Trendline EA for Visual Chart Trading on Metatrader 4

• One of a key element in forex trading is the visual chart and learning to identify trading chart patterns can help to make wise decisions in trading.

• Technical chart patterns will also provide insights to future market movement of the currency prices, which is the foundation of technical analysis.

• Most trading charts are now presented in the form of candlesticks. The candlestick is the graphic representation of the price bar: the open, high, low, and closing price of the period.

• The candlestick has become a widely used tool in online forex trading because it graphical representation provides useful information compared to other charts types.

When you use trading software with visual charting capabilities, there are many patterns that you must learn to identify. Most common and basic technical

chart patterns include triangles, pennants, flags, wedges, head and shoulder and rectangle channels.

Why is visual charting an important skill in forex trading?

• * Visual chart patterns allows technical trader to focus only on price action without using other complicated indicators that manipulate price action with complicated formula which further confused a trader.

• * Fundamentals appear quickly in price movements, therefore by observing the charts a trader is able to monitor not only the news, but also get first-hand knowledge on how market participant react to each news report.

• * Trends are visible and repetitive. With a little bit of skill and experience, trend can easily be identified on a visual chart.

• Then, forex trader can perform trend analysis straight from the chart using envelope , trendline tools, Fibonacci tools and pitch fork to create a channel where boundaries can be defined to perform trade entries and exits.

Visual Chart Trader is Your Edge to Forex Trading

• A visual chart trader ensures that the trader can better trade technical chart patterns in three ways. It provide an objective third-party verification of chart patterns formation, initiate trade immediately

if chart pattern formation is confirmed, next, it makes trading chart patterns less subjective in nature as the trader using the visual chart trader has to programme

its trading rules by way of drawing lines onto the chart for trading later.

• Most importantly, the trendline ea (visual chart trader) make full use of the traders’ technical analysis plan and initiate trade entries and exits according to traders’ trading plan. This way of trading will reduce traders’ emotions while trading and make trading less stressful.

• Forex charts are the primary tool for technical analysis. With trendline ea ,you can both analyze the price patterns and initiate trade entries and exit at the same time. Everything about Forex charting can be learned and if you do your homework and use the trading tools for visual chart trading, you should have an edge and be rewarded with the opportunity, to make gains in the forex market.

More information can be found at this url :

http://www.prweb.com/releases/2013/3/prweb10509051.htm

About the Author

• Warren Seah is the author of the book titled ‘How to be a Currency Trader’ found on the Amazon Kindle Market.

• He has built a forex software brand called Flagforex which has over 400 satisfied customers. He personally has been developing forex software that serves to automate forex traders strategy plans thereby, freeing up their time to monitor the market.

• For more information on working with visual chart trading tool on MT4, head to this url now:

• http://www.ForexGeometry.com