Functions for X to time, Y to price and vice versa
Info
The Functions for X to time, Y to price and vice versa is a Script for MetaTrader 5 that standard api functions chartxytotimeprice and charttimepricetoxy have significant drawbacks. For example, ChartXYToTimePrice works correctly only if the input parameters X and Y are in the visible area of the chart window, outside the window the function returns zeros.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Functions for X to time, Y to price and vice versa
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
Standard API functions ChartXYToTimePrice and ChartTimePriceToXY have significant drawbacks.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Script with example functions for creating graphical objects - another powerful script for MetaTrader 5 traders.
Also recommended: Key Finder 2. 0 - similar script with strong performance on MetaTrader 5.
Standard API functions ChartXYToTimePrice and ChartTimePriceToXY have significant drawbacks. For example, ChartXYToTimePrice works correctly only if the input parameters X and Y are in the visible area of the chart window, outside the window the function returns zeros. ChartTimePriceToXY also works incorrectly in some cases. Both functions are slow.I present the functions that work correctly in all ranges of input parameters:
A script demonstrating the correctness of the functions' work. The essence of its work is that the generated X and Y coordinates are converted to time and price, and then back to X and Y. If the input X and Y coordinates differ from the output ones, it means that the functions have problems and the script will print the discrepancy. If all is well, the script does not print anything during the work, but at the very end it will print the result
You may also like: Trap News MT5 - excellent alternative for script users on MetaTrader 5.
⚠ 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.