How Do I Draw Indices Trend Lines for Intraday Indices Trading?
How to Draw Indices Trend Lines for Intraday Indices Charts
Example 1: How to Draw Upwards Indices Trend Lines 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 upwards trend line & 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 might 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 Trend Lines for Intraday Indices Trading - Up Indices Trend Line
How to Draw Upwards Indices Trend Lines for Intraday Indices Trading
Example 2: How to Draw Downwards Indices Trend Lines for Intraday Indices Trading
To draw a downward intraday indices trendline on a stock indices chart use 2 resistance points in a bearish downward indices trend so as to plot the downwards indices trend line & then extend the trend line as illustrated 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 trend line which is the resistance level for the bearish downwards indices trend then traders should close all their open stock indices trades - because this might 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 Trend Lines for Intraday Indices Trading - Down Indices Trend Line
How to Draw Downward Indices Trend Lines for Intraday Indices Trading
How to Draw Indices Trend Lines for Intraday Indices Trading in MetaTrader 4
The MetaTrader 4 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 Trend Lines for Intraday Indices Trading on MT4
To draw indices trendlines on a stock indices chart - just click the trendline plotting 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 trend line to touch. You can also right click on trend line & on the indices trend line 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 uncheck this option in your MetaTrader 4 platform. You can also change other indices trend line properties such as color and width on this indices trend line property popup window of the trend line properties. You can download MT4 stock indices trading & learn how to draw indices trend-lines with it.
