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WiseTrader Toolbox
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2 - Point Plot for Metastock
Coding example of 2-point, x/y line plot – useful for creating automatic chart trendlines
Created by: Jose Silva of MetastockTools.com
Indicator / Formula
{ 2-point plot, coding example v3.0 Trendline choice 1: last High/Low in month. Trendline choice 2: lows at July/Dec 2006 Copyright © 2003-2007 Jose Silva http://www.metastocktools.com } { User inputs } extend:=Input("Extend trendline? [1]Yes, [0]No",0,1,1); plot:=Input("choose event [1-2] trend",1,2,1); choose:=Input("plot: [1]Trendline, [2]Event points",1,2,1); { Define events } time1:=C=HHV(C,21); time2:=C=LLV(C,21); time2:=time2 AND time2<>time1; { Alternative events } dateA:=Year()=2006 AND Month()=7; dateA:=If(LastValue(Cum(dateA))=0, Year()=LastValue(Year())-1 AND Month()=LastValue(Month()),dateA); LoValA:=Lowest(ValueWhen(1,dateA,L)); timeA:=dateA AND L=LastValue(LoValA); dateB:=Year()=2006 AND Month()=12; dateB:=If(LastValue(Cum(dateB))=0, Year()=LastValue(Year()) AND Month()=LastValue(Month()),dateB); LoValB:=Lowest(ValueWhen(1,dateB,L)); timeB:=dateB AND L=LastValue(LoValB); timeB:=timeB AND timeB<>timeA; { Choose events } time1:=If(plot=1,time1,timeA); time2:=If(plot=1,time2,timeB); { Restrict to last events } time1:=time1 AND Cum(time1)=LastValue(Cum(time1)); time2:=time2 AND Cum(time2)=LastValue(Cum(time2)); { Sort events } t1pds:=LastValue(BarsSince(time1)); t2pds:=LastValue(BarsSince(time2)); x1:=If(t1pds>=t2pds,time1,time2); x2:=If(t1pds>=t2pds,time2,time1); y1:=If(plot=1,C,L); y2:=If(plot=1,C,L); { Fix coordinates } y1:=ValueWhen(1,x1,y1); y2:=LastValue(ValueWhen(1,x2,y2)); b1:=LastValue(BarsSince(x1)); b2:=LastValue(BarsSince(x2)); { Trendline definition/restriction/extension } plot:= y1+BarsSince(x1)*(y2-y1)/Max(b1-b2,.000001); b2:=LastValue(If(extend,0,b2)); plot:=Ref(Ref(plot,-b2),b2); { Plot trendline on price chart } If(choose=1,plot,time1+time2)
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