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MT4 Trend Line EA – Trend Trading and Breakout Made Easy

Introducing a new released trend line EA tool for Meta-trader 4 forex trading platform. This software comes with sales and technical support for its community.

How TrendLine EA works

Draw lines on the chart manually and when the price breaks or touches the line, the action will prompt the EA to execute a trade entry. Forex users can open market orders or pending orders with this EA.

The trend line drawn can be a horizontal line, a vertical line, or anything in between. Lines drawn with any gradient can still act as a pending order. This feature is very useful in channel or trend line trading as this powerful feature is not found in the standard feature of the Meta-Trader 4 trading platform.

Draw a pending order

In order to program the drawn lines to make trade entries, the lines must have specific codes in their line description. You can easily refer to the guide to copy and paste the codes in the line description.

Placing a pending order to buy can be as easy as entering ‘BUY’ in the line description and when the price crosses or touches the line, a trade entry will be executed immediately. If you wish to have a pending sell order, enter ‘SELL’ to convert the line to a pending sell order.

Once the line has executed an operation, it will expire and stop working. Therefore, any line can only be used once. Trade entry rules such as stop-loss or take-profit levels, entry lot size and slippage can be pre-specified before the trade is executed.

Drag and drop

An additional advantage of a drawn line pending order is that the user can easily drag the trend line around the chart and the pending order will be moved to the new location. It almost works like dragging and dropping a pending order with this tool.

Trend Line EA Advanced Features

In addition to drawing a pending order, you can also add single or multiple partial closing lines on the chart. By tagging these lines on the specific pending order, these newly added partial close lines will be associated with the order ticket number executed by the tagged pending order line.

You can also draw your own stop-loss lines, take profit lines, partial close, and break-even stop-loss lines.

The break-even stop-loss line is the action of changing the stop-loss level to the entry price of the trade when the price exceeds or touches this line. This action makes the trade lossless.

This expert advisor is a very efficient tool for forex traders because it literally trades on behalf of the user, reducing trading stress. Forex traders can use this tool to trade many technical chart patterns. It makes forex trading easier than ever before. If you can draw some lines on the chart, it will run itself. It is complete trading freedom for the user as there is really not much to do after you have prepared the chart for the day.

Expectations must be set correctly

Trendline EA is a semi-automatic EA specially designed for manual forex traders. What people should know is that this software is only as good as the trader’s technical analysis ability and trading experience.

It seems like putting some lines on the chart and walking away, a trader could now make money trading forex. While this tool has made this a possibility, however, the developers do not think this way.

The developers want to empower traders with full execution of entry and exit trades. This will allow more control over the inflow and outflow of currencies and thus lead to the use of a more sophisticated forex trading system. The power comes when you can put all of these systems to work on automation while freeing up more time to study the market. You don’t need to take care of the trades after that, unless you choose to do so.

But honestly, if you can draw a line, you can make money by applying knowledge of market volatility, support and resistance, price action, and money management to your forex trading with this software.

Trend line EA is software that helps the manual trader to automate their forex trading strategy. The user must draw the trend line on the chart and the EA executes the trades for him.

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