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Introducing the MT4 indicator "RS_LINE," which allows you to determine at a glance whether it's a range or a trend.

This is a trial version that can only be used with USD/JPY.

Indicator Explanation

By drawing horizontal lines at key high and low points, it displays points that become the neckline,indicating zones with high trend expectations.

After breaking through the line, if there is no recent line, there is a tendency to continue as a trend.

The broken line tends to function easily as a strong support and resistance reversal point (role reversal), and by using it as the basis for entry points,you can expect highly advantageous trend-following trades.

In a range market, it is also possible to use it for purposes such as counter-trend trading aiming for a temporary rebound by the line,and as a standard for taking profits.

The number of lines can be increased or decreased in two stages.

Display period, line type, and color can also be changed.

It is desirable to display the line for as long as possible.

It can be used in any timeframe, but by default, the line length is set for one month based on M5 (equivalent to 8640 candlesticks).

A spread display feature has also been added.

ON/OFF included, the display position and size can be changed in parameters, and it will display three levels of color coding at the specified spread.

For example: Upper limit 1 '1.0' Upper limit 2 '0.5'

1.0 or more Red

0.5 or more and 1.0 or less Yellow

Below 0.5 Gray

Precautions

Depending on the display period, starting up MT4 or switching timeframes may take time.

If you are concerned, please adjust the display period.

Due to the nature of the product, cancellations or refunds after delivery are not accepted.

We do not accept any responsibility for any damage caused by the use of this indicator.

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