Problem It can take a long time to enter trendline trades even if you use pending orders or are using market orders. What can the Trendline Magic EA do? You don't need to watch the screen for ages to catch trendline breaks and bounces It takes the emotion out of these stressful trades It makes your trendline trades more accurate You can pre-program and automate the entire transaction using stops, targets, following stops, break-even stops. Something not possible with pending orders. You can trade in your sleep , while you are working and doing other things.
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You can trade as many trend-lines for the same currency as you like. You can limit the number of entries so that various trend-lines to not create unwanted trades. You can determine your entry method - on a touch or on a close after the crossover You can pre-program transaction management strategies.
Forex trendline breakout indicator
Make trading channels and trendline breakouts and bounces easy. Examples of Trendline Magic EA automated trades. Channel bounce trades. Breakout Trades. Purchase here. Purchase your EA here The EA can be used as often as you want on as many broker trading accounts you want as long as you do not use it on more than 2 computers.
6# Trendline Breakout and Fibonacci Trading System
Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Any trading, including currency trading, is highly speculative and a risky way of making money and should not be done with the information on this website only.
This trading system applies the Triangle Breakout indicator that plots auto-trendlines to spot the triangle breakout patterns. Also, it includes a built-in support and resistance indicator to helps the traders in projecting the potential destination of the price. The triangle breakout traders use this level as their ideal trade-exit levels. Triangle Breakouts Forex Trading System for MT4 can be applied to trade all kinds of forex currency pairs, stocks, futures, metals, oils, and more within the financial markets.
MT4 "AutoTrendline" Indicator
Moreover, you can apply the triangle breakout trading strategy on all sorts of timeframe charts available in the MT4 trading platform. However, it has been observed that the triangle breakout trade setups offer better confirmations when applied on larger timeframe charts. Therefore, we recommend you to apply it on H1, H4, and daily charts for greater outcomes.
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Besides, you can add this triangle breakout strategy to other price-action based trading strategies for enhancing your trading performance. Also, our chart examples of triangle breakout trade setups will help you to understand its working methods and trading rules. This chart example represents a buy setup of USDJPY in a 1-hour chart following a bullish price breakout of the triangle pattern. Initially, the price was slowly moving downwards and eventually finds support near the Later, the price attempted to move further downwards but got rejected from the same support level.
Our triangle breakout indicator connects the current lows of the price to plot the trendline support of the triangle. This "AutoTrendline" indicator for MetaTrader 4 automatically draws such trendlines when the conditions for that are satisfied - making the job of the trader that much easier and simpler. By automating the trendline drawing part with this indicator, traders can instead focus on other important aspects of analyzing markets.
Tips for using: You can trade trendlines displayed by the "AutoTrendline" indicator in various ways. For example, if you break above or below the trendline, you may want to try a breakout strategy.
In addition, prices often rebound after they touch the trend line.