QG-PerfectTrendLine

This script is a conversion from the metatrader perfect trend line indicator. The multi-timeframe setup shows smooth trends.

Alerts on cross of the fast and slow trendline can be setup in alerts section.

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © QuantG

//@version=5
indicator(title="QG_PerfectTrendLine",overlay=true, timeframe="")

//PERFECT TRENDLINE
// --- settings
SlowLength         = input(9, "TrendLine Slow Length") // Slow length
FastLength         = input(5, "TrendLine Fast Length") // Fast length
// --- end of settings

fasthigh = ta.highest(high, SlowLength)
fastlow  = ta.lowest(low, SlowLength)
slowhigh = ta.highest(high, FastLength)
slowlow  = ta.lowest(low, FastLength)

thighs = 0.0
tlows = 0.0

if high<slowhigh
    thighs:=slowhigh 
else 
    thighs:=high

if low>slowlow
    tlows:=slowlow
else
    tlows:=low

thighf=0.0
tlowf=0.0

if high<fasthigh
    thighf:=fasthigh
else
    thighf:=high

if low>fastlow 
    tlowf:=fastlow
else
    tlowf:=low

slowln=0.0
fastln=0.0
if close>slowln[1]
    slowln:=tlows
else
    slowln:=thighs

if close>fastln[1]
    fastln:=tlowf
else
    fastln:=thighf


trend=-1
if close<slowln and close<fastln
    trend:=1

if close>slowln and close>fastln
    trend:=0



pf = plot(fastln, color=color.new(color.red,10))
ps = plot(slowln, color=color.new(color.green,10))

_color = color.white
_color :=  fastln>slowln ?color.new(color.red,70) : fastln<slowln ? color.new(color.green,70) : _color[1]

fill(pf,ps, color = _color)

Long=fastln[1]<slowln[1] and fastln[0]>slowln[0]
Short=fastln[1]>slowln[1] and fastln[0]<slowln[0]

alertcondition(Long,title="Long Signal",message="Enter Long")
alertcondition(Short,title="Short Signal",message="Enter Short")