Price Degrees Indicator with Trend Alerts for MT4/MT5
Info
The Price Degrees Indicator with Trend Alerts for MT4/MT5 is a Indicator for MetaTrader 4 that price degrees indicator displays the current price position in degrees relative to the trend status on the active timeframe. It provides alerts when the price position or trend condition changes.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Price Degrees Indicator with Trend Alerts for MT4/MT5
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
Price Degrees Indicator displays the current price position in degrees relative to the trend status on the active timeframe.
Typical Use Case
This Indicator excels in trend following 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: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - another powerful indicator for MetaTrader 4 traders.
Price Degrees Indicator displays the current price position in degrees relative to the trend status on the active timeframe. It provides alerts when the price position or trend condition changes.Also recommended: i market price 2.1 - real-time price information indicator - similar indicator with strong performance on MetaTrader 4.
This indicator is not a buy/sell signal generator. Instead, it measures the price position, direction, and trend status within the current trading timeframe.
The indicator categorizes price positions into four degree ranges:
- 270 to 310 degrees: Strong bearish position.
- 315 to 360 (0) degrees: Bearish position.
- 0 to 45 degrees: Bullish position.
- 50 to 90 degrees: Strong bullish position.
The indicator provides visual cues for trend status based on color and arrow combinations:
- Rounded blue and blue arrow: Strong bullish trend.
- Rounded blue and aqua arrow: Weakening bullish trend.
- Rounded aqua and blue arrow: Strengthening bullish trend.
- Rounded aqua and yellow arrow: Trend shifting towards bearish.
- Rounded yellow and aqua arrow: Trend shifting towards bullish.
- Rounded yellow and red arrow: Strengthening bearish trend.
- Rounded red and yellow arrow: Weakening bearish trend.
- Rounded red and red arrow: Strong bearish trend.
To simplify trend visualization on your current chart, the Price Degrees indicator includes the "pricedegrees_template" template.
You may also like: exchange price indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
extern string pricedegrees="copyright 2014 3rj ~ roy philips-jacobs";
extern bool msgalerts = true;
extern bool soundalerts = true;.......
⚠ 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.