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This chart below is a sell setup of the trendline trading strategy with the stochastic indicator:. Then wait for price to come to it and touch it. If price touches the rising trendline, check to see if the stochastic indicator is below the oversold region and if that is the case, you go to step 4. Place a buy stop pending order above the high of the candlestick that corresponds to the stochastic in the oversold region. Place your stop loss anywhere from pips under the rising trend line Place your take profit target on previous swing high.

Then wait for price to come and touche the falling trendline If price touches the falling trendline, check to see if the stochastic indicator is above the over bought region and if that is the case, you go to step 4. Place a sell stop pending order above the low of the candlestick that corresponds to the stochastic in the over bought region. By downloading an indicator or strategy, you are confirming that you have read and agree to all of the terms and conditions posted on our terms and conditions page.

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Best trendline indicator mt4

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