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Indicator showing horizontal lines at fixed moving distances from bid and ask lines?

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RainGurl
24
RainGurl  

Ideally, this indicator would allow me to set 2 horizontal lines above the bid price (one for TP pip distance and another for SL pip distance) and two horizontal lines below the ask price, which always move in tandem with the current bid and ask lines.

I want  to more accurately eyeball the probability I will reach my target TP pips, without a high risk of reaching my target SL pips — before entering a one click trade. 

I was considering trying to modify the Spread Lines indicator to set lines mapped to the value of each of these lines, but I don't (yet) have the technical expertise.

Any thoughts or suggestions are much appreciated! 

Spread Lines
Spread Lines
  • votes: 18
  • 2015.02.23
  • file45
  • www.mql5.com
The indicator supports two functions: 1. Ask and Bid line customization(style, thickness) and 2. Second Broker spread comparison.
Stuart Browne
6926
Stuart Browne  

I did write something like this for a mate recently. Not exactly what you wanted but not hard to modify the concept

Files:
BAPP.ex4 10 kb
Alain Verleyen
Moderator
29869
Alain Verleyen  
Stuart Browne:

I did write something like this for a mate recently. Not exactly what you wanted but not hard to modify the concept

Will be hard to modify an ex4 :-)
Stuart Browne
6926
Stuart Browne  
Alain Verleyen:
Will be hard to modify an ex4 :-)

Which is why I said it wouldn't be hard to modify the "concept", not the source code ;-)

RainGurl
24
RainGurl  
Stuart Browne:

Which is why I said it wouldn't be hard to modify the "concept", not the source code ;-)


Hi Stuart. Thanks for trying to help, but I'm not sure how to work with an ex4 file. What editor do you use to open and read/work with it? Are you able to send the mq4 file, or is that proprietary? I don't necessarily need everything you wrote, but just a head-start on what you think would help me to write the indicator I'm trying to create. Thanks in advance for your help. 

RainGurl
24
RainGurl  
Alain Verleyen:
Will be hard to modify an ex4 :-)

Hi Alain. Thanks for sharing your comment. It helped me. 

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