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Trend Line Finder MT5

49 USD

Demo downloaded: 129

Published: 20 January 2021

Current version: 1.2

Trend Line Finder MT5

Name: Trend Line Finder MT5
Price: 49.00 USD
Rating: 5 (2 reviews)
Author: Stephen Reynolds

Indicators
Stephen Reynolds
Stephen Reynolds
United Kingdom

45462
3.3 (37)
- https://fxalgotools.com/
18 products 72 topics 58 comments
Version: 1.2
Updated: 23 November 2021
Activations: 20

This is not a stand-alone trading system but is very useful in finding key areas of support resistance levels where price will usually either rebound from or breakthrough. Its down to the trader to decide what to do with use of other systems.

Trading is all about buying and selling at the right time. Trend Line Finder will help the trader be more on top of this by making the trader more on top and alerted to key areas of market price.

Features :

A way of recognising support and resistance levels
Be ontop of good moves before they happen
Send alerts to either your PC, eMail or mobile device
Works on any timeframe
No repainting or other such exagirated claims
Choose your favourite line and signal arrow color

Settings :

Line Settings

Lookback - The number of bars we search highest or lowest moving back from current.
Distance - As we search back through bars from Lookback this is how many bars we look for our highest or lowest.
Thickness Of Line - When Bid passes through line it must be within x points above and below the line for a signal to be made.

Graphical Object Settings

Line Color - Color of line
Line Size - Thickness of line
Buy Arrow Color - Color of buy arrow
Sell Arrow Color - Color of buy arrow

Line Direction

Resistance Up - If true we allow signal when the resistance line is up.
Resistance Down - If true we allow signal when the resistance line is down.
Support Up - If true we allow signal when the support line is up.
Support Down - If true we allow signal when the support line is down.

more...

734

Agbakeleke Idowu 2022.07.24 18:58 #

Thank you for your indicator, I bought it few weeks ago. I have some questions I don't really understand. There are some of the notifications being sent from the indicator I don't really get well...it will be good if you help to explain For example: What does downward resistance means? What does upward support means? And many other terms of notifications being sent by your indicator will really appreciate a quick response. Thank you.

3059

Quantum Trader 2021.09.14 16:25 #

my second product from Stephen , u will be so comfortable to deal with proficient people same with Stephen . Thanks for the great job and amazing service

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This EA exploits the inevitable behaviour of price fluctuations and breakouts. Because market prices will always fluctuate to higher highs before ebbing down to lower lows, breakouts of these levels will occur. This EA will open a trade in anticipation of catching some of the profits from these breakout moves. We use the fixed exit methods of Stop Loss, Take Profit and Trailing Stop in such a way so that we will scalp small but consistent profits. No martingales needed, just a simple but ex

30 USD

Volume Analysis Trader looks at volume using a fixed average of volume. This averaging helps spot when volume is rising or declining. Also I have added volume spikes which are when volume suddenly is above the average. These help spot market reversals. This will hep a trader look for the following in their trading: Rising volume during a rally shows trend is strong. Falling volume on a rally shows trend is weakening. As a rule of thumb on daily charts if current volume is higher than yesterday's

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The Hi Lo Breakout is taken from the concept of the ZZ Scalper EA which exploits the inevitable behaviour of price fluctuations and breakouts. The fact that because market prices will always fluctuate to higher highs before ebbing down to lower lows, breakouts will occur. But here I've added a few more filters which I see work well also as an Indicator. Range Analysis : When price is within a tight range this Indicator will be able to spot this and only then look for price breaks. You

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Trend Line Finder will project forward a support and resistance lines using 2 previous highs for resistance and 2 previous lows for support. It will then signal to the trader by alert making the trader more aware that a possible good move is about to happen. This is not a stand-alone trading system but is very useful in finding key areas of support resistance levels where price will usually either rebound from or breakthrough. Its down to the trader to decide what to do with use of other s

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Stop Reversal & Re Entry is a varied way to exit trades and manage your losses. I all in have made it into a 4 option utility of stop reversal, re entry with break even and partial close features for good measure. These 4 systems are : Stop Reversal : When true will place an opposite pending order exactly where the stop level is on your current trade. In the possibility of your trade being wrong it will get you in again in the opposite direction. Ive added a Only Recover Loss feature that

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Mohit Verma 2023.04.29 06:26 #

User didn't leave any comment to the rating

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Reply from developer Stephen Reynolds 2023.04.29 11:38 #

Hi, Ive made it so it alerts when price reaches the support or resistance lines. It wont give a direct buy or sell signal yet. These are points when price usually moves and moves well so its great for giving the trader a heads up. Its something i plan on doing in future as i would like it also as an EA but that's a later on project. Thanks Happy trading!

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Agbakeleke Idowu 2022.07.24 18:58 #

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Reply from developer Stephen Reynolds 2022.07.24 20:55 #

Hi, Agbele sorry for your miss understanding In trendline based trading the upper line is a resistance line and the lower line is a support line If we select Resistance Up as true then when the price is near the upper line and this line is in an upward direction the signal will be made and be displayed as "Upper Resistance" Likewise if we select Resistance Down as true then if the price is near this resistance line and its heading downward it will signal as "Downward Resistance" For example you can use inputs in such a way so as to suit which type of trend you want to capture Someone might only be interested in upward channels only which if you select only UpResistance=true and UpSupport=true then it will only send a signal
when price reaches lines that are in this direction. Hope this helps

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Quantum Trader 2021.09.14 16:25 #

my second product from Stephen , u will be so comfortable to deal with proficient people same with Stephen . Thanks for the great job and amazing service