FATL-SATL Balance Indicator
Info
The FATL-SATL Balance Indicator is a Script for MetaTrader 4 that this indicator represents the balance line between the satl and fatl trend digital filtering indicators. It can be utilized for smoothing signals generated by these indicators.
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 FATL-SATL Balance 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 represents the balance line between the SATL and FATL trend digital filtering indicators.
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: balance graph ht m l (mt4) - another powerful script for MetaTrader 4 traders.
This indicator represents the balance line between the SATL and FATL trend digital filtering indicators.Also recommended: place hedge order of unbalanced positions in mt4 - similar script with strong performance on MetaTrader 4.
It can be utilized for smoothing signals generated by these indicators.
There are no adjustable settings for this indicator.
Additionally, a multi-timeframe version is included.
In the visualization: the yellow line represents FATL, the green line represents SATL, and the black line is the balance line.
Dotted lines illustrate readings from a higher timeframe.
You may also like: indicator for day trading 5 min chart - excellent alternative for script users on MetaTrader 4.
Source Code
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 LightSalmon
extern int TimeFrame = 1440; // {1=M1, 5=M5, 15=M15, ..., 1440=D1, 10080=W1, 43200=MN1}
double Buffer[],
BufferCurrent[];
string IndicatorName = "fatl-satl balance";
int init()
{.......
⚠ 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.