• Overview
  • Reviews (13)
  • Comments (16)
  • What's new

Important Lines

This indicator displays Pivot-Lines, preday high and low, preday close and the minimum and maximum of the previous hour. You just have to put this single indicator to the chart to have all these important lines, no need to setup many single indicators.


Why certain lines are important

Preday high and low: These are watched by traders who trade in a daily chart. Very often, if price climbs over or falls under a preday low/high there is an acceleration in buying/selling. It is a breakout out of a daily range.

Prehour high and low: Are watched by breakout traders who trade in the hourly chart. The opening range breakout strategy (see Toby Crabel) uses the hourly range of the past hourly candle and trades the breakout at the market opening. Placing stop loss near the hour lines may be very effective.

Pivot Points: Pivots stem from the former pit traders who needed a quick and rough orientation of the situation of the price. Today still many traders look at these points. When trading, the pivot point, the supports (s1, s2, s3) or resistances (r1, r2, r3) cause the price to slow down or even turn.


Calculation Methods

Pivots:

Pivot Point = (high + close + low)/3 (preday)

r1 = (2 * pivot) - low

s1 = (2 * pivot) - high

r2 = pivot + (r1 - s1)

r3 = high + (2* (pivot - low))

s2 = pivot - (r1 - s1)

s3 = low - (2*(high - pivot));


All the other lines are derived from the history of MetaTrader 5.


Customization

The colors of the lines and labels can be customized.

  • pivotColor
  • s1Color
  • s2Color
  • s3Color
  • r1Color
  • r2Color
  • r3Color
  • lowH1Color
  • hiH1Color
  • PDHColor
  • PDLColor
  • PDCColor


Why did I program this indicator

As I started with MetaTrader 5 about a year ago I did not find any matching indicator. As I used it every day, I thought that it could be of use for other traders too.

This indicator is used in conjunction of my Opening Range Breakout robot I will publish soon. I plan to make this indicator "speaking". So it will be possible to "trade what you see and hear".


Issues and disclaimer

I use this indicator for about half a year, in general, it runs well.

On Mondays it might show wrong numbers, it might be, that it takes data from Saturday.

There is no guarantee for this product in no way.


12.7.2018, Terence V. Gronowski "SwissTrader"

Reviews 13
Michael Dias
54
Michael Dias 2020.12.26 05:01 
 

Indicador muito bom, parabéns, grato por disponibilizar gratuitamente.

Not4putter
14
Not4putter 2020.11.10 10:18 
 

Super

pretty-lady
154
pretty-lady 2020.11.07 14:35 
 

Excellent!!! Thank you very much.

