Download MetaTrader 5

Horizontal Level Drawer-type In The Price(s) & The Lines Will Be Drawn On Your Chart

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TradertoolsFX
69
TradertoolsFX  

This is a tool to save time and for convenience. This is especially handy if you are a person who follows the technical levels of other traders (such as in a morning commentary or webinar). Install this file in

Program Files/MetaTrader 4/experts/indicators

Restart MT4, and the indicator will be under "Custom Indicators" Also, hot keys are great for this tools if you are using it often. To set a hot key, go into the navigator in MT4, go to "Custom Indicators" and find "TRADERTOOLS-FX.COM HORIZONTAL LINE DRAWER." Right click the indicator as scroll down to

"Set hotkey." A screen should pop up called "Navigator Hot Keys." Under the name column select "TRADERTOOLS-FX.COM HORIZONTAL LINE DRAWER," then double click the button to the right in the Control colum and select Alt or Ctrl (let's say Ctrl), then double click the next button to the right under the Key column and enter any letter you wish to associate with this indicator (for the sake of ease, let's say H). Finally, press the SET button and then close the window. Now, whenever I want to use the indicator and add a horizontal level, I simply have to press CTRL+H and the indicator will appear. Now onto the actual tool:

It is a simple tool, open it, go to the inputs tab, enter price 1 and price 2, etc. The default color is RED, but you can change any separate level to the color of your choice. The horizontal lines are by default named "Significant Level-0" "Significant Level-1" etc. You can name these whatever you want by changing the input at the top "NAME", double click "Significant Level-" and change it to whatever you want. Also, the horizontal lines will remain on the chart, even if you delete the indicator from the chart.

***NOTES AND CAUTIONS: 1. The indicator will draw a max of 25 price levels per entry. If you need to draw more, just open the indicator and do it again, but CAUTION CAUTION, every time you add another set of 25 lines you must change the "NAME" field otherwise the new price 1 will overwrite the old price 1. That is also why you need to make sure that when you are adding new price levels to the same set of 25, you are not overwriting old levels...if you have added one to the price1 field, add it to price2, and if one has been added to price2, add it to price3, OR just always change the "NAME" field to something not used before. I know this sounds complicated, but it really isn't. Just remember something simple about MT4, MT4 will not allow 2 horizontal lines to have the same name. The indicator names the horizontal lines according to what you have entered into the "NAME" field followed by a #. Price1 is name0, price2 is name1, and so on.

Please Please be careful with this indicator until you understand it so you don't accidentally overwrite any of your horizontal lines. It is really quite simple, you just need to get the hang of it and become confident with how it works. Play around with it in a demo or a chart that you're not using at first until you understand what I mean in the above instructions.

Once you understand it and get the hang of it, I think this is a very handy tool for quickly entering horizontal levels and could benefit a lot of people as a time saver.

If you have any questions, concerns, suggestions for improvement, or issues with this tool, please feel free to reply to this post and I will try to help you as soon as I can.

I hope whomever uses this tool finds it helpful in their day to day trading.

DISCLAIMER: No representations or warranty of any kind are being made regarding the functionality of this tool. Please use your own due diligence and use this tool at your own risk.

By downloading this tool you are agreeing not to hold me liable for any loss resulting from the use of this software. This includes, but is not limited to, loss due to errors with the software, typographical errors, user input errors, etc. I expressly disclaim any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on this MT4 Custom Indicator Software.

ADDITIONALLY, THIS SOFTWARE IS FREE TO EVERYONE. YOU MAY POST IT AND GIVE IT AWAY, BUT NO ONE MAY SELL IT OR MARKET THIS SOFTWARE IN ANY WAY WHATSOEVER.


With that said, enjoy! Happy Trading

TradertoolsFX
69
TradertoolsFX  

Here is an updated version of the horizontal line drawer. This is a script file. SAVE IT TO YOUR SCRIPTS FILE.

NEW FEAUTURES:

1) This NO longer overwrites existing lines

2) This NO longer overwrites line properties such as color when you add new lines that are different in color, width, style...

3) You can select the line type (1=Solid, 2=Dash). **For dash to works, width has to be set to 1**

4) You can select the line width (1 is the thinnest, 2 is thicker, and so on)

As before, assign a hotkey for quick access...

DISCLAIMER: No representations or warranty of any kind are being made regarding the functionality of this tool. Please use your own due diligence and use this tool at your own risk.

By downloading this tool you are agreeing not to hold me liable for any loss resulting from the use of this software. This includes, but is not limited to, loss due to errors with the software, typographical errors, user input errors, etc. I expressly disclaim any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on this MT4 Custom Indicator Software.

ADDITIONALLY, THIS SOFTWARE IS FREE TO EVERYONE. YOU MAY POST IT AND GIVE IT AWAY, BUT NO ONE MAY SELL IT OR MARKET THIS SOFTWARE IN ANY WAY WHATSOEVER.

With that said, enjoy! Happy Trading

fabitien
49
fabitien  

Thanks.

deanbean1
3
deanbean1  

Hi,

how could I link this indicator into csv price levels?

Dean

TradertoolsFX
69
TradertoolsFX  
deanbean1:
Hi, how could I link this indicator into csv price levels? Dean

Hi deanbean1,

Currently, there is not a direct way to import price levels from a csv file into the script. I will look into it and possibly modify the script.

Thank You!

Happy Trading

kochtgr
11
kochtgr  

thanks for the info it is very helpful

joshuabelanger
21
joshuabelanger  

Thank you for the update of a version of a horizontal line drawer this is a big help of all of us. Hope that from to time you will post a new one.

rohde
4
rohde  

Hi Tradertools,

Thanks very much...your first indi is almost similar that i'm looking for.. would you mind to modified this indi for me.. I would like to have the first line as reference price...other lines is the level lines.. so that i just need to give round number (+ or -) to add or deduct from reference price...

If possible when i move the first line (reference price) to new price in the chart, all lines with follow as well... if not possible, I'm just fine to change it in the properties..

rohde

mtdavs
44
mtdavs  

At the first of a new week, I like to place in lines for previous week's hi, low, and mid point. This indicator, as is stated, will save a TREMENDOUS amount of time. Thanks, much appreciated!!

khalidamassi
3
khalidamassi  

very wonderful , thank you

abi
16
abi  

Hello,

            The horizontal line drawer script is loaded in my script folder and is showing up in my navigator script folder on my opened mt4. But when I try to load it onto a chart it does not want to open up. It shows the little rectangle box being transferred onto my chart but nothing is showing up on that chart.


Now it is off hours in trading forex. Is this why it is not loading onto my chart?

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