Best Trend Confirmation Indicator Gold

How to Draw Trendlines on Meta Trader 4 Platform

The MetaTrader 4 platform provides trend-line drawing tools for drawing the trend lines in MetaTrader 4 charts. To draw a trendline on a chart in Meta Trader 4 platform, traders can use Meta Trader 4 trendline drawing indicator tool provided on MT4 platform that is shown on the example illustrated & explained below.

Best Trend Confirmation Indicator Gold

How to Draw Trend Lines in MetaTrader 4 - No Nonsense Trend-Line Indicator

To draw a trendline on a chart - just click MT4 trendline plotting tool shown above on the MetaTrader 4 platform & choose point A where you want to start drawing the trend-line & then point B where you want the trend-line to touch. You also can right-click on a trend-line and on the trend line properties option select the option to extend the ray by ticking "ray check box", if you don't want to extend the trend-line, then untick/uncheck this option in your Meta Trader 4 software - trend-line properties. You also can adjust other trend line properties such as trendline color and trend line width on this trend line property pop up panel of the trend line properties. You can download MetaTrader 4 software and learn how to draw a trend-line.

No Nonsense Trend-Line Indicator

The two technical analysis strategies used to trade trend-lines are:

1. Gold Trendline Break
2. Trendline Bounce

trading analysis of these two trend-line strategies is explained in the examples below:

Best Trend Confirmation Indicator Gold - No Nonsense Confirmation Indicator

trend-line bounce - this is a trend continuation signal where the price bounces from the trend line & continues heading in same direction as that of the trend.

No Nonsense Trendline Indicator

• In a upward trend the price will bounce & move upwards after hitting this upward trend line level which is the support level.

XAUUSD Up-wards Trend - Trend-Line Bounce - Price Support Level Provided by the Up-ward Trend Line

Upwards Trend - Trendline Bounce Analysis - Best Trend Confirmation Indicator Gold

No Nonsense Trend-Line Indicator

• In a downward trend the price will bounce and move downwards after touching this downwards trendline which is the resistance area.

XAUUSD Downwards Trend - Trend-Line Bounce after Touching Resistance Zone Provided by the Down-wards Trend Line

XAUUSD Downwards Trend - Trendline Bounce Analysis - Best Trend Confirmation Indicator Gold

Best Trend Confirmation Indicator Gold - No Nonsense Confirmation Indicator

trend-line break this is a trend reversal where the price goes through the trend line & begins to move in the direction opposite of current trend.

Analysis of Trendline Break

When a upward trend line is broken then trend reverses and becomes bearish - starts heading downward

Upward Trend Line Break - Best Trend Confirmation Indicator Gold

Analysis of Trend-Line Break

When a downwards trend line is broken then trend reverses and becomes bullish - starts moving upwards

XAUUSD Downward Trend Line Break - Best Trend Confirmation Indicator Gold

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• How to Analyze Chandes Trendscore Trading Indicator Buy Forex Trade Signal
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• MetaTrader 4 William Percentage R XAU/USD Indicator Analysis
• How Stochastic Indiicator Works in Trending Gold Markets, Range XAU USD Markets