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2 Attachment(s)
Trendline Indicator
he Indicator draws a channel with explanation (informer in the left top corner of the chart)
Input variables:
LineColor=DarkOrange;
AllBars=240;
BarsForFract=0;
SUGGESTIONS FOR USE:
1. Easily determinate a current trend of any pair. ( Important: always trade follow a trend. Very useful tool
to be used with any buy/sell indicator or software)
2. Open a trade on a trend change ( trend line confirmed breakout )
- trend line confirmed breakout: a whole candle must close above or below a trend line - strong signal for a trend change.
Timeframe: ANY
Pairs: ANY
I think its very useful. I use that indicator for a while in h4 timeframe and find it very useful.
Attachment 487
Attachment 486
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its look good and think its work better..
i use this on demo account and then publish the result here..
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For Trendindicators there will be some more good i have. So i will post it here the next time. Feel free to download it. And post when they get good trading success with it.
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Hi,
you can use for this things the Stochastic Oscillator wich is delievered in the Metatrader Package.
I will post soon a special Stochastic Indicator thas very useful because it will terminate the most false signals. If you look at this in the higher timeframes you can see when a reverse begin.
A big reverse will take some time.
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Hello,
you can use the indicator in every timeframe. To look where is a good entrance for a trade and in which direction goes the trend, so look at the higher timeframes. Thats all
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I am very glad to catch the trendline indicators here.I have ever searched so many times about the trendline indicators online.With the picture you upload there,I find it is so clear for us to make sure the position will the trend reach.I wish I can enjoy the indicator so much in my MT4.
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I have many more of such indicators that are useful, but only by time i will do some uploads here, because have many projects and not so much time. But it should be useful for anybody and should help the better trading. So please look every week in this thread there will be come much more of useful things.
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indicator is really helpfull for the market trading it gives information you about market movement. but all time depend on indicator is really dengerous for your account. because if it gives false signal your account will be zero so indicator is best but trade in the basis of analysis.
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Hi himel,
therefor i have a different opinion. So every indicator gives false signals from time to time. So you can eleminate this problem by using more than one trend indicator. Good indicators bring you signals that collects 90% of right signals. The rest of the ten percent you can eleminate by useing more than this only one. I will post the next good trendindicators the next time. That can be used with this first one or stand alone.
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I also used a trend channel indicator named Shi channel in the 4h chart too, i found it really usefull that the price tends to abide the channel. If the price touch the upper channel then the price would bounce down again.