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

General Assumptions:

  • Price bullish above the resistance line.
  • Price bearish below the support line.
  • Place stop-loss above/below the breakout bar

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Download the Automated Trend Line Metatrader 4 indicator.

EUR/USD Daily Chart Example

trendline-indicator-mt4

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