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4. How to use Forex Indicator Tendency Lines

Metatrader 4 Tip 4 – How to use Forex Indicator Tendency Lines

 

On the last tip, we saw Forex Fractal Indicator on Metatrader 4.  Today, we will be focusing on the use of the Forex Indicator Tendency Lines on MT4

The Technical Forex Indicator, TRENDLINE, allows us to define lines of Support and Resistance in the Forex market.

How to Add the Forex Indicator Trendline on MT4?

Add Forex Indicator Trendline on MetaTrader 4

Joining the points that have formed the Forex Indicator Fractal, we can attain valuable and relevant trendlines.

Resistance Trendline and Support Trendline

The trendline, as its name says, allows us to identify the direction of a trend, as the possibility to define roofs and floors that, in case they break, they can alert us to take long or short positions.

RISK WARNING: Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose more than the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary.