Figure Builder Tool for MT4/MT5
Info
The Figure Builder Tool for MT4/MT5 is a Indicator for MetaTrader 5 that the figure builder tool allows you to draw a shape on your chart based on a specified number of points. To add a point, press and hold the CTRL key and left-click on the chart.
Usage
This tool is typically used for enhancing chart analysis and decision making.
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 Figure Builder Tool for MT4/MT5
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
The Figure Builder tool allows you to draw a shape on your chart based on a specified number of points.
Typical Use Case
This Indicator excels in automated trading and technical analysis 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: Point and Figure Charting Tool - another powerful indicator for MetaTrader 5 traders.
The Figure Builder tool allows you to draw a shape on your chart based on a specified number of points.Also recommended: Point and Figure - similar indicator with strong performance on MetaTrader 5.
To add a point, press and hold the CTRL key and left-click on the chart.
Once the maximum number of points (defined in 'Dots Max Number') are added, the program will plot the shape.
All Commands
- CTRL + Left Click: Add a point to the chart.
- CTRL + Backspace: Undo the last action.
- CTRL + Delete: Delete all graphical objects from the chart. This command removes objects whose names start with the characters specified in 'Objects Prefix Name'. The prefix can be entered as 'name' or 'name*', both methods function identically.
Settings
Objects Prefix Name
- This is the prefix used to identify and delete graphical objects. Objects starting with this specified set of characters will be removed. You can enter the prefix as 'name' or 'name*'; both ways work the same. If an empty string is provided, 'figure' will be used as the default prefix.
The "Dot" Block
Dots Max Number
- The total number of points required before the program draws the shape.
Empty Dot Code
- The code representing an empty point.
Empty Dot Width
- The width of an empty point.
Filled Dot Code
- The code for the points that form the drawn shape.
Filled Dot Width
- The width of the points that make up the drawn shape.
The "Line" Block
First Dot Line Left Ray
- Enables drawing the line from the first point as a ray extending infinitely to the left.
Last Dot Line Right Ray
- Enables drawing the line from the last point as a ray extending infinitely to the right.
Lines Color
- The color of the shape's lines.
Lines Style
- The style of the shape's lines.
Lines Width
- The width of the shape's lines.
Examples
You may also like: Figurelli Series Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.