The Trend Line Metatrader 4 Forex Robot is an automated trading software that infuses the technique of a trend line drawn on the MT4 activity chart.
It creates a set of trend line logic that triggers buy and sell market positions
The EA takes away the problem of trader not drawing the trend line correctly when being done manually.
It’s able to detect the market trend along with its strength and uses this set of information to open and close positions on autopilot.
The Trend Line EA can also be used when trading in the direction of trending moves.
Strategy Tester Report
Find below the Trend Line robot strategy tester report for the GBP/USD forex pair on the Daily chart.
The EA made a total profit of $30273.79 from a total of 129 trades. The largest winning trade generated $3395.22 in profits, while the largest losing trade generated a loss of-$3957.15.
Bars in test: 2046 ticks modelled
Initial deposit: $10000.00
Total net profit: $30273.79
Total trades: 129
Largest profit trade: $3395.22
Largest loss trade: -$3957.15
Consecutive wins: 9
Consecutive losses: 1
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: TREND length (bars), TREND color, Enable “no loss”, When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend Line
Copy and paste the Trend Line.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)