Today I want to offer you another technical market analysis tool that was created by a foreign trader. Tether Line could indeed be a good addition to almost any trading strategy. The advantages of this indicator include its versatility. It shows itself well in trading any trading instruments and at different time periods. The Tether Line algorithm is based on optimized moving averages. Working with this indicator is very easy, so I can recommend it to aspiring traders. Before you start testing the Tether Line indicator, you must download and install its file into the trading platform. This task is performed in the usual way. Remember to reboot the MT4 after setting the LED. I’ll post a link to download the file at the end of this article. As always, before you start working with the indicator, you need to optimize its settings. Tether Line has only one parameter, Length. This is the period or, in other words, the number of candles, which the indicator will use in its calculations. Note that the value of the Length variable depends on the timeframe. In this regard, it must be selected in accordance with the time period in which you intend to trade.
Rules of application of Length indicator
On the graph it appears in the form of a line, the color of which changes depending on the market situation.
The signals are read as follows. Once the price falls below the line that changed its color from red on blue, this is a signal to open a sell trade deal. Accordingly, and vice versa. If the price rose above the line that changed its color from blue to red, then it means that you can open a buy warrant. It is recommended to close open transactions when a signal of the opposite direction appears. Despite the fairly high quality signals of the Tether Line indicator, I do not recommend trading only on them. But using it as an additional indicator will be very useful. Test Work TETHER LINE can be and necessary in the demo trade. At the same time, you need to choose other analysis tools with the appropriate settings. And of course, we should not forget about the compliance of the rules to reduce risks in trade. Download The indicator file can be downloaded by this link: TETHER_LINE Inga Fedorova 18.10.2021 Forex entry The Tether Line indicator for MT4 first appeared forex-for-you.ru.