Stochatic RSI Trendline Indicator for MT4

Version: mt4 - stable

Stochastic RSI trendline indicator with MTF ability and alert functions, which draws all trendlines automatically in the Stochastic RSI indicator window. The multi timeframe ability allows you to watch other timeframe's indicator values, without switching between the timeframes. The alert functions work with all trendlines and horizontal lines in the Stochastic RSI trendline window, not only TrueTL's. For example, you can use it for alert when your favorite level is break.

Key features:

  • Draws all trendlines automatically on the Stochastic RSI indicator
  • NEW! Backtesting ability (Example Video)
  • Triangle mode (only two trendlines)
  • MTF (Multi timeframe) ability
  • Compatible with offline charts /such as Renko chart/
  • Cut the trendline ending option
  • Fully customizable alert functions (not only for TrueTL's objects)
  • Fully customizable drawing styles

Stochastic RSI Trendline Indicator Settings Panel
Stochastic RSI Trendline Indicator Settings Panel


USDHUF on M15 - approach UP (Object: Horizontal Line 2783 | ID: Main)

AUDUSD on M1 - break DOWN before close (Object: Trendline 17284 | ID: Main)

Features and settings:

  • Version: the indicator's actual version number. If update is released, you can simply overwrite the files with our self-extractor or you can do it from the zip file manually (installation steps).
  • Username: enter your username that you received after purchase. Auto save so if once entered after not necessary (about our ex4 protection).
  • NEW! Auto Refresh: If enabled, the indicator refreshes lines when the candle is closed or if you change the Timeframe or Symbol. If disabled, the indicator redraws only when you run the "[TrueTL] Calculate" script. If enabled, the auto-scroll must be enabled too in MT4 (Example Video). (Backtesting ability: if the auto-scroll is disabled in MT4, and the Auto Refresh is disabled in the indicator's settings too, you can scroll back the chart, and the script will draw all past trendlines until the last visible candle.)
  • Stochastic K Period/D Period/Period/RSI Period: you can set the periods of Stochastic RSI indicator.
  • RSI Price: you can set the Stochastic RSI price.
  • Stochastic Timeframe: you can set the indicator's timeframe.
  • Triangle Mode: in this mode the indicator analyses every movements but draws only the two nearest trendlines: upper and lower.
  • Cut TL Ending: cut the trendline’s ending when it's broken.
  • Lines To Background: you can move the TrueTL's lines to the background.
  • Multiple instances: you can attach two or more instances of the same indicators on one chart. If you would like to use the indicator with old-style object names (if you developed an EA or another reason) you can disable this function.
  • User Notification Corner: set the corner on the chart to show the user notification such as if your subscription expire soon, or a new update is released.

Alert Settings

  • Alert Functions: enable or disable all of the alert functions.
  • Alert for TrueTL's lines: switch on/off the alert for TrueTL's trendlines.
  • Alert for Other TL and HL: Switch on/off the alert for other trendlines and horizontal lines which not TrueTL's.
  • Color Filter: Switch the color filtering to the other trendlines or horizontal lines to alert.
  • Alert Only For This Color: specify the color for the other trendlines or horizontal lines to alert just in case the "Color filter" is enabled.
  • Alert For New TL: you can set an alert when the indicator is redrawing the trendlines, and their positions are changing.
  • Break Alert After Close: alert at trendline breakout after the candle closed.
  • Break Alert Before Close: alert at trendline breakout before the candle is closing.
  • Touch Alert: alert when price approaching a trendline.
  • Touch Distance: you can set the distance till the trendline where the alert will be triggered (adjust in indicator's value).
  • MT4 ID: specify a short message for you to identity which indicator alerted.
  • Email / Push / Popup / Sound Alert: you can switch alert modes.
  • Sound File: specify a sound file that plays a sound alert.
  • Pictogram Alert: shows a wingdings character of the alert.
  • Pictogram Symbol: specify the wingdings character’s number.
  • Pictogram Corner: specify corner on the chart to show the pictogram.
  • Write Alert to File: write alert messages to file. "TrueTL Alert.csv" file placed in MQL4/Files folder.

Color and Style Settings

  • STO Color 1: specify a color of the stochastic rsi indicator's MAIN line.
  • STO Width 1: specify the width of the stochastic rsi indicator's MAIN line.
  • STO Style 1: specify the style of the stochastic rsi indicator's MAIN line.
  • STO Color 2: specify a color of the stochastic rsi indicator's SIGNAL line.
  • STO Width 2: specify the width of the stochastic rsi indicator's SIGNAL line.
  • STO Style 2: specify the style of the stochastic rsi indicator's SIGNAL line.
  • Trendline Color: specify the color of the trendlines.
  • Trendline Width: specify the width of the trendlines.
  • Trendline Style: specify the style of the trendlines.
Stochastic RSI Trendline #1 Stochastic RSI Trendline #2 Stochastic RSI Trendline #3 Stochastic RSI Trendline #4
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Risk warning

Foreign exchange transactions carry a high degree of risk and any transaction involving currencies is exposed to, among other things, changes in a country's political condition, economic climate, acts of nature - all of which may substantially affect the price or availability of a given currency.

Speculative trading in the foreign exchange market is a challenging prospect with above average risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to entering this market. Most importantly, do not invest money that you are not in a position to lose.

In addition, trading on a margin basis means that any market movement will have a proportionate effect on your deposited funds. This can work for you as well as against you. The possibility exists that you could sustain a total loss of initial margin funds.

Risk Warning