Auto Trendline, Upper Descending Trend line detector with alert

This is a custom Tradingview indicator that automatically plots descending trend lines above price bars. It will alert when the price closes above the trend line.

The concept is straightforward: the trend line is formed by two adjacent peaks when the price is in a downtrend. It will save a lot of time for people (just like me) who uses trendline often.

By deploying this indicator, should the condition meet, you don't need to draw the trend lines by hand anymore. You can also consider it as a trend line reminder.

It's also very easy to use, just load it on chart and set your desired inputs.

Features:

Adjust the strength of the 2 peaks that form the trend line.
Set price difference between two peaks in two variables: amount or percentage.
Turn on/off the cross above alert.
It works on all symbols and all timeframes.
never paint

A detailed instruction will show you how to properly adjust each input.

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This update shorten the name label on the right side.

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This update shorten the name label on the right side.

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Add a new alert type when trendline is formed

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Updated the algorithm.

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Fixed a bug of alert, thanks Troels for pointing it out.