Breakout Trend Lines

Breakout Trend Lines

An indicator that draws a line on the high and low prices, as well as sloping trendlines. A trend line break, high or low is usually reported about the change (or continuation) of the trend. Once the price is out of line, and the candle closes, the indicator signals the arrow (also, you can turn notifications). This indicator is very simple to use, but nevertheless, there are many trading strategies, which are based on a break of trend lines. The number of candles to determine the trend lines, as well as the maximum and minimum trading range can be adjusted.

Options

  • TradingRange – the number of bars of the trading range, which will be determined by the highs and lows;
  • Distance – minimum distances from one maximum (minimum) to another to construct the trend lines;
  • Shift – shift for determining a breakthrough concerning trading range;
  • EnableAlert – enabling and disabling alerts (true – enabled);
  • TrendLinesColor – color trend lines.

Breakout Trend Lines

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