Download Shmen Trendline Indicator For Mt4

ShmenTrendline indicator automatically draws trend lines on all pairs and time-frames depending on the minimum amount of touchpoints and tolerance between the trend line and a bar chosen.

Adjustable variables

Mintouchp; Minimum bars in line for a trend line.
Lookback; Number of candles to calculated trend lines from.
Shortest; Shortest line allowed, measured in bars.
Breaktime; Number of the most recent bars to neglect in order to better see a breakout.
Maxlines; Maximum allowed number of drawn trend lines on the same chart.
Tol; Tolerance allowed for spillover and touch points.
TolP; Period of bars used for the calculation.
MinD; Minimum distance allowed from line for each candles rebound.
Anglefilter; “True” value will result in upper lines to be drawn downward and lower lines drawn upward only.
Maxage; Maximum bars in the past allowed for the last touch point