Tipster Trendlines for MT4

I've written Tipster Trendlines for MT4 that attempts to model the original version for Amibroker. MT4 doesn't allow many of the features I've implemented in Amibroker but it's a lot less coding too, so that offsets the pain of coding. For example, it is very difficult to place buttons on the chart, so I tried using hot keys, and that didn't work.

I had a hot key to re-draw the lines and enable the lines for trading but that impacted every open chart. So I've adapted a different approach. You can follow my progress on Forex Factory forum, and here.

Some different features are available though;

Close of trade triggers a screenshot and saves it to your hard disk.

Sloping trendlines can be used, the prices are updated with each new bar. This means you can trade breakouts of sloped lines, or touches (stop and limit orders).

If you know how to program MT4, I welcome your comments here or on the forum.

... and I've been using Tipster Trendlines for MT4, the results of my trades are shown on the right side of the blog.

USDJPY

In the coming weeks I'm going to be following the forex pair USDJPY from a purely technical perspective. It has been said that the government may step in to balance the currency as it approaches the low it set in April 1995. Below is the chart I've marked up with trendlines and the 1995 support zone.

I will be trading two different timeframes, the daily (with the weekly as reference) and the 4 hour. The four hour will attempt to capture small moves. The daily, I'll be looking to enter in the blue zone on a retracement. I'll be using my IB account for the longer term trades and MT4 with my forex broker for the smaller moves.

Tipster Trendlines FAQ

Just in case you weren't aware, there is a FAQ on Tipster Trendlines.

Here's the link

Tipster Trendlines FAQ