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2016.03.01 15:50
Indicators

Simple Horizontal Grid - indicator for MetaTrader 4

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The indicator places a series of equidistant adaptive horizontal lines to a chart. The lines are updated with every chart change and are independent on symbol or scale. If the user changes the vertical scale, the indicator adds or removes lines accordingly.

The lines have two colours, the primary colour is dedicated to lines glued to round numbers, the weak colour is for secondary lines equidistantly placed between the round-number lines.

The user may swap their colours.

The indicator works out of box, but user may adjust a few parameters.

Additional input settings:

  • density of lines (distance between lines)
  • number of secondary lines between two primary lines
  • switch off displaying the primary line labels on the scale

Recommendations:

The standard grid should be switched off (ctrl+G) when using this indicator

Switching the object descriptions on (F8 - Show Objects Description) makes visible line labels on left. They may be used as a substitute for the hidden scale labels.

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