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Automatic Trendline Formula for Metastock
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Tags:
metastock, trendline
This formula will draw a trend-line from the most recent bottom. If you want you can replace ‘L’ (low price) to something else like ‘C’ (the close price) and the value 10 can be changed to a different percent value. You will also need to set the line style to thick dots to make it look like the screenshot.
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Trough(1,L,10) + ((((Trough(1,L,10)-Trough(2,L,10)) / (TroughBars(2,L,10)-TroughBars(1,L,10))) * TroughBars(1,L,10)))
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