Author: William Kreider (madhatt30)
If you’re trading on MetaTrader 4, you might want to check out the Trigger Lines indicator. Originally inspired by the indicators on NinjaTrader, these Trigger Lines have been adapted specifically for MetaTrader, making it a handy tool for traders like us.
This indicator is meant to complement your existing trading strategy. Think of the Trigger Lines as your market compass—they help pinpoint the market direction. Generally, the large Trigger Lines represent the bigger trend, or what we often refer to as the Higher Timeframe Trend, while the small Trigger Lines indicate the smaller trend, or what we call the Current Timeframe Trend.
When the price pulls back to these Trigger Lines, it can signal a great opportunity for entry. Keep in mind that the longer the price hovers near or breaches these lines, the weaker they become. This could hint at a potential change in market direction. It’s a good idea to look at the small Trigger Lines for fine-tuning your entry points.
I've come across other Trigger Lines indicators out there, but I find many to be off the mark. This one aligns closely with NinjaTrader, barring the usual broker price discrepancies, of course.
What’s great is that you can use these indicators across any standard timeframe, making them versatile for various trading styles.
- Helpful for identifying market trends
- Can be used on any standard timeframe
- Great for fine-tuning entry points
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