horizontal grid lines
Info
The horizontal grid lines is a Indicator for MetaTrader 5 that this indicator creates static horizontal price lines at specific interval on the chart. these lines are very useful in price action trading.
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 horizontal grid lines
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 creates static horizontal price lines at specific interval on the chart.
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 creates static horizontal price lines at specific interval on the chart. these lines are very useful in price action trading.
Also recommended: Vertical Horizontal Filter (VHF) - similar indicator with strong performance on MetaTrader 5.
in order to use this indicator, add the indicator to the main chart and select appropriate number of lines and interval as per your requirements. you can also change the line color and styles as well.settings:
lines —
number of lines on both side of current price;
interval —
space between grid lines;
line_style —
line style;
line_width —
width of grid lines;
line_color —
color of the grid lines.
example:
You may also like: vgrid Line Annual - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_plots 0
input int lines=100;
input int interval=200;
input enum_line_style line_style=style_dot;
input int line_width = 1;
input color line_color = c'128, 50, 50';.......
⚠ 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.