The Trendlines LNX indicator is a forex indicator for Metatrader 4 that automatically draws the most important trendlines on the trading chart for the following timeframes: 15-minute, hourly, 4-hour, daily and weekly.
The LNX indicator uses different colors for each trendline depending on the timeframe, for example, the 15-minute trendlines use blue colors, while the hourly trendlines use red colors.
The basic concept of trading with LNX trendlines is really easy to understand:
- Look for buying opportunities when the price touches support trendlines and clearly react at these levels.
- Look for selling opportunities when the price touches resistance trendlines and clearly react at these levels.
Important tip: Trendlines placed on the higher timeframe’s carry more weight than trendlines placed on the lower trend lines.
You can change all default trendline colors to your preferable colors directly in the indicator’s settings window.
How to install the Trendlines LNX Indicator on your Metatrader 4 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Trendlines LNX Indicator files into following folder of your Metatrader 4 (MT4) platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on trendlines-lnx-indicator.mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
In the archives you will find following Metatrader 4 files included:
Trendlines LNX Indicator Free Download
To download the Trendlines LNX Indicator for Metatrader 4 (MT4) for free just click the button below: