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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 ); 

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

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