custom angle trendline
Info
The custom angle trendline is a Indicator for MetaTrader 5 that sometime we have to work with custom angles based trendline for price action analysis e. g.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use custom angle trendline
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
sometime we have to work with custom angles based trendline for price action analysis e.
Typical Use Case
This Indicator excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: custom macd indicator for metatrader 4/5 - another powerful indicator for MetaTrader 5 traders.
sometime we have to work with custom angles based trendline for price action analysis e.g. 45 degree angle is considered more important for up or down trend.this indicator will help you by drawing a trendline which will match your custom angle on last input number of bars
Also recommended: macd indicator with custom timeframe - similar indicator with strong performance on MetaTrader 5.
first right click on chart > go to properties > common and scale chart that you are comfortable withselect indicator settings and input your custom angle in degress e.g. 45you have two options - set downline angle degree and set upline angle degreeyou can select previous number of bars to consider for calculationthen this indicator will find two recent high and low for specified previous bars and plot a trendline that will follow your custom input angle
You may also like: custom moving average indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property description "Educational code - RobotFX www.robotfx.org"
#property indicator_chart_window
#property indicator_buffers 0
#property indicator_plots 0
enum Width {
Width_1=1, //1
Width_2, //2.......
⚠ 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.