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Folding meter 4 Trend Lines


Folding rule of 4 trend lines

The indicator has been created based on the "Folding rule" trading strategy. It shows four pairs of inclined resistance and support lines.

These lines are plotted based on the nearest High and Low of the ZigZag technical indicator with four given input parameters.

The indicator draws dots above and below the price extremums that have been used for plotting the trend lines.

The indicator of trend lines facilitates the plotting of trend lines, channels and technical patterns (such as "Triangle", "Wedge" and the like), which are formed by the price of the currency pair. Traders actively look for these formations on the charts and use them when working in the currency and stock markets to determine the movement exhaustion, to search for trade signals.

This indicator allows obtaining a variety of trading signals:

  • Global trend and intraday trend
  • Technical figures: "Channel", "Diverging, Converging Wedge", "Triangles";
  • Determining the price Highs and Lows using the built-in "Zigzag" lines;
  • Visualization of the price acceleration;
Note: the "Folding rule" strategy works well when all four pairs of trend lines are used.

Brief description of the "Folding rule" strategy

Folding rule is a unique pattern created from trend lines. To understand the pattern, it is necessary to notice the movement of the price in three or more phases, namely the origination of the trend, its movement and active acceleration. After passing all three or four phases, the trend usually starts depleting, which leads to a new price reversal. Naturally, you will be unable to immediately determine if a new trend has formed or it is merely a correction. However, making a profit on a new reversal movement is possible in case a support trend line is broken during (red by default) during an ascending movement, or in case a resistance trend line (blue by default) is broken during a descending price movement.

Note: if you are not familiar with the "Folding rule" strategy, you can find more information about it on the Internet or printed literature on trading.

The indicator provides the ability to:

  • change the colors and thickness of trend lines;
  • change the color of the icons indicating the highs or lows used for plotting the lines;
  • change the appearance of the icons of highs and lows;
  • change the color of the ZigZag plot lines;
  • disable all objects of the indicator of the chart;

Default inputs of the indicator

  • Show Lines 1;2;3;4 - enable/disable trend lines of support and resistance. Default: true; false; false; false.
  • ExtDepth1, ExtDeviation1, ExtBackstep1 - ZigZag plot parameters for the first trend lines. Default: 12,5,3.
  • ExtDepth2, ExtDeviation2, ExtBackstep2 - ZigZag plot parameters for the second trend lines. Default: 24,10,6.
  • ExtDepth3, ExtDeviation3, ExtBackstep3 - ZigZag plot parameters for the third trend lines. Default: 48,20,12.
  • ExtDepth4, ExtDeviation4, ExtBackstep4 - ZigZag plot parameters for the fourth trend lines. Default: 12,5,3.
  • Color support trend line 1;2;3;4 - colors of the resistance trend lines. Default: Blue.
  • Color resistance trend line 1;2;3;4 - colors of the support trend lines Default: Red.
  • Widch trend line 1;2;3;4 - widths of the trend lines. Default: 1,2,3,4.
  • Show dot building all levels - enable/disable icons indicating the highs and lows for plotting the trend lines. Default: true (enabled).
  • Сode icon dot - code of plot icons. Default: 159.
  • Widch Dot icon - width of icons. Default: 3.
  • Color Dot icon - color of icons. Default: Blue.
  • The indent of the dot - offset of the icons from the price extremums used for plotting the trend lines. Default: 20.
  • Show technical zigzag - show/hide the lines of the ZigZag technical indicator. Default: show.
  • Color ZigZag - ZigZag color. Default: Blue.
  • Width ZigZag - width of the ZigZag lines. Default: 1.

A few tips for traders

  1. Before use, it is recommended to study the "Folding rule" strategy and technical figures.
  2. Wait for confirmation (candle close above or below the horizontal and inclined lines, levels).
Bewertungen 2
mxp1 2018.06.15 11:30 

Purchased after thorough testing. It's a solid indicator, I use it for scalping. Mixed with proper S&R becomes very powerful but standalone is fine.

