Real Value Indicator
Info
The Real Value Indicator is a Indicator for MetaTrader 4 that this indicator estimates the real market value, aiming to provide a slower-moving alternative to the market price with better fitting than a moving average. The indicator's movement is dependent on the price movement.
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 Real Value 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 estimates the real market value, aiming to provide a slower-moving alternative to the market price with better fitting than a moving average.
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: i market price 2.1 - real-time price information indicator - another powerful indicator for MetaTrader 4 traders.
This indicator estimates the real market value, aiming to provide a slower-moving alternative to the market price with better fitting than a moving average.Also recommended: dynamic fair value gap indicator for metatrader 4 - similar indicator with strong performance on MetaTrader 4.
The indicator's movement is dependent on the price movement. If the price moves up and is above the indicator, the indicator also moves up. Conversely, if the price moves down and is below the indicator, the indicator follows suit. The speed of movement is proportional to the average of the differences between the minimums and maximums of the bars within a specified period.
You may also like: zig z a g on fractals without redrawing values - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 red
extern double alpha=1;
extern double variation=3.0;
extern int period=20;
double buffer[];
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.