Perfect Trend Line Indicator for MT4 | Free Download
Perfect Trend Line Indicator
The Perfect Trend Line Indicator is a very simple looking indicator that is overlaid on the price chart.
It comprises of two lines, with dots above or below the price, based on the swing high and low points.
You don’t have to draw any trend lines using this indicator but depending on the settings the dots may vary.
The Perfect Trend Line Indicator helps you to go long or short depending on when and where the dots appear on the chart.
In fact, if you use the trend line and connect the dots, you would be able to plot the trend lines automatically.
Trading with the trend line indicator is a short term, day trading strategy.
There are many different ways to trade using the Perfect Trend Line Indicator.
Here, we show you a unique way of trading with this indicator.
When to go long using the Perfect Trend Line Indicator
To initiate long positions, first wait for the blue dot to appear on the chart.
Then, wait for the price to close above the green dotted line.
You can set a pending buy order at this level already.
When to Exit Your Long positions
You should exit the long position at a risk/reward ratio of 1:2 and 1:3.
Quite commonly, the Perfect Trend Line Indicator hits the 1:2 risk/reward level.
But at times price will not move to hit the 1:3 risk/reward level.
Therefore, open two positions and book first profit at 1:2 and then move your remaining position to break even targeting the 1:3 reward level
When to go short using the Perfect Trend Line Indicator
To go short, wait for the red dot to appear above the price. Then set a pending sell order close to the red dotted line.
When to exit short positions
Exit the short position partially at the 1:2 risk/reward level.
And then after this, move your trade to breakeven and then wait for the 1:3 take profit level to be reached.
Where to set the stop loss using the perfect rend line indicator
Stop losses for the Perfect Trend Line Indicator can be set to the swing high or low point that formed before the red or the blue dot.
This will be a good level and based on this, you can set up the risk/reward level quite easily.
Increasing the Win/Loss Loss Ratio
When you add the Perfect Trend Line and use together with a proven system like the Elite Swing Trader System or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
The Perfect Trend Line Indicator is very simple if you are struggling to trade with trend lines.
There are no additional indicators needed.
Simple add the indicator and set your trades to the 1:2 and 1:3 risk/reward levels.
If you are patient, this indicator can give you consistent rewards.
You can use this indicator on just about any time frame and in any market of your choice.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 for better consistency.
How to Install Custom Indicators on MT4 on Windows
How to Install Custom Indicators on MT4 on Mac OS
Visit our Free MT4 Indicator Download page.
We hope you have enjoyed this post as much as we have created this strategy post for you.
Good luck and thank you for your readership.
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