Trendline EA Guide

The FXTT Trendline EA for MT4  is a robot that helps you trade using the trendlines drawn on your chart. You only have to change the description of the trendline to the action that you wish to perform and the robot will do the rest.

Available Features:

  • Open Orders (Buy/Sell)
  • Close Orders
  • Send Alerts
  • Manage Open Orders
    • Move to Breakeven
    • Trailing Stop
How it works
Buy commands
Sell Commands
Open parameters
Close Commands
Close Parameters
Alert Commands
Break-even
Trailing Stop
Lot sizing
FAQ
Examples

How it Works

trendline ea guide

1. Install the Trendline EA

To install the file manually you must follow these steps:
1 – Download the EA file ​​(Keep note of the location of where you saved it.)
2 – Navigate to the Experts folder of your Metatrader 4.
(You can easily find this folder by opening your Metatrader 4 and selecting the menu option: File => Open Data Folder and then opening the folder \MQL4\Experts)
3 – Next you need to copy (or move) the file into the Experts folder. A pop-up requesting admin permission may appear; if so, just click Continue.
4 – Restart your Metatrader 4. The EA should now appear inside your Experts  window.

2. Attach the Trendline EA to your Chart

Attach Trendline EA to chart 

3. Draw your trendline & add your Command

4. The Trendline EA will trade for you

Buy Commands

This is the list of available commands for Buy orders:

  • Buy on Touch
  • Buy on Breakout
  • Buy on False Breakout
  • Buy on Pullback

1. Buy on Touch

Will open a Buy order whenever price touches the trendline

  • Available Commands:
    • BoT
    • BuyOnTouch
  • Example

Buy on touch example

2. Type of Buy- Ask vs Bid (option)

—

 

3. Buy on Breakout

Will open a Buy order whenever the current candle closes on the other side of the Trendline.

  • Available Commands:
    • BoB
    • BuyOnBreakout
  • Example:

4. Buy on False Breakout

Will open a Buy order whenever a candle crosses the Trendline and comes back.

  • Available Commands:
    • BoFB
    • BuyOnFalseBreakout
  • Example:

5. Buy on False Breakout – Min Distance (option)

Defines the distance that price must get away from the Trendline in order to be considered a false breakout.

How it works:

Option:

Example:

6. Buy on Pullback

Will open a Buy order whenever a previous candle crossed the Trendline, but price returned to touch the Trendline on the current candle.

  • Available Commands:
    • BoPB
    • BuyOnPullback
  • Example

Sell Commands

Types of Sell Orders

  • Sell on Touch
  • Sell on Breakout
  • Sell on False Breakout
  • Sell on Pullback

1. Sell on Touch

Will open a Sell order whenever price touches the trendline

  • Available Commands:
    • SoT
    • SellOnTouch
  • Example

2. Sell on Breakout

Will open a Sell order whenever the current candle closes on the other side of the Trendline.

  • Available Commands:
    • SoB
    • SellOnBreakout
  • Example

3. Sell on Breakout – onClose/OnDistance (option)

4. Sell on False Breakout

Will open a Sell order whenever a candle crosses the Trendline and comes back.

  • Available Commands:
    • SoFB
    • SellOnFalseBreakout
  • Example

5. Sell on False Breakout – Min Distance (option)

Defines the distance that price must get away from the Trendline in order to be considered a false breakout.

How it works

Option

Example

6. Sell on Pullback

Will open a Sell order whenever a previous candle crossed the Trendline, but price returned to touch the Trendline on the current candle.

  • Available Commands:
    • SoPB
    • SellOnPullback
  • Example

Open Parameters

These are the parameters that you can add to your open commands

  • Stop Loss
  • Take Profit
  • Volume

Each Trendline can only have 1 unique type of parameter. You cannot repeat parameters. Ex:

  • BoT SoT v:0.01 sl:50 tp:250 -> CORRECT
  • BoT BoT v:0.01 v:0.05 -> INCORRECT

1. Stop Loss

Defines the Stop Loss (in points) of the order opened by the Trendline.

  • Available Commands:
    • SL:
    • StopLoss:
  • Example

Note: If no Stop Loss is defined on the trendline, the EA will use the value defined in the settings. However, if defined, the parameter takes precedence over the option configured in the EA settings

2. Take Profit

Defines the Take Profit (in points) of the order opened by the Trendline.

  • Available Commands:
    • TP:
    • TakeProfit:
  • Example

3. Volume

Defines the Volume of the order opened by the Trendline.