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Dieser Indikator ist eine hervorragende Kombination aus unseren 2 Produkten Advanced Currency IMPULSE with ALERT  +   Currency Strength Exotics . Es funktioniert für alle Zeitrahmen und zeigt grafisch Impulse der Stärke oder Schwäche für die 8 wichtigsten Währungen plus ein Symbol! Dieser Indikator ist darauf spezialisiert, die Beschleunigung der Währungsstärke für beliebige Symbole wie Gold, Exotische Paare, Rohstoffe, Indizes oder Futures anzuzeigen. Als erster seiner Art kann jedes Sym
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NO REPAINT ADVANCED CHART PATTERN INDICATOR By definition, a price ( chart)  pattern is a recognizable configuration of price movement that is identified using a series of  trendlines  and/or curves. When a price pattern signals a change in trend direction, it is known as a reversal pattern; a continuation pattern occurs when the trend continues in its existing direction following a brief pause. Advanced Chart Pattern Tracker is designed to find the MOST ACCURATE patterns. A special script is ad
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Ns_Geometric Chart Scale for MT4-Gann Grid,Gann Square & Gann box...To Draw any Geometric Shapes and Gann grid. #Forex Currecnies Pairs-Place same number & decimal in Gann Grid. if Commodities & Cryptocurrencies chart scale shows 0.66/66 same Scale for GannGrid ,for Gann square/Gann scale-66/660 Box only Numbers. #If Stocks & Index sale display - 3.03 that means Same scale input 3.03 for  Gann Grid and 303 for Gann Square & Gann Box Scale. Video Links :- https://youtu.be/Wnzq2-65GG4           
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Trendlinien sind das wichtigste Werkzeug der technischen Analyse im Devisenhandel. Leider zeichnen die meisten Händler sie nicht richtig. Der automatische Trendlinien-Indikator ist ein professionelles Tool für ernsthafte Trader, das Ihnen hilft, die Trendbewegung der Märkte zu visualisieren. Es gibt zwei Arten von Trendlinien Bullische Trendlinien und Bärische Trendlinien. Im Aufwärtstrend wird die Forex-Trendlinie durch die niedrigsten Swing-Punkte der Preisbewegung gezogen. Wenn man m
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Scott Edward Merritt
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(FOR MT4)   Double Top Scanner Multi Pair And Multi Time Frame :   This indicator has been designed to automatically identify high probability double tops and double bottoms. It can also be used to identify triple-tops and triple-bottoms. And it includes an RSI trend filter, in order to identify the formations that occur at the top (or bottom) of a trend. IMPORTANT FACTORS TO KEEP IN MIND: Any major level that holds 2 or 3 times is obviously a level that is being defended by the large institut
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Scalping Indikator 2 in 1. Beim Kauf dieses Indikators erhalten Sie einen automatischen Roboter geschenkt! Automatisches System zur Suche nach Kursumkehrpunkten. Der Indikator mit Punkten auf dem Chart eines Währungspaares zeigt die wahrscheinlichen Umkehrpunkte der Preisbewegung. Ein roter Punkt zeigt eine Umkehrung der Abwärtsbewegung an, und ein blauer Punkt zeigt eine Umkehrung der Preisbewegung nach oben an. Der Indikator eignet sich hervorragend für den Intraday-Handel mit einer Scalping-
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The signal conditions are a combination of three indicators, and XQ Forex Indicators only display  medium and long-term trends . The indicator's efficacy has been improved with the addition of a filter that blocks out false signals. The XQ Forex Indicator can be used on FX pairs, CFDs, and Cryptocurrencies . There are two type of signals:  Buy or Sell and Big Long or Big Short It is possible to enable sending emails when a major trend-change signal is detected, as well as to display the alerts
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Please send me Direct message on MQL5 CHAT after purchasing the Indicator for Training and Installation Support There are some additional files that is important to use with the Indicator . So be sure to contact me after purchasing the Indicator So that I can add you for training and support . If you find any difficulty with installation then send me Direct message here So that I can connect with you via Anydesk or Teamview for the product installation. " Smart Order Block Indicator " to find
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Quantum Volume Point of Control Indicator
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Open High Low Close Внешняя Свеча Индикатор внешних свечей наложенных на график с выбранными вами тайм фреймом. Наглядно отображаете уровни OHLC и пройденное значение ATR текущей свечи и свечей в истории. OHLC — аббревиатура, дословно расшифровывается как: O — open (цена открытия интервала (бара или японской свечи)). H — high (максимум цены интервала). L — low (минимум цены интервала). C — close (цена закрытия интервала). Данный индикатор наглядно покажет трейдеру, уровень открыт
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Risk Manager VT
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Risk Manager VT Робот - помощник, от команды VT. О рискменеджменте в торговле: Грамотный риск менеджмент в трейдинге – это залог успеха при решении основных Ваших задач, при активной ручной торговле, на биржевом рынке: дисциплина и контроль эмоций! Данный помощник поможет вам с лёгкостью ограничивать риски на каждую сделку, и правильно выставить уровни прибылей. Те кто долго торгуют, на валютном рынке, уже знают, что правильное соотношение риск/прибыль, является эффективным инструме
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Amir Gamini
Amir Gamini 2019.02.04 02:40 

the indicator keeps crashing my mt4 platform not happy at all!!

mxp1 2018.06.15 11:30 

Purchased after thorough testing. It's a solid indicator, I use it for scalping. Mixed with proper S&R becomes very powerful but standalone is fine.

Antwort auf eine Rezension
Version 4.0 2022.06.08
Обновлено до билд 2022г.
Version 3.0 2019.04.01
Добавлены входные параметры:

Теперь стили, цвета и длины наклонных уровней индикатора теперь полностью регулируются.

Несколько советов трейдеру:
1. Перед использованием рекомендуется изучить стратегию "Складной метр" и технические фигуры.
2. Ждать подтверждения (закрытия свечей выше или ниже горизонтальных и наклонных линий, уровней).

Примечание: Рекомендуемые тайм фреймы, для корректной работы индикатора. При работе с индикатором рекомендую: М1,М5, М15, М30, Н1, Н4.
На прорисовку графических объектов индикатора, на более старших тайм фреймах, может не хватить исторических данных по некоторым инструментам.
Включать все четыре пары трендовых линий рекомендуется на мелких тайм фреймах.
Version 2.0 2019.02.07
Добавлены входные параметры:

Теперь стили, цвета и длины наклонных уровней индикатора теперь полностью настраиваются.

Несколько советов трейдеру:
1. Перед использованием рекомендуется изучить стратегию "Складной метр" и технические фигуры.
2. Ждать подтверждения (закрытия свечей выше или ниже горизонтальных и наклонных линий, уровней).

Примечание: Рекомендуемые тайм фреймы, для корректной работы индикатора. При работе с индикатором рекомендую: М1,М5, М15, М30, Н1, Н4, D1. На прорисовку графических объектов индикатора, на более старших
тайм фреймах, может не хватить исторических данных по некоторым инструментам.