When a new bar is occurred, the indicator defines points to draw trend lines and, if the coordinates of points are changed, it redraws the lines. When determining the points, the current bar is ignored. Support line is drawn on low, resistance line is drawn on high. There are two points of determining in the indicator. Both types are described below on the example of the support line.
- InpLineType – Line type
- InpLeftExmSide – Left extremum side* (Type 1, 2)
- InpRightExmSide – Right extremum side (Type 1)
- InpFromCurrent – Offset from the current bar (Type 2)
- InpPrevExmBar – To consider bar before extremum (Type 2)
Type 1. By two extremums.
- From the next to last bar “go” to the left and search for the first (right) point-extremum from InpRightExmSide bars on the either side.
- From the first point again “go” to the left and search for the second (left) point-extremum from InpLeftExmSide bars on the either side.
- Draw the trend line.
MT5 Indicator – Download Instructions
AutoTrendLines is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
AutoTrendLines provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install AutoTrendLines.mq5?
- Download AutoTrendLines.mq5
- Copy AutoTrendLines.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on AutoTrendLines.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator AutoTrendLines.mq5 is available on your Chart
How to remove AutoTrendLines.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: