowing you to easily analyze price action.

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    With access to an unlimited number of trendlines, you can identify trends across short, medium, and long-term durations, providing valuable insights for market analysis.

    The indicator features the Instance buttons for seamless interval switching, enhancing chart clarity and simplifying your market analysis.

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    The convenience of Trendline Autom@ton doesn't end there.

    If you trade across multiple timeframes simultaneously, the indicator assists you by consistently displaying trendline positions across different timeframes. This feature helps you maintain a clear overview of market trends, enabling smoother analysis.

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    One drawback of typical trendline indicators is their tendency to abruptly halt trendlines upon price contact, even during false breakouts.

    Trendline Autom@ton addresses this limitation. The indicator detects fake breakouts by requiring a specified number of candles with closing prices above/below the trendline, depending on the direction.

    If this condition isn't met, the event is considered a FAKE breakout, and the trendline continues to extend.

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