Trendline is the chart pattern that indicate that the series of the highs or lows that form the straight line. The purpose of the trendline is to identify the historical trend of the price movements that indicate the supports and resistance levels. In technical analysis, it is one of the basic components of other chart patterns such as trend channels, wedges, flags, and triangles.To construct a trendline, simply connect either the high prices or low prices on a price chart. The resulting line is the trend line.
