I am involved in a class, but the teacher is not using MT-4 Charts. What I am seeking help on is an indicator that will simply draw lines on the MT-4 charts at pre-determined intervals (plotting), and put the appropriate price of the line to the left of the screen as shown in the picture below if I enter the top number. I have included a picture of what it looks like if I enter them manually. I can assure you; this takes quite a long time to enter all of them. Any help would be appreciated.
Maybe there is already an indicator that does something similar that can be modified.
Try this one for fibo indicator
Forex Indicators Collection
Thanks, this will help, it does calculations but maybe we can put a true/false switch on this feature. It is hard to just get lines ploted on the chart. I think this will do the trick.
Or maybe this?
This indicator just puts lines on your chart at your desired intervals, no calculations.
Solutions for grid Tradeing Systems in Trendmarkets?
have some one good tip what can one make in Trendmarket to dont lose so much money whith a grid system I have heard about lot sizing and flexsible grid levels but I dont have find so good solutions, the loses always grow up.
use other indicator that indicate the trend ...so u can always follow the trend and entry using the grid system
Grid trading flaws
This thread is not about grid trading but I will answer your question anyway.
NO...there is no way to just apply a standard grid on chart and have it be profitable during trending periods. I'm sure as you have experienced, trending periods will only push buy and sell orders further and further apart until you carry these immense positions with a big empty gap in the middle (hedge distance). Meanwhile, although you have the illusion your account is growing (balance going up due to closed trades), the equity is dropping horrendously due to spread bleed with each trade and losses either side.
Even grids with some sort of 'lot sizing flexibility' as you mention experience the same issues.
The bottom line is this - GRIDS STILL REQUIRE DIRECTIONAL BIAS OTHERWISE THEY ARE NO BETTER THAN MARTINGALE.
People I know that use them do so sparingly like a tool. Breakout strategies for placing orders around news time, afterwhich you quickly deactivate. Those that use them a little more are very experienced and KNOW HOW TO TRADE ALREADY. In order for a grid to be profitable, it is like all types of entries....you must know when market goes up, down (trending) and sideways otherwise you are nothing more than a newbie with a 'shotgun tool' hoping for the best. Grids, like Martingale will lose your money quicker than anything else.
Yes....the lure of that machine churning thousands of trades is strong but if it were so simple, everybody would be millionaires.
PLEASE educate yourself on how to become a REAL trader. This takes time (years), hard work and discipline. After you have mastered it, then perhaps play with grids on the side.
Hi waltini, is it possible to add a start time option, so that the indicator will begin drawing the time lines from a specific time like 22:30 ?
Have a good day.
Hello people, I wonder if someone could help me with this indicator.
Can anyone make the indicator show number of vertical lines, like 10 instead of only 1 line.
Thanks in advance.
Ethan, the jurik packhave a nice collection of grid lines (vgrid folder) with many customization features. Maybe you don't need to work.
Thanks for the help Linuxser, but it's not so accurate, because I can't adjust v-grid by times like 15 minutes, so I prefer to tune the vertical lines by number of bars.