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Forex Trend Lines Day Indicator
The Trend Lines Day forex indicator for Metatrader 4 is a great price action based trend line breakout indicator.
This indicator draws only two trend lines on the chart, one trend line to buy above and one to sell below.
As can be seen on the GBP/USD H1 chart below, the resistance trend line is colored red while the support trend line is colored magenta.
How to trade trend line breakouts?
For buy trades: wait until price breaks and closes above the resistance trend line. This is the signal to go long.
For sell trades: wait until price breaks and closes below the support trend line. This is the signal to go short.
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