Down Pivot Trending Line
Integrating the Amibroker data feed with trending lines that align with downward pivots provides a comprehensive view of bearish market movements. An Amibroker AFL designed around this amalgamation assists traders in spotting and confirming bearish trends for refined trade executions.
/_SECTION_BEGIN("Fibo for all bars"); TimeFrameSet( in15Minute*2 ); DH=Ref(H,-1); DL=Ref(L,-1); DC=Ref(C,-1); pd = ( DH+ DL + DC )/3; sd1 = (2*pd)-DH; sd2 = pd -(DH - DL); sd3 = Sd1 - (DH-DL); rd1 = (2*pd)-DL; rd2 = pd +(DH -DL); rd3 = rd1 +(DH-DL); Plot (pd,"Pivot",colorBlue,styleThick+styleDots); Plot (rd1," R1 ",35,8+16); Plot (rd2," R2 ",35,8+16); Plot (rd3," R3 ",35,8+16); Plot (sd1," S1 ",4,8+16); Plot (Sd2," S2 ",4,8+16); Plot (Sd3," S3 ",4,8+16); style = IIf(ParamList("Chart style", "styleCandle|styleBar")=="styleCandle",64,128+4); Plot (C,Date ()+" close",colorWhite,style); //ENABLE THIS TO HAVE CANDLES AS WELL _SECTION_END();