Angulation Indicator for MT4/MT5
Info
The Angulation Indicator for MT4/MT5 is a Script for MetaTrader 4 that this indicator draws angulation lines on the chart, which assist in making trading decisions to enter or exit the market. The indicator constructs angulation rays starting from the Alligator indicator's crossovers up to the current bar.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Angulation Indicator for MT4/MT5
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This indicator draws angulation lines on the chart, which assist in making trading decisions to enter or exit the market.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: notches indicator - another powerful script for MetaTrader 4 traders.
This indicator draws angulation lines on the chart, which assist in making trading decisions to enter or exit the market.Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.
The indicator constructs angulation rays starting from the Alligator indicator's crossovers up to the current bar. It offers a choice for the comparison base: either the Alligator's blue line or the average of the blue and red lines. The angulation angle is displayed in the top-left corner.Angulation is shown for any bar formed after the Alligator's jaws cross (not exclusively for reversal bars).
Settings:
show angulation lines
- Draw angulation lines.
show info
- Display additional information (angulation degrees, calculation points, bar count).
minimal angle to filter
- The angle (in degrees) above which angulation lines are displayed. Default is 22 degrees.
bars to find angulation
- The number of bars to consider for finding angulation after the Alligator lines cross. Default is 20 bars.
base of comparison
- Method for determining the base line: 'only jaws' uses the Alligator's blue line; 'average (jaws+teeth)' uses the arithmetic mean between the Alligator's red and blue lines. Default is 'average (jaws+teeth)'.
vertical-horizontal ratio
- The ratio of your monitor's vertical to horizontal resolution (in percent). For example, a monitor with 1600x900 resolution would have a ratio of 56%. Default is 60%.
colors
- Settings for the indicator line colors.
You may also like: order information indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property strict
#property indicator_chart_window
enum AB
{
J =0, //Only Jaws
JT=1, //Average (Jaws+Teeth)
};
extern string Comment1 = ""; //Visualisation.......
⚠ 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.