Script and Template for Market Analysis
Info
The Script and Template for Market Analysis is a Script for MetaTrader 5 that if you apply the script to a new chart it will search the templates directory for the _sohard_db_wyuez_. tpl file that I made (it contains all parameters for the script) and apply those to all other charts you've opened already.
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 Script and Template for Market Analysis
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
If you apply the script to a new chart it will search the Templates directory for the _SoHarD_dB_wyuEz_.
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: Project Template Generator - another powerful script for MetaTrader 5 traders.
If you apply the script to a new chart it will search the Templates directory for the _SoHarD_dB_wyuEz_.tpl file that I made (it contains all parameters for the script) and apply those to all other charts you've opened already.
Also recommended: Demo Create OB J BIT M A P Script - similar script with strong performance on MetaTrader 5.
The script will project 6 Exponential Moving Averages on a Chinese candlestick chart, the same ones used as indicators on the Investing.com website so it's easy to see the numbers on the website projected on your charts in 6 different colors.This is helpful to me so I hope you can use it to your benefit too.
On the lower part of the chart you'll have 5 different indicators, Volume graph indicating ascending and descending real volumes in red and green, Average True Range (7) that indicates how many pips of movement was on the last 7 candlesticks, bear in mind that this indicator has a bit of lag so it's a bit behind on the chart, the default setting is 14 but I find it lagging too much.
RSI is below that and I customized this one too so now you'll see the high level on 80% and lower on 20% and in red so it's more accurate to read, below that there's a Stochastic oscillator customized upper and lower level in blue, signal line in red, average in green. The last one is the MACD (12,26,9) with the signal line customized so it's easier to read.
I hope you like my work and use it for your own benefit, till next time, TheDutchTrader at _SoHarD_dB_w@®Ez_
For the script to work properly you'll have to copy the ".tpl" file to the correct directory, location is: MQL5 Terminal directory under "profiles\Templates"
You may also like: Objects Description Activator - 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.