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Folding meter 4 Trend Lines

5

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).
Reviews 2
mxp1
623
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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My indicator is 1000%, it never repaints, it works in every time period, there is only 1 variable, it sends notifications to your phone even if you are on vacation instead of at work, in a meeting, and there is also a robot version of this indicator With a single indicator you can get rid of indicator garbage It is especially suitable for scalping in the m1 and m5 time frames on the gold chart, and you can see long trends in the h1 time frame.
Scalper gun
Mikhail Nazarenko
4.5 (2)
Scalper gun   - the main weapon for trade in scalping and swing, with visualization and alert of entry points. The indicator works in both trend and non-trend market conditions. Suitable for beginners and experienced traders. SCALPER GUN surpasses popular top indicators of this site in speed, quality of visualization and accuracy of entry !!! Before buying, download the Scalper gun demo and compare it with similar indicators for scalping in the MT4 tester. Features This is a complete trading s
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High and Low Levels EMA Технический индикатор в помощь трейдеру. Однажды пришла идея при изучении индикатора Moving A verage ( MA ). Так как мувинги эти сглаженное, среднее значения цены за выбранный период, то как и у обычной цены и у мувинга должны быть «хаи и лои». Данный индикатор, показывает уровни High и Low . Динамических уровней поддержки и сопротивления. О понятии High и Low . Хай  — от английского  high  — обозначает наиболее высокую цену («рынок на  хаях » — капитализ
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Today is the Day
Alexander Shienkov
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This simple information indicator shows the name of the current day and past working days, months and years. On the concept of time and timeframe It is common knowledge that a timeframe is a time interval considered in technical analysis of free financial markets, during which the price and other market data changes occur when the price charts are plotted. In the MetaTrader 4 trading terminal, these periods are separated by vertical dashed line, which can be enabled or disabled by simply press
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It is another simple information indicator. This indicator shows the current spread of a financial instrument and the value of one point with a volume of 0.10 lot. About the Spread Spread is the difference between the Ask and the Bid price of an asset in the stock or currency exchange. Let's refer to Central Banks and currency exchange in these banks, in order to understand why Spread is so important in currency trading. In Central Banks, we always see the difference between the buying and the
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EMA Above Below Bid price Технический индикатор в помощь трейдеру. Данный индикатор, показывает расположение пяти ЕМА,  пяти средних скользящих, относительно цены формирующей японские свечи или бары (цена Bid ). О понятии ЕМА. Скользящая средняя (moving average, MA)  — это дополнительная линия на графике цены актива.  Внешне она повторяет график цены, но с небольшим запозданием и более гладко, без колебаний. Основные характеристики: 1.     Показывает тренды. Если скользящая устрем
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A simple information indicator showing the time left before the opening of the next candlestick or bar. About the concept of a timeframe A timeframe is the time interval considered in the technical analysis of free financial markets (the same applies to the global currency market), during which the price and other market data change. The smallest timeframe is the so-called tick. A timeframe is the time interval used to group quotes when drawing elements of a price chart (bars, Japanese candles
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Indicator of vertical lines on the timeframes М5 and М1. It draws the lines for the period of the current day and the previous day. This indicator visualizes visually shows the trader the beginning and end of the chart hour, as well as the past hourly periods, 30-minute and 5-minute chart intervals. The advantage provided by this indicator is that the trader using this indicator on a chart of a currency pair with the smaller timeframe will always be aware of when the new hour begins. On the co
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ATR info panel
Alexander Shienkov
5 (1)
Индикатор таблица, постоянно меняющихся значений, пройденных ценой пунктов от начало дня (D1) , от начала недели (W1) и от начала текущего месяца (MN) . Индикатор также показывает средний дневной АТР за выбранный период. Параметры всей таблицы регулируются. Перемещение по осям монитора, для расположения в удобном месте, цвета текстов и заполнений ячеек, размеры столбцов, строк, цифр и текстов. Пользоваться можно на белом и тёмном фоне. По индикатору трейдер может легко определить настроение на р
