Advance Cycle Line Indicator

[TraderDesk]

In Empty4 we have a function called "Cycle Lines". This function allows a user to draw a vertical line and from there it creates equidistant lines on the chart. Now what I would like is the ability to have vertical lines drawn in-between the main verical lines that the cycle line draws. It can be an arbritary number that is specified by the user. An example: On the 4 hour chart using time cycle I draw two vertical lines that are seperated by twenty bars. I would then have by default or by specifying 3 equidistant vertical lines to be created between thos two time cycle lines. I would then have 20 bars broken up by these subset vertical lines into four blocks of five bars each. I have attached a chart to give an example of what I mean(main cycle line.gif). So instead of having to do all of this manually(Creating Main cycle lines+subset cycle lines+number of bars) it is done all at one go.

Also it would be great if the indicator can calculate automatically how many bars there are between each subset line and the total between each Main Cycle lines without having to manually calculating the bars.

I am hoping someone can create this indicator as my programming skills are not there yet. Thanks...

[TraderDesk]

I thought I would bring this up again to see if anyone can or has done this on Empty4. Or if someone can point me to a good programmer who can code this. Thanks...

Auto Cycle Line indicator:

Cycle line tool allows you to draw vertical lines by clicking with the left mouse button on a time bar for the initial vertical line and still holding the left mouse depress click on a second time frame to place the second vertical line. Now the distance between the two will be replicated either forward or backwards on the chart with vertical lines.

What I want is the above cycle line tool to be able to do this automatically on any timeframe chart based on several parameters. For example, on a 15 minute chart I would set a parameter based on bars that would say -

using the last 50 bars on the 15 minute chart place the first vertical bar on the initial market cycle high price and the second vertical line on the next cycle high price.

example cycle line.gif

Now there will be parameters to be set like:

1. How many bars to look for cycle highs or cycle lows.
2. Cycle high or low to place lines.
3. How many bars needed to retrace from the high/low before considering it to be a cycle top/bottom.
4. How many cycles need to elapse before creating new initial cycle lines.

I would also like to have an output put on the chart where it shows:

1. Amount of pips of the initial cycle high to the low.
2. How many bars from first vertical line to the second line... ie. top of first cycle to top of second cycle or bottom of first cycle to bottom of second cycle.

Visualization: I would like to be able to control the properties of the vertical lines like color, thickness of the initial line

- Initial line: color, thickness
- Second line: color, thickness
- All other lines: color, thickness

Let me give a simple example on how I use cycle line tool manually. I am on the 15 minute chart where I look for the last two cycle highs. I use the cycle line tool to place the two initial vertical lines on those two last cycle highs. The tool now creates more vertical lines at the same bar length forward or backwards in time. In this case I am looking at the forward lines. Now after a period of time passes the chart created a new cycle high. Instead of me manual creating the two vertical lines off of the new cycle high I would like to have the cycle line tool automatically do it for me.

How difficult would this be to automate?

Thanks....

[Raj4x]

I 100% support that request (second post) regarding the "Auto Cycle Lines" indicator.

It would be very useful. Cycle lines rule in manual trading, esp. M1 time frame. I'd love to use an 'automated' version.