Forex Degrees
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Forex Degrees
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
ForexDegrees is a Forex Indicator for MetaTrader 4 with Movement Alerts.
This indicator will write value degrees of the lastest position of Price / MA / WPR / RSI / Stochastic at the current Timeframes, and the position degrees calculated from Highest and Lowest price on 100 bars.
And when position and condition of trend status change, the indicator will give an alerts.
On this indicator, you can select the position calculations degree that you want:
see the indicator properties above
As you know, the highest degree in the Chart (Main Chart or Sub-Window) is 90 degrees, and the lowest level on the chart (Main Chart or Sub-Window) is 270 degrees, and the middle is 0 degrees or 360 degrees.
RSI 70, a value equal to 36 Degrees
RSI 30, a value equal to 324 Degrees
WPR 80 (WPR -20), a value equal to 54 Degrees
WPR 20 (WPR -80) , a value equal to 306 Degrees
Stochastic 80, a value equal to 54 Degrees
Stochastic 20, a value equal to 306 Degrees
You can only choose one of the calculations degrees available:
Price
or
MA
or
WPR
or
RSI
or
Stochastic
.
If you choose the wrong, or choose two calculations degrees, then the indicator will automatically restore the default setting, which is Price Degrees.
May be useful for fellow
trader.
