OPEN-SOURCE SCRIPT
Tangent Angle Trend Lines by Mustafa KAPUZ
Mis à jour
This custom indicator dynamically draws trend lines based on the tangent angle calculated from the current price level, offering a unique perspective on market momentum and potential reversal points. Designed for traders who appreciate the integration of geometry in technical analysis, this tool provides an innovative approach to identifying trend strength and direction.
Features:
Dynamic Angle Adjustment: The indicator automatically adjusts the angle of the trend lines according to the current price magnitude, ensuring relevance across various price levels and market conditions.
Period Customization: Users can set the period over which the highest and lowest prices are considered, allowing for flexibility in analysis over different time frames.
High and Low Price Labels: Clearly labeled highest and lowest prices within the selected period provide quick insights into critical levels.
Angle-Based Trend Lines: Utilizes the tangent of specified angles to project future price paths, helping to visualize potential trend continuations or reversals.
How It Works:
The indicator first calculates the highest and lowest prices over a user-defined period.
It then determines the angles for the trend lines based on the current price, ensuring the angles are dynamically adjusted to reflect recent market activity.
Trend lines are drawn from the highest and lowest points, projecting outwards at the calculated angles to indicate potential future price movements.
Usage:
Trend Confirmation: Use the angle trend lines to confirm the direction of the current trend. Steeper angles may indicate stronger trends.
Reversal Points: Monitor where price action intersects with the trend lines as potential reversal points or areas of support and resistance.
Strategic Entry/Exit Points: Identify strategic entry and exit points based on the proximity and angle of the trend lines relative to current price action.
This indicator is suited for traders looking for an edge in their technical analysis by incorporating geometric principles into the analysis of market trends. Whether you are day trading, swing trading, or analyzing long-term movements, the Tangent Angle Trend Lines indicator offers a fresh perspective on price dynamics.
Enjoy exploring the markets with this innovative tool and may it enhance your trading strategy!
Features:
Dynamic Angle Adjustment: The indicator automatically adjusts the angle of the trend lines according to the current price magnitude, ensuring relevance across various price levels and market conditions.
Period Customization: Users can set the period over which the highest and lowest prices are considered, allowing for flexibility in analysis over different time frames.
High and Low Price Labels: Clearly labeled highest and lowest prices within the selected period provide quick insights into critical levels.
Angle-Based Trend Lines: Utilizes the tangent of specified angles to project future price paths, helping to visualize potential trend continuations or reversals.
How It Works:
The indicator first calculates the highest and lowest prices over a user-defined period.
It then determines the angles for the trend lines based on the current price, ensuring the angles are dynamically adjusted to reflect recent market activity.
Trend lines are drawn from the highest and lowest points, projecting outwards at the calculated angles to indicate potential future price movements.
Usage:
Trend Confirmation: Use the angle trend lines to confirm the direction of the current trend. Steeper angles may indicate stronger trends.
Reversal Points: Monitor where price action intersects with the trend lines as potential reversal points or areas of support and resistance.
Strategic Entry/Exit Points: Identify strategic entry and exit points based on the proximity and angle of the trend lines relative to current price action.
This indicator is suited for traders looking for an edge in their technical analysis by incorporating geometric principles into the analysis of market trends. Whether you are day trading, swing trading, or analyzing long-term movements, the Tangent Angle Trend Lines indicator offers a fresh perspective on price dynamics.
Enjoy exploring the markets with this innovative tool and may it enhance your trading strategy!
Notes de version
Updated Features:User-Defined Angle Inputs: In addition to setting the period for analysis, users can now specify the angles for the high and low trend lines. This feature allows for a personalized analysis experience, accommodating a wide range of trading styles and preferences.
Dynamic Angle Adjustment: The high and low angles are directly input by the user, offering an innovative method to adjust the projection of trend lines according to the specific needs and insights of the trader.
Customizable Trend Analysis: With the ability to fine-tune the angles of the trend lines, traders can more accurately model and anticipate market movements, enhancing the decision-making process.
Notes de version
Updated Features:User-Defined Angle Inputs: In addition to setting the period for analysis, users can now specify the angles for the high and low trend lines. This feature allows for a personalized analysis experience, accommodating a wide range of trading styles and preferences.
Dynamic Angle Adjustment: The high and low angles are directly input by the user, offering an innovative method to adjust the projection of trend lines according to the specific needs and insights of the trader.
Customizable Trend Analysis: With the ability to fine-tune the angles of the trend lines, traders can more accurately model and anticipate market movements, enhancing the decision-making process.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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