Types of Technical Trend Indicators - Types of Forex Trend Indicators

How to Draw Forex Trend Lines on MT4 Platform

The MT4 platform provides forex trendline drawing tools for drawing the trendlines in MetaTrader 4 charts. To draw a forex trendline on a forex chart on MT4 software, forex traders can use MT4 forex trend-line plotting tool provided in MT4 platform that is shown on the forex example below.

Forex Trend Line Technical Indicators for Intraday Trading - Types of Forex Indicators

How to Draw Forex Trendlines in MT4 - Types of Technical Trend Technical Indicators - Types of Forex Trend Indicators

To draw a forex trendline on a forex chart - just click the MT4 forex trend line plotting tool shown above on the MT4 platform & choose point A where you want to start drawing the trendline and then point B where you want the trendline to touch. You can also right click on a forex trendline and on the forex trendline settings option select the option to extend the ray by ticking the "ray check box", if you do not want to extend the trendline, then uncheck this option in your MT4 platform - forex trendline settings. You can also adjust other forex trendline settings such as forex trend line color & forex trend line width on this forex trendline property popup window of the trendline settings. You can download MetaTrader 4 platform & learn how to draw a forex trend line.

Forex Trend Lines with Examples - Types of Forex Trend Indicators

The two technical analysis forex strategies used to trade forex trend lines are:

1. Forex Trend-line Break
2. Forex Trend Line Bounce

Forex technical analysis of these two forex trendline strategies is explained in the forex trading examples below:

Example 1: Technical Analysis Forex Trend Lines - Forex Trend Line Technical Indicator

Forex trend line bounce - this is a forex trend continuation signal where the price bounces from the trendline and continues moving in same direction as that of the forex trend.

Trend Line Bounce - Types of Forex Trend Indicators

• In an upward forex trend the forex price will bounce & move upwards after hitting this upward trendline level which is the support level.

Forex Upwards Trend - Forex Trend Line Bounce - Forex Price Support Level Provided by the Upward Trend Line

Forex Upwards Trend - Trend Line Bounce Technical Analysis - Forex Trend Line Technical Indicators

Trend Line Bounce - Forex Downwards Trend - Types of Forex Trend Indicators

• In a downwards forex trend the forex price will bounce and move downwards after touching this downwards trend-line which is the resistance area.

Forex Trading Downwards Trend - Forex Trend-Line Bounce after Touching Resistance Level Provided by the Downwards Trend Line

Forex Downwards Trend - Trend Line Bounce Technical Indicator Analysis

Example 2: Forex Trendline Break Technical Analysis Forex Trend Lines

Forex trend line break this is a forex trend reversal signal where the price goes through the trendline and then starts to move in the opposite direction of the current forex trend.

Forex Upwards Trend - Technical Analysis of Forex Trend-Line Break

When an upward forex trendline is broken then forex trend then reverses & becomes a bearish forex trend.

Forex Upward Trendline Break - Forex Trend Line Technical Indicators for Intraday Trading PDF

Forex Downward Trend - Technical Analysis of Forex Trendline Break

When a downwards forex trendline is broken then forex trend then reverses & becomes a bullish forex trend.

Forex Downward Trendline Break - Forex Trend Line Technical Indicators - Trend Indicators