Trendlines with Breaks

The Trendlines with Breaks indicator plots trendlines based on pivot points and marks breakout events when price crosses them. Users can adjust the the steepness of the trendlines as well as their slope calculation method.

Breakouts are detected in real time and do not repaint. However, the trendlines themselves may update with new data unless the user disables repainting in the settings.

This indicator supports various valid approaches to drawing trendlines, allowing users to detect breakouts and potentially anticipate future price action.

The way slope is calculated has a strong influence on how the trendlines behave. By default, the indicator uses the Average True Range (ATR), which tends to produce trendlines with more consistent angles. Alternative methods can result in trendlines with more variation in their steepness.

The Stdev option calculates slope using standard deviation, while Linreg derives the slope from linear regression analysis.