Price Position Indicator
Info
The Price Position Indicator is a Indicator for MetaTrader 4 that the price position indicator provides valuable insights into price movements relative to a specific angle. It displays the position of the price in the point of angle when the price rises above (buy) or falls below (sell) the angle section line.
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 Price Position 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
The Price Position Indicator provides valuable insights into price movements relative to a specific angle.
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: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - another powerful indicator for MetaTrader 4 traders.
The Price Position Indicator provides valuable insights into price movements relative to a specific angle. It displays the position of the price in the point of angle when the price rises above (buy) or falls below (sell) the angle section line.Also recommended: i market price 2.1 - real-time price information indicator - similar indicator with strong performance on MetaTrader 4.
Key features include:
- Price Position: Identifies the price's position relative to the angle, aiding in buy and sell decisions.
- Current Price (OHLC): Displays the current price, including open, high, low, and close values.
- Angle Direction Alerts: Notifies when the angle direction changes, allowing traders to react to market shifts.
Customization Options:
- Corner Position Display: Choose to display the indicator at the left or right corner for better visibility.
- Alert Control: Enable or disable alerts as per your trading strategy.
This indicator is a powerful tool for traders who utilize angle-based analysis, offering a comprehensive view of price behavior and timely notifications for informed decision-making.
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 version "2.00"
#property strict
#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"
/* update 1 version "2.00" 18/10/2016
~ add display options for corner position, at the lefthand or at the righthand
~ add options to turn on or turn off alerts
*/.......
⚠ 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.