Introducing a new trend line EA tool launched for the forex Meta-trader 4 trading platform.
You draw lines in the chart manually and when the price breaks across or touches the line, the action will instruct EA to execute a trade entry. Forex users can open market orders or outstanding orders with this EA.
The trend line drawn can be horizontal, vertical lines or any one between them. Lines drawn with any gradient can still act as a pending order. This feature is very useful in channel or trend trading, since this powerful feature is not found in the standard function of the Meta-Trader 4 trading platform.
Drawing a pending order
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 purchase order can be as easy as entering & # 39; BUYING & # 39; In the line description and when the price breaks or touches the Line, a commercial entry will be immediately executed. If you like to have a pending sales order, enter "SELL" to make the line of a pending sales order.
Once the line has run a trade, it will expire and crash. Therefore, any line can only be used once.
An additional advantage of a draw line Pendant is that the user can easily drag the trend line around the chart, and the pending order will be moved to the new location.
In addition to drawing a pending order, you can also add single or multiple partial closing lines on the chart. When you mark these rows for the specific pending order, these newly added partial close rows will be associated with the order ticket number executed by the checked pending line item.
You can also draw your own stop loss lines, take profit lines, partial close and stop loss for balance lines.
The stop-loss line for breakeven is the action of changing the stop-loss level to the entry price of the trade when the price enters or touches that line. This action causes the trade to trade without loss.
This expert advisor is a very efficient tool for forex traders because it literally trades on behalf of the user, thereby reducing any trading stress. Forex traders can use this tool to trade many technical chart patterns. It makes forex trading easier than before. If you can draw some lines on the chart, it will run by itself. It is a total commercial freedom for the user as there is not really much to do once you have prepared the chart for the day.
Trendline EA is a semi-automated and designed especially for manual forex traders. What people need to realize is that this software is just as good as the merchant's technical analysis capability and business experience.
It seems like putting a few lines on the chart and go away, a trader could now make money with Forex trading Although this tool has made this a possibility, however, developers do not think that way.
Developers want to enable marketers with full trade entry and exit execution. This will allow greater control over the entry and exit of currencies and hence give rise to the use of more sophisticated forex trading system. Power happens when you can put all these systems to work in automation by releasing you more time to study the market.
But honestly, if you can draw a line, you can make money as you apply knowledge of market volatility, support and resistance, price action and money management in your forex trading with this software .
Trend Line EA is a software that helps the manual trader automates their forex trading strategy. The user should draw trend line on the chart and EA run the business for it.
Source by Warren Seah