Forex Indicator TrueTL V1.01 settings:
True Trendline indicator for automatic generation of trend lines.
To build trend lines in automatic mode, you can use the true trendline indicator with an alert and without redrawing, working with platforms mt4 and mt5. At the same time, downloading true trendline from the global network is absolutely free.
A reliable and clever indicator of trend lines, our true trendline not only automatically builds trend lines, it is also able to differentiate these lines from senior to junior in importance, and also to sound beeps when the trend line is touched or broken. You just need to download the true trendline algorithm, attach it to your working chart and watch the results (as in the figure below), using this algorithm in the trading strategy.
You can use the indicator data for several purposes:
- Determination of the direction of the trend (as a rule, the indicator lines themselves indicate the current trend),
- Definition of market volatility, construction of important levels and the like.
Trade on the indicator true trendline, is either on breakdown or on a spread. If the price breaks the resistance level and continues further movement – we make a purchase. If the price pushes away from the support level, then we open a sell order.