  • Available Commands:
    • v:
    • vol:
    • volume:
  • Example

Close Commands

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1. Close all Orders

Will close all open orders whenever price touches the trendline

  • Available Commands:
    • CaO
    • CloseAllOrders
  • Example

2. Close all Buy orders

Will close all open buy orders whenever price touches the trendline

  • Available Commands:
    • CaB
    • CloseAllBuy
  • Example

3. Close all Sell orders

Will close all open Sell orders whenever price touches the trendline

  • Available Commands:
    • CaS
    • CloseAllSell
  • Example

Close Parameters

These are parameters that you can add to your close commands

  • atclose
  • volume

1. Close order on Close of candle

Will close all open orders whenever the current candle closes on the other side of the Trendline.

  • Available Commands:
    • atclose
  • Example

2. Close with partial volume

Will close only partial volume of the open order

  • Available Commands:
    • vol:
  • Example

Alert Commands

Commands that send an alert whenever certain events happen.

1. Alert on Touch

Will send an Alert whenever price touches the trendline

  • Available Commands:
    • AoT
    • Alert
    • AlertOnTouch

2. Alert on Breakout

Will send an Alert whenever the current candle closes on the other side of the Trendline.

  • Available Commands:
    • AoT
    • AlertOnBreak
    • AlertOnBreakout

3. Alert on False Breakout

Will send an Alert whenever a candle crosses the Trendline and comes back.

  • Available Commands:
    • AoFB
    • AlertOnFalseBreakout

4. Alert on Pullback

Will send an Alert whenever a previous candle crossed the Trendline, but price returned to touch the Trendline.

  • Available Commands:
    • AoPB
    • AlertOnPullback

Break-even (option)

Will move the Stop Loss once to a predefined value whenever price reaches a certain target.

1. Break-even Options

  • Options:
    • Minimum Profit required (in points)
    • Lock Profit (in points)

Breakeven - Options

2. Minimum Profit Required

The minimum amount of profit that the trade needs to reach to move the Stop Loss.
(This value should be bigger than the Lock Profit)

Examples:

    • Minimum Profit required: 50
      (As soon as price reaches a profit of 50 points the Stop Loss will be set to 10 points)Breakeven - Options
      Breakeven 50-10
    • Minimum Profit required: 250
      (As soon as price reaches a profit of 250 points the Stop Loss will be set to 10 points)Breakeven Settings 250
      Breakeven Example 250

3. Lock Profit

If the trade reaches the Minimum Profit Required, the Stop Loss will be moved to lock this amount of profit.

(This value should be smaller than the Minimum Profit Required.)
If the trade reaches the Minimum Profit Required, the Stop Loss will be moved to lock this amount of profit.
(This value should be smaller than the Minimum Profit Required)

Examples:

    • Lock Profit: 10
      (As soon as price reaches a profit of 250 points the Stop Loss will be set to 10 points)

      Breakeven Settings 250
      Breakeven Example 250

    • Lock Profit: 100
      (As soon as price reaches a profit of 250 points the Stop Loss will be set to 100 points)

      Breakeven Lock Profit setting 100 Breakeven Lock Profit 100

Trailing Stop

Will adjust the Stop Loss continuously whenever price increases by a certain amount.

1. Trailing Stop Options

  • Options:
    • Trailing Stop (in points)
    • Minimum Profit required (in points)
    • Trailing Stop Step (in points)

Trailing Stop Settings

2. Trailing Stop

The amount in points to trail behind price

Trailing Stop Settings example

Trailing Stop example

 

3. Minimum Profit Required

The minimum amount of profit that the trade needs to have to start moving the Stop Loss.

Trailing Stop Settings 250-200-10

Trailing Stop Example 250-200-10

4. Trailing Stop Step

Will adjust the Stop Loss whenever price increases by this amount.

Trailing Stop Settings

Trailing Stop Settings 250-200-100

Lot Sizing

Will use the size defined in the option to open the order.

1. Default Lot Size (option)

Will use the size defined in the option to open the order.

2. Use Risk Percent (option)

Will calculate the volume based on the risk percent that was configured in the option and the distance to the stop loss.

FAQ

Frequently asked questions about the Trendline EA

1. Is the Trendline EA fully automatic?

No. The EA requires that the Trendlines are drawn manually.

2. Can I turn off my computer?

No. MT4 must be running with the EA on a chart.

3. Are the commands case sensitive?

No.

4. Can 1 Trendline have multiple commands?

Yes, but none that repeat.

5. Does the EA only trade while the line is drawn?

Yes.

Trading involves substantial risks. Forex trading is risky, and most traders lose money. Past performance is not necessarily indicative of future results. 

Run these robots on a demo account first. Run the robots in an account that is COMPLETELY separate from your discretionary trading. Run the robots with a TINY TRADE SIZE at first, because something can go wrong, and you do not want to have huge losses. There is plenty of time to increase trade size later.

Ready To Get Started?

Buy the Trendline EA now