Automated Trend Line Metatrader 4 Indicator
The automated trend line indicator for Metatrader 4 draws two trend lines. The upper trend line is formed by connecting two highs (resistance line). The lower trend line is formed by connecting two lows (support line).
Trading signals: Go long if price breaks and closes above the upper trend line with target price: Upper Projection Line. Go short if price breaks and closes below the lower trend line with target price: Lower Projection Line
- Price bullish above the resistance line.
- Price bearish below the support line.
- Place stop-loss above/below the breakout bar
EUR/USD Daily Chart Example