Trend Following Indicators, Free Forex Indicators (MT4)

Automatic Trendline Indicator

Automatic Trendline Indicator plots the trendlines on an automatic basis with an aim to ease the hassle of drawing the trendlines manually every day. Since these trendlines represent future support/resistance references, you can add this indicator with any trading strategy, indicators, and technical tools for improving the trading outcomes.

Automatic Trendline Indicator is an ideal fit for newbie traders. Moreover, this indicator can be applied to trade all kinds for forex currency pairs and also fits with any sorts of timeframe charts within the MT4 terminal.

Automatic Trendline Indicator Overview

After the installation of the Indicator at the MT4 terminal, your chart will appear like the image below:

Automatic Trendline Indicator Overview

Automatic Trendline Indicator Explanation

Automatic Trendline Indicator Explanation

This Indicator plots the trendlines by connecting the highs and lows of the market on an automatic basis. The blue trendline below the bar represents the support levels and the red one as the resistance levels of the market.

For long entries, you must look for bullish pin-bars/candles at the support and for short entries, there should be bearish bars closed right below the resistance levels. This is a bit tricky here but once you get yourself familiar with the candlestick patterns, things will get much easier.

As a trendline indicator, this indicator is a good fit for any trend-following forex trading strategy.

Also Read: Exness Review

Automatic Trendline Indicator: Trading Rules

Buy Entry

Automatic Trendline Buy Entry
  • A bullish bar forms right above the support-trendline
  • Buy triggers at the break of the respective bullish bar’s high
  • Set stop loss below the support area
  • Exit long/take profit whenever price hits the upper trendline

Sell Entry

Automatic Trendline Sell Entry
  • A bearish bar forms right below the resistance/upper trendline
  • Sell triggers at the break of the respective bearish bar’s low
  • Set stop loss above the resistance area
  • Exit short/take profit whenever price hits the lower trendline

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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