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The RSI Crossover Alert MT5 is a Notification System that is highly recommended for Relative Strength Index traders. This indicator focuses on the RSI crossover alert which is the combination of fast and slow RSI. It’s a good technique for filter traditional RSI signals to avoid false signals. Scalping Strategy 1 Buy Entry: Price is greater than EMA 200 RSI crossover Buy alert Sell Entry: Price is less than EMA 200 RSI crossover Sell alert Exit: Quick take profit (10-15 pips) Features Suita
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Smart Harmonic Pattern
Andrey Danilo Sagot Munoz
SMART HARMONIC PATTERN is an indicator that scans the market for potential geometric formations with fibonacci related mathematical formulas. It does a full recognition in the graphical history and live price without the need for complex analysis, since everything is calculated by the same indicator. You can also work with the old formations and recognize current trading levels automatically proyected on the chart, all this only with a click on the pattern formed. It has advanced settings so you
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Royale Scalping Indicator
Mostafa Tarakameh
Royal Scalping Indicator is an advanced price adaptive indicator designed to generate high-quality trading signals. Built-in multi-timeframe and multi-currency capabilities make it even more powerful to have configurations based on different symbols and timeframes. This indicator is perfect for scalp trades as well as swing trades. Royal Scalping is not just an indicator, but a trading strategy itself. Features Price Adaptive Trend Detector Algorithm Multi-Timeframe and Multi-Currency Trend
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FiboPlus MT5
Sergey Malysh
The indicator automatically plots and tracks buy and sell Fibo levels at any symbol and timeframe. FiboPlus displays: Fibo levels of the probable upward or downward price movements. entry points are shown using "up arrow", "down arrow" icons. The data is doubled on SELL and BUY buttons. rectangle area limited by levels 0-100. Trading is performed from one level to another (no trend). Features price movement forecast, market entry points, stop loss and take profit for orders. ready-made trading
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Swiss CandleTime
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Swiss CandleTime What ist CandleTime for This indicaor just displays the remaining time for a candle to build. It is best used if you trade with timframes from 3 minutes. I use it in M3 to keep postions. If I have two following red candles i usually liquidate the position. Timeframes M1 to H1 Inputs Arrow displayed => Edit your arrow string Arrow for waiting conditions => Arrow if chart is offline Text Color => color of the text Tell if there is a trend change => tells you, if the two preciding
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Swiss HolyGrail
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Swiss ORIndicator
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Swiss InsideOutsideBar
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Swiss InsideOutsideBar Imortance of Inside- and Outside Bars Inside bars are completely engulfed by its previous bar. The pattern is also known as "harami" (pregnant). Outsidebars engulf the previous bar. Inside bars might mark situations before an outbreak. They are a condensed form of a symmetrical triangle. Symmetrical triangles represent a battle between bulls and bears. There can be an outbreak to either side, mostly the outbreak is in direction of the main trend. The combination of inside
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FasterShark
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RSI talking to save your eyes
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RSI talking, use all your senses while trading! The idea When trading your eyes might be very stressed. Therefore I programmed the RSItalking. Trade what you see and what you hear ! Function This indicator says "rsioverbought" when rsi is over a threshold value (default 75%) and "rsioversold" if it is under a lower threshold (default 25%). When you keep a long position be adviced to realize profit when the indicator tells you "rsioverbought" and vice versa. You will find an explanation of th
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Clesio Hector Dufau Da Conceicao
224
Clesio Hector Dufau Da Conceicao 2021.01.25 14:33 
 

Great job. One just set to add: line width (1, 2, 3...)

Michael Dias
54
Michael Dias 2020.12.26 05:01 
 

Indicador muito bom, parabéns, grato por disponibilizar gratuitamente.

Not4putter
14
Not4putter 2020.11.10 10:18 
 

Super

pretty-lady
154
pretty-lady 2020.11.07 14:35 
 

Excellent!!! Thank you very much.

Magistre
14
Magistre 2020.10.29 11:36 
 

Thank you, that was what I am looking for!

Robert Tello
25
Robert Tello 2020.09.21 02:44 
 

Me parece muy bueno tu indicador en que temporalidad de preferencia lo trabajas? Asimismo lo trabajas junto con otro indicador?

contraror
64
contraror 2020.08.06 09:32 
 

Thank you, just what I am looking for!

Valentin Butorin
3891
Valentin Butorin 2020.07.23 14:23 
 

User didn't leave any comment to the rating

Giulio Braga
297
Giulio Braga 2020.03.08 20:28 
 

very useful job

thank you

Detleff Böhmer
1179
Detleff Böhmer 2019.09.24 10:52 
 

Danke für das teilen. Ein sehr gutes Hilfsmittel.

sunnychow
8660
sunnychow 2019.01.12 16:24 
 

Thanks for share

[Deleted] 2019.01.07 17:44 
 

User didn't leave any comment to the rating

Mohammad Yousaf Hameedi
542
Mohammad Yousaf Hameedi 2018.08.27 08:22 
 

Thank you so much. I was looking for such indicator for long time.

Reply to review
Version 1.20 2019.02.15
One per bar introcuced. There was a flicker on some pcs.
Version 1.10 2019.01.27
Correction of error: Lines were not deleted when indicator was removed. Now they are gone when the indicator is removed from chart (if they are still there just change the timeframe up and down).