extrend indicator
Info
The extrend indicator is a Script for MetaTrader 4 that this indicator is an evolution of the fractallines indicator. the indicator draws only two current fractal lines based on the two nearest upper and lower fractals.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 extrend indicator
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 is an evolution of the fractallines indicator.
Typical Use Case
This Script excels in trend following 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 is an evolution of the fractallines indicator.the indicator draws only two current fractal lines based on the two nearest upper and lower fractals. the additional window displays the slope of the upper and lower fractal lines.
Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.
a zero angle value means the line is parallel to the horizontal axis. a positive value indicates an upward slope, and a negative value indicates a downward slope.
the indicator is optimized for the 4h timeframe.
extrend
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_minimum -0.5
#property indicator_maximum 0.5
#property indicator_buffers 2
#property indicator_color1 green
#property indicator_color2 red
double trbufferup[];
double trbufferdn[];.......
⚠ 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.