Indicator of the Margin Call, Stop Out and Plus 100 (one hundred percent of profit to the deposit) levels. It has been designed to better visualize and maintain money management when trading financial instruments. The levels drawn by the indicator have different colors. They visualize the price range, at which a broker generates a notification (Margin Call) and force closes the deals (Stop Out) due to the shortage of funds on the account, in case the price goes against the positions opened by a
An indicator of round levels. A range of important price levels with sound and text alerts, which are generated when the current Bid price of a currency pair is equal to a round number. This indicator visually shows the trader true support and resistance levels, which are used by most of traders and trading robots. The advantage provided by this indicator is that the trader using this indicator on a chart does not need to draw any additional levels. Round price levels represent a certain barrier
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This indicator shows the levels and signal dots of the Doji pattern. The indicator allows traders to easily determine possible location of a price rebound. Doji is a candlestick with Open and Close price equal, or almost equal. It should also have shadows of approximately the same size on both sides. Doji denotes the balance between buyers and sellers, or the absence of major players, or level testing. This pattern can mean both a reversal and a continuation of the trend. Indicator Parameters
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This indicator visualizes the intersection of two moving averages in the MACD oscillator. It uses the histogram color to signal about the moving averages crossing the zero level of the indicator. The MACD (Moving Average Convergence/Divergence) indicator is a popular oscillator actively used by traders when working in the currency and stock markets to determine trends and to search for trading signals. This linear indicator allows obtaining a variety of trading signals: crossing the zero line; d
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Alexander Shienkov
Индикатор динамического уровня сопротивления и поддержки Moving Average. Визуально показывает момент прикосновение цены Bid , одной или трёх скользящих средних с   заданными во входных параметрах свойствами. Создан для наглядности сигналов и оповещения состоявшегося пересечения (прикосновения) цены Bid и Moving Average. Скользящая средняя — это просто усредненное значение цены за выбранный период времени, он же таймфрейм (ТФ). Именно поэтому скользящие используются на самых разнообразных
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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Alexander Shienkov
Ещё один простой информационный индикатор, показывающий самые важные торговые сессии валютного рынка. О понятии торговых сессий. Всем известно, что торговая сессия – это промежуток времени, в течение которого банки и другие участники рынка ведут активную торговлю, при этом активизируются   в определённые часы рабочего дня. Валютный рынок, рынки акций и сырьевые рынки   работают круглосуточно с понедельника по пятницу, кроме праздничных дней. Когда в одной стране ещё спят, в другой рабочи
Risk Manager VT
Alexander Shienkov
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
Open Day and ATR
Alexander Shienkov
Информационный индикатор, показывающий самые важные торговые уровни для внутридневной торговли, и не только. О понятии уровней «Поддержка» и «Сопротивление». Всем известно, что исторический ценовой диапазон цен состоит из уровней от которых в прошлом, были значимые движения. И уровни работающие в прошлом, наверняка будут работать и сейчас. К примеру, уровень, находящийся снизу текущей цены является уровнем «Поддержки», если от него ранее было значительное движение. К примеру, уровень,
History VT
Alexander Shienkov
History VT Информационный индикатор. Показывает на графике, сразу после открытия сделки, стрелку именно на той японской свече, где позиция открыта. То есть там, где появилась штрихпунктирная линия открытой сделки, в терминале. Далее, после открытия сделки, как обычно, трейдер ставит SL и TP  и ждёт итога своего выбора направления движения. После того как сделка закрылась, по « sl » или « tp » или «вручную», индикатор отображает на графике уровни и текстовые сноски параметров сделки. С
Auto Multi Channels VT Ещё один технический индикатор в помощь трейдеру. Данный индикатор, автоматически показывает, наклонные каналы в восходящем, нисходящем и боковом движении цены, т.е. тренды. (Внутри дня. Среднесрочные и долгосрочные, а также Восходящие, нисходящие и боковые). О понятии Тренд. На бирже, трендом называется  направленное движение ценового графика в одну из сторон (вверх или вниз) . То есть, тренд в трейдинге — это ситуация, когда цена определенное время возрастает или
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Amir Gamini
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Amir Gamini 2019.02.04 02:40 
 

User didn't leave any comment to the rating

mxp1
623
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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Version 4.2 2024.01.04
Обновлённый билд 2024г.
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.