Automatic Trendlines Indicator for ThinkOrSwim TOS

Automatic Trendlines Indicator for ThinkOrSwim TOS

This ThinkScript for ThinkorSwim will plot automatic trend lines for the prevailing trend based upon calculating second-order pivots. This uses the top-down, bottom-up approach to trend lines. That is to say, it connects lower-highs for down trends and higher-lows for up trends.
Basic Market Structure, Automatic Trend Lines and Better Range Finder have been extremely helpful in my trading. I would absolutely recommend Fun with ThinkScript to anyone looking for ThinkorSwim indicators.
Augustine
This works on any time-frame and will plot the appropriate trend. Breakouts / breakdowns are indicated with an arrow. An audible alert may, optionally, be triggered as well.
The trend lines may be drawn from the candle wicks or the candle bodies
The trend line may be extended to the left by a user-definable amount
Combine the auto-trend line and basic market structure with auto-fibonacci stripts (available as a separate purchase) for a powerful combination

Archive: https://archive.ph/wip/HnEhE

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