Trend line to down or downtrend, plotted on lower highs:

1. Scan through X (adjustable parameter input) previous bars and plot a trend line through 3 or more touches.

2. The touch points should be a range of pips from the peak of the high adjustable parameter input, to allow for a more or less precise trend line drawing.

3. Trend lines step: adjustable parameter input for how many trend lines to plot from the past.

4. Adjustable parameter input for trend stop at the last touch or plot it as a ray.

5. Sound a custom alarm no. 1 when the trend line is plotted, when the bar for the last touch (minimum 3 touch) is touching the trend line and a custom alarm no. 2 when the bar for the last touch is closing down. Sound custom alarm no. 2 on Z amount of bars down after the last touch (adjustable parameter input).

6. Trend lines colors, weight and type of the lines to be adjustable.

7. Yes/No adjustable parameter for MT4 alert with the message like:”Bounce from downtrend” when the trend line is confirmed by the 3rd touch.
8. Alert (Yes/No adjustable parameter input) only if the bar for the last touch closes below (for downtrend) and above (for uptrend) the Y period EMA (Y adjustable parameter input).

9. The indicator needs to be light on the processor to be able to use it on slow vps. 

Trend line to up (uptrend) to be plotted on higher lows and the same parameters like the downtrend line.

I uploaded a print screen for information, the numbers and circles not needed.

I want to use it on renko bars created by ovo.cz, on MT4.