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Linebreak

HA,Renko, Linebreak,Kagi and Average all Charts Layouts in One This is an educational study, using the security functions provided by @PineCoders(big thanks to them for creating this ) in order to see the difference between multiple candle close plots using: Heikin Ashi Renko Linebreak Kagi Average of them all. Both the different securities and the average can be used as a source for different indicators like moving averages or oscillators getting with them some new and unique opportunities. If you have any questions, let me know !
Pine Script™ indicator
by exlux
8
[blackcat] L5 Linebreak MasterLevel: 5 Background Like many people in the Tradingview community, I have been studying how to apply Line Break Chart to backtesting and live trading for long. However, as we all know, the official Tradingview Line Break Chart is not recommended for backtesting because it will lead to unrealistic backtesting results. So, I thought about developing a Line Break Chart that can be used for backtesting and trading. This "L5 Linebreak Master" is one of them that I am introducing today. This indicator is based on OHLC data, because this kind of chart can be used for reliable backtesting and live trading in Tradingview. Therefore, the Linebreak Master in this script can actually coexist with the standard Japanese candlestick chart, but the trend reversal information it prompts is based on a principle similar to Line Break Chart. When the two can coexist and produce trading signals at the same time, this is really a very interesting invention. Function Linebreak charts were developed in Japan and popularized here by Steve Nisson in his book Beyond Candlesticks. The purpose of linebreak charts is to filter out market noise and give a clear indication of the current trend and trend reversals. As you may know, sometimes determining the current trend can be difficult due to market price movement that consolidates, and a trend reversal can be just as difficult. The green and red bars are called lines. Notice that whenever we have consecutive green lines, each line has a higher close than the previous one; when we have consecutive red lines each line has a lower close than the previous line. First of all, this Linebreak chart can coexist in the main chart with the Japanese candlestick chart. However, many parts may be overlapped with Japanese candle stick to see it clearly. My recommendation is that users can click "Settings" of main chart and turn off default candle chart. Secondly, this Linebreak chart can be used for backtesting strategies, because it is essentially OHLC data. And the absolute values of the price is based on the original OHLC data. The certainty of the trend reversal is relatively high. It can be compared with Japanese candlesticks on the timeline. Finally, this Linebreak chart is embedded with a Linebreak intrinsic trading strategy, which can be used to locate entry points through red and green labels. This strategy supports Tradingview alerts. You can get "LONG" or "SHORT" trading reminders by creating alerts. In order to obtain a clear market structure, Zen Stroke (Autolength ZigZag ), Zen Kiss (Special Moving Averages), Fibnacci Retracement Golden Levels, Unique Fibnacci Time windows and Dynamic Fibonicci support and resistance arrows can be checked to be superimposed and displayed on the main chart to facilitate understanding of the temporal and spatial position of prices in the market. A trading system based on linebreak charts must must have all entries and exits based on the close or open of a line. The two key values of a linebreak chart are the linebreak number and the underlying time interval. We can construct linebreak charts based on daily, weekly, 5 minute, hourly, any time frame. This allows us to adapt it for day trading or swing trading systems. I developped an inheret linebreak strategy with labels facilitate you to locate trend reversals. Indicator Set Linebreak Master Chart (新价图) Zen Stroke (Auto ZigZag , 自动画缠论笔) Zen Kiss Moving Averages (缠论均线) Fibnacci Retracement Golden Levels (半对数-黄金分割线) Unique Fibnacci Time windows (独创的斐波那契时间窗口) Dynamic Fibonicci support and resistance arrows (动态斐波那契支撑和阻力箭头) Inputs Source Type: Open, High, Low, Close, Hl2, Hlc3, Lx, Vwapc, Vwaplx, Vwaphl2 (Case Sensitive) Returns source input selection variant, default to "Close" if blank or typo. Open --> open High --> High Low --> Low Close --> Close Hl2 --> hl2 Hlc3 --> hlc3 Lx --> Lao Xu 1949 Median Price Vwapc --> vwap based on close Vwaplx --> vwap based on Lao Xu 1949 Median Price Vwaphl2 --> vwap based on hl2 Show Zen Stroke --> True as default Show Fib Space based on Semi-LOG --> True as default Zen Fractals Lookback Period --> 377 as default Key Signal Bars Green bars for up trend Red bars for down trend Labels Green labels for buy/long. Red labels for sell/short. Zen Stroke ( ZigZag ) Green line section for up stroke Red line section for down stroke Moving Averages Yellow for fast line Fuchsia for slow line Pros and Cons Suitable for discretionary trading and bots via alerts. However, only well selected trading pair and time frame can guarantee bot works. Intuitive and effective, the output signal is more reliable after multi-indicator resonance Remarks My fourth L5 indicator published Closed-source Invite-only How to get it? 500 Tradingview Coins Per Monthly Subscription 5000 Tradingview Coins Per Yearly Subscription
Pine Script™ indicator
by blackcat1402
93
