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Details:

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Description:

########################### Intraday Trend Break System #####################

Author : Nishant Kulkarni (nishantndk@yahoo.com)
Intraday Trend Break System. This system is based on the double bottom and double top detection technique.
A line joining two tops when connected togather and another line joining bottom line is connected togather
and when both line extended forms a funnel and a break outside gives very strong break out.

It is recomended to have Heikin Ashi plot bellow main price plot as confirmation. Big heikin ashi candles confirm price movement.

Note: Use 15 Minute interval for better result.

Disclaimer - Trade with caution. Author does not take any responsibility. The system is to guide traders and does not guaranty any performance. However I am personally using this system and booking profit, hence contributing
this formula for community as give back.

Formula:

/**
*  ###########################           Intraday Trend Break System         
#####################
*
* Author : Nishant Kulkarni (nishantndk@yahoo.com)
*
* Intraday Trend Break System. This system is based on the double bottom and
double top detection technique.
* A line joining two tops when connected togather and another line joining
bottom line is connected togather 
* and when both line extended forms a funnel and a break outside gives very
strong break out. 
* 
*
* It is recomended to have Heikin Ashi plot bellow main price plot as
confirmation. Big heikin ashi candles confirm 
* price movement. 
* 
* Note: Use 15 Minute interval for better result. 
* 
* Disclaimer - Trade with caution. Author does not take any responsibility. The
system is to guide traders and does not 
*              guaranty any performance. However I am personally using this
system and booking profit, hence contributing 
*              this formula for community as give back. 
*
*/

_SECTION_BEGIN("INIT");

	SetChartOptions(0,chartShowArrows|chartShowDates);
	ScanLookBack = Param("Scan Lookback", 2, 1, 25 );
	fraction= IIf(StrRight(Name(),3) == "", 3.2, 3.2);

_SECTION_END();

_SECTION_BEGIN("Price");
	SetChartOptions(0,chartShowArrows|chartShowDates);
	_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g,
Close %g (%.1f%%) Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C,
SelectedValue( ROC( C, 1 )) ));	
	Plot( C, _DEFAULT_NAME(), colorBlack , styleNoTitle | ParamStyle("Style") |
GetPriceStyle() ); 
_SECTION_END();

_SECTION_BEGIN("Up Trend Line");
	
	UTValue1=LastValue(Trough(L,0.5,2)); 
	UTValue2=LastValue(Trough(L,0.5,1));
	UTBar1=BarCount - 1 - LastValue(TroughBars(L,0.5 ,2)); 
	UTBar2=BarCount - 1 - LastValue(TroughBars(L,0.5 ,1));  
	UpTrendLine = LineArray( UTBar1, UTValue1, UTBar2,UTValue2, 1 );
	UTLine = LineArray( UTBar1, UTValue1, UTBar2,UTValue2, 0 );
	Plot( UpTrendLine , _DEFAULT_NAME(), colorGreen,styleLine | styleNoTitle |
styleNoLabel); 
	Plot( UTLine , _DEFAULT_NAME(), colorGreen,styleLine | styleNoTitle |
styleNoLabel); 

_SECTION_END();


_SECTION_BEGIN("Down Trend Line");

	DTValue1=LastValue(Peak(H,0.5 ,2)); 
	DTValue2=LastValue(Peak(H,0.5 ,1)); 
	DTBar1=BarCount - 1 - LastValue(PeakBars(H,0.5 ,2)); 	
	DTBar2=BarCount - 1 - LastValue(PeakBars(H,0.5 ,1));  
	DownTrendLine = LineArray( DTBar1, DTValue1, DTBar2,DTValue2, 1 );
	DTLine = LineArray( DTBar1, DTValue1, DTBar2,DTValue2, 0 );

	Plot( DownTrendLine ,_DEFAULT_NAME(), colorRed,styleLine | styleNoTitle |
styleNoLabel); 
	Plot( DTLine ,_DEFAULT_NAME(), colorRed,styleLine | styleNoTitle |
styleNoLabel);
	
	PlotText("PV = " + WriteVal(DTValue2 ,fraction), LastValue(BarIndex())+2,
(DTValue2 ), colorRed);
	PlotText("TV = " + WriteVal(UTValue2,fraction), LastValue(BarIndex())+2,
UTValue2, colorGreen);
	PlotOHLC( UpTrendLine , UpTrendLine , DownTrendLine , DownTrendLine , "",
ColorBlend( colorGreen, colorLightYellow, 0.9 ), styleCloud | styleNoRescale);
	
	Plot(LineArray( DTBar2, DTValue2, BarCount,DTValue2, 0 ),"",colorRed);
	Plot(LineArray( UTBar2, UTValue2, BarCount,UTValue2, 0 ),"",colorGreen);

_SECTION_END();

_SECTION_BEGIN("Pivot");

