monthly weekly levels
Info
The monthly weekly levels is a Script for MetaTrader 5 that the script displays the monthly and weekly levels on the chart. number of days — the number of days for calculation; w1 color of lines — the color of the weekly lines; w1 line width — the width of the weekly lines; w1 style of lines — the style of the weekly lines; mn1 color of lines — the color of the monthly lines; mn1 line width — the width of the monthly lines; mn1 style of lines — the style of the monthly lines; trend or horizontal line — display the lines using trend lines or horizontal lines.
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 monthly weekly levels
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
the script displays the monthly and weekly levels on the chart.
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: closing partially script and stop loss to break even point - another powerful script for MetaTrader 5 traders.
Also recommended: to clear chart objects by type - similar script with strong performance on MetaTrader 5.
the script displays the monthly and weekly levels on the chart.number of days — the number of days for calculation;
w1 color of lines — the color of the weekly lines;
w1 line width — the width of the weekly lines;
w1 style of lines — the style of the weekly lines;
mn1 color of lines — the color of the monthly lines;
mn1 line width — the width of the monthly lines;
mn1 style of lines — the style of the monthly lines;
trend or horizontal line — display the lines using trend lines or horizontal lines.
You may also like: sphere sample - excellent alternative for script users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property script_show_inputs
#property strict
input int days=200; //number of days
extern string comm0=""; //- - -- ---- weeks ---- -- - -
extern color w1_color=limegreen; //w1 color of lines
input int w1_width=3; //w1 line width.......
⚠ 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.