Trend line auto, Automatic Trendline Indicator
Videos The automatic trend line indicator determines the current up trend and down trend line and draws them. Trend lines may also be drawn manually using the drawing tool on the charting toolbar, but this indicator does it automatically.
Trend Lines Auto Indicator Explained
The user specifies the number of periods to "look back" from the present to determine where to place the trend lines. The up trend line connect the lowest low in trend line auto user specified period with the next lowest low preceding the highest high for which the trend line is not penetrated.
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The down trend line connects the highest high in the period with the next highest high preceding the lowest low for which the down trend line is not penetrated. The user may specify the colors and whether to draw either the up, the down trend, or both.
In some cases, depending on the historical pricing of a particular issue, there may not be a valid up or down trend for the user specified period. This indicator can be applied multiple times to the same chart window.
For example, in a daily chart, you could add auto trend lines for periods of, and 60, to see long term, intermediate term and short term trends in your charts. Auto trend lines are especially useful in slide shows.
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- This indicator exponentially increases the value of trend lines by creating a parallel channel area of dynamic support and resistance.
As the slide show advances from one issue to the next, the current trend lines for the issues are calculated and drawn automatically. This is not possible with manually drawn trend lines.
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The uptrend line can be seen in green, with the downtrend line in red. The trendline is based on a period of as seen in the preferences below.
Refer the the description at the bottom of this page for further details on how the trendlines are determined. Copied formula to your clipboard.
Overview Reviews 51 AutoTrendLines is an indicator for MT4 that spots the most exact trend lines and automatically plots them on the chart. If you often rely on trend lines in your daily trading, the given indicator will make it much easier to work with them and relieve you of the need to spot and manually draw the lines every time. The indicator displays only the most actual trend lines. Thus, the line will be removed from the chart if its interaction with the price is no longer expected. It is best suited for intraday and mid-term Forex trading.
Formula Copy UpTrend Line: connects the lowest low in the user specified period with the next lowest low preceding without penetrating any of the other bars in the period.
DownTrend Line: connects the highest high in the user specified period with the next highest trend line auto preceding without penetrating any of the other bars in the period.
Classic Mode UpTrend Line: connects the lowest low in the user specified period with the next lowest low preceding the highest high for which the trend line is not penetrated. DownTrend Line: connects the highest high in the user specified period with the next highest high preceding the lowest low for which the down trend line is not penetrated. The value of these tokens will represent the value of the steepest automated trendline at the current bar.
Each token uses the preferences of the Automatic Trendline indicator. These tokens can be helpful in finding instruments that may be breaking through the trend. For instance, you may run the following scan