Program 22 | Configurable Three Line Break Indicator

In tutorial 23 I created an indicator that superimposed three line break lines over a regular chart. I developed this program further in program 3 (a three line break show me study), program 4 (a three line break pivot confluence program) and program 5 (a strategy based on the three line break principle).

Based on a request, Program 22 | Configurable Three Line Break Indicator, adds to tutorial 23 by the introduction of an input which, if set to TRUE, resets the line break every day. I explain more in the video below. I have also added the following additional capabilities:

  • An input which when set to true, turns off the 'lines' or boxes.
  • An input to control the thickness of the lines (or boxes).
  • An input to determine how many lines to include in the'break.' The default being three (this one was already included in tutorial 23)

In addition, the 'lines' are represented by rectangles, as opposed to the segmented rectangles that were used in the earlier program.

The program is a TradeStation EasyLanguage Indicator developed in TradeStation 9.0. The unprotected source code is included with the download which included both the indicator and a function which draws the upper and lower lines of the boxes..

To download the program for a nominal fee click here.

Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to false so program does not reset at the beginning of every day.
Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to FALSE so program does not reset at the beginning of every day.

I explain the functionality in more detail in the video, lower down the page.

Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to TRUE so program do reset at the beginning of every day.
Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to TRUE so program do reset at the beginning of every day.

Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to FALSE. The tutorial 23 program is applied to data 2.
Program 22 applied to 15 minute AAPL chart. The DailyReset input is set to FALSE. Compare with tutorial 23 program is applied to data 2.

To download the program for a nominal fee click here.

This TradeStation EasyLanguage indicator is demonstrated here:

Video Demonstration of Program 22

Inputs

Program 22 has four input settings as follows:

  • LinesOn( TRUE ), // Determines whether the lines or 'boxes' are drawn
  • NumBarsBreak( 3 ), // How many line breaks we are loking for
  • DailyReset( True ), // Restart the line break functionality every day
  • Thickness( 4 ); // Thickness of the trendline, 0 - 6.

To download the program for a nominal fee click here.

The program may be applied to intraday, daily weekly, and monthly charts.
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