First uploaded on the 13th of August 2014, MQL Trendline EA was uploaded by its creator Martin Eshleman, it received its most recent update on the 9th of December 2015 and is currently at version 1.10.
MQL Trendline EA was created for the MetaTrader 4 trading platform and was designed to be a semi-automatic trader that is based on trend lines and horizontal lines that have been manually plotted onto the lines by the user or another indicator. The expert advisor can handle as many lines as you need to use and can work with each line differently based on settings and keywords added by the user.
A number of different strings and parameters are available to use, these include things like the take profits, stop losses, alerts, timers, lot sizes, slippage, spreads, and more.
A few notes from the developer:
- Once a trade or alert occurs, the EA will delete the line since it did its job already.
- All alerts are standard MetaTrader alerts.
- The keywords are NOT case sensitive.
- EA can be tested in the back tester in visual mode the same way as in live trading.
- The lines can be adjusted or moved on the chart even during EA operation.
It will currently cost you $75 to purchase MQL Trendline EA with a one-off purchase, this will give you 5 activations of the indicator with no further limitations. Unlike many EAs in the MQL5 marketplace, there is no option to rent the expert advisor. There is a free demo version available, however, its limitations are not known, this normally means that it is only usable within the strategy tester, however, it would not hurt to download and try it out if you are thinking of purchasing the software.
There is only one review available which is giving the expert advisor quite a negative rating.
“I purchased this product and downloaded it to my laptop. I need this on my desktop. I reached to the developer who is not willing to support this simple process, unlike other developers. MQL5 does support multiple activations but the developer is not willing to spend the time. I will change my review only when I received the level of support required for my request.” A 1-star review.
So the review is more around the lack of support being received from the developer, looking at the comments section, it is clear that the developer has been replying to the comments as well as the same person that provided the review. So we believe that the review was done out of malice rather than actual issues. The developer has been responding well and shows that he is willing to keep on supporting the product and its users. We would advise you to send any queries or questions that you may have to them so you can be sure that the expert advisor will do what you need it to do prior to purchasing it.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5541