While being one of the most profitable technical analysis tools, trend lines are least used due to subjectivity and work involved in drawing. Trend Toolbox is a sophisticated MetaStock plug-in module for working with automatic trend lines not only on price data but also on any indicator or data array. It's fast trend detection algorithm helps you find tradeable breakout candidates in real time as well as end of day with the ability to define trend line minimum touching points and tolerance. Besides automatic trend line drawing, Trend Toolbox can also be used for curve fitting & data smoothing using Polynomial function. Trend Toolbox has three functions: Line, Signals and Polynomial.

Line function can use Open, High, Low, Close, Volume data arrays, predefined/custom indicators or any other data array passed to it for drawing automatic trend lines, eliminating any subjective time cosuming task involved in drawing manual trend lines. If no suitable trend line can not be drawn using given parameters, nothing will be drawn. Line function draws automatic trend lines on charts as an indicator or can be used in other MetaStock tools such as The Explorer to find objective trading opportunities.

You can define a minimum number of touching points to get more solid trend lines as well as allowing a certain level of tolerance not to miss peaks or troughs that not exactly on the trend line but, a little bit off.

Here is a screenshot of Line function at work.

Signals function can be used to check past performance of your trading system. It returns 1 if downtrend broken and close price is higher than previous one. Similarly, it returns -1 if uptrend broken and close price is lower than the previous one. Using it, you can further fine tune your trading system.

Here is a screenshot of Signals function at work.

Polynomial function can draw up to10th order polynomial curves as well as linear regression and parabolic regression trend lines. It can be used for data fitting, which is mathematical analysis of a data set in order to analyze trends in the data values by finding a mathematical model that fits data set. This involves linear or non-linear regression analysis of these data points, in order to define a set of parameter values that best characterize the relationship between the data points and an underlying theoretical model.

You can use 1st order polynomial to get linear regression slope : y(x) = ax + b screenshot

Parabolic regression can be obtained with 2nd degree polynomial : y(x) = a x² + b x + c screenshot

Nth order polynomial can be interpreted as: y(x) = c0*x⁰ + c1*x¹ + c2*x² + c3*x³ + ... cn*xⁿ and can be used for smoothing data or other purposes. You can access a screenshot here and another one here.

You can download the limited shareware version at download page.

SAMPLE CODES:

The sample formulas below are courtesy of Jose Silva from www.metastocktools.com.

Up/Down Trend Lines:

{ExtFml("Trend.Line",  DataArray, MinTouchPoints, %Tolerance, Type)}

{ User inputs }
MinT:=Input("Minimum Touch Points",1,100,3);
PerT:=Input("Penetrating Tolerance %",0,100,2);

{ Trendlines }
Up:=ExtFml("Trend.Line",C,MinT,PerT,U);
Down:=ExtFml("Trend.Line",C,MinT,PerT,D);

{ Plot on price chart }
Up;Down

Trendline breakout signals:

{ExtFml("Trend.Signals",   DataArray, MinTouchPoints, %Tolerance) }

{ User inputs }
MinT:=Input("Minimum Touch Points",1,100,3);
PerT:=Input("Penetrating Tolerance %",0,100,2);
plot:=Input("Signals:  [1]Clean,  [2]All,  [3]Trade binary",1,3,1);
delay:=Input("Entry and Exit delay",0,5,0);

{ All trendline breakout signals }
all:=ExtFml("Trend.Signals",C,MinT,PerT);

{ Entry/Exit signals }
entry:=all=1;
exit:=all=-1;

{ Clean signals }
init:=Cum(IsDefined(entry+exit))=1;
bin:=ValueWhen(1,entry-exit<>0 OR init,entry);
long:=bin AND (Alert(bin=0,2) OR init);
short:=bin=0 AND (Alert(bin,2) OR init);
signals:=long-short;

{ Plot signals in own window }
Ref(If(plot=1,signals,
 If(plot=2,all,bin)),-delay)

Polynomials:

{ ExtFml("Trend.Polynomial",  DataArray, Periods, Nth Order) }

{ User inputs }
Nth:=Input("Nth order Polynomial",1,10,3);
pds:=Input("Periods",10,2600,50);

{ Plot on price chart }
ExtFml("Trend.Polynomial",C,pds,Nth)

USAGE NOTES:

Important : While plotting trend lines, be sure that you have selected "Merge with Scale on Right" option, otherwise trend line will not be attached to price plot.

REQUIREMENTS:

• MetaStock 7.0 (Pro or EOD) or higher version.
• PC with enough configuration to run your MetaStock program.

PRICE&ORDERING INFO:

Trend Toolbox full version costs 295 $. You can order via Shareit. You will be given a link for downloading, immediately after you have made the payment.

To place your order click the Shareit logo below or go to www.shareit.com

 and search for program number 300050072.

* Shareit has different ordering options including secure on-line order for your convenience. You can also place your order in 6 different languages (English, German, Portuguese, Spanish, Italian and French) simply by selecting your language from the drop-down menu on top-right of the secure order page.