Point and Figure Trend Line Indicator with Alerts
2024-10-07

My Pine Script indicator, "PnF Bullish and Bearish Trend Backgrounds," visualizes bullish and bearish trends using Point and Figure (PnF) methodology.

 Summary: 
 Input Parameters: 
Box Size: Determines the price movement sensitivity.
Bullish/Bearish Angles: Set angles for defining trend slopes.

 Trend Calculation: 
The script calculates slopes based on input angles and updates trendlines based on price actions.

 Alerts: 
It generates alerts when price breaks bullish or bearish trendlines, signaling potential buy/sell opportunities.

 Visualization: 
Trendlines are plotted in green (bullish) and red (bearish), with background colors highlighting trendline breaks.
Background: Green (uptrend) Red (Downtrend) Overlap or Black (Neutral)

 Usage: 
 Add to Chart:  Load the script on TradingView.
 Monitor Alerts:  Keep an eye on alerts for trendline breaks.
 Analyze Trends:  Use the visual cues to identify potential market movements.

I'll release a video explanation of this indictor soon.