Tool Box
Info
The Tool Box is a Indicator for MetaTrader 4 that changelog:information provided:button to change the timeframe or set it to auto mode. Buttons (+) and (-) to adjust the lot size.
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 Tool Box
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
Changelog:Information provided:Button to change the timeframe or set it to auto mode.
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: currency indicator: a comprehensive trading tool - another powerful indicator for MetaTrader 4 traders.
Changelog:Information provided:
Also recommended: spread data logger tool - similar indicator with strong performance on MetaTrader 4.
Button to change the timeframe or set it to auto mode.
Buttons (+) and (-) to adjust the lot size. You can also use 'p' and 'm' shortcuts for lot size changes.
Line 1:
- Lot size
- Countdown of the current candle
- Price at the mouse position
Line 2:
- Pip value in your currency
- ATR
- Swap buy
- Swap sell
Line 3:
- Average pips in the last 20 periods of the chosen timeframe
- Same information in monetary value
Line 4: Same as Line 3 but for the last 10 periods.
Line 5: Same as Line 3 but for the last 5 periods.
Line 6: Same information for the current candle.
Line 7:
- Spread in pips
- Percentage of spread over the average of the last 5 periods
- Spread in your currency
Line 8: When you click on the chart, it displays:
- Value between the current price and mouse click in your currency
- Same value in pips
- Mouse click price
Line 9: When you move the mouse, it shows:
- Pips between open and close of a candle
- Pips between high and low of the candle
- Datetime of the candle
Options:
Activate the range of the chosen period.
Enable the Estimated Time of Arrival (ETA) for your take profit.
Parameters:
Lot: Specify the lot size you typically use.
ActiveRangeLine: Display the range of the average range of the last 5 periods. [true/false]
ActiveTakeProfitETA: Show the date and time when your take profit may be reached. [true/false]
When you move your mouse over the chart, you can see the pip difference between open and close (OC) and high and low (HL).
A movable black square is available, and the text will follow its position.
Clicking on the chart displays the monetary value between the click and the market price, helping assess trade potential and profitability.
The blue line represents the range of the period based on the average of the last five periods.
You can see two trades with take profit, with the first take profit's ETA displayed.
You may also like: A Valuable Trading Tool - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.02"
#property script_show_inputs
#property indicator_chart_window
#property strict
extern double lotsize=0.1; //your lot size
extern color labelcolor=clrwhite; //text color
bool excludesundaydata=true;
extern bool activerangeline=true; //active range line.......
⚠ 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.