Trendlines in studies

[eferg76]

Hi everyone,
I have been watching the EFS tutorial videos and I would like to create a study. Is it possible to add code to an RSI EFS that would draw a trendline in the RSI study?


Thanks,
Eric

[Doji3333]

Yes, it is possible. Drawing graphics and updating them in realtime (for triggers/signals) is something that requires an intermediate EFS level of programming (imho).

You can create as many trend lines as you like based on many conditions (divergence or others). You would be using arrays or objects to store the TL data (start, end, prices, conditions, status, whatever). You'll also need to understand basic efs functions - like using bar counters to allow you to create "dynamic TLs".

Then, depending on what you are trying to accomplish, you'll need to control the array data and drawing functions so that only active TLs are drawn. You may also have to develop some "clean-up" routines for your arrays if they get big. The easiest way to handle this is to remove "completed or invalid TLs" from the array.

I hope this helps? Sorry I can't develop it for you because it would take me about 6+ hours to create a working prototype.

[eferg76]

Thanks for the reply,

I am brand new to programming, but I feel like it is something that interests me. In your opinion, what would be the best approach for me to gain EFS experience that would be usefull to what I am trying to accomplish? I would like to create a signal based on RSI breaking a trendline and then create a strategy based on that signal. I would also like to backtest the strategy and be able to change stop loss, profit targets and incorporate trailing stops.

Eric

[Doji3333]

Why don't you try working with this efs to start with. If you go thru this efs and see how it is accomplishing it's tasks, then you should be able to figure out how to adjust it to your needs.

Otherwise, you might consider hiring a consultant to assist you.

http://forum.esignalcentral.com/showthread.php?s=&threadid=28478&highlight=TrendLines