Reliable Trendline
Reliable Trendline
07 Mar 2014, 09:20
A reliable Trendline drawing tool that won't shift the trendlines when we switch the chart from one time frame to another.
Currently, if I draw a trendline on a daily/weekly chart that goes back a year or two then switch to a lower time frame chart (e.g. 1 hourly), the trendline shifts significantly. Please fix this problem to make cTrader a reliable tool.
Replies
GunArm
27 Mar 2015, 23:33
( Updated at: 27 Mar 2015, 23:41 )
This isn't the trendlines fault.
When you anchor a line to a wick on a daily candle, the tip of that wick represents a 24 hour period. When you drill down to an hourly chart, you now have 24 candles where that one wick was. How can it know with hourly precision where to anchor a line which you placed with only Daily precision?
It can put it somwhere in the middle of the day... Or it could look for the hourly candle that made the daily high wick and anchor to that automatically, but then what if you went to a 15 minute chart? It could, whenever you anchor a line to a wick on a chart higher than 1minute, try to find the lowest timeframe information (tick) which set the wick of the higher timeframe, but what if there are many ticks that touched that exact level? There is no answer to how to handle this automatically.
It is impossible for the charting software to add precision which wasn't there when you anchored the line on a higher timeframe. It is not because the trendline is "unreliable"
@GunArm
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