Two Ways to Draw Channel Lines in MT4

What are Support Line, Resistance Line, and Channel Line?

A support line is basically located below the candlesticks and represents the lower bound of price.

A resistance line is, conversely, located above the candlesticks and represents the upper bound of price.

A channel line is basically two lines drawn parallel to each other, with candlesticks moving up and down between them.

Applying to Trading

In trading, you either aim for a reversal from the upper or lower bounds, or you break the lower or upper bounds to

target an acceleration of upward or downward movement (the start of a trend).

In MT4, you can draw various lines such as supports and resistances, or a channel line where two lines are parallel.

There are many ways to draw lines.

I have summarized how to draw lines on my blog, so please refer to it for trading guidance.

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