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Line Break chart generator

5

The professional line break chart generator is used to create live line break charts (i.e. 3 line break). The chart is plotted using MT4's offline charging facility thus making it possible to trade* directly from the chart as well as attach any of the standard or custom indicators to perform technical analysis.

The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart.

Wicks can be displayed or hidden on the chart - they give a lot of additional information regarding the underlying price action.

The indicator's settings include:

  • Line break number - determines the number of lines (or previous candle lows/highs) that need to be broken in order to display a reversal line.
  • Show wicks (true/false)
  • Show history for number of days
  • Display on offline chart (M2 / M3 / M4 / M6 / M7 / M8 / M9 / M10)
  • Recalculate on history updates (true/false)
  • Minimum chart update interval (milliseconds)

To start using the chart, first you need to select the instrument and time frame (M1, M5, H1, D1, etc) you want to use as the source for line break calculations and open this chart. Next, attach the line break chart generator indicator onto this chart and set your desired inputs (as described above).

You will see a [Show Chart] button in the lower right corner of the chart. When you click it an offline chart will be opened and it will display the line break chart you selected. Please note that you need to keep the base chart open as the line break chart generator will feed live quotes to the offline chart thus making it live for trading.

* )EAs can be used directly on the offline chart, however, a small tweak is required, so you need to have access to your EA source code. Below is an EA skeleton example that is capable of running directly on any offline chart:

#property strict
//+------------------------------------------------------------------+
//| Expert initialization function                                   |
//+------------------------------------------------------------------+
int OnInit()
{
   // You need to initialize a time to call the OnTimer event.
   // It is used to call OnTick whenever the Bid price changes.
   // The check is made every 250 ms, which should be sufficient.
   
   EventSetMillisecondTimer(250);
      
   //---
   
   return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert deinitialization function                                 |
//+------------------------------------------------------------------+
void OnDeinit(const int reason)
{
   // Remember to destroy timer in the OnDeinit event.
   
   EventKillTimer();

   //---      
}
//+------------------------------------------------------------------+
//| Expert tick function                                             |
//+------------------------------------------------------------------+
void OnTick()
{
   //
   // This is where all of your EA trading logic resides.
   // I just write to the log in this example...
   //
   
   Print("OnTick function call - bid = "+(string)Bid);
}
//+------------------------------------------------------------------+
//| The OnTimer function is used to call OnTick()                    |
//| whenever the Bid price changes.                                  |
//+------------------------------------------------------------------+
void OnTimer()
{
   RefreshRates();
   static double prevBid = 0; 
   
   if(Bid != prevBid)
   {
      prevBid = Bid;
      OnTick();
   }         
}
//+------------------------------------------------------------------+
Reviews 2
btombe
41
btombe 2022.02.02 22:11 
 

Excellent indicator

Open5555
25
Open5555 2020.10.30 04:48 
 

Very happy, works great.

