The FXTT Trendline EA (Expert Advisor) for MT4 (Metatrader 4) is a robot that helps you trade using the trendlines drawn on your chart. This robot allows you to set pending orders using inclined lines while Metatrader does not allow you to do this by default.
What is it not?
This is not an automated trading robot that will work without user intervention. This robot will not take any trades unless you specifically instruct it to.
How it works
Open your chart.
Draw your trendlines,
On the properties page of the trendline, define the desired action to take.
Go about your day.
Trendline EA Features
You only have to change the description of the trendline to the action that you wish to perform and the robot will do the rest.
Open Buy/Sell order
Close Buy/Sell/All orders
Set Lot size, Stop Loss and Take Profit upon opening of order
Perform action upon event:
Here are some examples of supported actions:
Even more features
Supports multiple trendlines on the same chart.
Alert when price reaches a trendline(with optional message)
Close (instead of opening, use a trendline to close orderson touch of trendline)
And several options available to configure the EA:
Allow one or multiple orders per trendline (open new order after close of the previous)
Customize Buy action triggers (when Bid or when Ask touches the trendline)
There are no back-testing results available because this MT4 Expert Advisor is a trading tool that does not work without user intervention.
Lifetime technical support
Free software updates
Expert Advisor file
I know you’ll love this robot as much as I do. In fact, if for any reason you’re not completely satisfied, just contact me and I’ll issue a full refund.
Using a robot carries risk. Please check the documentation guide before using this robot on a live environment. You should test it on a demo account FIRST to understand how it works. All updates and support issues are free of charge and available to all users. Any suggestions or issues please don’t hesitate to contact me
Is it possible for the same trendline to take multiple commands? R: Yes, it is possible. The EA supports multiple commands for each trendline. For example, it can be something like this: “CaS BoT SoB“
If I take a manual trade, can I afterwards use a trendline to close the trade? R: Yes, if you configure your EA to have the Magic Number as 0, you can use it to close manual trades.
What is the purpose of the “Buy Type” option in the EA? R: This option refers to the detection of the touch of the trendline in order to trigger a Buy order. Basically you can choose if the touch is considered when the Bid touches the trendline, or when the Ask touches the trendline. Like this:
Version 1.120 (2018.04.04)
Fixed bug where CaO command would close orders on all charts
Added Money management & RiskPercent
Added ability to change the Minimum line distance
Version 1.83 (2017.12.19)
Implemented new action: Buy/Sell on False Breakout
Version 1.70 (2017.11.02)
Added feature to allow multiple actions per line.
Added “ReentryType” option that allows multiple entries per line.
Added “BuyType” option to choose the detection of BUY actions (on ASK or on BID).
Added Alert options for Popup, Email, Push Notification and Sound
Fixed bug where horizontal lines would not trigger the defined actions