Real Trend Line scan be found within the MQL5 marketplace under the indicators heading. It was first uploaded to the marketplace on the 6th of June 2017 by Harun Celik, it has not received any subsequent updates and so it is still at version 1.0 of the indicator.
Overview
Real Trend Lines was created for the MetaTrader 4 trading platform and acts as an indicator that will calculate trends using set channels and algorithms. It will help you to work out the trend return points and represents an oscillator. The indicator is best used with the M15, M30, or H1 timeframes.
The main features described by the developer:
Uptrend
Rule 1 – The yellow trend line should be below zero levels.
Rule 2 – The yellow trend line should be in the green and orange channels.
Rule 3 – The trend line should lookup in the channel.
Rule 4 – the pink trend line should be above the yellow trend line.
Downtrend
Rule 1 – The yellow trend line should be on zero levels.
Rule 2 – The yellow trend line should be in the green and orange channels.
Rule 3 – The trend line should look down on the channel.
Rule 4 – The pink trend line should go under the yellow trend line.
In terms of parameters, there are only a few available, these include the trend period, middle trend period, channel calculation period, and the display mode.
Service Cost
The Real Trend Lines indicator can be purchased for $30, this is a one-off payment that comes with no added limitations apart from the 20 activation limit. There is no option to rent this indicator so purchasing it is the only option available. There is a free demo version, however, this version will only be usable with the strategy tester within the MetaTrader 4 platform.
Conclusion
There are two reviews available from its users, they have given the indicator an overall rating of 5 out of 5.
“A great trends analysis tool, very helpful! But why can’t I change the preset colors? I use the Black/White color background, the yellow main trend line is not so visible for me.” – A 5-star review.
“Gets you into winning trade quite early, I prefer the 30 Minute with it” – A 5-star review.
So the current reviews are very positive, there are only two of them available but it is a great start. There are also a few comments, the developer was originally replying to most of them, he did not reply to the most recent, the main replies were back n 2017 and there have not been any developer comments since then. Due to this long time of no comments, we would suggest sending your queries to them before making a purchase, just to make sure that the developer will still be around to offer support should you need it.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/23342
