By putting trend and channel lines on a single chart, in any time frame, it creates a clear visual identifier for breakout trades.
This indicator shows trend line and channels using the BSI Indicator.
First, it will check the trend by BSI. Then, draw the trend line or channels by condition. The trend line uses regression line, channels use tango line.
I’ve uploaded the compatible Tango Line indicator. I rewrote it again for this indicator.
- orange dash line— trend line or channel (high);
- blue dash line — trend line or channel (low);
- red mark — reversal bar (high);
- blue mark — reversal bar (low);
- pink line — this line is tango line (show the entry level);
- magenta line — moving average of tango line;
- red dot line — BSI value.
MT4 Indicators – Download Instructions
BSI Trend and Channel is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
BSI Trend and Channel provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install BSI Trend and Channel.mq4?
- Download BSI Trend and Channel.mq4
- Copy BSI Trend and Channel.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on BSI Trend and Channel.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator BSI Trend and Channel.mq4 is available on your Chart
How to remove BSI Trend and Channel.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete