Trendline by Angle Indicator

Trendline by Angle Indicator

Trendline by Angle indicator for MT5 – Support and resistance indicator for MT5. Free MT5 trend reversal indicator. The best channel indicator for MT5.

The Trendline by Angle Indicator for MetaTrader is a custom indicator for Forex trading that draws a single slanted line with an angle in degrees. Basically, it draws a trendline at an angle that is in sync with the current market trend.

The idea is to help you identify trading opportunities within an indicator. It draws an evasive blue trend angle when the market is bullish and a red trend angle when the market is bearish. This means that the indicator, in some way, helps you to easily determine the tendency of the market to trend and trade in that direction.

In addition, this technical indicator can be used for various trading styles such as scalping, day/intraday trading, and swing trading. Moreover, it is recommended for beginners, intermediate and experienced traders.

How to Trade With Trendline by Angle Indicator

The screenshot above shows how the indicator will look on your MT5 chart. It also shows you how to identify a high probability setup and trade it. In addition, the indicator can be used in synergy with price action/or other technical indicators for greater effectiveness.

BUY and SELL signals. First, wait for the indicator to draw an evasive blue trend angle on the chart, which suggests a potential bullish move. Now wait for the price to form a channel within the indicator and show the wick failure on retest. You can then enter a BUY/LONG position after the price also forms a bullish candle.

The above BUY principle also applies to setup identification and SELL entry. You can refer to the above screenshot to better understand how to trade with the indicator.

Conclusion
The Trendline by Angle Indicator for MT5 is well suited for determining the market trend and trading according to the price movement. Finally, the indicator is free to download.