	YH = TimeFrameGetPrice("H", inDaily, -1);		// yesterdays high
	YL = TimeFrameGetPrice("L", inDaily, -1);		//				low
	YC = TimeFrameGetPrice("C", inDaily, -1);		//				close
	TO = TimeFrameGetPrice("O", inDaily);			// current day open

	//Normal Pivot
	PP = (YH + YL + YC) / 3;
	R1 = (2 * PP) - YL;
	R2 = PP + (YH - YL);
	R3 = YH + 2*(PP-YL);
	S1 = (2 * PP) - YH;
	S2 = PP - (YH - YL);
	S3 = YL - 2*(YH - PP) ;
	
_SECTION_END();

_SECTION_BEGIN("Title");

Title = EncodeColor(colorBlack)+ Date() + "   Close = " + EncodeColor(colorRed)
+Close +
		EncodeColor(colorBlack) + "     Open = " + EncodeColor(colorBlack) + O + 
		EncodeColor(colorBlack) + "     High = " + EncodeColor(5) + H +
		EncodeColor(colorBlack) + "      Low = " + EncodeColor(colorRed) + L +
		EncodeColor(colorBlack) + "     Volume = " + EncodeColor(colorBlack) + V +
"\n\n"+
		EncodeColor(colorBlack) + "Pivot Point= " + EncodeColor(colorBlack) + PP +
		EncodeColor(colorBlack) + "     Day's Open= " + EncodeColor(colorBlack) + TO
+"\n\n"+
		EncodeColor(colorGreen) + "If days open is greater than Pivot Point, market
is in uptrend and \n"+EncodeColor(colorRed)+"if days Open is less than Pivot
Point, market is in downtrend" +"\n\n"+
		EncodeColor(colorRed) + "R1= " + EncodeColor(colorBlack) + R1 +
		EncodeColor(colorRed) + "  R2= " + EncodeColor(colorBlack) + R2 +
		EncodeColor(colorRed) + "  R3= " + EncodeColor(colorBlack) + R3 +"\n"+
		EncodeColor(colorGreen) + "S1= " + EncodeColor(colorBlack) + S1 +
		EncodeColor(colorGreen) + "  S2= " + EncodeColor(colorBlack) + S2 +
		EncodeColor(colorGreen) + "  S3= " + EncodeColor(colorBlack) + S3 +"\n"+
		EncodeColor( colorBlack) +"____  _____  _______  _______  _______"+"\n";
 
_SECTION_END();

_SECTION_BEGIN("Target"); 

	CBuy = Cross(C,DownTrendLine);
	CSell = Cross(UpTrendLine ,C);

	baratbuy = ValueWhen(CBuy ,BarIndex()) ;
	baratsell = ValueWhen(CSell ,BarIndex()) ;

	PlotShapes(shapeUpTriangle* CBuy ,colorBlue,O,L);
	PlotShapes(shapeDownTriangle * CSell ,colorRed,O,H);


_SECTION_END();

_SECTION_BEGIN("Auto");


	Buy  = ( CBuy ) AND  ( (BarCount - baratbuy )<=ScanLookBack ); 
	Sell = ( CSell ) AND  ( (BarCount - baratsell )<=ScanLookBack  ) ;

	price = C[BarCount-1];

	AlertIf(Buy,"","Buy @"+C+"  Price @ Trigger="+price,1);
	AlertIf(Sell,"","Sell @"+C+"  Price @ Trigger="+price,2);

	Filter =  Buy OR Sell ;

	Var = WriteIf(Buy,"BUY",WriteIf(Sell,"SELL",""));

	AddTextColumn( Var , "Buy/Sell", 1.2 , colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));	
	AddColumn(price ,"Price",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	AddColumn(C ,"Price @ Trigger",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));

	stoploss = IIf(Buy, (price  * (1-0.01)) , IIf(Sell, (price  * (1+0.01)),0));
	target1per = IIf(Buy, (price  * (1+0.01)) , IIf(Sell, (price  *
(1-0.01)),0));
	target15per = IIf(Buy, (price  * (1+0.015)) , IIf(Sell, (price *
(1-0.015)),0));
	target2per = IIf(Buy, (price  * (1+0.02)) , IIf(Sell, (price  *
(1-0.02)),0));
	
	AddColumn(stoploss ,"Stop Loss",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	AddColumn(target1per ,"1% Target",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	AddColumn(target15per ,"1.5% Target",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	AddColumn(target2per ,"2% Target",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	AddColumn(V ,"Volume",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));
	
	bardiff = BarCount - IIf(Buy,baratbuy,IIf(Sell,baratsell,0));
	AddColumn(bardiff  ,"Bar Diff",1.2,colorBlack, IIf( Buy, colorLime,
IIf(Sell,colorOrange,colorWhite) ));


_SECTION_END();

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