turn area
Info
The turn area is a Indicator for MetaTrader 4 that the indicator displays the areas of the potential price reversals. it is based on the moving average and rsi indicators, and shows their difference.
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 turn area
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 displays the areas of the potential price reversals.
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: center of gravity indicator: precise turning points with zero lag - another powerful indicator for MetaTrader 4 traders.
Also recommended: the logarithmic rate of return, or the increment of price logarithms - similar indicator with strong performance on MetaTrader 4.
the indicator displays the areas of the potential price reversals.it is based on the moving average and rsi indicators, and shows their difference.
description of the indicator settings:
ema_period — the averaging period for the calculation of the moving average indicator.
ema_method — averaging method. can be any of the enumeration values, sma — simple averaging, ema — exponential averaging, smma — smoothed averaging, lwma — linearly weighted averaging.
ema_price — applied price. it can be one of the enumeration values. close — close price. open — open price. high — high price for the period. low — low price for the period. median — median price, (high+low)/2. typical — typical price, (high+low+close)/3. weighted — weighted close price, (high+low+close+close)/4.
rsi_period — averaging period for the rsi calculation.
psi_price — applied price. similar to ema_price.
You may also like: turn area chart - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 clrdarkviolet
#property indicator_width1 2
#property indicator_levelcolor clrsilver
#property indicator_levelstyle style_solid.......
⚠ 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.