Trend Lines is “a linear study which represents the current direction of the trend plus a projection band representing a user defined standard deviation.”
Trend Lines represent last exit opportunities for an overall position and work in conjunction with the First Alert and Add on Alert.
With First Alert, once the instrument closes above the upper stop line for a buy or below the lower stop line for a sell, this study assumes risk control.
Add on Alert opportunities use lower stop lines for buys and upper stop lines for sells. It is recommended that all stops should be placed as stop close only orders.
This study is displayed using two line types:
•TrendLineDn = red line
•TrendLineUp = green line
Line color and thickness can be changed in preferences.
Trend Lines Parameters
|
Parameter |
Description |
|
Display |
Opens sub-window to set parameters: •Color = Line color. •Weight = Line thickness. |