Script “Close All” and other useful scripts for MetaTrader4.

The Script in the MetaTrader4 trading terminal is a small program that performs a one-time action and is disabled.

Metatrader 4 Scripts

At the end of this article you can download the “Close All” script and other scripts for managing multiple positions in the MetaTrader4 trading terminal. Continue reading

MACD divergence indicator for MT4

In the article “MACD – non-standard use on Forex”” I already described the technical indicator FX5 MACD DIVERGENCE, which determines the divergence of the MACD indicator.

MACD Divergence Indicator on AUDUSD

In this article, I present to your attention another technical indicator for the MT4 trading terminal, revealing the divergence of the MACD indicator. Continue reading

Breakeven level information indicator for MT4.

Some forex trading strategies include splitting one position into several smaller ones, adding to already open positions or averaging.

ProfitLine on EURCHF

When opening several positions, it is not very convenient to manually calculate the breakeven level for all open positions in the MT4 terminal.

This task is greatly facilitated by a simple breakeven indicator. Continue reading

Setting the Moving Average to another indicator in the MT4 terminal

Technical capabilities of the MetaTrader 4 (MT4) terminal allow you to impose a moving average on any other indicator in the terminal.

RSI Indicator and Moving Average

In the picture above you see how a simple moving average with a period of 21 (red line) is applied to the standard RSI indicator with a period of 14 (blue line). How to do it yourself? Continue reading

DailyPercentageChange – indicator of daily price change in percent for MT4(5)

DailyPercentageChange is a technical indicator for the MetaTrader 4 (5) terminal, which calculates the change in the price of a currency pair on Forex relative to the close of a previous day.

DailyPercentageChange Forex Indicator

The indicator calculates the daily change in percent and shows it in the corner of the main chart window. Continue reading

ACB Inside Bar – technical indicator of the inside bar on Forex.

The inside bar is a very popular candle setup or pattern (as you like more) in forex technical analysis.

Indicator ACB Inside Bar on the price chart
ACB Inside Bar – a powerful technical indicator for the terminal MetaTrader 4, which greatly simplifies and automates the search for an inside bar on price charts. Continue reading

Day Bar Info – indicator of the daily range for MT4/5

Day Bar Info is a simple and very useful technical indicator for MT4 / 5 trading terminal.

Day Bar Info Indicator
The indicator draws a daily candle on the price chart and shows the sizes of the upper and lower shadows, the body and the whole day candle in the points. Continue reading

Candles – simple volatility indicator for the forex market

Candles is a simple technical indicator of Forex volatility for the MetaTrader terminal.

Indicator Candles on the EURUSD Daily chart
The Candles indicator draws the height of the candle with shadows in a separate chart window. Continue reading

Custom Bands – improved Bollinger Bands (BB) indicator for MT4

The classic Bollinger Bands (BB) technical indicator is one of the most popular and well-known technical indicators of the Forex market, which is included in all trading terminals.

Custom bands (Bollinger Bands) Settings
However, the classic indicator is calculated on the basis of the standard deviation only from a simple moving average. Continue reading

Forex indicator Alerter – sound and push alerts for levels.

We bring to your attention a very simple but extremely useful forex technical indicator “Alerter” for the MetaTrader4 trading terminal. This indicator provides audio, information, push and email notifications on your choice when the quotation of the currency pair on the chart touch or approach to the standard support or resistance levels.

Indicator Alerter-alarm

And this indicator is attached to the horizontal support and resistance lines, plotted on the chart by the standard means of the MetaTrader 4 terminal. Continue reading

Spread – indicator of the spread for Metatrader 4 and 5.

The technical indicator “Spread” is an extremely simple but at the same time useful spread indicator for all traders using the Metatrader 4 or 5 terminal in their trading.

Technical forex indicator Spread on chartCurrently, most major forex brokers provide retail traders with ECN (Electronic Communication Network) trading accounts with a minimal spread over the main currency pairs. As a result of the transaction, retail traders are withdrawn directly to liquidity providers, which is an additional guarantee of high-quality and fastest execution of transactions. Continue reading

Indicators MT4: MACD – non-standard use on Forex

MACD (Moving Average Convergence Divergence) is an indicator used in technical analysis to evaluate and predict price fluctuations in all financial markets, including Forex.

Comparison of MACD technical indicators

MACD was developed by Gerald Appel in 1979 and is one of the most popular technical indicators. The popularity of MACD is based on the fact that other popular technical indicators are used for its calculation – exponential moving averages. Continue reading

Forex Indicators: 3 moving averages for all timeframes.

Moving average (MA) – one of the most popular and most common technical forex indicator.

3 moving average indicator on USDJPY M30

The application of moving averages on Forex is based on the analysis of the behavior of a currency pair relative to the moving average price of a pair for a certain period (the number of candles). It is believed that with the help of moving averages, more money was earned in the forex market than with any other strategy. Continue reading