This Forex indicator is called the trend line indicator. It’s an advanced indicator that comes with break out levels and probable break-up and down break targets.
Trading Signals
Buy signal: Wait for a price break and close above the green horizontal price line.
Sell signal: Wait for price break and close below the red horizontal price line.
Probable Targets: T1 (calculated by the indicator)
Download
Download the Trendline.mq4 indicator
Configurable Indicator Options
AlertsOn, TrendLine, Colors, ProjectionLines,…
USD/JPY Hourly Chart Example
How to install the Advanced Trend Line custom indicator in Metatrader 4?
- Download the Trendline.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.