Trendline Indicator

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Trendline Indicator MT4
Trendline Indicator is the best dynamic trendline indicator for MT4 platforms. Helps in filtering potential price action patterns of forex instruments.

CATEGORIES: TREND, MT4, SIGNAL
Updated on: 31.10.2023

The Trendline represents an auto trend line indicator for the MT4 platform. It doesn’t draw straight trend lines. Instead, it uses Least Square Moving Average (LSMA) for finding dynamic trend lines of the price. Finding the correct market trend is the basic task of the Trendline indicator. Besides, it shows real-time dynamic support and resistance of the market. As a result, you can use it to identify potential pending entry levels within the right trend direction.

Moreover, the Trendline indicator helps in filtering price action patterns and assessing the success probability of the trade setup. For example, a price breakout or a bullish pin bar within the current trend direction carries a higher potential of making profits than going against the trend.

Furthermore, the Trendline indicator can be used to improve the performance of your Expert Advisor (EA). You may command your EA when to activate an entry once the price finds true support/resistance at the trendline area.

The Trendline is a non-repaint MA-based indicator and doesn’t support drawinfg a fractal-based trend line. Besides, forex instruments, this indicator is also perfect for Stock, Futures, and Cryptocurrency chart analysis.

How to trade within the trend using the Trendline MT4 indicator?

This indicator uses two lines for plotting the dynamic trendline. It changes its colour between blue and red to show the changes in the market trend directions. The indicator is blue when the trend is bullish and turns red when the trend switches to a bearish mode.