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Robust median Renko style indicator for creating custom charts resembling Median Renko, Mean Renko, Turbo Renko and Better Renko candles as well as vanilla Renko with wicks plus Point-O charts. This all in one package provides all of the signals needed by day traders, scalpers, and even long-term traders. Main characteristics The indicator is an overlay on the main chart so it is possible to utilize one-click trading and order manipulation directly on the custom charts. Visual order placement
Ultimate Renko
Artur Zas
4.58 (12)
Ultimate Renko is a full implementation of a robust Renko style charting solution for MT4. It enables creating custom live charts resembling Median Renko , Mean Renko , Turbo Renko , and Better Renko candles as well as Vanilla Renko and Renko with wicks , PointO charts, and many more. This all-in-one package provides all of the signals needed by day traders, scalpers, and even long-term traders. You can apply all of the standard and custom indicators and technical studies as well as templates to
A utility used to create custom Tick or Volume bar charts and provide real-time updates. This is an MT4 "offline" chart equivalent which is very simple to use. You can attach any MT5 compatible indicator or template to the tick chart and perform your technical analysis. Tick charts measure the number of transactions per bar. You can choose any number of ticks per bar but most traders choose Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233...). The generator uses tick data to plot
Range Bars
Artur Zas
4 (4)
The robust charting solution enables creating custom live range bar charts on the MetaTrader 4 trading platform. You can apply all of the standard and custom indicators and technical studies directly to the range bar charts and you can run EAs directly on these charts as well* (for details see text below the input summary). To create a range bar chart you need to attach the Range Bar indicator to a standard time frame (1 minute is recommended) and use the indicator's settings to generate a live
A countdown timer for the  Volume bar chart generator  and  Tick chart generator  products, which are available for download from the MQL5 Market: Tick chart generator: https://www.mql5.com/en/market/product/29215 Volume bar chart generator: https://www.mql5.com/en/market/product/47197 The counter conveniently displays the number of ticks or transactions (depending on the chart) that need to pass for a new bar to start printing. The user can set the following indicator inputs. Volume type
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Create and trade timeframes in seconds. The bar time duration is freely adjustable from 1 second and up. The chart is accurately constructed using real ticks from the broker's server. Main characteristics The indicator is an overlay on the main chart, making it possible to utilize one-click trading and on-chart order manipulation. History calculated using real tick data. Built-in technical studies: 4 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weighted using tick or rea
Robust trading panel for use on any symbol (including RangeBars or Renko custom symbols). The tool can be placed anywhere on the chart and offers the following array of features: One-click instant order entry. Pending order entry using horizontal lines on the chart Pending order entry using keys in Entry price (E/P) and optional Stop Loss (S/L) and/or Take Profit (T/P) A choice between fixed trading volume or risk-based volume calculation based on the available account equity, entry price, and t
The extreme volume indicator helps identify turning points in the market by pinpointing spots of higher than average volume. Such points usually indicate the start of a trend or a turning point in the market. The indicator averages out volume readings over an extended period of time and calculates a volume threshold level. When this level is breached, it identifies the most likely trend direction using the trend of the candle that breached the volume threshold. The direction indicator (red or gr
CMI - Profit from trending and ranging markets. The CMI indicator is a two-part system used to trigger both trend and counter-trend trades, that has been introduced by Daniel Fernandez in an article published in Currency Trading Magazine (August 2011 issue). It is a simple, yet effective indicator, which gauges whether the market has behaved in a choppy (non-directional) manner or trending (directional) manner. CMI calculates the difference between the most recent bar's close and the close n bar
The trend scalper candles are used to identify short-term trends based on the readings of the MACD, RSI and ATR indicators. All indicator calculations are visualized by candle colors which are overlapped on the chart. The indicator uses gray , green and red colors to paint individual candles, which gives you a lot of useful and easy to read information. Gray candles Gray candles indicate a range bound period and the information can be used to trade breakouts. Simply mark the high and low of th
Range Bars for MetaTrader 5 is a unique tool for conducting technical analysis directly on the charts, as the indicator is an overlay on the main chart and range bars are calculated using real tick data. The trader can place and modify orders directly on the range bar chart (even with the use of one-click trading). Apart from range candles, the indicator also includes the most commonly used technical studies which are 3 moving averages (Simple, Exponential, Smooth, Linear-weighted, Volume-weight
A professional line break chart which is displayed directly in the chart window thus making it possible to trade directly from the MetaTrader 5 charts. The line break chart can be displayed as the most widely used 3 line break chart or a custom variation such as 2 or 5 line break chart . Wicks can be displayed or hidden on the chart - they give a lot of additional information regarding the underlying price action. The indicator's settings include: Line break number - determines the number of lin
X Tick Chart
Artur Zas
4.75 (8)
The indicator combines the features of both the Tick charts and Volume Bar charts. The mode can be selected in the indicator's settings. Tick charts measure the number of transactions per bar. To give you an example if you have a 233 tick chart, each bar measures 233 transactions per bar and a new bar is plotted after 233 transactions. You can choose any number of ticks per bar but most traders choose Fibonacci numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233...). Volume bar charts are desi
Professional range bar charting on a custom symbol chart accurate pricing to the tick  accurate timeline (no future date projections) very responsive charts An Expert Advisor (EA) is used to create a RangeBar custom chart and provide real-time updates. It is an MT4 "offline" range bars chart equivalent. The simplicity of use - Attach the EA to any time-based chart that you wish to see Range Bars for, input your desired parameters and you are ready to go! You can attach any MT5 compatible indicat
The Trade Tracker Library is used to automatically detect and display trade levels on custom charts. It is an especially useful add-on for EAs that trade on custom charts in MT5. With the use of this library, the EA users can see trades as they are placed via the EA (Entry, SL & TP levels) in real-time. The header file and two examples of EA skeleton files are attached in the comments section (first comment). The library will automatically detect the tradable symbol for the following custom
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btombe
41
btombe 2022.02.02 22:11 
 

Excellent indicator

Open5555
25
Open5555 2020.10.30 04:48 
 

Very happy, works great.

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