Slope Direction Line SDL Trend Signals
- Göstergeler
- Do Thi Phuong Anh
- Sürüm: 1.0
- Etkinleştirmeler: 5
SDL Trend Signals is a custom MQL4 indicator named "Slope Direction Line" for MetaTrader 4. It employs weighted and simple moving averages to create customizable trend lines on charts.
Using two trend line buffers (Uptrend and Downtrend) and one for indicator values (ExtMapBuffer), the indicator calculates trend lines. Bullish slopes appear in BLUE, signaling an upward trend, while Bearish slopes are in RED, indicating a downward trend.
In a Bullish trend, traders can enter a BUY position with a stop loss below the prior low. Holding the position, profits can be booked at the opposite signal. Conversely, in a Bearish trend, the RED slope prompts a SELL trade with a stop loss above the previous high, and profits can be taken at the opposite signal.
Effective for multi-timeframe trading, the indicator allows forex traders to apply technical analysis on long-term charts for trend identification and short-term charts for optimal entry points, with the trend direction chart being four times higher than the entry point charts.
===
MT5: https://www.mql5.com/en/market/product/109041
===