level indicator
Info
The level indicator is a Indicator for MetaTrader 4 that when the triglv level specified in the settings is crossed within the deviation, the indicator sends a push notification to the mobile device if the input parameter notification is enabled, and also plays an alert if the input parameter alert is enabled. the trigger level of triglv, as well as the deviationlimits, are highlighted with horizontal lines, the style, color and thickness of which can also be set in the indicator settings.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use level indicator
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.
What this tool does
when the triglv level specified in the settings is crossed within the deviation, the indicator sends a push notification to the mobile device if the input parameter notification is enabled, and also plays an alert if the input parameter alert is enabled.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
when thetriglv
level specified in the settings is crossed within the
deviation
, the indicator sends a push notification to the mobile device if the input parameter
notification
is enabled, and also plays an alert if the input parameter
alert
is enabled. the trigger level of
triglv
, as well as the
deviation
limits, are highlighted with horizontal lines, the style, color and thickness of which can also be set in the indicator settings. this design allows you to add several copies of the indicator with different levels to the chart and receive signals as a result of their intersection.
the given triglv level works only once on one bar. re-actuation is possible only after the opening of the next bar. thus, it was possible to eliminate too frequent triggers on each tick.
You may also like: Fast Stochastic Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.