• Home
  • About
  • Contact

Forexobroker

Download Our Forex Strategies and Indicators

  • Strategies
  • Articles
  • Dom’s Forex Course
  • Metatrader 4 Indicators
    • Free Metatrader Indicators
    • Paid Metatrader Indicators
  • Metatrader 4 Systems
    • Free Metatrader Systems
    • Paid Metatrader Systems
  • EA’s
    • Paid Expert Advisors
  • Forex Brokers

WATL Trend Lines Indicator

August 10, 2015 by Dominic Walsh 1 Comment

Just as the name suggests this indicator is based mainly on market trends. It draws several trend lines on the trading chart. The indicator is somehow complex and thus not suitable for Forex beginners. It should be used for traders that knows how to analyze and come up with correct judgments of the market trends. This indicator is just a tool to help in determining the trend direction.

WATL Trend Lines Indicator is completely not suited for the scalpers. It is suited for long term traders. The trends that are depicted by the trend lines. In actual fact the indicator should be used mainly with the H4 and above timeframes. If it is used with timeframes that are tighter for example H1 and below, it will not be very effective and thus profiting. However this indicator is for use with all currency pairs. There are no specific currencies that are chosen for this indicator.

WATL Trend Lines Indicator

Fig.1. The WATL trend lines indicator inserted on a USDJY chart.

Just as evident from the above chart, the indicator displays or is responsible for the formation of yellow trend lines, brown trend lines, red dotted line and a purple trend line. The indicator also gives an alert. The alert is given when top maximum and the bottom minimum are generated by the help of the trend lines. The bottom minimum and top maximum points are distinguished in the chart with a circle that is golden at the center and red on the edges. These two points are of great importance since the show the origin from where the trends are measured from.

If you can’t make clear judgment using this indicator alone, then it would only be wise to use it in conjunction with another indicator especially those that seek after the market trends.

How to trade using the WATL trend lines indicator.

There are three things that a trader should be looking at when using this indicator. First is the red dotted trend line. Then there are the bottom minimum and top maximum points. Lastly there is the purple trend line. These three are the things to use when trading.

When the bottom minimum point is given the trader should place a buy. At this time the market prices are set to rise. The issue come with when to close the trade. On the other hand when the top maximum point is given the trader should place a sell since the market prices are anticipated to drop.

WATL trend lines indicator

Fig.2. WATL Trend Lines Indicator An example of placing sell and buy orders.

The trades should be given when the opposite signal is given. That is if you had placed a sell due to the formation of the top maximum point and all of a sudden a bottom minimum point is formed then you should close your sell and open a buy at that moment. The same applies for a buy order.

Open demo account to test this system.

Download Free Forex WATL Trend Lines Indicator

Download WATL Trend Lines Indicator

Filed Under: Free Metatrader Indicators Tagged With: dots indicator

Comments

  1. J.P. says

    August 13, 2015 at 11:26 am

    Thanks man your Indicators help me a lot after I did lost a lot off money on the FX and only now start to come in to the game. Thank’s again

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
  • Twitter
  • YouTube
Forexobroker

Archives

  • June 2022 (6)
  • May 2022 (8)
  • April 2022 (5)
  • March 2022 (7)
  • February 2022 (6)
  • January 2022 (7)
  • December 2021 (1)
  • November 2021 (4)
  • October 2021 (3)
  • September 2021 (4)
  • August 2021 (2)
  • July 2021 (1)
  • June 2020 (7)
  • May 2020 (7)
  • April 2020 (9)
  • March 2020 (7)
  • February 2020 (10)
  • January 2020 (3)
  • November 2019 (1)
  • September 2019 (3)
  • August 2019 (3)
  • June 2019 (1)
  • December 2018 (1)
  • November 2018 (4)
  • October 2018 (9)
  • September 2018 (14)
  • August 2018 (5)
  • July 2018 (8)
  • June 2018 (3)
  • May 2018 (9)
  • April 2018 (3)
  • March 2018 (10)
  • February 2018 (9)
  • January 2018 (13)
  • December 2017 (12)
  • November 2017 (14)
  • October 2017 (3)
  • September 2017 (3)
  • August 2017 (13)
  • July 2017 (25)
  • June 2017 (21)
  • May 2017 (20)
  • April 2017 (21)
  • March 2017 (15)
  • February 2017 (16)
  • January 2017 (18)
  • December 2016 (11)
  • November 2016 (21)
  • October 2016 (63)
  • September 2016 (24)
  • August 2016 (22)
  • July 2016 (16)
  • June 2016 (16)
  • May 2016 (16)
  • April 2016 (23)
  • March 2016 (29)
  • February 2016 (22)
  • January 2016 (22)
  • December 2015 (29)
  • November 2015 (28)
  • October 2015 (30)
  • September 2015 (41)
  • August 2015 (52)
  • July 2015 (47)
  • June 2015 (55)
  • May 2015 (50)
  • April 2015 (58)
  • March 2015 (22)

  • Home
  • About
  • Contact

Categories

  • Strategies
  • Articles
  • Dom’s Forex Course
  • Metatrader 4 Indicators
    • Free Metatrader Indicators
    • Paid Metatrader Indicators
  • Metatrader 4 Systems
    • Free Metatrader Systems
    • Paid Metatrader Systems
  • EA’s
    • Paid Expert Advisors
  • Forex Brokers

Visit Our Forex Strategies And Forex Indicators Below:

Forex Trading Strategies

Free Forex Indicators

Paid Forex Indicators

Paid Forex Strategies

“Our order process is conducted by our online reseller Paddle.com. Paddle.com is the Merchant of Record for all our orders. Paddle provides all customer service inquiries and handles returns.”

© 2015-2022 Forexobroker

Copyright © 2022 · Magazine Pro Theme on Genesis Framework · WordPress · Log in