Grid Maker
Info
The Grid Maker is a Indicator for MetaTrader 5 that this indicator displays customizable vertical and horizontal lines, offering a versatile tool for various trading strategies. The indicator's key features include:- Entry levels indicated by dashed yellow lines.
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 Grid Maker
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
This indicator displays customizable vertical and horizontal lines, offering a versatile tool for various trading strategies.
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: setka (grid) indicator for metatrader 4/5 - another powerful indicator for MetaTrader 5 traders.
This indicator displays customizable vertical and horizontal lines, offering a versatile tool for various trading strategies.Also recommended: vgrid Line Annual - similar indicator with strong performance on MetaTrader 5.
The indicator's key features include:
- Entry levels indicated by dashed yellow lines.
- Target price (TP) shown as solid lime lines.
Users can adjust the distance between lines to suit their preferences and trading style.
Additionally, the indicator features vertical lines marking the most active trading hours, which can be customized in the settings.
You may also like: Monthly Vertical Grid Line Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.03"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_plots 1
input int step = 1000; // step for horintal lines
input double max = 1.4; // max price value
input double min = 1.2; // min price value
input string settings_h = "displacement for horizontal lines"; .......
⚠ 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.