vr - otkat
Info
The vr - otkat is a Script for MetaTrader 4 that this script helps identify the best entry points in the market based on trend pullbacks. the script is based on levels similar to fibonacci levels.
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 vr - otkat
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 script helps identify the best entry points in the market based on trend pullbacks.
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: closed wi n - another powerful script for MetaTrader 4 traders.
this script helps identify the best entry points in the market based on trend pullbacks.the script is based on levels similar to fibonacci levels.
Also recommended: extremums - similar script with strong performance on MetaTrader 4.
unlike fibonacci levels, this script defines six clear levels:
- 0%
- 30%
- 50%
- 70%
- 100%
- 160%
the first pullback level at 30% is the most frequently traded.
the second pullback level is at 50%.
if the price reaches the 70% level, it indicates a trend reversal or a flat market.
example:
on december 10, a new local minimum appeared, and the price started forming an uptrend.
trends are not eternal, and there are pullbacks and corrections at certain moments.
as seen in the screenshot, the price changed direction on december 12.
we launch the script and draw the lines as follows:
the 0% level line should start from the local minimum/maximum.
the 100% level line should be at the new maximum.
the 0% line should be extended so that the red line becomes a support in the lower left corner, indicating the trend's angle.
possible buy positions:
in an uptrend, place the first buy limits at the 70% level.
place the second buy limits at the 50% level.
set stop losses at the 30% level.
set take profits at the 160% level, with a +/- 20-40 point range.
for sell orders, reverse the conditions for buy orders.
example of the latest possible buys:
this code is not recommended for use without additional signals, but it is a good assistant.
You may also like: loc line pips history - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
int start ()
{
if (istesting() == true)
{
fun_code();
}
else
{.......
⚠ 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.