Forex The 5 Trend Line Rule MT4 Indicator

Forex The 5 Trend Line Rule MT4 Indicator:

About the Forex The 5 Trend Line Rule MT4 Indicator

Introduction

According to Martin Armstrong, looking at a lot of major bear & bull markets, one curious rule has emerged and its called The 5 Trend Line Rule. There appears to be a total of 5 false breakouts in a major bear or bull market before breaking out, the 6th breakout seems to be the charm. How do we qualify a real breakout from just another false move? This seems to be easily distinguished when the 6th rally/fall finally exceeds the high/low of the 5th false break out (on a closing basis).

Parameters

  • Show 3 Time Unit Rule: True/False
  • Pop-Up Alert: True/False
  • Email Alert: True/False
  • Mobile Alert: True/False

Test results:

Forex The 5 Trend Line Rule MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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