simple horizontal grid
Info
The simple horizontal grid is a Indicator for MetaTrader 4 that the indicator places a series of equidistant adaptive horizontal lines to a chart. the lines are updated with every chart change and are independent on symbol or scale.
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 simple horizontal grid
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 indicator places a series of equidistant adaptive horizontal lines to a 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: horizontal volume - another powerful indicator for MetaTrader 4 traders.
the indicator places a series of equidistant adaptive horizontal lines to a chart. the lines are updated with every chart change and are independent on symbol or scale. if the user changes the vertical scale, the indicator adds or removes lines accordingly.
Also recommended: simple moving average crossover strategy - similar indicator with strong performance on MetaTrader 4.
the lines have two colours, the primary colour is dedicated to lines glued to round numbers, the weak colour is for secondary lines equidistantly placed between the round-number lines.the user may swap their colours.
the indicator works out of box, but user may adjust a few parameters.
additional input settings:
density of lines (distance between lines)
number of secondary lines between two primary lines
switch off displaying the primary line labels on the scale
recommendations:
the standard grid should be switched off (ctrl+g) when using this indicator
switching the object descriptions on (f8 - show objects description) makes visible line labels on left. they may be used as a substitute for the hidden scale labels.
You may also like: identifying missing bars in your chart: two simple indicators - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property strict
#property indicator_chart_window
#define version "201.003"
#property version version
#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"
enum linetype
{
none = 0, // none .......
⚠ 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.