Draw trendline | FXON™

PC Draw trendline

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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can draw trendlines, trendlines by angle, and cycle lines. They are often used to read and analyze trends, momentum, and cycles of the market.

Here, we'll take a look at how to draw and set up the trendline, the most often used of the three lines.

Switch between MT4/MT5 tabs to check the steps for each.

Step 1

Trendlines can be displayed from the menu or toolbar.

Draw a trendline from the menu

Click "Insert" in the menu. Hover the pointer over "Lines" and select "Trendline".

Trendline

Trendline connects the low, high, or close prices to read the trend. The trendline will help you determine the direction and momentum of a trend.
Trend by Angle

Trendline by Angle is the trendline with a specified angle. The angle relative to the horizontal line will be displayed. Analyze the angle of the trend line to determine the strength of a trend.

Draw a trendline from the toolbar

Click the "Draw trendline" button on the toolbar.

Step 2

Click at the starting point of the trendline on the chart and drag to the end point.

Step 3

If you want to adjust the position of trendline, make sure the white dots are being displayed on the trendline and move each dot as necessary. If you cannot see the white dots, double-click near the trendline to display the white dots.

Number	Descriptions
1	Change the starting point of the trendline.
2	Change the position of the trendline.
3	Change the end point of the trendline.

Values displayed during drawing a trendline

Values displayed when dragging indicate the numbers of candlesticks and points from the starting point to the end point.

Step 4

To modify the trendline settings, right-click near the trendline and select "Trendline properties...".

Step 5

Edit the parameters of the trendline in the three tabs, "Common", "Parameters", and "Visualization", and click "OK".

"Common" tab

Number	Item name	Descriptions
1	Name	Name the trendline.
2	Description	The description can be displayed on the chart when hovering the pointer over the trendline.
3	Style	Set the color, line type, and line thickness for the trendline.
4	Draw object as background	Check this box if you want to place the trendline behind the chart.

"Parameters" tab

Number	Item name	Descriptions
1	Starting point position	Specify the starting point position by date and price.
2	End point position	Specify the end point position by date and price.
3	Ray	Check this box to extend the trendline.

Use "Ray" for future analysis

"Ray" is a parameter that can be set on an object such as a channel to extend the line beyond its end point. This makes it easier to analyze, as the line will be extended into the future, based on the price movement between the starting point and the end point at a certain point in time.

"Visualization" tab

On the "Visualization" tab, you can specify the timeframes to use the trendline with.

Internal trendline

Unlike conventional trendlines, internal trendlines can be used for different situations, such as highs and lows, closes and lows, and so on. While this provides a high degree of freedom, it can also be highly arbitrary.