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Indicators

Custom Angle Trendline - indicator for MetaTrader 5

Dark Ryd3r

Views:
1183
Rating:
votes: 13
Published:
2021.06.08 22:23
Updated:
2021.06.08 22:39

Sometime we have to work with Custom Angles based trendline for price action analysis e.g. 45 degree angle is considered more important for up or down trend.
This indicator will help you by drawing a trendline which will match your custom angle on last input number of bars


First Right click on chart > Go to Properties > Common and Scale chart that you are comfortable with


Select Indicator Settings and input your custom angle in degress e.g. 45
You have two options - Set downline angle degree and set upline angle degree
You can select previous number of bars to consider for calculation
then this indicator will find two recent high and low for specified previous bars and plot a trendline that will follow your custom input angle





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