BEST Trend Line and Channel MT4 Indicator. A trendline is one of the basic components of most technical analysis patterns. To construct a trendline, simply connect either the high prices or low prices on an asset’s chart. The resulting line is the trendline.
Trendlines have a variety of uses in technical analysis, most fundamentally for their ability to predict levels of price support and resistance.
Trendlines are also used as components in a variety of specialized technical analysis charts, including trend channels and wedge patterns.