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2013.12.16 07:21
Weekly Open Horizontal Line + Horizontal Target Lines

Weekly Open Horizontal Line + Horizontal Target Lines - indicator for MetaTrader 4

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Indicators:

  1. Weekly Open + Targets
  2. Weekly Open (no Targets)

These two indicators are modifications of the HI_Low Indicator.

//+------------------------------------------------------------------+
//|                                                MTF_HI_LOW_v1.mq4 |
//|                      Copyright © 2006, MetaQuotes Software Corp. |
//|                                        http://www.metaquotes.net |
//+------------------------------------------------------------------+
// Weekly Open + Targets: Modifications by File45 - http://codebase.mql4.com/en/author/file45

Weekly Open + Targets:

  1. A Weekly Open Horizontal Line
  2. A Target Line above the Weekly Open Line (Long Target)
  3. A Target Line below the Weekly Open Line (Short Target)
  • If a Target Line is not required it can be hidden by setting the color to None (from the Inputs Tab not the Colors Tab).
  • If both Target Lines are not required use Weekly Open Indicator which has no Target Lines.

SP500 - H4

The Target Lines provide a useful means to eyeball the historic weekly range of an instrument or symbol. The Target Lines below are set at 200 points (20 pips).


Parameters

  • CountDays - 110;
  • Weekly_Open - LightSlateGray;
  • TP_Long_Target - Green;
  • TP_Short_Target - Red;
  • TP_Target - 500;
  • Line_Style - 0;
  • Line_Width - 2;