Summary of "🚀 Trend by Angle Indicator for MetaTrader 4/5 – Free [TradingFinder]"

Trend by Angle Indicator Overview

The video introduces the Trend by Angle Indicator, a technical analysis tool designed for MetaTrader 4 and MetaTrader 5 platforms. It is available for download from the TradingFinder website. This indicator assists traders in identifying market trends by automatically detecting pivot highs and pivot lows on price charts and drawing trend lines based on these pivot points.

Key Features and Methodology

Automatically identifies pivot highs and lows and draws corresponding trend lines.
Traders can utilize these trend lines to:
- Enter buy or sell positions when the price touches the trend lines.
- Enter trades on breakouts when trend lines are broken.
Typical workflow example:
1. Price breaks above a pivot high trend line.
2. A pullback occurs to the trend line, confirmed by the pivot low trend line.
3. Enter a buy position, targeting the next descending trend line.
4. Re-enter on subsequent pullbacks to the ascending trend line.
5. Continue trading based on breakouts and pullbacks of trend lines.
Uses historical data, with a default setting analyzing the last 144 candles to identify previous highs and lows.
Helps traders follow market momentum and make informed entry and exit decisions based on interactions with trend lines.

Applicable Markets and Instruments

No specific tickers, sectors, or asset classes are mentioned.
The indicator is broadly applicable to any market or chart within MetaTrader platforms, including:
- Forex
- Indices
- Commodities
- Other asset classes supported by MetaTrader

Recommendations and Cautions

Positioned as a practical tool to assist with trend identification and trade timing.
No explicit financial advice or disclaimers were provided in the video subtitles.
Users are encouraged to experiment with the indicator’s settings and share feedback for improvement.