MetaTrader 4 Automatic Trendline Indicator Download - Free | Forex Indicator Download - MT4/MT5 Resource

The Automatic Trend Line Indicator (ATL) is one of the pivot points and fractal indicators for MetaTrader 4 . The indicator plots trend lines based on three different time frames :

• Long Term -- Orange color
• Medium Term -- Green color
• Short Term -- Gray color

The ATL Indicator uses the zigzag pattern to connect the two most recent highs and lows and calculate selected timeframes based on the trendline. This tool helps traders identify major market trends and levels faster and more accurately.

Automatic trendline indicator table

The table below outlines the general specifications of the Auto Trendline indicator :

Bullish Trend

In the 5-minute Gold chart , the Automatic Trendline indicator (ATL) has successfully drawn two ascending channels . By analyzing and plotting trend lines and channels in long-term and short-term time frames , this indicator is able to show market trends across these two different time frames.

This feature allows traders to conduct deeper analysis by examining market trends across different time frames and make more strategic decisions within their industry.

Bearish Trend

In the 1-hour EUR/USD chart , the Automatic Trend Line indicator (ATL) has successfully drawn three descending channels . By analyzing and plotting trend lines and channels across three different time frames (long term, medium term, short term), this indicator is able to show market trends across these different time frames.

As shown in the image below, price has reacted to drawn trend lines and is moving within defined channels . This feature allows traders to identify support and resistance levels and make more professional decisions regarding entry and exit points for their trades.

Automatic Trendline Indicator Settings

Setting up the automatic trendline indicator are as follows:

• Long term zigzag line properties: Settings for long term zigzag lines.
• Show Long Term Zig Zag Line: Enable/disable the display of long term zigzag lines.
• Pivot period long-term Zigzag line: Set the pivot period of the long-term Zigzag line.
• Long-term zigzag line style: Set the style of long-term zigzag lines.
• Long Zigzag Line Color: Set the color of the long zigzag line.
• Long Zigzag Line Width: Set the width of the long zigzag line.
• Long-term trendline properties: Settings for long-term trendlines.
• Show long-term trendline: Enable/disable the display of long-term trendline.
• Long-term trendline color: Set the color of the long-term trendline.
• Mid-term zigzag line properties: Settings for mid-term zigzag lines.
• Show mid-term zigzag lines: Enable/disable the display of mid-term zigzag lines.
• Pivot period mid-term zigzag line: Sets the pivot period of the mid-term zigzag line.
• Mid-stage zigzag line style: Set the style of the mid-stage zigzag line.
• Mid-term zigzag line color: Set the color of the mid-term zigzag line.
• Mid-term zigzag line width: Set the width of the mid-term zigzag line.
• Medium-term trendline properties: Settings for medium-term trendlines.
• Show medium-term trendline: Enable/disable the display of medium-term trendline.
• Medium-term trendline color: Set the color of the medium-term trendline.
• Short-term ZigZag line properties: Settings for short-term Zigzag lines.
• Show short-term zigzag lines: Enable/disable the display of short-term zigzag lines.
• Pivot period short-term Zigzag line: Set the pivot period of the short-term Zigzag line.
• Short-term zigzag line style: Set the style of short-term zigzag lines.
• Short term zigzag line color: Set the color of the short term zigzag line.
• Short term zigzag line width: Set the width of the short term zigzag line.
• Short-term trend line properties: Settings of short-term trend lines.
• Show short-term trendline: Enable/disable the display of short-term trendline.
• Short-term trend line color: Set the color of the short-term trend line.

Conclusion

The Automatic Trend Line Indicator (ATL) is one of the Bands and Channels indicator for MetaTrader 4 . It automatically displays bullish and bearish market trend charts . This indicator allows traders to identify market trends and price reaction levels using the drawn trend lines .

One of the unique features of this indicator is its ability to display trend lines and price channels across three different time frames (short-term, medium-term, long-term). This feature enables users to gain a more comprehensive view of price movements on the chart and make more informed trading decisions.