As a second alternatively based trendline script this is the Standard Deviation vesrion.
This script draws trendlines from the pivot points in the price chart.
The angle of the trendlines is determined by (a percentage of) the Standard Deviation.
The angle follows the change in price, compared to the StDev at the moment where the pivot point is detected
The StDev percentage determines if the trendline follows the rate of change of the StDev or a fraction ( value < 100) or a multiple ( value > 100) of that
JD.
#NotTradingAdvice #DYOR
Disclaimer. I AM NOT A FINANCIAL ADVISOR. THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY. ALWAYS DO YOUR OWN RESEARCH!
Very nice indicator!
Ist there a possible way to create alerts when the price crosses a trendline?
Regards Andrin