AIO Indicator — How to use Trendline
I would like to explain in detail about function Trendline of my All In One Price Action Indicator (TradingView) & give an example of how I use it to trade.
TRENDLINE
First, I think all of you traders have known/understood about trendline — one of the most popular tools in the trading world, you can find tons of articles about it on Google or YouTube.
I just want to keep it as simple as possible so the indicator has only 2 settings:
pivot left strength: default value is 10
Trendline uses High/Low by default but you can change to Close price if you want
Be careful, in my opinion, trend line should be used in combination with other factors/indicators like moving average, price action reading, multi-timeframes analysis.. to increase winning probability. The higher timeframe, the higher reliability. Actually, I trade intraday more, so I don’t use trend line much cause on the lower time frames trend line’s fake break (phantom trend line) appears many times.
Please read the full article about my AIO — All In One Price Action Indicator below for more information & other functions of my indicator.
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Nguyen Tran