Trend Line and Price Objective

9 Ağu

**Script Name: Trend Line and Price Objective with Historical Candles**

BTCUSD This Pine Script for TradingView, authored by Dshergill, plots a trend line, price objective, and historical candles on the chart. It includes several key features:

1. **Trend Line and Price Objective:**
- **Trend Line**: Draws a horizontal trend line at the highest high over a user-defined lookback period (`lookbackPeriod`). The trend line updates dynamically based on the highest high value.
- **Price Objective**: Calculates and displays a price objective if the closing price exceeds the highest high. The objective is calculated using a multiplier (`objectiveMultiplier`) and is labeled on the chart when a breakout occurs.

2. **Horizontal Lines:**
- Plots the highest high and lowest low over the lookback period as horizontal lines for easy reference.

3. **Historical Candles:**
- **Plot Candles**: Plots candles for the last 9 bars with conditional coloring based on whether the candle closed higher or lower than it opened. Green is used for bullish candles and red for bearish candles, with gray wicks.
- **Labels**: Adds labels below the wick of each candle to indicate the candle's position in the sequence (from 1 to 9).

**Features:**
- Dynamic trend line and price objective calculation.
- Clear visualization of the highest and lowest levels with horizontal lines.
- Historical candle visualization with color-coded styling and labeled positions.

This script helps traders visualize price trends and potential price objectives while providing a clear historical view of recent candles.

10 Ağu

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