Perfect Trend Line Indicator
Platform: MT4 Type: Trend Last update: October 18, 2024The Perfect Trend Line Indicator is a custom trend-following forex trading tool that uses crossovers to generate buy and sell signals signalized by dots. Additionally, it colorizes the candlesticks to green and pink.
How to use the Perfect Trend Line in trading?
Signals provided by the Perfect Trend Line Indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Entry: Open long trade when a green dot occurs and the triggering bar has closed. Place your stop loss a few pips below last swing low.
Sell Entry: Open short trade when a pink dot occurs and the triggering bar has closed. Place your stop loss a few pips above last swing high.
Exit Trade / Take Profit: Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
This is a very basic way of trading with tis gauge. We suggest adding some filters e.g. moving average.
Example of EUR/AUD H1 Chart
This screenshot below shows an example of the Perfect Trend Line in action. In conjunction with a 50 period simple moving average.
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