It is best used by the traders to plot the ongoing trends on an automatic basis, which aims the traders to give benefits or relief of drawing the trend line, manually on a daily basis. As these show future/resistance references, by this feature you can combine them with any of the trading tragedy, indicators, and modern tools electrical attached by the trading occurrences.
The automatic Trend line indicator is so fit for the initial traders to give benefits. Adding more, this is used for all different types of FOREX trading and suitable for any type of timeframe chart in between the MT4 ways or roots.
Automatic Trendline Indicator Overview:
After adding this to your handsets, terminal MT4 will appear as the picture shown under:
Automatic Trend Line Indicator Explanation:
This indicator alerts the trades about the recent trends of the market by combining their highs and lows in automatic ways. Redline shows the assistance in the picture and blue trend lines guide us towards the supporting levels. Bearish bars should be present below the right resistance levels to be closed. For staying too long you need to go by bullish bars and candles for the short entries. Somehow this is too tough to handle but through you get possible ease to tackle the further processes easily. This is for the ease of your own self to get familiar with the candlestick pattern. This indicator is best of all and can easily be adjustable to all FOREX trading strategies.
AUTOMATIC TREND LINE INDICATOR: TRADING RULES AND REGULATIONS:-
Above the support-trend line, the bullish bar is displayed.
When bullish bars are high then you need to buy triggers at that specific time.
Below the support area set stop losses.
Whenever price hits the upper trend line, get maximum profits/exit long.
A bearish bar forms right after the above trend line/resistance.
When bearish bars are low then you need to sell triggers within the break.
Above the resistance area, set stop loss.
Exit short/ take benefits whenever price hits the least trend line.