Trendline Trading: Download Free Trendline MT4 Indicator
What are Trend Lines?
Investopedia defines Trend Line as a line that is drawn over pivot highs or under pivot lows to show the prevailing direction of price. Trendlines are a visual representation of support and resistance in any time frame.
Trendlines are used to show direction and speed of price. Trendlines also describe patterns during periods of price contraction.
Trend lines show three distinct but related pieces of information about their market. They show the direction of the current price movement, the strength (or more precisely the speed) of the current price movement, and the future support and resistance of the current price movement. These pieces of information can be used independently of each other, or they can be used together as part of a larger trading system.
Drawing Trend Lines And Trendline Trading Concept
Trend lines are straight lines that are drawn on graphical price or indicator charts. Upward trend lines are drawn on an upward diagonal from left to right (/), downward trend lines are drawn on a downward diagonal from left to right (\), and sideways trend lines are drawn horizontally from left to right (-). Check the image below to see how our Trend Blaster Trading System drwas automatic trend lines in Amibroker. Click on the image for a larger view. You can also draw manual trend lines in any charting softwares like Amibroker or Metatrader.
We are sharing a nice trendline trading indicator indicator for Metatrader (MT4) platform. This indicator not only draws automatic trend lines on the charts, but also it gives automated target projections and audio alerts in case of a trend line break. Check the image below for more details. Click on the image for a larger view.
You can freely download and use the De Mark trendline trading mt4 indicator by clicking the button below. You need an account in Facebook to download this file.
And now you will instantly see this automated trend lines for trendline trading in real time on Metatrader (MT4). In case of trend line break you will also see automated target projections and audio alerts. You may distribute this formula to your friends, but do not forget them to refer them to our site.
Suggested reading: Trading the Line: How to Use Trendlines to Spot Reversals and Ride Trends. If you like the post share it with the world using the social share icons below.