Folding meter 4 Trend Lines

Folding rule of 4 trend lines

The indicator has been created based on the "Folding rule" trading strategy. It shows four pairs of inclined resistance and support lines.

These lines are plotted based on the nearest High and Low of the ZigZag technical indicator with four given input parameters.

The indicator draws dots above and below the price extremums that have been used for plotting the trend lines.

The indicator of trend lines facilitates the plotting of trend lines, channels and technical patterns (such as "Triangle", "Wedge" and the like), which are formed by the price of the currency pair. Traders actively look for these formations on the charts and use them when working in the currency and stock markets to determine the movement exhaustion, to search for trade signals.

This indicator allows obtaining a variety of trading signals:

• Global trend and intraday trend
• Technical figures: "Channel", "Diverging, Converging Wedge", "Triangles";
• Determining the price Highs and Lows using the built-in "Zigzag" lines;
• Visualization of the price acceleration;

Note: the "Folding rule" strategy works well when all four pairs of trend lines are used.

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