Watch the testing video here:
Trendlines LNX Indicator MT4
Introduction to the Trendlines LNX Indicator
The Trendlines LNX indicator is a forex indicator for Metatrader 4 that automatically draws the most important trendlines on the trading chart for the following timeframes: 15-minute, hourly, 4-hour, daily and weekly.
The LNX indicator uses different colors for each trendline depending on the timeframe, for example, the 15-minute trendlines use blue colors, while the hourly trendlines use red colors.
The basic concept of trading with LNX trendlines is really easy to understand:
- Look for buying opportunities when the price touches support trendlines and clearly react at these levels.
- Look for selling opportunities when the price touches resistance trendlines and clearly react at these levels.
Important tip: Trendlines placed on the higher timeframe’s carry more weight than trendlines placed on the lower trend lines.
You can change all default trendline colors to your preferable colors directly in the indicator’s settings window.
How to set up the Trendlines LNX Indicator indicator in MT4?
Copy and paste the trendlines-lnx-indicator.ex4 or trendlines-lnx-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, that goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
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