Here you will find a set of three LRC indicators which automatically draw trend lines and support and resistance levels on your chart.
LRC Forex indicators belong to the trend category and are presented in three versions. All indicators of the LRC family take into account the linear regression coefficient when calculating lines, thereby increasing the speed of reaction to price reversals and eliminating the lag typical to other trend indicators.
LRC Channel D1 Indicator
The LRC Channel D1 indicator displays the daily trend regardless of the used timeframe. The indicator draws the median line, high and low of the current trend (dotted lines), as well as breakout lines (solid red lines), crossing which increases the likelihood of a price reversal.
It is similar to the LRC Channel D1 Forex indicator, except that it displays not a daily, but an hourly trend.
The LRCpath indicator displays semicircular lines (path) on the price chart, which are an alternative to support and resistance levels.
This set of LRC Forex indicators, by eliminating the lag, can become an effective element of any Forex trend strategy.
Features of LRC trend lines indicators
- Platform: Metatrader 4
- Ability to change settings: No
- Timeframe: any from M15 to Daily
- Currency pairs: any
In LRC-trendlines.zip file you will find:
Download LRC trend lines MT4 indicators for free: