Three scripts for working with horizontal levels
Info
The Three scripts for working with horizontal levels is a Script for MetaTrader 4 that it is often necessary to know the distance in points between two levels of a chart. For example, in order to find out the exact current distance between today's High and Low.
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 Three scripts for working with horizontal levels
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
It is often necessary to know the distance in points between two levels of a chart.
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: Trading scripts with pictures - another powerful script for MetaTrader 4 traders.
It is often necessary to know the distance in points between two levels of a chart. For example, in order to find out the exact current distance between today's High and Low.To avoid calculating it manually, the following can be done: using the Lines_Create script create 2 horizontal lines on the chart (it creates green and red lines). Move the green line up and the red line down to the required levels. Then use the Lines_RASST script, which displays a message about the number of points in the distance between the two horizontal lines. (Illustration below.). But therAlso recommended: A set of scripts for a quick trade with the mouse - similar script with strong performance on MetaTrader 4.
e is a nuance. Due to the fact that the Lines_RASST script has a delay in its code, it is necessary not to simply drop in on the chart, or simply double-click the script, it is also necessary to make a single left mouse button click on the chart window. Only in this case the label which tells the distance appears, and automatically disappears 5 seconds after. If the Lines_RASST script is called and the additional click on the window was not made, then after 5 seconds the script will be unloaded from the memory,and you will not see anything on the screen, no labels (I do not know why the terminal is done that way). Here is the result of the Lines_Create and Lines_RASST operation.After all that the Lines_Delete can be launched, which deletes only those two lines from the chart.You may also like: Brooky Fib It Scripts - excellent alternative for script users on MetaTrader 4.
⚠ 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.