Elevate your trading strategy with the Smart Auto Trendline Indicator, a powerful tool designed to automatically plot support and resistance trendlines on your MetaTrader 5 chart. This indicator simplifies technical analysis by identifying key price levels using two distinct methods, ensuring accuracy and efficiency.
Key Features
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Two Extremums (Type 1): Automatically draws trendlines based on two extremum points (highs or lows) within user-defined bar ranges, providing clear support and resistance levels.
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Extremum and Delta (Type 2): Combines an extremum point with a minimal delta point for dynamic and responsive trendlines.
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Real-Time Updates: Trendlines are updated only when a new bar forms, optimizing performance without compromising chart clarity.
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Customizable Settings: Adjust line width, colors (default: pink for support, blue for resistance), and extremum side ranges to suit your trading style.
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User-Friendly: Selectable and adjustable trendline properties make it easy to integrate into your workflow.
Input Parameters
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Line Type: Choose between EXM_EXM (Two Extremums) or EXM_DELTA (Extremum and Delta).
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Left Extremum Side: Set the number of bars to check for the left extremum (default: 20).
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Right Extremum Side: Define bars for the right extremum in Type 1 (default: 3).
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Offset from Current Bar: Adjust bar offset for Type 2 calculations (default: 3).
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Account for Bar Before Extremum: Option to include the bar before the extremum in Type 2 (default: false).
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Lines Width: Customize the thickness of trendlines (default: 1).
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Support/Resistance Line Color: Personalize colors for support (default: pink) and resistance (default: blue).
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Instance Name: Assign a unique identifier for the indicator (default: "AutoTrendLines1").
Why Choose Smart Auto Trendline?
This indicator is perfect for traders looking to automate trendline analysis while maintaining flexibility and precision. Whether you're a beginner or an experienced trader, the Smart Auto Trendline Indicator helps you identify critical price levels with ease, enhancing your decision-making process.
Download Now
Ready to take your trading to the next level? Download the Smart Auto Trendline Indicator from the MQL5 Market:
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