Automatic Trend Lines Metatrader 4 Forex Indicator

The Automatic Trend Lines MT4 indicator draws the most interesting support and resistance trend lines on the Metatrader 4 chart for any currency pair and time frame.

Trading trend lines isn’t difficult to understand.

  • Go long above the upper red resistance trend line
  • Go short below the lower magenta support trend line

For best chance on a successful trade, trade broken trend lines in the direction of the overall trend and avoid to trade against the trend (often it’s a fake breakout).

Overall trend up? Trade a break of the red upper resistance trend line and ignore the magenta lower support trend line.

Overall trend down? Trade a break of the magenta lower support trend line and ignore the red upper resistance trend line.

Free Download

Download the automatic-trendlines.mq4” MT4 indicator

Example Chart

The EUR/USD Daily chart below displays the Automatic Trend Lines Metatrader 4 Forex indicator in action.

Basic Trading Signals

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

Buy Signal: Open buy trade when price crosses and closes above the upper trend line (resistance). The overall currency trend must be up.

Sell Signal: Open sell trade when price crosses and closes below the lower trend line (support). The overall currency trend must be down.

Trade Exit: Use your own method of trade exit.

Download

Download the automatic-trendlines.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (nPeriod, Limit) 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 automatic-trendlines.mq4 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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