ShmenTrendline indicator automatically draws trend lines on all pairs and time-frames depending on the minimum amount of touch points and tolerance between the trend line and a bar chosen. Three trend lines automatically drawn on GBPUSD hourly time-frame Adjustable variables Mintouchp; Minimum bars in line for a trend line. Lookback; Number of candles to calculated trend lines from. Shortest; Shortest line allowed, measured in bars. Breaktime; Number of the most recent bars to neglect in order to better see a breakout. Maxlines; Maximum allowed number of drawn trend lines on the same chart. Tol; Tolerance allowed for spillover and touch points. TolP; Period of bars used for the calculation. MinD; Minimum distance allowed from line for each candles rebound. Anglefilter; "True" value will result in upper lines to be drawn downward and lower lines drawn upward only. Maxage; Maximum bars in the past allowed for the last touch point
How to install your indicator on MT4 platform: 1. Click on Download button above; 2. Save the the file to your computer; 3. Move the .mq4 files into the following folder : meta traderexpertsindicators; 4. Restart your Metatrader platform; 5. Click “Indicators” button in Metatrader toolbar; 6. Select “Custom”; 7. Search and select “ShmenTrendline”; 8. Adjust settings or press OK to add the indicator to your selected chart; Note: ShmenTrendline indicator is developed by Bendo and was sent by an AtoZForex follower from the United Kingdom, Andrew. AtoZForex does not carry any copyrights over this trading tool. Do you have a reliable indicator or EA? Would you like to share it with our users?