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Top 10 Forex Expert Advisors in the last decade

Top 10 Forex Expert Advisors in the last decade

June 3, 2021

Newcomers to the forex market often experiment with new techniques and methods to generate profits a

Top 5 trading robots for profit on forex in 2021

Top 5 trading robots for profit on forex in 2021

May 27, 2021

Foreign exchange trading is one method to make big as well as steady earnings in a reasonably brief

Bollinger Bands Width indicator - eliminating the shortcomings of BB

Bollinger Bands Width indicator - eliminating the shortcomings of BB

May 26, 2021

Bollinger Bands or Bollinger Bands (BB) are a network sign that has a significant dis

Markets really love round numbers and they often act as support in a falling market, or resistance as price rises.

This indicator is designed to draw price levels at Round values. It does this automatically, but you also have the option to override that and determine the levels you wish to see.

A round level can be as simple as steps of 10, so 10, 20, 30 etc or if you are working with Forex, maybe you want to see changes at 0.1 or 0.01.

The indicator draws two classes of line, Major and Minor, each with a different format. This allows you to see changes between two different changes in level at the same time.

This is the MT5 version of the Indicator. If you want the MT4 version, go here: 

Alerting

The indicator includes the ability to sound alerts at either Major, Minor or both price levels when price comes within a configurable distance.

Automatic Setup

By default, the indicator will determine an appropriate level for both Major and Minor prices. It does that using a configurable DensityIndex setting which controls how many lines you want to see on screen at any time.

If you set your own scaling, using the MajorGap and MinorGap settings, you can still get the indicator to limit the number of lines drawn on screen by using the ReduceAtScale setting.

Please see the screenshots for a clearer idea of this feature.

SETTINGS

BASIC CONFIGURATION

MajorGap

When set to 0.0, the indicator will calculate an appropriate scale automatically

MinorGap

When set to 0.0, the indicator will calculate an appropriate scale automatically

ReduceAtScale

When true, the indicator will take into account the scale of the chart and reduce the number of levels drawn if required.

DensityIndex

Maximum number of Minor values before automatically scaling down.

PRICE LINE STYLING

MajorLineStyle

The style of line to draw, solid, dotted, dashed. Select from the list of system supported values.

MajorLineWidth

The width of line to draw. If you wish to use a style other than SOLID, this value must be equal to 1.

MajorLineColour

The colour to draw the line.

ShowMajorPriceScale

When true, the Major price levels will be highlighted in the price scale to the right of the chart.

MinorLineStyle

The style of line to draw, solid, dotted, dashed. Select from the list of system supported values.

MinorLineWidth

The width of line to draw. If you wish to use a style other than SOLID, this value must be equal to 1.

MinorLineColour

The colour to draw the line.

ShowMinorPriceScale

When true, the Minor price levels will be highlighted in the price scale to the right of the chart.

ShowPriceInToolTip

When true, the price value of the line will be show as a tooltip when the mouse cursor hovers over it. Useful if you have turned off the price scales.

ALERT CONFIGURATION

AlertForMajorLevels

When true, raises alerts for price proximity to Major price levels

AlertForMinorLevels

When true, raises alerts for price proximity to Minor price levels

AlertProximityPoints

How close current price has to be to a level to trigger an alert. Alert is raised if the current price is within AlertProximityPoints points of a level.

UseSoundAlerts

Make a sound when an alert is triggered.

UseNotificationAlerts

Send a notification using the MT4 notifications system when an alert is triggered. See the main menu Tools > Options then select the Notifications tab and setup in there. You will also need the Apple or Android app. 

MinMinutesBetweenAlerts

After triggering an alert, the system will wait this many minutes before allowing another alert to fire.

SoundFilename

An alert sound is built in, but if you wish to use a different one, you can specify the filename here. Files must be in the terminal MQL/Files folder.

Read More...

Markets really love round numbers and they often act as support in a falling market, or resistance as price rises.

This indicator is designed to draw price levels at Round values. It does this automatically, but you also have the option to override that and determine the levels you wish to see.

A round level can be as simple as steps of 10, so 10, 20, 30 etc or if you are working with Forex, maybe you want to see changes at 0.1 or 0.01.

The indicator draws two classes of line, Major and Minor, each with a different format. This allows you to see changes between two different changes in level at the same time.

This is the MT5 version of the Indicator. If you want the MT4 version, go here: 

This is the MT5 version of the Indicator. If you want the MT4 version, go here: 

Alerting

The indicator includes the ability to sound alerts at either Major, Minor or both price levels when price comes within a configurable distance.

Automatic Setup

By default, the indicator will determine an appropriate level for both Major and Minor prices. It does that using a configurable DensityIndex setting which controls how many lines you want to see on screen at any time.

If you set your own scaling, using the MajorGap and MinorGap settings, you can still get the indicator to limit the number of lines drawn on screen by using the ReduceAtScale setting.

Please see the screenshots for a clearer idea of this feature.

BASIC CONFIGURATION

MajorGap

When set to 0.0, the indicator will calculate an appropriate scale automatically

MinorGap

When set to 0.0, the indicator will calculate an appropriate scale automatically

ReduceAtScale

When true, the indicator will take into account the scale of the chart and reduce the number of levels drawn if required.

DensityIndex

Maximum number of Minor values before automatically scaling down.

PRICE LINE STYLING

MajorLineStyle

The style of line to draw, solid, dotted, dashed. Select from the list of system supported values.

MajorLineWidth

The width of line to draw. If you wish to use a style other than SOLID, this value must be equal to 1.

MajorLineColour

The colour to draw the line.

ShowMajorPriceScale

When true, the Major price levels will be highlighted in the price scale to the right of the chart.

MinorLineStyle

The style of line to draw, solid, dotted, dashed. Select from the list of system supported values.

MinorLineWidth

The width of line to draw. If you wish to use a style other than SOLID, this value must be equal to 1.

MinorLineColour

The colour to draw the line.

ShowMinorPriceScale

When true, the Minor price levels will be highlighted in the price scale to the right of the chart.

ShowPriceInToolTip

When true, the price value of the line will be show as a tooltip when the mouse cursor hovers over it. Useful if you have turned off the price scales.

ALERT CONFIGURATION

AlertForMajorLevels

When true, raises alerts for price proximity to Major price levels

AlertForMinorLevels

When true, raises alerts for price proximity to Minor price levels

AlertProximityPoints

How close current price has to be to a level to trigger an alert. Alert is raised if the current price is within AlertProximityPoints points of a level.

UseSoundAlerts

Make a sound when an alert is triggered.

UseNotificationAlerts

Send a notification using the MT4 notifications system when an alert is triggered. See the main menu Tools > Options then select the Notifications tab and setup in there. You will also need the Apple or Android app. 

MinMinutesBetweenAlerts

After triggering an alert, the system will wait this many minutes before allowing another alert to fire.

SoundFilename

An alert sound is built in, but if you wish to use a different one, you can specify the filename here. Files must be in the terminal MQL/Files folder.

Key Features of Algorithmic Trading Software

11 June 2021

1.0

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