How Do You Draw Indices Trendlines for Intraday Indices Trading?
How to Draw Indices Trendlines for Intraday Indices Charts
Example 1: How to Draw Upwards Indices Trendlines for Intraday Indices Trading
To draw an upwards indices trendline on a stock indices chart use 2 support points in a bullish upward indices trend so that to draw the up-wards trendline & then extend the trend line as illustrated & shown below. The upward indices trendline on a stock indices chart will show the general direction of stock indices prices & as long as stock indices price is above this upward trend line then the upward trend will remain intact - bullish up indices trend.
If indices prices move below the intraday upward indices trend line which is the support level for the bullish upward indices trend then stock indices traders should close all their open stock indices trades - because this may be a indices trend reversal signal. In an upwards indices trend stock indices price should generally stay above the support level which is marked by the upwards intraday indices trend line.
How to Draw Indices Trendlines for Intraday Indices Trading - Up Indices Trendline
How to Draw Upwards Indices Trendlines for Intraday Indices Trading
Example 2: How to Draw Down-wards Indices Trendlines for Intraday Indices Trading
To draw a downwards intraday indices trendline on a stock indices chart use 2 resistance points in a bearish downward indices trend so as to draw the down-wards indices trendline & then extend the trendline as shown below. The downwards indices trendline on a stock indices chart will show the general direction of stock indices prices & as long as stock indices price is below this downwards trend line then the downwards intraday indices trend will remain intact - bearish down indices trend.
If indices prices move above the downward indices trendline which is the resistance area for the bearish down-wards indices trend then traders should close all their open stock indices trades - because this may be a indices trend reversal signal. In an downward indices trend stock indices price should generally stay below the resistance area which is marked by the downward intraday indices trend line.
How to Draw Indices Trendlines for Intraday Indices Trading - Down Indices Trendline
How to Draw Downwards Indices Trendlines for Intraday Indices Trading
How to Draw Indices Trendlines for Intraday Indices Trading in MetaTrader 4
The MetaTrader 4 trading software provides charting tools for drawing the trend lines on stock indices charts. To draw intraday indices trendlines on a stock indices chart, stock indices traders can use the trend line plotting tool provided in MT4 software that is shown below.
How to Draw Indices Trendlines for Intraday Indices Trading in Meta Trader 4
To draw indices trendlines on a stock indices chart - just click the trendline drawing tool above on the MT4 technical analysis software and select point A where you want to start drawing and then point B where you want the trendline to touch. You can also rightclick on trend-line & on the indices trendline properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the trend line, then untick/uncheck this option in your MetaTrader 4 platform. You can also change other indices trendline properties such as color & width on this indices trendline property pop up window of the trendline properties. You can download MT4 stock indices trading and learn how to draw indices trendlines with it.