Small Trigger Line and Large Trigger Line - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources

The author of the code is William Kreider (madhatt30), but the concept comes from the indicator on NinjaTrader. These "trigger lines" were ported from the NinjaTrader code for use with MetaTrader

This indicator is designed to be used with your existing strategy. Trigger lines help provide information about market direction. In most cases, a large trigger line can be interpreted as a larger trend (or a higher timeframe trend) and a small trigger line can be interpreted as a smaller trend (or the current timeframe trend).

A pullback back to the trigger point would indicate a good area to consider entering.

The more the price surrounds the trigger lines or penetrates them, the weaker they become and may indicate a change in direction. Refer to the small trigger lines to fine-tune your entry points.

I found other "trigger line" indicators, but I found them to be inaccurate. If placed side by side, this would match NinjaTrader, except for the broker price difference of course.

You can use these on any standard time frame

Attachment download

📎NT_Trigger_Lines_Big_Recoded.mq4 (4.83 KB)

📎NT_Trigger_Lines_Small_Recoded.mq4 (4.83 KB)

Source: MQL5 #11064