• : Definedge Team

Below is a chart showing bullish and bearish 45-degree trendlines on TradePoint P&F chart.

See the below chart.


45 degree

Bullish Green line plotted on the chart is a 45-degree trend line plotted from the bottom of column of ‘O’. The angle of the line in the above chart may not look like 45-degree because of the gaps or space between the columns of 'X' and 'O'. The lines are at 45-degree after accounting for this gap.

Have a look at image below. A 45-degree trendline can be drawn from a square box. Upward line that bisects the box in two equal parts is the bullish line, and downward line that divides the box in two equal parts is a bearish line. 

45 degree

Below is a P&F chart plotted in the excel sheet showing the 45-degree trend line. Observe the angle and behaviour of lines.

45 degree

See the same chart in TradePoint. Observe the angle, you will find it same. 

45 degree

Bottom line is, 45-degree trendlines in P&F chart are mathematically correct inspite of gap between the columns because of some work in coding that we have ensured. The gap between the columns helps in better visual appearance and avoids vertical scrolling bar.


 
No updates on daily levels on Index in blog since last week.

: Sanket | : 26 October, 2020