Trendline EA

What is Trendline EA?

Trendline EA is an automated trading system that utilizes trend lines to identify and execute trades in the Forex market.

This EA is designed for MetaTrader 5, helping traders set up pending orders based on drawn trendlines.

It simplifies the manual effort of trading by automatically reacting when price reaches specified trendlines.

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How It Works

Traders manually draw up to three trendlines on their charts representing potential reversal points.

Once the price intersects the trendline, the EA triggers automatic buy or sell orders based on predefined rules.

Users can also set custom stop-loss (SL) and take-profit (TP) parameters to manage trades effectively.

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Features of Trendline EA

User-friendly setup: Attach the EA to your chart and start drawing trendlines.

Customizable parameters, enabling adjustments based on individual trading strategies.

Ability to trade off support and resistance levels, not just trendlines, making it versatile in different market conditions.

Alerts and notifications: Get notified when prices reach critical levels, allowing for prompt responses.

Comparing Trendline EA Variants

Trend Line Reverse EA: Focuses on reversing price actions, offering manual traders better control over trade execution.

FXTT Trendline EA: Provides functionalities to set pending orders using trend lines, which MetaTrader doesn't allow by default.

Free TrendLine EA: Fires trades based on user-drawn trend lines, ideal for traders who prefer a simple trading mechanism.

User Experience and Feedback

Many users report that using trendlines simplifies trading decisions and enhances discipline.

Some appreciate the automatic nature of execution, highlighting reduced emotional trading and improved consistency.

Others note the importance of adjusting settings to match personal risk tolerance and trading style for optimal results.

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Breaking TrendLine 5

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Easy Rating: 0/0

MQL Rating: 0/13

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Release Date: 13/05/2023

Trendline EA

MT4 Utilities

Easy Rating: 0/0

MQL Rating: 4.55/12

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Release Date: 14/08/2017