The Trendline Closing EA provides a mechanism for closing trades based on trendline analysis. The EA will close a trade if the price closes below a manually drawn lower trendline or above an upper trendline. It does not open trades; it solely manages the closure of trades that were either opened manually or by other EAs. The use of both upper and lower trendlines is required to avoid operational confusion.

Manual drawing of trendlines is recommended over automated trendline indicators.

Ensure the installation of Trendline Alert V1 from the provided source to enable this functionality. The EA operates on a once per bar basis, so keep the chart on the desired timeframe for the bar closure.
#MQL5 #MT5 #EA #Trendline

Read more...

The post delves into the development of a Price Action Analysis Toolkit featuring a pivotal tool called the ZigZag Analyzer. This innovative tool employs the ZigZag indicator to efficiently draw trend lines by identifying key swing points, a vital aspect of technical analysis across various markets. MetaTrader 5 developers will appreciate the flexibility of MQL5, allowing the creation of adaptive trading systems. The article provides detailed insights into the system’s algorithm, focusing on efficient resource handling, accurate trendline and support/resistance drawing, and real-time adaptability. This technical prowess leads to clear actionable market insights beneficial for traders aiming for precise analysis and decision-making.

👉 Read | NeuroBook | Share!

#MQL5 #MT5 #Trendline