Auto Trend Lines Channels Metatrader 4 Forex Indicator

The Auto Trend Lines Channels MT4 indicator is an awesome trading tool built for trend line traders.

The indicator draws the most interesting trend lines automatically on any trading chart.

Trend lines are easy to trade, a break above the trend line is a signal to buy the currency pair, conversely, a break below the trend line is a signal to sell the currency pair.

Trend lines can be used as a standalone technical tool or can be combined with other technical indicators.

Interesting indicators to use together with trend lines include:

MACD, Slow Stochastic, RSI, Simple Moving Average, Exponential Moving Average, ADMI…

Trend lines are a useful tool for scalping, day trading, swing trading and position trading and can be applied to any timeframe.

Free Download

Download the auto-trend-lines-channels.mq4” MT4 indicator

Example Chart

The USD/JPY H4 chart below displays the Auto Trend Lines Channels forex indicator in action.

Basic Trading Signals

Signals from the Auto Trend Lines Channels MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Open a buy trade when price breaks above the trend line.

Sell Signal: Open a sell trade when price breaks below the trend line.

Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.

Download

Download the auto-trend-lines-channels.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (fibofan, fiboChannel, showZigZag) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Trend Lines

Installation

Copy and paste the auto-trend-lines-channels.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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