Every experienced trader knows that in forex trading you need to take into account the trend lines. But the construction of trend lines takes time, and in fact they still happens on the graphs and more ... Horror!
But there is a solution - a smart and reliable indicator of the trend lines True Trendline. Simply attach the indicator to the graph, and it will draw every possible trend lines for you. You just have to admire the result (as shown below) and apply it to your trading strategy.
Now you perhaps ask yourself: "Why me indicator of trend lines, if I know how to build them myself?" The answer is:
- indicator saves you time
- he does not get tired
- indicator may make a beeping sound when touched, or the breakdown of the trend line
Characteristics of True Trendline Indicator
- Platform: Metatrader4
- Currency pairs: Any currency pairs
- Trading Time: Around the clock
- Timeframe: Any
- Recommended broker: Alpari
How to build a trend line automatically and apply them in their strategies, refer to this video:
Settings of True_TL Indicator
In the True Trendline indicator has a number of settings that affect its performance:
Auto_Refresh - trendlines to automatically update when you change the timeframe and the closing of the current candle.
Normal_TL_Period - for how many last bars to look the line for the main timeframe.
Three_Touch - on/off coloring a different color of trend lines with 3 points of support.
M1/M5_Fast_Analysis - the possibility of accelerated analysis timeframes M1/M5 for owners of slower computers.
Mark_Highest_and_Lowest_TL - on/off bold dash of the uppermost and lowermost TL.
The remaining parameters are responsible for the color of the lines.
Settings of True_TL_Alert Indicator
Break_Alert_After_Close - on/off signal to the breakdown of the trend line only after the close of the candle
Break_Alert_Before_Close - on/off signal to the breakdown of the trend line, without waiting for the candle to close
Touch_Alert - on/off signal to touch the trend line
Touch_Distance - min distance to the TL in pips for the activation of the Touch_Alert
All_TrendLine_Alert - on/off tracking of all of trend lines on the graph
High_TL_Name/Low_TL_Name - if disabled All_TrendLine_Alert, then in these parameters must specify the name of the upper and lower of trend lines in order to signal indicator taking them into account
Email_Alert - on/off signal to the Email
PopUp_Alert - on/off pop-up window when the signal
Sound_Alert - on/off the sound when the signal
Sound_File - which audio file will be played (must be in the folder Sounds in the terminal)
In the archive True_TrandLine_Indicator.rar:
- TrueTL Alert V1.01.mq4
- TrueTL V1.01.mq4
- ![Script] Calculate Trendline.mq4
- ![Script] Hide Trendline
Free Download True TrendLine Indicator