Prime Levels Black Indicator
Info
The Prime Levels Black Indicator is a Indicator for MetaTrader 4 that this indicator places up to 6 lines at prime levels of your choice in a successive pattern on the chart. You can customize the pattern by selecting the price levels for each line, with the option to repeat the pattern multiple times above and below the initial range.
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 Prime Levels Black 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 places up to 6 lines at prime levels of your choice in a successive pattern on the chart.
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 psychological levels and magnet zones indicator - another powerful indicator for MetaTrader 4 traders.
This indicator places up to 6 lines at prime levels of your choice in a successive pattern on the chart.Also recommended: auto fibonacci retracement levels for mt4 - similar indicator with strong performance on MetaTrader 4.
You can customize the pattern by selecting the price levels for each line, with the option to repeat the pattern multiple times above and below the initial range.
Features:
- Customizable line levels: Set the price levels for each line, with additional customizable levels at 66 and 33 pips, where prices often bounce.
- Line customization: Choose the color, style, and thickness of each line.
- Individual line control: Turn on/off each line separately.
- Right margin price labels: Display or hide price labels on the right margin for full-screen-wide lines.
- Line subordination: Subordinate lines to create a hierarchical structure.
- Label customization: Customize label colors, font sizes, and styles. Add a custom name and price to each label.
- Label positioning: Position labels from the right (0) to the far left (100) of the current candle, with subordination.
- Indicator on/off switch: Turn off the indicator while preserving chart settings.
- Time frame control: Set a time frame above which the indicator will not display, allowing for analysis on larger time frames without clutter.
Example usage:
- EURUSD.F, H1: PrimeLevelsBlack
- EURUSD.F, M15: PrimeLevelsBlack
- EURUSD.F, M5: PrimeLevelsBlack
Inputs:
- Page 1
- Page 2
Acknowledgments:
- doblece: For enabling compatibility with platforms having unconventional point digits (0.00001 and 0.001) and adding customizable line levels at 66 and 33 pips.
- domas4: For the code to automatically hide the indicator above a specified time frame.
- shimodax: For the initial idea and core code (sweetspots.mq4).
You may also like: donchian channel with fibbed levels and alerts - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
/*------------------------------------------------------------------------------------
suggested settings: white chart black chart
line1_color red red
line2_color blue blue
line3_color olive olive
line4_color olive olive
line5_color limegreen forestgreen
line6_color limegreen forestgreen .......
⚠ 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.