Trend Line Finder MT5
49 USD
Download demo:
125
Publicado:
20 janeiro 2021
Versão atual:
1.2
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Hi , kindly could you look for an error when i delete the indicator from chart the lines remain there ,
Thanks
Hi , kindly could you look for an error when i delete the indicator from chart the lines remain there ,
Thanks
Thanks for letting me know about this.
I will look into later today.
Thanks for letting me know about this.
I will look into later today.
I have since updated Trendline Finder it now deletes its own objects when taken of chart.
See https://www.mql5.com/en/market/product/60938
I have since updated Trendline Finder it now deletes its own objects when taken of chart.
See https://www.mql5.com/en/market/product/60938
Problem solved , thanks for your quick response .
Thank you for your indicator, I bought it few weeks ago. I have some questions I don't really understand.
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.
Here is an example of an upward channel showing here we have an upward resistance and upward support with signal being displayed.
Hope this helps
It is great at giving the user a heads up as to what is about to likely happen with the price and that is either a reversal or breakout. But you might need other knowledge to combine with this system which would help your entry decision.
Trendline Finder gives the signal when price reaches a support or resistance the 3rd time which is significant as you can see for yourself when used on backtest the price reacts most of the time to these price points.
For example if you look at my chart Example 1 below you will see a signal then if you look at Example Candlestick you will see the signal lasts 5 bars where another signal called a bear engulfing pattern forms. This pattern is taken from a Steve Nison candlesticks course i have.
If you goto my website https://intraday-trading-tools.com/free-system/ you might get more of an understanding as to how or why i believe in support resistance trading. But within that page you will see another system of using candlesticks to trade with along with trendline trader. See Bear Engulfing pattern. Website file below or from the actual website.
Also i see here there is a declining volume which also tells me the strength behind the current uptrend weakening so has a good chance its about to reverse.
So all in when we combine the 1) resistance 3rd hit, 2) the bear engulfing and 3) the declining volume all are a good indication that i should take a sell trade.
What I like about candlsticks is they help you trade with small risks. Here I show you can use this pattern to base the stop loss and takeprofit levels on. Here i have a takeprofit 1 and takeprofit 2. Takeprofit 1 i might lock in 50% of my lot size then take all my lot at takeprofit 2.
Of all the many many trading systems ive looked at i see there is something very likely about to happen when price approaches these support resistance points. My description of my free system at ttps://intraday-trading-tools.com/free-system/ can maybe help you understand how to use trendline trader along with other knowledge as stated
Hope this helps