Fast And Trend Specific Trades Made Easy With Trendline Trader EA

It is no secret that trendlines form the ideal trigger for successful trading moves, especially for newbie traders, who dabble in the foreign exchange market. Better still is the ability to have a robot taking the necessary steps based on trendlines that you have drawn out. Trendline Trader from EA coder is that one software that makes all of this possible.

Before you can actually see the Trendline Trader perform its magic, you will first need to provide it with reference trendlines that it can follow. Basically, this means drawing two lines on the chart that are horizontal in orientation. When this newly demarcated chart is provided as input to the software, it will follow the rise and fall to check when peaks cross any of the reference lines, which is when it performs the appropriate buy or sell action.

While many would be reminded of the Trendline Alert EA by looking at the primary description of Trendline Trader EA, both are different in the sense that the latter is able to initiate specific open or close trade functions based on what trendline is crossed. In order to get the chart ready for use by the software, you will merely have draw the horizontal lines using the drawing tools provided in Metatrader 4 and then affix each line with its requisite function.

The first course of action taken by Trendline Trader one it detects the lines is change their colors. Then, it sets out tracing the chart looking for when the cross is made, at which time is initiates a requite trade action. It also goes about with its many ways of alerting the owner of the change by playing a sound and even sending an email alerting the trader of such an action. A change in color from the previous colors will tell you if there was a crossing.

Being a Metatrader 4 compatible software, a single license is effective for one actual account while it can be used on any number of accounts used for demonstration purposes. Since it works with two demarcating lines of reference (trendlines), a low trendline crossing will instigate it to open the trade whereas the software automatically closes trade upon high trendline crossing.

One of the breakthrough features provided in Trendline Trader is to understand and hence initiate trade actions in the event of an actual breakout. For instance, say the trendline is only touched but not crossed, in which case the software redraws the lines at their original positions and waits for an actual crossing. This is known as the Smart Breakout feature in the software.

WaitForCandleClose and UseMoneyManagement are a couple more aspects of the software that lend to its superior artificial intelligence. When activated, the former can help the EA in deciding the appropriate lot size to trade on, while the later empowers the application to judge if trendline is crossed by looking to see if the candles are closed.

To sum it up, the Trendline Trader proves indispensible in situations when you are not physically present to make the trade based on certain trends. As such, you can draw trendlines that the application can follow and make the respective trade for you in your absence.

Let Your Trades Automatically Follow Trends with the Trendline Trader. Just draw trendlines on the chart and the Trendline EA will do the rest.

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