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ShmenTrendline indicator for MT4

May 03, 2018
ShmenTrendline indicator for MT4

ShmenTrendline indicator automatically draws trend lines on all pairs and time-frames depending on the minimum amount of touchpoints and tolerance between the trend line and a bar chosen.

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. Max lines; Maximum allowed number of drawn trend lines on the same chart. Tol; Tolerance allowed for spillover and touchpoints. 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 ShmenTrendline indicator on MT4

How to install your indicator on MT4 platform:

1. Click on Download button below;

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2. Save the file to your computer;

3. Move the .mq4 files into the following folder : meta traderexpertsindicators;

4. Restart your Metatrader platform;

5. Click the “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 AtoZ Markets follower from the United Kingdom, Andrew. AtoZ Markets does not carry any copyrights over this trading tool.

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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.

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