Help CenterThe Trendline tool is a powerful feature on TradeLocker that allows PROP365 traders to analyze market trends effectively. By drawing trendlines on the chart, you can gain valuable insights into the direction and strength of the market. Trendlines are essential for identifying support and resistance levels, potential entry and exit points, and even spotting potential trend reversals.
Select the instrument or currency pair
Here’s how to use it. Start by selecting the instrument or currency pair you wish to analyze on your TradeLocker chart via your PROP365 account. On the left-hand side of the chart, locate the toolbar containing the drawing tools. Find the trendline tool icon, which is represented by a diagonal line.
Click on the trendline tool icon
Click on the trendline tool icon to activate it. Position your cursor at the starting point of the trend you want to analyze. Left-click and drag the cursor to the ending point of the trend. Release the mouse button to complete the trendline.
Additionally, the angle of the trendline can give you a sense of the trend’s strength or weakness. Breaks or bounces off a trendline often signal a potential trade opportunity, making it a crucial tool for timing market entries and exits.
Draw different types of lines
You can use the trendline tool to draw different types of lines such as upward trends (ascending), downward trends (descending) or sideward trends (horizontal).
Remember to use the trendlines in conjunction with other technical analysis tools and indicators to make more informed trading decisions.
By utilizing the trendline tool on TradeLocker via your PROP365 account, you can enhance your market analysis and make more informed trading decisions, whether you’re following trending markets or anticipating trend reversals.