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Trendlines with Breaks by LuxAlgo MT5

Indicator Name: Trendlines with Breaks [LuxAlgo]

Overview: The Trendlines with Breaks [LuxAlgo] indicator provides traders with pivot point-based trendlines that highlight real-time breakouts. This tool is highly customizable, allowing users to adjust the steepness of trendlines, choose different slope calculation methods, and receive alerts on trendline breakouts.

Key Features:

  • Pivot Point-Based Trendlines: The indicator automatically generates trendlines based on pivot points, providing a clear visual guide to support and resistance levels.
  • Real-Time Breakouts: Trendline breakouts are detected in real-time, offering immediate insights without the risk of backpainting. This ensures that traders are alerted to potential trading opportunities as they occur.
  • Customizable Slope and Steepness: Users can control the steepness of the trendlines and select from various slope calculation methods, which include:
    • ATR (Average True Range): Provides a consistent slope across trendlines, offering a stable reference for trend analysis.
    • Stdev (Standard Deviation): Utilizes standard deviation for slope calculation, potentially creating more varied trendline angles.
    • Linreg (Linear Regression): Uses the slope of a linear regression, which may result in significantly different trendline behaviors.
  • Non-Repainting Option: While trendlines may repaint by default, users can disable this feature in the settings to maintain static trendlines for analysis.
  • Integrated Alerts: The indicator includes built-in alerts for trendline breakouts, ensuring traders are notified of key market movements.
  • Buffer for EA: provides signal buffers for the expert advisor integration
  • Alert : Send push notification, email and alert

Designed For:

  • Technical Analysts: Ideal for traders who rely on trendline analysis to identify breakout points and infer future price movements.
  • Customization Enthusiasts: Suitable for traders who prefer to tailor indicators to their specific strategies, with a range of options for slope calculation and trendline steepness.


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Version 2.0 2024.08.26
alert feature added