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The Auto TrendLines Indicator automatically plots dynamic ascending and descending trendlines on the chart. This tool examines highs and lows, generates precise lines, and shows the overall direction of the trend.
Specifications Table of Auto TrendLines Indicator
The specifications of the Auto TrendLines Indicator are presented in the table below:
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Indicator Categories:
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Support & Resistance MT4 Indicators
Signal & Forecast MT4 Indicators
Levels MT4 Indicators
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Platforms:
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MetaTrader 4 Indicators
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Trading Skills:
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Elementary
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Indicator Types:
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Breakout MT4 Indicators
Reversal MT4 Indicators
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Timeframe:
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Multi-Timeframe MT4 Indicators
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Trading Style:
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Day Trading MT4 Indicators
Scalper MT4 Indicators
Swing Trading MT4 Indicators
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Trading Instruments:
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Share Stocks MT4 Indicators
Indices Market MT4 Indicators
Commodity Market MT4 Indicators
Stock Market MT4 Indicators
Cryptocurrency MT4 Indicators
Forex MT4 Indicators
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Auto TrendLines Indicator at a Glance
The Auto TrendLines Indicator draws the ascending trendline (support) in green, and the descending trendline (resistance) in red.
Moreover, whenever a trendline is broken by price, the indicator issues buy and sell signals depending on the direction of the trend.
Buy Signal
Based on the EUR/JPY daily chart, the descending trendline was broken by price. The indicator detected this breakout and issued a buy signal with a green arrow.
Sell Signal
According to the 4-hour chart of Solana (SOL), the price successfully broke the ascending trendline (support).
As shown in the chart, immediately after the ascending trendline was broken, the indicator issued a sell signal with a red arrow.
Auto TrendLines Indicator Settings
The adjustable settings of the Auto TrendLines Indicator are as follows:
- PivotPeriod: Period number for pivot point detection
- Lines: Number of trendlines to display
- ShiftLastPivot: Shift of the last pivot on chart
- HistoryLimit: Limit of past candlesticks analyzed
- ExtendLines: Extension of trendlines across chart
- ShowArrows: Display of arrows on pivot points
- UpTrendColor: Color of ascending trendlines
- DownTrendColor: Color of descending trendlines
- TrendlineWidth: Thickness of trendlines
- ShowAlerts: Display of alerts on chart
- EmailAlert: Alert sent to email
- NOTIFICATION: Notification sent to device or platform
- MESSAGE_TIMEOUT: Duration of alert message display
- MESSAGE_SUBJECT: Title of alert or notification message
Conclusion
The Auto TrendLines Indicator is an intelligent tool for automatically plotting ascending and descending trendlines based on pivot points.
This indicator, with precise detection of support and resistance levels, facilitates the identification of key price reaction zones.
In addition, when trendlines are broken, this trading tool issues buy and sell signals.
Auto TrendLines Indicator for MT4 PDF
Auto TrendLines Indicator for MT4 PDF
Click to download Auto TrendLines Indicator for MT4 PDF
Is this indicator only usable on higher timeframes?
No, the Auto TrendLines Indicator is multi-timeframe and usable across all timeframes.
How is a buy signal issued?
When a descending trendline is broken by price, the Auto TrendLines Indicator issues a buy signal in the form of a green arrow.