Previous Day Closing Price Indicator
Info
The Previous Day Closing Price Indicator is a Indicator for MetaTrader 4 that this indicator displays the previous day's closing price for either the european or nyse market. It can help visualize key price levels from the prior trading session, such as:- European market close- NYSE closeThese levels are often relevant around significant market open times, for instance:- 8:00 AM: Futures open- 9:00 AM: European floor markets open- 5:30 PM: European close- 10:00 PM: Futures markets close (e.
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 Previous Day Closing Price 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
This indicator displays the previous day's closing price for either the European or NYSE market.
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: Candle Closing Time Remaining (CCTR) Version 3 - another powerful indicator for MetaTrader 4 traders.
This indicator displays the previous day's closing price for either the European or NYSE market.Also recommended: pivot point with adjustable closing time - similar indicator with strong performance on MetaTrader 4.
It can help visualize key price levels from the prior trading session, such as:
- European market close
- NYSE close
These levels are often relevant around significant market open times, for instance:
- 8:00 AM: Futures open
- 9:00 AM: European floor markets open
- 5:30 PM: European close
- 10:00 PM: Futures markets close (e.g., German DAX futures)
Understanding these historical closing points can provide valuable context for current trading decisions.
You may also like: high, low and close of the previous day, week or month - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 blue
#property indicator_style1 4
#property indicator_width1 1
double todayopenbuffer[];
extern double timezoneofdata=0;
extern double horizontaloffset=20;
int init()
{.......
⚠ 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.