The perfect trend line MT4 indicator is an accurate buy/sell forex trading indicator that is based on the most powerful trend lines.
The indicator is very easy to use, in fact, you don’t need to draw any trend lines at all on the chart.
The perfect trend line indicator does all the hard work for you and translates every calculation into an easy to follow buy and sell signal.
- A green dot below the candlestick represents a buy signal.
- A violet dot above the candlestick represents a sell signal.
For buy signals, it’s recommended to place a stop-loss below the violet dotted rising support line.
For sell signals, place a stop-loss above the violet dotted falling resistance line.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD 1-Hour chart below displays the Perfect Trend Line Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Perfect Trend Line MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when a green dot below the candlestick appears on the chart.
Place a stop loss below support or use your own preferred SL method.
Sell Signal: Open a sell trade when a violet dot above the candlestick appears on the chart.
Place a stop loss above resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (time frame, slow length, slow pip displace, fast length, fast pip displace) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the perfect-trend-line-indicator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)