Introduction to the FR Trendlines Indicator
The FR Trendlines is a trend-following forex indicator that consists of two lines. These lines work in similar manner to the moving average.
It is really simple to use that gauge. When the lines are blue color, and pointing up – there is a bullish trend and you should be looking for buy trades. Similarly, when the lines are red color, and pointing down – there is a bearish trend and you should be looking for sell trades.
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 FR Trendlines indicator in MT4?
Copy and paste the FR-TrendLines.ex4 or FR-TrendLines.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 FR Trendlines 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.
FR Trendlines Indicator Free Download
To download the FR Trendlines Indicator for Metatrader 4 (MT4) for free just click the button below: