To start with try defining the trend line objectively.
How do u plot it?
Would you prefer to use Linear Reg Line or use swing high/low?
If u always use swing high/lows or close?
If you need to have min 3 points or only 2 will do?
How do you handle fat tails, so on so forth ...:thumb:
Before one can start coding one needs everything defined objectively in terms of available data (i.e in our case price points OHLC/V and time)
How do u plot it?
Would you prefer to use Linear Reg Line or use swing high/low?
If u always use swing high/lows or close?
If you need to have min 3 points or only 2 will do?
How do you handle fat tails, so on so forth ...:thumb:
Before one can start coding one needs everything defined objectively in terms of available data (i.e in our case price points OHLC/V and time)
I dont want to make all the mistakes there is... just to learn from it. Everyone can jot down their experience and we all can work on it.
I think a code to look back of the last "n" bars should do.... we plot the last 2 lows and highs and we can play with the number of bars till we find the ideal number.
Long tails will effect the rsi, so we do need to keep that into account.
RSI is leading indicator and hence should break the trend before the price.
lets hope someone develops a code first, and then we can work on the parameters....
Also we can plot the pivot lows and highs as that can act as a potential target.