Shindo Line BreakShindo Line Break Original indicator by Masao Shindo. Indicator of trend following. The line break chart of non-time series is corrected to time series. It is displayed together with Donchian Channels. The trend can be visually discerned by the background color based on the line break chart. The turning price of the trend is displayed. The timing of entry and exit is clear. If you would like to use the indicator, please contact the private chat on this account. 神藤ラインブレイク 神藤将男によるオリジナルのインジケーター トレンドフォローのインジケーター 非時系列の新値三段足を時系列に修正 ドンチャンチャネルを一緒に表示 新値三段足をもとにした背景色で視覚的にトレンドを判別することができる トレンドの転換価格を表示 エントリーやイグジットのタイミングが明確 インジケーターの使用を希望する方は、このアカウントのプライベートチャットにご連絡ください。
Pine Script™ indicator
by masao_shindo
23
Line breakI decided to help TradingView programmers and wrote code that converts a standard candles / bars to a line break chart. The built-in linebreak() and security() functions for constructing a Linear Break chart are bad, the chart is not built correctly, and does not correspond to the Line Breakout chart built into TradingView. I’m talking about simulating the Linear Break lines using the plotcandle() annotation, because these are the same candles without shadows. When you try to use the market simulator, when the gaps are turned on in the security() function, nothing is added to the chart, and when turned off, a completely different line break chart is drawn. Do not try to write strategies based on the built-in linebreak() function! The developers write in the manual: "Please note that you cannot plot Line Break boxes from Pine script exactly as they look. You can only get a series of numbers similar to OHLC values ​​for Line Break charts and use them in your algorithms." However, it is possible to build a “Linear Breakthrough” chart exactly like the “Linear Breakthrough" chart built into TradingView. Personally, I had enough Pine Script functionality. For a complete understanding of how such a graph is built, you can refer to Steve Nison's book “BEYOND JAPANESE CANDLES” and see the instructions for creating a “Three-Line Breakthrough” chart (the number of lines for a breakthrough is three): Rule 1: if today's price is above the base price (closing the first candle), draw a white line from the base price to the new maximum price (before closing). or Rule 2: if today's price is below the base price, draw a black line from the base price to the new low of prices (before closing). Rule 3: if today's price is no different from the base, do not draw any line. Rule 4: if today's price rises above the maximum of the first line, shift to the column to the right and draw a new white line from the previous maximum to the new maximum of prices. Rule 5: if the price is below the low of the first line, move one column to the right and draw a new black line down from the previous low to the new low of prices. Rule 6: if the price is kept in the range of the first line, nothing is applied to the chart. Rule 7: if the market reaches a new maximum, surpassing the maximum of previous lines, move to the column to the right and draw a new white line up to a new maximum. Rule 8: if today's price is below the low of previous lines (i.e. there is a new low), move to the right column and draw a new black line down to a new low. Rule 9: if the price is in the range of the first two lines, nothing is applied to the chart. Rule 10: if there is a series of three white lines, a new white line is drawn when a new maximum is reached (even if it is only one tick higher than the old one). Under the same conditions, for drawing a black reversal line, the price should fall below the minimum of the series of the last three white lines. Such a black line is called a black reversal line. It runs from the base of the highest white line to a new low of price. Rule 11: if there is a series of three black lines, a new black line is drawn when a new minimum is reached. Under the same conditions, for drawing a white line, called a white reversal line, the price must exceed the maximum of the previous three black lines. This line is drawn from the top of the lowest black line to a new high of the price. So, the script was not small, but the idea is extremely simple: if you need to break n lines to build a line, then among these n lines (or less, if this is the beginning of the chart), the maximum or minimum of closures and openings will be searched. If the current candles closed above or below these highs or lows, then a new line is added to the chart on the current candles (trend or breakout). According to my observations, this script draws a chart that is completely identical to the Line Breakout chart built into TradingView, but of course with gaps, as there is time in the candles / bar chart. I stuffed all the logic into a wrapper in the form of the get_linebreak() function, which returns a tuple of OHLC values. And these series with the help of the plotcandle() annotation can be converted to the "Linear Breakthrough" chart. I also want to note that with a large number of candles on the chart, outrages about the buffer size uncertainty are heard from the TradingView black box. Because of this, in the annotation study() set the value to the max_bars_back parameter. In general, use it (for example, to write strategies)!
Pine Script™ indicator
by AlanReys
9
Line break overlay multi_source v1.0This script emulate's the built in linbreak function's functionality. However, I added multiple sources to my script. With the built in function no matter what you pass as the argument for the source it will take close data. List of sources available are below: close open high low ohlc4 (high+low)/2 (open+close)/2 (high+low+close)/3 Number of Lines parameter is configurable from 2 to 6. Please let me know if you have any questions.
Pine Script™ indicator
by a.tesla2018
1