Trend Line in Fchart

[rhimadri]

Trend Line Formula in Fchart

Trend Line formula for Fchart Pro users:-

First set 'ATR' periods to 13 and copy the following formulas in the respective udi:-

UDI1 = CALCLSQR C, 13
UDI2 = HIGHEST_UDI1[13]
UDI3 = ATR * 2.5
UDI4 = UDI1 - UDI3
UDI5 = HIGHEST_UDI4[13]
UDI6 = IF (UDI4 < UDI5, UDI5, UDI4). Plot UDI6 on Main Chart and force to price scale.

Now UDI6 Will be your active trend line. You may use the same as your protective stop loss. Exit from the trade if price closes below the line on two consecutive days and also take a position after price two consecutive closes above the trend line.
Please note that when the above becomes flat or straight line, short term trend is likely to change. Short term traders may use the above line on daily chart and long term traders on weekly chart.

If you want to scan formula for buy and sell derived from the above trend line use the following formula :-

1) CLOSE > UDI6 AND CLOSE[1] > UDI6[1] AND CLOSE[2] < UDI6[2]

2) CLOSE < UDI6 AND CLOSE[1] < UDI6[1]
Cheers

Himadri

 

[fool1234]

nice things to do it

 

[baqer110]

Re: Trend Line Formula in Fchart

Trend Line formula for Fchart Pro users:-

First set 'ATR' periods to 13 and copy the following formulas in the respective udi:-

UDI1 = CALCLSQR C, 13
UDI2 = HIGHEST_UDI1[13]
UDI3 = ATR * 2.5
UDI4 = UDI1 - UDI3
UDI5 = HIGHEST_UDI4[13]
UDI6 = IF (UDI4 < UDI5, UDI5, UDI4). Plot UDI6 on Main Chart and force to price scale.

Now UDI6 Will be your active trend line. You may use the same as your protective stop loss. Exit from the trade if price closes below the line on two consecutive days and also take a position after price two consecutive closes above the trend line.
Please note that when the above becomes flat or straight line, short term trend is likely to change. Short term traders may use the above line on daily chart and long term traders on weekly chart.

If you want to scan formula for buy and sell derived from the above trend line use the following formula :-

1) CLOSE > UDI6 AND CLOSE[1] > UDI6[1] AND CLOSE[2] < UDI6[2]

2) CLOSE < UDI6 AND CLOSE[1] < UDI6[1]
Cheers

Himadri

This trend line formula does not make any sense because
1. UDI2 is not used anywhere. Why it is given?!
2. Main Formula for UDI6 IF function does not make any sense because UDI4 is always going to be < UDI5. This means your chart is always plotting UDI5!!

 

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