Using a Trendline to Shift Price into a New Coordinate System

Summary

This brief indicator description explains a chart transformation that moves price data into a new coordinate system by shifting the price axis. To use it, the trader first creates a trendline object on the chart, then supplies that object’s name as the indicator input. The indicator therefore relies on a chart drawing as a reference for the transformation.

The description identifies the indicator’s author and notes an earlier implementation in MQL4, but does not explain the transformation’s formula, how the trendline determines the shift, or what analytical purpose the transformed series serves. It also provides no examples, performance evidence, or guidance on interpreting signals. The note is useful as a basic setup concept for a charting tool, but it is not enough to assess the method or treat it as a standalone trading strategy.

Key ideas

• The indicator shifts price data into a different coordinate system.
• A chart trendline serves as the reference object for the transformation.
• The user enters the trendline’s name as an indicator parameter.
• The description does not specify the calculation, interpretation, or trading use of the transformed prices.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.