Horizontal Line Indicator MT4

Pipsaholic

Well-known member
Messages
277
Likes
3
Looking for a horizontal line indicator for mt4 that draws lines of the last 10/20 candles and adjusts as price moves it has to be customizable not set.

Makes life easier rather than using your crosshair tool or drawing lines every 10-20 candles.
 
I'm not sure if it's what you're looking for, but have you looked at a Donchian Channel indicator?
It creates a High-Low channel of "n" bars.
 
I think this will be useful for day traders and scalpers.
It shows S&R horizontal lines that are based on current trading patterns and not the usual daily S&R. They delete after being crossed so that you know the current S&R channel.
Illustration to show how they work.
You can change the back period to 20 if that is your wish.
TEAMTRADER
 

Attachments

  • DE30sbM1.png
    DE30sbM1.png
    43.8 KB · Views: 586
  • Fulcrum Master 5.ex4
    19.9 KB · Views: 363
I think this will be useful for day traders and scalpers.
It shows S&R horizontal lines that are based on current trading patterns and not the usual daily S&R. They delete after being crossed so that you know the current S&R channel.
Illustration to show how they work.
You can change the back period to 20 if that is your wish.
TEAMTRADER
interesting indicator, I will test it with my trend indicator.......thanks
 
Top