The Resistance Trend Line Forex indicator for Metatrader 4 analyses price action and plots the most recent resistance trend line on the chart.
The indicator appears in the main MT4 chart as a red colored trend line.
Short-term traders (day traders and scalpers) can use the most recent resistance trend line for stop loss placement (sell trades) and breakout trades (buy trades).
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “LineFrakUp.mq4” indicator for MT4
Indicator Chart (EUR/USD M30)
The example chart below displays the Resistance Trend Line Forex mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Resistance Trend Line Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Resistance
Does the indicator repaint? No.
MT4 Scalping Strategy Using Resistance Trend Line and Waddah Attar Trend Scalper Indicators
This MT4 scalping strategy combines the key resistance levels from the Resistance Trend Line Forex Indicator with the fast trade signals of the Waddah Attar Trend Scalper Indicator.
It is designed for short-term scalping on 1-minute to 5-minute charts.
The Resistance Trend Line indicator draws the most recent resistance on the chart in red, while the Waddah Attar Trend Scalper indicates bullish signals with green histogram bars and bearish signals with red bars.
Take profit targets are set between 4 and 10 pips for quick, precise scalping trades.
Buy Entry Rules
- Wait for the price to approach or bounce off a level below the red resistance trend line.
- Confirm the buy with a green histogram bar on the Waddah Attar Trend Scalper indicator.
- Enter a buy trade at the market price once both conditions are met.
- Set a stop loss just below the recent swing low.
- Set a take profit between 4 and 10 pips or near the next minor resistance level.
Sell Entry Rules
- Wait for the price to reach or test the red resistance trend line.
- Confirm the sell with a red histogram bar on the Waddah Attar Trend Scalper indicator.
- Enter a sell trade at the market price once both conditions are met.
- Set a stop loss just above the resistance line or the recent swing high.
- Set a take profit between 4 and 10 pips or near the next minor support level.
Advantages
- Combines resistance levels with trend signals for higher probability scalping trades.
- Effective on very short timeframes for multiple trades per session.
- Suitable for various currency pairs, including EUR/USD, USD/JPY, EUR/GBP, and AUD/USD.
Drawbacks
- Signals can be less reliable during periods of low market liquidity or outside major trading sessions.
- Small pip targets make profits sensitive to spreads and slippage, especially on lower-volume pairs.
- Frequent scalping trades can be mentally demanding and require sustained focus.
Case Study 1: USD/JPY on 1-Minute Chart
On the USD/JPY 1-minute chart, the price approached just below the red resistance line.
A green histogram appeared on the Waddah Attar Trend Scalper, signaling a buy entry.
The trade was entered at 109.50, with a stop loss at 109.45 and a take profit of 6 pips.
The trade closed successfully within 4 minutes.
Case Study 2: EUR/GBP on 5-Minute Chart
On the EUR/GBP 5-minute chart, the price tested the red resistance trend line.
A red histogram appeared on the Waddah Attar Trend Scalper, confirming a sell entry.
The trade was entered at 0.8500, with a stop loss at 0.8505 and a take profit of 8 pips.
The trade reached the take profit target within 7 minutes.
Strategy Tips
- Focus on high-liquidity pairs during active market sessions for smoother price action.
- Combine the strategy with short-term support and resistance levels to improve entry and exit precision.
- Adjust trade size to manage risk, since small pip targets can be sensitive to volatility.
- Consider using a trailing stop for longer scalps to capture additional pips if momentum continues.
- Keep an economic calendar handy to avoid trading immediately before major news releases.
- Practice patience and wait for clear confirmation from both indicators before entering a trade.
