Technical analysts can ascertain the present direction of market prices with the aid of a trendline. According to technical analysts, the trend is your friend, and the first step in executing a profitable trade is figuring out what the trend is. An analyst needs at least two points on a price chart in order to draw a trendline.
Trend lines are crucial to technical analysis because they may give traders a clear visual picture of market trends and possible reversal points, which can aid in making well-informed trading decisions. They offer a straightforward but efficient way to recognise and predict market behaviour.
Trend lines can benefit from the application of many of the same concepts that apply to support and resistance levels.
With Minichart Trend scanner, you’ll be able to draw trend line and monitor if it breaks out using the scanner.
