KT Auto Trendline MT5
- Indicators
- KEENBASE SOFTWARE SOLUTIONS
- Version: 1.0
- Activations: 5
KT Auto Trendline draws the upper and lower trendlines automatically using the last two significant swing highs/lows. Trendline anchor points are found by plotting the ZigZag over X number of bars.
Features
- No guesswork requires. It instantly draws the notable trendlines without any uncertainty.
- Each trendline is extended with its corresponding rays, which helps determine the area of breakout/reversal.
- It can draw two separate upper and lower trendlines simultaneously.
- It works on all timeframes, symbols, and all types of charts.
- It also provides alerts when price crosses or touches a trendline.
- All Metatrader alerts included.
Inputs
- Zigzag for Trendline 1
- Show First Trendline: true/false
- Depth, Deviation, Back Step.
- Zigzag for Trendline 2
- Show Second Trendline: true/false
- Depth, Deviation, Back Step.
- Alert Settings
How Auto Trendline Works
It uses ZigZag to fetch the upper and lower pivot points on the chart. It interpolates the anchor points and draws the trendlines with their respective future projected rays using the fetched data.
Trendline Sensitivity
The trendline sensitivity depends on the chosen Depth, Deviation, and Back Step of the ZigZag.
How to Trade using Trendlines
A trendline is a diagonal line that connects two or more pivot points in an upward or downward direction. Technically, it does not qualify as a trendline until the price tests the third point. You can use the trendlines to find the area of support/resistance, breakouts, and reversals.
