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Forex Trendline Break System

Jul 22, 2019
Forex Trendline Break System

You can now download the Forex Trendline Break System for free on AtoZ Markets indicators gallery.

This system is a breakout system. We are going to use trend lines and Fibonacci levels. Trend lines simply represent the direction of the market. In uptrends, the line should be drawn below the price. Connecting at least 2 lowest lows. The more lowest lows and higher highs the trend creates, the more valid and powerful it becomes. In the case of downtrends, the line should be drawn above the price. Connecting at least 2 lower highs. The lower highs and lower lows the trend creates, the more valid and powerful it becomes.

Indicators:

  • Breakout Trendline

Timeframe: any

Currency Pair: any

Trading Session: any

How to trade with Forex Trendline Break System?

Long Entry

1 – the Main Trend is Up
2 – Inner Trend is Down
3 – Breakout in the direction of the main trend
Attach Fibonacci levels to the last wave, 0 levels on the low and level 100 on the high.
Entry-level = Fibonacci level 100
Stop-loss level = Fibonacci level 0
Targets = Fibonacci levels 161 – 261 and 423

Short Entry

1 – the Main Trend is Down
2 – Inner Trend is Up
3 – Breakout in the direction of the main trend
Attach Fibonacci levels to the last wave, 0 levels on the high and level 100 on the low.
Entry-level = Fibonacci level 100
Stop-loss level = Fibonacci level 0
Targets = Fibonacci levels 161 – 261 and 423

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the top right corner of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select “Forex Trendline Break System” template to apply it on the chart.

 

Note: This indicator was developed by T. Morris. AtoZ Markets does not carry any copyrights over this trading tool.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.