Features
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Two Extremums (Type 1): Draws trend lines based on two extremum points (highs/lows) identified within user-defined bar ranges.
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Extremum and Delta (Type 2): Combines an extremum point with a minimal delta point for more dynamic trend lines.
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Customizable parameters for line width, colors, and extremum side ranges.
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Lines are drawn as support (pink) and resistance (blue) with selectable and adjustable properties.
Input Parameters
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Line Type: Choose between EXM_EXM (Two Extremums) or EXM_DELTA (Extremum and Delta).
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Left Extremum Side: Number of bars to check for the left extremum (default: 20).
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Right Extremum Side: Number of bars for the right extremum in Type 1 (default: 3).
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Offset from Current Bar: Bar offset for Type 2 calculations (default: 3).
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Account for Bar Before Extremum: Include the bar before the extremum in Type 2 (default: false).
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Lines Width: Set the thickness of trend lines (default: 1).
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Support/Resistance Line Color: Customize colors (default: pink for support, blue for resistance).
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Instance Name: Unique identifier for the indicator instance (default: "AutoTrendLines1").
How to Use
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Add to Chart: Attach the indicator to any MetaTrader 5 chart.
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Configure Settings: Adjust input parameters to suit your trading strategy.
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Interpret Lines:
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Support Line: Pink line indicating potential price support levels.
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Resistance Line: Blue line showing potential price resistance levels.
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Monitor Updates: Trend lines update automatically with each new bar.
Notes
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Requires sufficient historical data (minimum bars calculated based on input settings).
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The current unformed bar is excluded from calculations.
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Extremum points are bars with lower lows or higher highs compared to surrounding bars
Feedback
If you have suggestions or encounter issues, please leave a comment on the MQL5 CodeBase page or contact me through the MQL5 community. Your feedback is valuable for improving this tool!
Contact me: MQL5 Link
Happy trading!
