Introduction to the Auto Trend Lines Channels Indicator
The Auto Trend Lines Channels indicator detects the tops and bottoms of the market and connects these points with automatic trend lines.
That gauge provides high accuracy in defining correct trend lines. Besides moving averages, auto trendline plays a vital role in spotting dynamic support and resistance levels.
To achieve maximum benefit from the Auto Trend Lines Channels Indicator, one needs to know some basics of price action. For example, pin bar signals, inside bar breakouts, false breaks, etc. Such skills will surely help you to understand how the price is reacting in the trendline areas and what to do next.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed directly on the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Auto Trend Lines Channels indicator in MT4?
Copy and paste the auto-trend-lines-channels-indicator.ex4 or auto-trend-lines-channels-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Auto Trend Lines Channels indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Auto Trend Lines Channels Indicator Free Download
To download the Auto Trend Lines Channels Indicator for Metatrader 4 (MT4) for free just click the button below: