Do you ever feel yourself second-guessing your trendlines? If you give two traders the same chart and ask them to each plot a line – you will probably see two very different results.
Trendlines are perhaps the most used and abused tool in modern technical analysis. However, many traders do not trade/like trendlines because of its subjectivity.
This subjective viewpoint can negatively affect decision-making because it’s based on feelings and opinions rather than preplanned strategies.
To be profitable, a trader must trade and think like a robot, leave emotions and subjectivity at the door and execute a strict set of rules laid out in the trading plan. You might have heard this before and it is so true “Plan your trade— Trade your Plan”.
That is why we created ‘RichTL’ indicator; to help traders draw trendlines objectively by pointing out the swings to connect. Thus, Focus on the Trade, Risk and Money management.
RichTL indicator points out strong swings using a special algorithm created by theSignalyst.
All you have to do is draw trendlines by connecting at least three objective swing/dots.
Check RichTL website for more info