can you tell me which trendline indicator works with Meta Trader 4 ?
Check out TrueTL (truetl.com). It draws trendlines automatically, however it's not free.
Trendlines are so important in technical analysis. It lays the foundation for most analytic indicators. Operating on the basis of price props, it could be one of the best effective tool in market trends. Basically, trendlines are straight lines relating two or more price points. I would advise you try True TL or Trading Sim.Goodluck.
Agree with FX-sheriff, trend lines are good to prefer for analysis as it gives idea of exact position so that we can take good decision accordingly. In technical analysis I used to prefer price indicator.
Here is an indicator that draws trend lines automatically using ZigZag high/low points.
Enjoy TTL. AAAAAAAAAAAAAAAAAAAAAAAAAAABBBBBBBBBBBBBBBBBBCCCCCCCCC
It didn't want to post it if I don't put 20 letters hey you have it!
Automatic Trendlines indicator is also works with Meta Trader 4
Hey man, let me to tell you something.
Trendlines are overrated.
The best ones to trade are usually MN and W1 and up to D1.
Trendlines are pretty and I have it as an important trading tool (I use it mainly to decide when not to trade), but are not the "ultimate" trading tool that was supposed to be...
The thing is that: Because trendlines are subjective levels, not every trader in the world know for sure the points of their actuation.
With Support and Resistance, Round Numbers and even Fibonacci Levels, however, the thing is different: for its horizontal nature, every trader in the world knows that if the high of yesterday for AUDUSD was 0.90, it's much more likely to be "respected" as an interest point than an intraday Trendline.
That said... let me answer your question:
The best way to make trendlines is the one you learn by your own experience. This is the real Ultimate Trendline Drawing Indicator.
So go to the charts and start drawing them today and you'll learn fast how it works for yourself.
Do always your own trendlines it is so easy and accurate!
anyone with demark TL