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Automatic Trend Line Indicator for TradeStation

PZT AUTO TREND is tool that automatically draws trendlines on a price chart. This intuitive indicator helps traders spot areas of support and resistance that often lead to dynamic price breakouts. Many traders have found this indicator “magically” draws the exact trendline they would have drawn by hand – or seen in hindsight. PZT AUTO TREND provides a mechanical method of drawing trendlines on a price chart. Trendlines are an important tool for analyzing market activity and can provide a method of making trading decisions based on past levels of support and resistance. Manually drawing trendlines takes practice and can be somewhat subjective. This indicator draws trendlines connecting past swings in price using consistent logic. This indicator uses an intuitive method of calculating price swings based on “real” market action, not just highs and lows. The strength of the trendlines can be defined for individual markets with larger numbers representing more powerful price swings that will be used in the construction of the trendlines (the default setting is 60). Typically, values around 10 will draw frequent, weak trendlines while values up around 100 require stronger price swings. The size and the color of the trendlines can also be defined in the inputs.

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Settings The input variables for PZT AUTO TREND are:

Name Value Description

TLPower 60 The power of price swings for constructing trendlines. (10 draws frequent, weak trendlines while 100 requires stronger price swings)

BarsPast 20 Number of bars past the last swing to extend trendlines

DrawPreviousTSs false Displays history of all trendlines (useful for determining optimal TLPower setting)

TLSize 1 Width of the trendlines TLColor yellow Color of the trendlines

Tips for using PZT Indicators

• Double right click on any chart to enlarge it to full screen. Double right click a second time to return to the original workspace formatting.

• Single right click while the cursor is over an indicator and select “format” to quickly change the inputs for that indicator.

• Set pointer tracking to “workspace” [Drawing Menu – Pointer Tracking – Workspace] to allow the cursor to automatically go to the same spot on all charts within in a workspace.

• In each intraday workspace, charts may be “linked” to the quote screen by left clicking on the colored tab on the top right edge of the window and choosing a symbol link color. This allows all charts to change to the highlighted instrument in the quote window.

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