About the Support Trend Line Forex Indicator
The Support Trend Line Forex Indicator for Metatrader 4 is a practical tool for tracking recent support levels in the market.
By analyzing price action, it draws the most recent support trend line directly on the chart, giving traders a visual guide for potential trade opportunities and risk management.
Displayed in the main MT4 chart window as a red trend line, the indicator helps traders quickly identify areas where price may find support.
Short-term traders, including scalpers and day traders, can use this line for placing stop losses on buy trades or planning breakout trades on the downside.
It can be used independently or combined with other trend and momentum tools to improve trade accuracy.
Free Download
Download the “LineFrakDown.mq4” indicator for MT4
Key Features
- Automatically draws the most recent support trend line
- The red line provides a clear visual reference for price support
- Useful for stop loss placement and breakout trade planning
- Applicable to all MT4 symbols and timeframes
- Supports day trading, scalping, and short-term strategies
- Easy-to-read chart display for quick decision-making
Indicator Chart
The chart example shows the Support Trend Line Forex Indicator applied to an MT4 chart.
The red line highlights the most recent support trend, providing a reference for potential entry points, stop loss placement, or breakout trades.
Guide to Trade with the Support Trend Line Forex Indicator
Buy Rules
- Enter a buy trade when price bounces off the red support trend line
- Use the line as a reference for stop loss placement below the support
Sell Rules
- Enter a sell trade if price breaks below the support trend line
- Consider using the break as a signal for a breakout trade
Stop Loss
- For buy trades, place a stop loss slightly below the support trend line
- For sell trades, place a stop loss above the recent resistance or the broken support
- Adjust based on market volatility and price structure
Take Profit
- Set take profit near previous swing highs/lows or key support/resistance levels
- Consider scaling out partial profits if price approaches strong reaction zones
- Let trades run if the trend remains intact and momentum supports the move
Practical Tips
- Avoid trading if the support line is flat or unclear
- Combine with momentum or trend indicators for confirmation
- Observe price reaction near the support line before entering trades
MT4 Intraday Strategy Using Support Trend Line and Wildan Trend System Indicators
This MT4 intraday strategy combines the key support levels identified by the Support Trend Line Forex Indicator with the trade signals of the Wildan Trend System Forex Indicator.
Designed for intraday trading, this strategy works best on 5-minute to 15-minute charts and is ideal for traders looking to capture short-term price movements while respecting key support levels.
The Support Trend Line indicator draws the most recent support on the chart in red, while the Wildan Trend System provides buy and sell signals via blue and red histogram bars.
Buy Entry Rules
- Confirm that the price is approaching or bouncing off the red support trend line.
- Wait for a blue histogram bar on the Wildan Trend System indicator, signaling a buy entry.
- Enter a buy trade at the market price once both conditions are met.
- Set a stop loss just below the support trend line or the most recent swing low.
- Set a take profit for 10–35 pips or near the next resistance level, depending on volatility.
Sell Entry Rules
- Confirm that the price has broken below the red support trend line, indicating a potential bearish move.
- Wait for a red histogram bar on the Wildan Trend System indicator, signaling a sell entry.
- Enter a sell trade at the market price once both conditions are met.
- Set a stop loss just above the broken support line or the recent swing high.
- Set a take profit for 10–35 pips or near the next support level.
Advantages
- Combines key support levels with trend confirmation for higher probability trades.
- Works effectively on intraday charts, offering multiple trading opportunities per session.
- Clear visual signals make it easier to spot entries and exits.
- Adaptable to various currency pairs, including EUR/JPY, AUD/USD, and USD/CHF.
Drawbacks
- Requires constant monitoring to catch intraday signals promptly.
- False breakouts below support can trigger premature sell entries.
- The strategy may underperform during sideways or choppy market conditions.
Case Study 1: EUR/JPY on 5-Minute Chart
On the EUR/JPY 5-minute chart, the price bounced off the red support trend line.
A blue histogram appeared on the Wildan Trend System indicator, signaling a buy entry.
The trade was entered at 142.50, with a stop loss at 142.40 and a take profit at 142.65.
The trade closed successfully with a 15-pip gain within 20 minutes.
Case Study 2: AUD/USD on 15-Minute Chart
On the AUD/USD 15-minute chart, the price broke below the red support trend line, signaling a bearish move.
A red histogram appeared on the Wildan Trend System indicator, confirming the sell entry.
The trade was entered at 0.6750, with a stop loss at 0.6760 and a take profit at 0.6735.
The trade reached the take profit target, netting 15 pips within 30 minutes.
Strategy Tips
- Always confirm the trend with the Wildan Trend System before taking entries near the support line.
- Use the support line as a reference for stop loss placement and risk management.
- Adjust take profit targets between 10–35 pips depending on volatility and currency pair behavior.
Download Now
Download the “LineFrakDown.mq4” indicator for Metatrader 4
FAQ
How does the indicator determine support?
The Support Trend Line Forex Indicator analyzes recent price action to identify the most relevant support trend.
It plots this as a red line to show where price may find support.
Which timeframes are most effective?
The indicator works on all MT4 timeframes.
Lower timeframes suit day traders and scalpers, while higher timeframes provide more reliable support levels for swing trading.
Can the indicator be used for breakout trades?
Yes. A break below the support trend line can signal a potential sell or breakout opportunity, especially when confirmed with other technical analysis tools.
Does the line repaint?
The support trend line updates as new price data forms but does not randomly repaint past levels, providing a stable reference for trading decisions.
Summary
The Support Trend Line Forex Indicator for MT4 clearly displays recent support levels, helping traders plan stop loss placement and identify breakout opportunities with confidence.
The red trend line works across all MT4 symbols and timeframes, making it suitable for short-term trading, day trading, and scalping strategies.
When combined with trend and momentum indicators, it enhances trade precision and decision-making.
Using the indicator’s signals, traders can determine high-probability entries, adjust stop loss and take profit levels effectively, and maintain disciplined, trend-focused trading.
