How Do You Create a Trend Line on MetaTrader 4? - How to Add a Trend Line on MetaTrader 4 Explained
To add a trend line on MT4 platform use charting tools for drawing the trendlines - MT4 Trend Lines Tools.
To create trend lines on charts on the MetaTrader 4 platform, traders can use the add trend line tool provided on the MT4 software that is shown on the example below.
How to Add a Trendline in MT4 Platform Explained - Add Trend Line Tool in MetaTrader 4
How Do I Create a Trend Line? - How Do You Create a Trend-Line on MT4?
To create a trendlines on a chart - just click the MetaTrader 4 add trend-line drawing adding tool above on the MT4 platform & choose point A where you want to start adding the trend-line & then point B where you want the trendline to touch. You can also right click on trend line & on the trend line properties option select the option to extend its ray by ticking the "ray check box", if you don't want to extend the trend line, then untick this option in your Meta Trader 4 - trend line properties. You can also change other trend-line properties such as color & width on this trend-line property popup panel of the trend line properties. You can download MT4 forex trading and learn how to create and add trend lines and learn trend line with MT4 Trend-Lines Tools.
Forex Strategy of Trend-Lines with Examples
There are 2 technical analysis strategies used to trade the trend lines:
- Trend-Line Break
- Forex Trend Line Bounce
Example 1: Strategy of Trend Lines - How to Create Trend Lines in Forex Trading
The trendline bounce is a continuation signal where the price bounces off the trend line and continues in the same direction as that of the market trend.
Trend Line Bounce Strategy in Upward Trend
- In an upwards trend, the price will bounce upwards after hitting this upwards trendline level which is the support level.
Forex Up Trend - Trend Line Bounce after Touching Support Zones Provided by the Upward Trend Line
Forex Upwards Trend - Trend-Line Bounce Strategy
How to Create Trend Lines and Strategy of Trend Lines in Forex Trading
Trend Line Bounce Strategy in Down Trend
- In a downward trend, the market will bounce downwards after hitting this trendline level which is the resistance level.
Forex Down Trend - Trend Line Bounce after Touching The Resistance Areas Provided by the Downwards Trend Line
Forex Downward Trend - Trend-Line Bounce Strategy
How to Create Trend Lines and Strategy of Trend Lines in Forex Trading
Example 2: Strategy of Trend Lines - How to Create Trend Lines in Forex Trading
The trend line break is a reversal where the market moves through the trendline and starts moving in opposite market direction.
Forex Up Trend - Trend Line Break Strategy
When a up trend-line is broken then sentiment of the market reverses and becomes bearish
Forex Upward Trend-Line Break
How to Add Trend-Lines & Strategy of Trend-Lines in FX Trading
Forex Down Trend - Trend-Line Break Strategy
When a down trend-line is broken then sentiment of the reverses and becomes bullish
Forex Downward Trend-Line Break
How to Add Trend-Lines & Strategy of Trend-Lines in FX Trading
NB: for very strong trends, after this trend-line break reversal signal, the price will consolidate for some time before moving in opposite trend direction. For short term market trends then this trend line break reversal signal will mean price may reverse immediately.
