TrendLine PRO MT4

TrendLine PRO is an indicator for MetaTrader 4 that marks possible trend changes with arrows and works out stop loss and take profit levels for each signal. It is meant for traders who want a defined entry and exit plan drawn directly on the chart.

How it works

When the indicator detects a change in direction, it places an up or down arrow on the chart. Along with the arrow it calculates a stop loss and three take profit levels. A small dashboard on the chart shows a profit figure based on the signals in the loaded history, which you can use as a reference when comparing different settings.

A typical way to use the signals

1. Wait for an arrow to appear, then wait until the candle that produced it has closed.
2. Open a trade in the direction of the arrow. If your account and risk plan allow it, you can split the position into up to three orders, one for each take profit level.
3. Place the stop loss and take profit levels suggested by the indicator, or adjust them to your own rules.
4. When the first level is reached, close the first order and consider moving the stop loss on the others to the entry price.
5. Close the remaining orders at the second and third levels, or earlier if you prefer.

This is one possible routine, not a requirement. Position size, spread and slippage will change how it works in practice.

Markets and timeframes

The indicator reads the price history of the chart, so it can be attached to any symbol your broker provides in MT4, including currency pairs, metals, crypto CFDs, stocks and indices. It can be used on any timeframe. Shorter timeframes usually give more signals and are more affected by spread, while longer ones give fewer signals. Test the combination you intend to trade.

Settings

The exact list of inputs and their defaults can differ, so open the input window after attaching the indicator and read each option. The main ones are described below.

When adjusting Amplitude and the levels, change one value at a time and compare the dashboard figure across several periods rather than a single stretch of history. Over-fitting to past data is a common mistake.

Use with expert advisors

The indicator provides signal buffers, so a developer can read them with iCustom and build an expert advisor on top. Check the buffer indexes in the data window and verify the behaviour in the strategy tester before running any automation.

Risk

Installation

1. Open MT4 and choose File, then Open Data Folder.
2. Copy the indicator file into the MQL4 folder, inside the Indicators subfolder.
3. Restart MT4 or refresh the Navigator panel.
4. Drag the indicator from the Navigator onto a chart and set your inputs.
5. If you want alerts or an expert advisor to use it, make sure the relevant options and permissions are enabled in the terminal.