tick chart indicator
Info
The tick chart indicator is a Indicator for MetaTrader 4 that tick chartthis indicator shows the tick chart in a separate window, with an ask line. it also includes three additional variations that plot the median, typical, and weighted candle prices.
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 tick chart 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
tick chartthis indicator shows the tick chart in a separate window, with an ask line.
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: equity chart modeller - another powerful indicator for MetaTrader 4 traders.
tick chartthis indicator shows the tick chart in a separate window, with an ask line. it also includes three additional variations that plot the median, typical, and weighted candle prices.
Also recommended: albus multi chart 1: advanced chart overlay for metatrader - similar indicator with strong performance on MetaTrader 4.
the price lines can be used for support and resistance, and to gauge the direction of movement. they can also be used for trading signals when the bid line crosses or bounces off them.
the calculations for the additional variations are as follows:
- median = high + low / 2
- typical = high + low + close / 3
- weighted = high + low + close + close / 4
all four indicators are shown in the window.
You may also like: macd indicator on price chart - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 red
#property indicator_color2 cornsilk
#property indicator_color3 blue
#property indicator_color4 gray
extern int period=2000;
extern int width=50;.......
⚠ 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.