Hi guys, a very novice question, when drawing 45 degree trendlines in trading view (holding shift) , and changing the chart view a bit, when drawing the second line, the 45 degree trendline is at different angle from the first one. How does this work so it keeps the same initial angle also when changing the chart look ? Thanks for any help
Charting software automatically adjusts the distance from highest to lowest values on the vertical y-axis according to the number of pips between the two extremes of price, highest and lowest, in the time period displayed. So in volatile times the distance might be 1000 pips: in calmer times it might only be 500 pips. It follows that the angle of a slope drawn between two points on the price track will vary, it will never stay at a constant 45 degrees or any other such angle, it will change as soon as you get a new bar or candlestick printed onto the chart.
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thank you so much
Yeah I’ve struggled with this also so appreciate the replies
Are you getting good result by this setup? May I know your time frame for this technical tool?
yupp, imo it works like a magic. it can be done on any timeline. for start i would suggest try with daily first, find one trendline in 45 degrees (best the main one of a given view) , copy that line how many times you need and simply drag the copies over the chart and you see how perfectly they fit to other trendlines/ supports / resitances. good luck